Federal Bank offers a Federal Bank Selfie account that includes Zero Balance Savings Account, An Instant Online Account Number, Higher Interest Rate, Visa EMV International Gold Debit Card, Internet/Mobile Banking, and Much More.If You are looking for a zero balance savings account with no compromise then you must read this whole article.
About Federal Bank Selfie account.
The Federal Bank Selfie Account has categorized in FedBook Selfie Account and FedBook Selfie E KYC Account.The FedBook Selfie Account can be opened easily online. you have to visit the bank branch to activate your account.You can instantly open your FedBook Selfie E KYC Account (Currently discontinued as per UIDAI directions) with the Aadhaar OTP.
Features of FedBook Selfie Account and FedBook Selfie E KYC Account.
1- Zero Average Monthly Balance Requirement.
It Means The FedBook Selfie Account Holder doesn’t bother about maintenance of average balance in the account.
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2- Higher Interest Rate.
You will get an interest rate from 3.5% up to 6.5% p.a. on your savings. Your rate of interest calculated on the balances maintained at the end of the day. Paid-off on every quarterly basis in your account.
3- Free Debit Card.
You will get a Visa EMV International Gold Debit Card free of cost with this Account.
4- Internet/Mobile Banking.
Federal Bank Provide You Highly secured Digital Banking through RTGS/NEFT/IMPS (Branch/ ATMs).
5- Non Maintenance of Minimum Balance charges.
Generally, there are some charges for every account holder for the non-maintenance of minimum average balance (MAB).
Good things in the Federal Bank Selfie account holder you need not worry at all!
Benefits of FedBook Selfie Account and FedBook Selfie E KYC Account.
1-Federal Bank savings account offers a host of facilities likes Quick Account opening
2- Your money remains safe since there is no market risk involved.
3- Highly secured App with online validation of KYC documents.
Eligibility Criteria of FedBook Selfie Account and FedBook Selfie E KYC Account.
1-You have to be Indian citizenship and having an age of more than 18 years old.
2- Aadhaar Linked Mobile Number, Aadhaar Number, and Pan Card.
Difference between FedBook Selfie E-KYC account(Lite) and Federal Bank FedBook Selfie account.
Fedbook Selfie E-KYC Account can be opened Instantly with Aadhaar Registered Mobile Number, Aadhaar Number, and Pan Card Number.
Account Opening Process: You can open FedBook Selfie E-KYC bank account instantly through your PAN, Aadhaar number and Aadhaar registered mobile number. The account is activated within minutes.
Once you successfully create your FedBook Selfie account. You need to visit a bank branch to activate your bank account.
How to Apply FedBook Selfie Account and FedBook Selfie E KYC Account.
You have to go through the following given points carefully.
Steps-1
You have to download Fedbook Selfie App From the Google Play Store and iOS App Store
Steps-2
Enter your mobile number and click on ‘Proceed’ to continue. OTP will send to your mobile fill and proceed to the next level.
Steps-3
In this Step, you have to choose FedBook Selfie Account and FedBook Selfie E KYC Account or FedBook Selfie Lite.
As per selections of your account type. You have to fill in your account details.
FedBook Selfie Account:
- Clear and formal Photo of your Selfie.
- Take a photo of your Aadhaar card or Scan your Aadhaar card QR code
- Scan your Pan card
FedBook Selfie E KYC Account:
- Add your details.
- you have to add the Aadhaar number or Scan the Aadhaar QR code.
- You have to verify the OTP received on your Aadhaar registered mobile number.
- Click a copy of your PAN card.
- You have to add a PAN number and other basic details will be auto-populated.
- You can add other required details, communication address (if it differs from the Aadhaar registered address).
After the above details accordingly, you can set up your mobile banking PIN through which you carry out the various banking transactions. Take a screenshot for future reference and Charges for your banking services.
We should keep a bird eyes views regarding Banking Charges Updates for the sake of our hard earn money.
1- You can apply a cheque book of 5 cheques and it would be issued at Rs.5 per leaf.
2- You will get a Debit card – Rs.300 + GST would be charged as an annual debit card fee.
3- You will get SMS Alert – Rs.0.50 per SMS or per alert.
4- Beyond these transactions, Rs.25 + GST (up to a maximum of Rs.100 per day) would be charged.
Things need to keeps in mind for your undisrupted banking services.
1- There are transaction limitations that shall not exceed Rs. 1 Lac for FedBook Selfie Lite Account.
2- FedBook Selfie Lite – Aggregate credits should not exceed Rs. 2 Lac per year.
3- For uninterrupted banking services FedBook Selfie Lite Account holder needs to complete KYC in a year.
4- No Cheque Book is issued in the account under this scheme.
5- FedBook Selfie Lite account holder can’t cash withdrawal and deposit across at the counter.
FAQ
1-What is a Federal Bank selfie account?
This is designed for the latest banking scenario for the Low to High earning Individual section of India.
Anyone can open FedBook Selfie – the Federal Bank mobile app.
2-What are the Eligibility Criteria to open Insta Save Account by ICICI Bank?
Any Individuals having Indian citizenship of more than 18 years of age.
You can open the account yourself using your Aadhaar and PAN cards. In this NRIs NREs, and NROs is eligible for this account.
- Is this Mandatory to provide Aadhaar and PAN?
Definitely Not.
4- Is there any Initial Amount required to open this account?
No.
5- How I get a Cheque book with Insta Save Account?
No Cheque is allowed in this type of account.
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