Federal Bank Fed Vanijya Current Account

The following are the features and benefits of Federal Bank's Fed Vanijya Current Account:

1. The monthly average balance to be maintained in a Fed Vanijya Current Account is Rs.5 lakh. Non-maintenance of the minimum monthly balance results in a penalty fee of Rs.75 per month.
2. Federal Bank issues 150 free cheque leaves per month for customers who hold the Fed Vanijya Current Account.
3. The bank provides account holders with its internet banking, mobile banking, and NEFT and RTGS facilities free of charge.
4. Account holders receive free monthly account statements and SMS alert facilities.
5. The bank provides account holders with 25 free Demand Drafts per day.
6. Account holders have the privilege of free collection of outstation cheques.
7. Fed Vanijya Current Account holders who avail the bank's retail loans receive a 50% discount on the loan processing fees.
8. Account holders receive a Visa Fast Biz Platinum debit card that comes with a Rs.2 lakh withdrawal limit and a Rs.3 lakh Point of Sale (POS) and E-commerce transactions.

Eligibility Criteria

To be eligible to open a Fed Vanijya Current Account with Federal Bank, the applicant will have to fall under one of the following categories:

1. Joint stock companies
2. Firms
3. Sole proprietorships
4. Individuals

The Fed Vanijya Current Account offers account holders a number of perks on opening their account. The flexible and comprehensive solutions offered by the bank give customers a convenient and efficient banking experience.

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