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Federal Institutional Savings Account (FISA): Federal Bank

Federal Bank has introduced FISA exclusively for clubs, trust, committees, associations and governing bodies. The account's features are customised to meet the requirements of the above group of applicants.  

Updated On - 05 Sep 2025
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Bank

Federal Bank

Account Name

Federal Institutional Savings Account

Category

Savings Account

Eligibility Criteria

  1. Eligible applicants are clubs, trusts, committees, associations and governing bodies who are not involved in business trading or professional services, either for profit or free.
  2. Societies applying for the account must be registered under the Societies Registration Act of 1860 or a relevant law body at that time.
  3. The income of the applicant should be tax exempted

Average Monthly Balance

A minimum balance of Rs. 5,000 to be maintained

Interest

Interest is calculated at the rate of 4% which is computed on a daily basis.

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Services Offered in Federal Institutional Savings Account (FISA):

The following services can be availed in this account:

Internet Banking

Available, Only viewing

RTGS and NEFT Facility

Available

Mobile Banking

Available

E-mail Alerts

Available

Cheque Book/Leaves

Available, 40 cheque leaves for free half-yearly

Monthly Statement of Account

Available, Monthly by post or email

Features of Federal Bank Federal Institutional Savings Account:

Some of the main features of FISA are:

  1. The monthly demand draft limit on this Federal Bank savings account is Rs. 20,000.
  2. Account holders of the Federal Institutional Savings Account can avail 25% discount on service charges levied on outstation cheque collection.
  3. Remittance of donations made by customers of the bank to the account, is free of charge.
  4. Federal Bank also provides 40 cheque leaves per half-year to the account holders.
  5. A certified statement for the purpose of auditing is also granted.
  6. The bank also offers fee collection facilities to be used in schools or colleges run by FISA account holders.
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Fees and Charges of Federal Institutional Savings Account:

The following charges and fees are levied on account holders of the Federal Institutional Savings Account:

Non-maintenance of Average Minimum Balance (Monthly)

  1. Upto 20% - Rs. 27
  2. Above 20% up to 40% - Rs. 54
  3. Above 40% up to 60% - Rs. 81
  4. Above 60% up to 80% - Rs. 108
  5. Above 80% up to 100% - Rs. 135
  1. Upto 20% - Rs.30
  2. Above 20% up to 40% - Rs. 60
  3. Above 40% up to 60% - Rs. 90
  4. Above 60% up to 80% - Rs. 120
  5. Above 80% upto 100% - Rs. 150

ATM Transactions at Federal Bank ATMs

Free (Both financial and non-financial transactions)

Federal Bank Debit Card Transactions at other Bank ATMs

  1. Financial transaction - Rs. 20/transaction
  2. Non-financial transaction - Rs. 10/transaction

NEFT Charges

  1. Upto Rs. 10,000 - Rs. 2.50
  2. Rs. 10,001 to Rs. 1,00,000 - Rs. 5
  3. Rs. 1,00,001 to Rs. 2,00,000 - Rs. 15
  4. Above Rs. 2,00,000 - Rs. 25

RTGS Charges

  1. Rs. 2 lakh to Rs. 5 lakh - Rs. 25
  2. Above Rs. 5 lakh - Rs. 50

Cheque Book/Leaves

Free ( 40 every six months)

Cash Remittance at non-home Branch (Anywhere Banking Charges)

  1. Rs. 50 is charged per transaction or 50 paise per Rs. 1000, whichever is higher.
  2. First 4 remittances lower than Rs. 10,000 are allowed for free.
  3. If AMB is maintained at Rs. 50,000 in the previous month, AWB charges are waived off.

Charges for Account Closure

  1. Within 6 months - Rs. 100
  2. After 6 and before 12 months
    1. Rural - Rs. 50
    2. Senior Citizens - Rs. 50
    3. Other - Rs. 100

Note: Account holders can carry out 100 transactions for free, every quarter.

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Documents Required for Federal Institutional Savings Account:

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

  1. PAN (Permanent Account Number) Card
  2. Passport
  3. Driving License
  4. Aadhar Card
  5. Voter's ID
  6. NREGA's job card, validated by a State Government Officer

The Federal Institutional Savings Account can be opened online as well as offline. You can download the application form, fill it and submit at the nearest Federal Bank branch, along with the required documents.

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

FAQs on Federal Institutional Savings Account

  • What is the Federal Institutional Savings Account (FISA)?

    The Federal Institutional Savings Account (FISA) is a specialised account offered by Federal Bank for institutions, providing benefits like free transactions, discounted service charges, and monthly draft limits.

  • Who can open a Federal Institutional Savings Account?

    Educational institutions, charitable trusts, religious organisations, and other registered entities are eligible to open a FISA account with Federal Bank.

  • What are the charges associated with a FISA account?

    FISA account holders enjoy up to 25% discount on service charges and can make 100 free transactions per quarter. Additional charges apply beyond the limit.

  • What documents are required to open a FISA account?

    Entities must submit registration certificates, PAN, authorised signatory ID proofs, board resolutions, and other KYC documents as required by Federal Bank.

  • Is there a limit on demand drafts under the FISA account?

    Yes, the monthly demand draft limit for Federal Institutional Savings Account holders is ₹20,000.

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