- Instant money transfer
- 24x7 ATM withdrawals
- Attractive rate of interest
Federal Bank Limited is one of our country’s strongest and most stable commercial banks. Headquartered in Kerala, Federal Bank is spread all over India with thousands of branches and ATMs in different states. The SB Plus Savings Account has been introduced by the bank for their dynamic customers. The SB Plus attractive features such as modern banking channels, free Demand Draft every month and Federal Debit Card availability.
| Bank | Federal Bank |
| Account Name | SB Plus |
| Category | Savings Account |
| Eligibility | Resident individuals with independent or joint account, HUFs, trusts, clubs, societies, associations are eligible to avail this account. Foreign nations living in India, as per the Foreign Exchange Management Act as well as some others, as per RBI, are also eligible. |
| 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. |
| Debit Card | Available |
| Type of Debit Card | MasterCard Classic or Maestro or Visa International Shop ‘n’ Save |
Services Offered by SB Plus Savings Account
The following services can be availed in this Fed savings account:
| Internet Banking | Available |
| RTGS and NEFT Facility | Available |
| Mobile Banking | Available |
| Cheque Book/Leaves | Available, 40 cheque leaves for free half-yearly |
| Monthly Statement of Account | Available, Monthly Can be collected from the bank’s branch, if passbook not availed |
Features of Federal Bank SB Plus Savings Account
Some of the main features of the SB Plus Savings Account are:
| Daily Cash Withdrawal Limit |
|
| Daily POS Transaction Limit | Rs.30,000 |
| Monthly Demand Draft Limit | Rs.10,000 |
| Outstation Cheque Collection | 25% Discount on Service Charges |
Charges for the Services Availed in the SB Plus Savings Account
The following charges and fees are levied on the accountholders of the SB Plus:
| Non-maintenance of Average Minimum Balance (Monthly) | Rural & Senior citizens:
|
| ATM Transactions at Federal Bank ATM | Free (Both financial and non-financial transactions) |
| ATM Transactions at other Bank ATMs | Five transactions are provided free of charge per month.
Post which, the following charges apply:
|
| Transaction Alerts - SMS | Rs.50 paise per SMS |
| Card Renewal Fee | Free of charge |
| Card Registration Fee | Free of charge |
| Cash Remittance at Non Home Branch (Anywhere Banking Charges) |
|
| NEFT Charges | Inward – Free
Outward fee charges per transaction:
|
| RTGS Charges | Inward – Free
Outward fee charges per transaction:
|
| Charges for Account Closure |
|
Documents Required for SB Plus Savings Account
When applying for Federal Bank SB Plus Savings Account, any one of the following documents are required as identity proof and address proof:
- PAN (Permanent Account Number) Card
- Passport
- Driving License
- Aadhar Card
- Voter’s ID
- NREGA’s job card, validated by a State Government Officer
The SB Plus 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.
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