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Federal Bank Basic Savings Bank Deposit Account (BSBDA)

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Federal Bank’s BSBDA (Basic Savings Bank Deposit Account) is a zero balance savings account. It has been introduced to meet the basic banking needs of customers, along with some other features such as monthly statement, cheque book and a free ATM card.

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Federal Bank’s BSBDA (Basic Savings Bank Deposit Account) is a zero balance savings account. It has been introduced to meet the basic banking needs of customers, along with some other features such as monthly statement, cheque book and a free ATM card.

Bank Federal Bank
Account Name Basic Savings Bank Deposit Account (BSBDA)
Category Savings Account
Eligibility Eligibility criteria:
  • Resident individual, either sole or joint is eligible to open this account.
  • Minors are not eligible to apply for this account independently.
  • Minors can apply jointly with a guardian such as the mother. The account is allowed to be operated only by the guardian.
Average Monthly Balance No need to maintain any minimum balance
Interest Interest is computed in the following manner:
  • Less than Rs.50 lakh: 3.50% (uniform rate for the whole balance)
  • Rs.50 lakh to Rs.10 crore: 4% (for the remaining balance of Rs.50 lakh and above)
  • Rs.10 crore to Rs.25 crore: 3.50% for amount up to Rs.1 lakh, and 6.30% for the remaining balance in excess of Rs.1 lakh
  • Rs.25 crore and above: 3.50% for amounts up to Rs.1 lakh, and 6.51% for the remaining balance in excess of Rs.1 lakh
Debit Card Not Available
ATM Card Available (Proprietary)

The account holder of the Federal Bank Savings Bank Deposit Account is not permitted to have another savings bank deposit account at the bank. In case, the applicant already has an account, it is required to be closed within 30 days from the BSBDA’s account opening.

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Charges for the Services Availed in the BSBDA Account

The following charges and fees are levied on the account holders of the Basic Savings Bank Deposit Account:

ATM Transactions at Federal Bank ATM Free (Both financial and non-financial transactions)
Federal Bank Debit Card Transactions at other Bank ATMs Five transactions are provided free of charge per month. Post which, the following charges apply:
  • Financial transaction - Rs.20/transaction
  • Non-financial transaction – Rs.10/transaction
Charges for not maintaining the Average Minimum Balance (Monthly) Rural & Senior citizens:
  • Upto 20% - Rs.27
  • Above 20% to 40% - Rs.54
  • Above 40% to 60% - Rs.81
  • Above 60% to 80% - Rs.108
  • Above 80% to 100% - Rs.135
Other customers:
  • Upto 20% - Rs.30
  • Above 20% to 40% - Rs.60
  • Above 40% to 60% - Rs.90
  • Above 60% to 80% - Rs.120
  • Above 80% to 100% - Rs.150
Cash Remittance at anywhere else other than home branch (Anywhere Banking Charges)
  • Rs.50 is charged per transaction or 50 paise per Rs.1000, whichever is higher.
  • First 4 remittances lower than Rs.10,000, is allowed for free.
  • If AMB is maintained at Rs.50,000 in the previous month, AWB charges are waived off.
Cheque Book Charges Free – 1 per year
Monthly Account Statement Free of charge
Charges for Closing of Account
  • Within 6 months – Rs.100
  • After 6 and before 12 months
  • Rural – Rs.50
  • Senior Citizens – Rs.50
  • Other – Rs.100

Documents Required for Federal Bank BSBDA

When applying for Federal Bank BSBDA, any one of the following documents are required as identity proof and address proof:

  • Duly filled application form with two passport size photograph of the applicant
  • Driving License
  • Aadhar Card
  • NREGA’s job card, validated by a State Government Officer
  • PAN (Permanent Account Number) Card
  • Passport
  • Voter’s ID

The Federal Bank BSBDA can be applied for, online as well as offline. Applicant can download the application online and fill it and submit it at a bank branch along with the mandatory documents.

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

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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