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Federal Bank Mahilamitra Savings Bank Account

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

Overview of Federal Bank Mahilamitra Savings Bank Account

With a vision to empower the women of our country, Federal Bank has introduced a savings bank account designed specially to address the financial needs of women. The Federal Bank Mahilamitra is a savings bank account, specially designed for women, which comes loaded with a host of beneficial and exciting features like a Federal Bank Debit Card for easy access to cash and convenience of shopping, free internet banking and mobile banking for carrying out transactions anytime you may need, high transactions limits not only for cash withdrawals but also for shopping transactions, convenience of making quick and easy fund transfers electronically via NEFT or RTGS, attractive discounts on retail loan products, free email and mobile alerts to keep track of account activity and numerous other similar features.

Bank Federal Bank
Category Mahilamitra SB Account
Minimum Balance Requirement A minimum Average Monthly Balance of Rs 5,000 must be maintained in this account
Interest Interest at the rate of 4% will be provided on this account which is calculated on a daily basis
ATM/Debit Card Visa International Gold Debit Card

Features of Mahilamitra SB Account

Monthly Account Statement Customers can obtain one monthly account statement from the branch in case they have not opted for a passbook
Cheque book facility Customers will be provided with 40 cheque leaves, per half year, free of charge
Daily Cash Withdrawal Limit With this account, customers will be allowed a daily ATM cash withdrawal limit of Rs.1 lakh
Daily POS Transaction Limit Customers will be permitted to carry out POS transactions on a daily basis, upto a limit of Rs.1 lakh
Email Alerts Customers will be sent timely email alerts for all transactions which are done under their account
Passbook Facility Available
Mobile banking Facility Mobile banking facility is available free of charge for anytime access to a range of banking facilities on-the-go along with mobile alerts
Internet Banking Facility Internet banking facility is available free of charge for ease of carrying out transactions digitally
Demand Draft Facility Account holders can avail a monthly demand draft facility of up to Rs.50,000
Temporary Overdraft Facility Via ATMs Customers will be provided temporary Overdraft facility via ATMs for up to Rs.25,000
Collection of Outstation Cheques This facility is available. Customers will be provided a concession of 50% on service charges for collection of outstation cheques
Loan Products Account holders will be allowed a 50% concession on processing fee / Administration Fee for all loan products
Electronic Fund Transfer Customers can conveniently transfer funds online with the help of NEFT or RTGS facility
Additional Advantage Account holders can open two Young Champ Accounts in the name of minor children. These account will not have any average Quarterly Balance requirements

The following documents are required to open an account:

  • Passport (either identity proof or address proof)
  • Driving license (either identity proof or address proof)
  • Voter’s identity card (either identity proof or address proof)
  • Aadhaar card (either identity proof or address proof)
  • Job card by NREGA duly signed by a State Government officer (either as identity proof or address proof)
  • Permanent Account Number (only as identity proof)
  • Two copies of recently taken passport size photographs

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.

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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