What is the minimum balance IN Federal Bank current account?

What is the minimum balance IN Federal Bank current account?

5,000. The bank levies a penalty of Rs. 200 for non-maintenance of the monthly average balance. Account holders can withdraw up to 15 times the amount of their minimum average balance of the previous month.

Can we open federal bank account online?

Click "Apply Online" button and submit the required details through online application. An email containing the account opening form & checklist of KYC documents will be sent by the Bank to your email address. Take Printout of the application form, sign it and affix photograph.

Is federal bank good for current account?

Features and Benefits 20 free cheque leaves per half year. Free monthly email statements. Internet Banking and Mobile Banking facilities available. Free E-mail alerts.

Which bank is best for current account?

Best Banks for Current Account

Can I open a zero balance current account?

Can I open a zero-balance current account? Yes, zero-balance current accounts can be opened by anyone.

What is the limit of current account?

Monthly Average Balance (MAB) Requirement on Basic Current Account of Different Banks

Is Federal Bank zero balance?

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.

Is Federal Bank is a government bank?

Federal Bank Limited is an Indian private sector bank headquartered in Aluva, Kochi, Kerala. The bank has 1,336 branches spread across different states in India. It also has representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.

Can I open zero balance account in Federal Bank online?

Instant Account Opening within Seconds 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.

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 bank is better federal or Icici?

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

Which bank is good federal or HDFC?

HDFC has an average customer ratings of 4.5, while Federal Bank has an average customer rating of 3.5, based on which it is clear that HDFC has a high customer service focus, an easy Home Loan process and a quick turnaround.

What are the 4 types of Current Account?

​​​​​​​Read more Current Account Minimum Balance here.

• Packaged Current Account: The Packaged Current Account is one of those types of Current Account, which is in between the premium account and standard Current Account.
• Foreign Currency Account :
• Single Column Cash Book :

Can I have 2 current accounts with different banks?

1. You can't have more than one current account. In a word – false. You can have as many current accounts across as many different financial institutions as you like.01-Sept-2021

Can a normal person get Current Account?

Current Accounts (C/As) can be opened by individuals, partnership firms, private and public limited companies, HUFs/ specified associations, societies, trusts etc. Formalities/procedures relating to introduction and opening of Current Accounts for individuals are same as those mentioned for Savings Bank Accounts.13-Sept-2019

Which bank has zero balance current?

Best Bank for Current Account However, ICICI and Axis Bank are the best banks as they offer an option of Zero Balance Current Account. RBI allows exemptions on opening new current accounts.

Which documents required for current account?

Individual documentation: (Identity Proof - anyone of the following documents)

• PAN Card.
• Driving Licence.
• Passport.
• ID cards issued central & state govt.
• Passbook scheduled commercial bank.
• Marriage certificate.
• Voters ID card.
• Aadhar Card.

How can I open a current account for free?

How to open a Current Account?

• Check your eligibility criteria for opening a Current Account.
• Download the account opening form from the bank's website.
• Fill up the opening form with all the relevant and necessary details.
• Collect the list of documents that will be required by the bank.

Is GST compulsory for Current Account?

The GSTIN is not mandatory when you set up your Current Account with any bank. However, when you register under the GST scheme, you do require a functional Current Account. Therefore the business owner does not have to pay GST on Current Bank Account set up or functioning.

Is Current Account tax free?

As we mentioned earlier that a Current Account is a zero-interest account, there is no tax on Current Account.

What is rule of Current Account?

1 Borrowers can open current accounts with any one of the banks with which it has CC/OD facility, provided that the bank has at least 10 per cent of the aggregate exposure of the banking system to that borrower.19-Apr-2022

What is the minimum balance IN Federal Bank current account?