Is there zero balance account in federal bank?

Is there zero balance account in federal bank?

Basic Savings Bank Deposit Account (BSBDA) is a Zero Balance Savings Account that takes care of your simple banking needs with Free ATM card, monthly statement, and cheque book.

Which bank has lowest minimum balance?

List of All Banks Savings Account Interest Rates and Minimum Balance 2022

What happens if we don't maintain minimum balance in federal bank?

You can be penalized for not keeping the minimum balance. There is no limit on the penal charges that a bank will charge for the non-maintenance of the minimum balance. The charges have to be approved by the bank's board. Charges will vary from bank to bank and from branch to branch as well.25-Feb-2022

What is monthly average balance in federal bank?

Minimum Balance Requirements for Federal Bank Savings Accounts

What is ATM fee in Federal Bank?

Current account schemes ₹50/- per transaction or ₹0.50 per ₹1000/- whichever is higher. First 4 instances of remittances for amounts less than or equal to ₹10,000/- will be free in a month.

Is Federal Bank good?

Each and every transaction is safe and secured. Their service is fine. Mobile app and net banking services are good. 0.5 4.0/5 "Great!"

Which bank account is cheapest?

Best no-fee checking accounts

What is minimum balance for savings account?

The minimum average monthly amount for the bank's regular savings accounts is Rs 10,000 for metro areas, Rs 5,000 for semi-urban areas, and Rs 2,000 for rural areas.03-Aug-2022

Which bank can open 0 balance account?

Axis Bank offers a Zero Balance Savings Account also called Basic Savings Account as part of the Pradhan Mantri Jan-Dhan Yojana Scheme. The account offers benefits such as free cash deposits, access to over 4000 Axis Bank branches and 14,000+ ATMs across India and Internet and Mobile banking services.

What if my bank balance goes below 10000?

If the bank goes below the level required the bank charges you a penalty ranging from Rs 600 to Rs 150 depending on the amount of balance. For example, if the balance falls below Rs2500 then Rs 600 penalty is charged and if it is between 7,500 and less than Rs10,000 it is Rs 150 (for metro and urban accounts).24-Aug-2022

How can minimum balance fees be avoided?

Keep at least the minimum balance required in your account. This helps to avoid monthly fees and accidental overdrafts. Keep multiple accounts at your bank. Many banks are looking at the entire customer relationship and may offer free services if you maintain both checking and savings accounts with them, for example.

How do you avoid minimum balance charges?

You can open a zero balance account by completing the know your customer (KYC) formalities, and the biggest advantage of such accounts is that there is no need to maintain a minimum balance. “Most banks offer a zero balance account where the MAB you need to maintain on both a monthly and a quarterly basis is zero.03-Aug-2020

What is a minimum monthly balance?

MAB or monthly average balance, as the name suggests, is the minimum amount your account must have on average at any point in the month. Unless you have a zero-balance current account or savings account, you must maintain the minimum average balance stipulated by your bank in your account each month.24-Nov-2022

What is minimum balance in SBI?

Minimum balance in SBI bank savings account 1000 monthly in rural areas. In semi-urban areas, the AMB is Rs. 2000, and in the metro city, the account holder has to maintain an AMB of Rs. 3000.06-Sept-2022

How to open Federal Bank Zero balance account?

Open an account with Federal Bank using FedMobile app without going to the bank. All you need is your Aadhar card with your mobile number linked to it. With eKYC account opening, you will be able to open a zero-balance account that will be activated instantly.

Can I withdraw 100 rupees from federal bank ATM?

Cash machine will accept and dispense cash in denominations of Rs. 100/-, Rs. 500/- and Rs. 2000/-.

Which ATM card is best in federal bank?

Rupay Platinum International Debit Card You get daily shopping limit of Rs 3,00,000 and a daily cash withdrawal limit of Rs 50,000. This means you access the total limit of Rs. 3,50,000.10-Dec-2022

What is the limit of federal bank ATM?

Features

Which is best SBI or Federal Bank?

Which is a better bank for Home Loan – SBI or Federal Bank? SBI offers lower Home Loan EMI at ₹ 765 on a Home Loan for 30 Years as compared to Federal Bank with a minimum EMI of ₹ 845 for 30 Years. Average customer ratings for SBI is currently at 4.2/5.0 which makes it a good choice for taking a Home Loan.

Which is better axis or Federal Bank?

Axis Bank is most highly rated for Job security and advancement and Federal Bank of India is most highly rated for Job security and advancement.Overall Rating.

Is Federal Bank better than HDFC?

Federal Bank with an average customer rating of 4.5 is equally comparable to HDFC Bank with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.

Is there zero balance account in federal bank?