Federal Bank is one of India’s major private sector banks. Established before independence, the bank has worked towards its vision of becoming one of the country’s most reliable banks. It has bank branches spread across over 25 states and has been listed in the BSE, NSE, and London Stock Exchange.
The reason for the bank’s success can be attributed to the fact that it offers its customers a diverse range of financial products and services. These services range from basic products like savings accounts and fixed deposits to investment instruments such as mutual funds and insurance policies.
One of the many products that the bank offers its customers is the current account. A current account is a type of bank account where the account holder is permitted to make unlimited withdrawals from their account on a daily basis. The account is used by individuals who require a regular cash flow to run their business operations.
Federal Bank has a wide range of current accounts that it offers its customers. One of these accounts is the Fed Sahakari Current Account. The following are some of the features and benefits of this current account.
Features and benefits
- One of the key features of the Fed Sahakari Current Account is that the account holder is not required to maintain a minimum average monthly balance in their account.
- Account holders receive free unlimited cheque leaves from the bank.
- Account holders can avail the bank’s internet banking facilities free of charge.
- The bank provides account holders with free unlimited demand drafts.
- Fed Sahakari Current Account holders have the added benefit of free unlimited outstation cheque collection.
- The bank provides its internet banking, mobile banking, mobile alerts, and email alerts free of charge.
To be eligible to open a Fed Sahakari Current Account with Federal Bank, account holders should fall under one of the following categories:
- Cooperative credit societies
- State cooperative banks
- Scheduled cooperative banks
- Service cooperative banks
- Non-scheduled cooperative banks
- Primary cooperative banks
- District cooperative banks
- Urban cooperative banks
Federal Bank’s Fed Sahakari Current Account has been created specifically for banks and cooperative societies. The features and benefits associated with the account have been planned keeping in mind the financial requirements of the account holder.
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