Federal Bank Fed Trade Plus Current Account

• Instant money transfer
• 24x7 ATM withdrawals
• Attractive rate of interest

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Since its establishment in the early 1930s, Federal Bank has grown exponentially in terms of the products that it offers its customers. One of the main goals of Federal Bank is to become the country’s most admired bank and to focus on markets of all sizes through various digital media.

One of the products that Federal Bank offers its customers is the current account. A current account is a type of bank account that offers the account holder higher limits on withdrawals and deposits. Federal Bank has a wide variety of current accounts that it offers its customers. Each of these accounts has distinctive features and benefits that have been exclusively crafted for a specific group of customers. The Fed Trade Plus Current Account is one of them.

Features and benefits

The following are the features and benefits of the Fed Trade Plus Current Account:

• The Fed Trade Plus Current Account requires the account holder to maintain a minimum monthly average balance of Rs.1 lakh. Account holders are charged a fine of Rs.150 per month for non-maintenance of the average monthly balance.
• The bank issues account holders with 50 free cheque leaves every month.
• The bank provides account holders with 15 free Demand Drafts every day.
• The bank’s email alerts and SMS alerts are provided free of charge to the Fed Trade account holders.
• Account holders receive monthly account statements from the bank free of charge.
• The bank provides Fed Trade Plus Current Account holders with a 75% concession on the service charges for outstation cheques collected.
• Additionally, account holders also receive a 50% discount on the processing fees for all of the bank’s Retail loan products.
• Account holders receive a Visa Fast Biz Platinum debit card with a cash withdrawal limit of Rs.2 lakh.

Eligibility Criteria

The following individuals are eligible to open Fed Trade Plus Current Account with Federal Bank:

• Firms
• Joint Stock companies
• Individuals
• Sole proprietors

Federal Bank is widely recognised for the quality of services that it offers its customers. In addition to the features mentioned above, the Fed Trade Plus Current Account also provides account holders with the facility of making bulk transfers through the bank’s NEFT and RTGS services free of charge. The account has been developed keeping in mind the specific needs of the customer’s business requirements while providing its efficient, flexible banking solutions.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.