FedSalary Premium

Complimentary insurance cover worth up to Rs 1 Cr available*

Nominee Insurance – 15 Lakhs

Air Accidental death cover - Rs. 50L

Dependent Child Education Benefit - ₹50,000/- (25,000/- per child for 2 children

Personal Accidental Death Cover, PTD & PPD# - Rs. 35L*

Debit Card Protection up to Rs. 1L 

Ambulance charges cover up to 5000/-

*Hospital Cash Facility available @1500/day for 10 days per year

* Conditions apply

Salaried persons with a net salary of Rs 30,000 and above are eligible to open the account 

In case the monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under the said Account stands withdrawn and the account shall be treated as a Normal Savings Account under our standard charge structure and Avg. Monthly Balance (AMB) is required to be maintained, and all charges shall be levied and applied as applicable to Normal Savings Bank accounts. Click Here to Know More

Customers will become eligible for the scheme features only after the initial salary credit is received in the account. For insurance features, all other eligibility conditions mentioned in the Terms & Conditions will also apply.

Salaried persons with a net salary of Rs 30,000 and above can open Fed Salary Premium Account.

KYC Documents Required (Any one address proof and identity proof)

Recent photograph

• Two copies of recent passport size photograph
• Employer Introduction letter/ Employee ID Card

• Insurance coverage is extended only to primary account holders.
• Customers in the age group of 18 – 65 will only be covered.
• Insurance coverage will be live from 60^th day of customer on boarding (i.e. Account opening / upgradation date) and will be valid for next 12 months.
• Insurance coverage will be valid only if the customer was maintaining primary and secondary eligibility criteria mentioned above in the past 3 months prior to the incident.
• Insurance coverage will be automatically renewed every year if the customer is maintaining the scheme eligibility criteria.
• For claiming air accidental coverage, airline ticket should be purchased using the Federal Bank debit card.
• The claim shall be payable under any one section: Accidental Death or Air Accidental Death.
• Debit card liability cover for salary clients will be valid only for primary debit cards.
• Police and defense accounts covered only on off-duty basis.
• Claim Intimation: within 30 days of accident.
• Insurance Coverage is for accidental death or Permanent Total Disablement (100%)/PPD

Hospital Cash

₹1,500/day for max 10 days with 1-day deductible.

Waiting Period for Hospital Cash Facility

• General Illness: 30 days
• Specific Illness/Procedure: 24 months
• Pre-existing Diseases: 48 months

Nominee insurance (Applicable to only 1 nominee)

• PA / PTD to the nominee, unseen unfortunate event caused due to external means - Indemnity Limit - ₹15 Lakhs
• Nominee should be an immediate family member (parents, siblings, spouse and children)
• If nominee age is less than 18 or greater than 60, the claim admissible will be ₹1.5 lakhs.
• In case of spouse the claim admissible is ₹7.5 lakhs
• In all other cases - full applicable amount of ₹15 lakhs will be paid to the primary account holder.

Dependent Child Education Benefit

₹50,000/- for 2 children (₹25,000/- each) on death of Primary Account Holder.

Road Ambulance

₹5,000/-(covered up to ₹5,000/- or actual whichever is lower

Conditions for Card Liability/Purchase Protection

Purchase protection: Sum insured: Rs. 1 Lakh

Scope of coverage - The item purchased using the primary debit card will be covered against the following perils:

• Theft
• Burglary
• The cover is applicable for primary cards only. Add-on Cards are not covered.
• Lost or Stolen card coverage - up to Rs. 1 Lakh will pay in respect of the debits or transactions established against the Insured/Insured Person resulting only from the unauthorized use of any lost or stolen card issued by the Insured named in the Schedule.
• Lost or Stolen card claim is to be reported within 7 days with a Police FIR
• Card Liability
  1. Pre and post reporting clause (30 days) is applicable for Card Liability Cover.
  2. Losses arising as the result of break-down, malfunctioning, hacking, cyber-attack or other similar systemic issues on or of the systems and processes of the bank shall not be covered under the policy.
• Unauthorized transactions post card is stolen or lost is only covered.
• Policyholder to provide Intimation of claim within 30 days from date of loss/ blocking by the insured.
• Fraudulent transactions done by person known to the cardholder are specifically excluded.

Person known to the cardholder means an Insured Person’s Spouse; children; children-in law; siblings; siblings-in-law; parents; parents-in-law; grandparents; grandchildren; legal guardian, ward; step or adopted children; step-parents; aunts, uncles; nieces, and nephews, maids, servants, person who have access to card and pin

Master Policy Number Policy No 590000/48/2026/4690

All claims must be routed through the designated insurance broker.

Particulars to be provided for Claim notification

1. Policy Number
2. Name of the Insured Person(s) named in the Policy schedule/Certificate availing treatment (if applicable)
3. Nature of disease/illness/injury (if applicable)
4. Name and address of the attending Medical Practitioner/Hospital (if applicable)
5. First Information Report and Final Police report, wherever is necessary.

Claims documents to be submitted for Claim Submission

1. Final settlement bill
2. Hospital receipt
3. Discharge summary
4. Duly filled claim form
5. KYC documents
6. Cancelled cheque

Additional documents (if applicable):

1. Police papers in case of an accident
2. Medical reports (X-ray, Scan, MRI, etc.) along with relevant bills, as per case merits

If any additional documents not listed above are required, the insurer will notify the customer at the time of claim registration.

Sum Insured Payable

1. Permanent Total Disablement -100%
2. Permanent and incurable insanity -100%
3. Permanent Total Loss of two Limbs (physical severance or the total and permanent loss of use) 100%
4. Permanent Total Loss of Sight in both eyes -100%
5. Permanent Total Loss of Sight of one eye and one Limb (physical severance or the total and permanent loss of use) -100%
6. Permanent Total Loss of Speech -100%
7. Complete removal of the lower jaw- 100%
8. Permanent Total Loss of Mastication -100%
9. Permanent Total Loss of the central nervous system or the thorax and all abdominal organs resulting in the complete inability to engage in any job and the inability to carry out Daily Activities essential to life without full time assistance- 100%
10. Permanent Partial Disablement - Percentage As certified by treating doctor

Exclusions

1. Injury caused by surgery
2. Nuclear energy risk
3. Professional activities of military personnel
4. Offshore activities
5. Accidental Death or Permanent Disablement due to pregnancy or childbirth
6. Insect / mosquito bite
7. Terrorism due to nuclear / chemical / biological risk
8. Adventure sports
9. Epidemic / Pandemic
10. War