FedFirst
Features & Benefits
| 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 parent opening a premium*account OR by opening an RD# in the name of the minor.
**Premium SB account defined as SB account with scheme AMB >=Rs.25,000
#Minimum RD amount of Rs. 2000/- for minimum period of 1 year to be eligible for SB account AMB waiver till the maturity period of the RD.
Minimum balance charges will be waived subject to:
- Parent/guardian opening a premium* account OR
- Opening a Recurring Deposit# in the name of the minor.
# Minimum Recurring Deposit amount: Rs. 2,000/- for minimum period of 1 year to be eligible for SB account Average Monthly Balance waiver till RD maturity.
Documents Required
|
Age category |
Single Mode |
Guardian mode |
|
0-10 years |
Not applicable as accounts cannot be opened with single mode of operation |
|
|
10-18 years |
|
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