FedFirst

Features & Benefits

FedFirst is a customized savings account exclusively for Children- Make Your First Bank account special with Federal Bank’s FedFirst, an exclusive product crafted for your first step towards spending and saving smartly.
 
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Children up to age of 18 years (both Resident and NRIs) can apply for this account. 
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Access your pocket money 24x7 with Contactless Debit Card:
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Free Mobile alerts & Free E-mail alerts
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Reward points and seasonal cashbacks on Debit Card
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Exclusive deals and offers on your favorite Brands
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Free standing instruction facility from the account of parent to children
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Zero Debit Card Issuance Charge. Nil Debit card AMC subject to an annual spend Rs.35,000/- via POS/ECOM
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Recurring Deposit Facility- Save your pocket money and invest small amounts as Recurring Deposit to make your dreams come true
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Systematic Investment Plan- Invest in mutual funds and get great returns on your investments through your FedFirst account.

 

Daily Cash withdrawal limit at ATMs Daily shopping limit at POS / E-com
Rs. 2,500 Rs. 10,000 (includes Daily Contactless transaction limit  of Rs. 5000/- )

Eligibility

  • Children up to age of 18 years (both Resident and NRIs) can apply for this account. 
  • In case of minor below 10 years the account shall be opened with parents/guardians as Authorized Signatory. 
  • Minors above 10 years may open account in their sole name and operate savings bank accounts independently.
  • To open FedFirst savings account, you may please visit your nearest Federal Bank branch.

Balance Requirement

  • Average  Monthly Balance of Rs. 1,000/-*.

 

*Minimum balance charges will be waived subject to:

Documents Required

Age category

Single Mode

Guardian mode

0-10 years

Not applicable as accounts cannot be opened with single mode of operation

  • Photographs of Minor and Guardian
  • Minor KYC – Aadhaar / Passport
  • Guardian KYC – Address + ID Proof
  • Form 97 / PAN of Minor and Guardian
    (If Form 97 and Aadhaar are submitted, DOB proof to be submitted. DOB proof can be Passport, Matriculation certificate or mark sheet of any recognized board)
  • Declaration from parent/guardian as described by the Bank

 

10-18 years

  • Child’s photograph
  • Minor KYC – Aadhaar / Passport
  • Minor- Form 97 / PAN
  • Guardian KYC – Address + ID Proof
    (If Form 97 and Aadhaar are submitted, DOB proof to be submitted. DOB proof can be Passport, Matriculation certificate or mark sheet of any recognised board)
  • Declaration from parent/guardian as described by the Bank

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