Federal bank has been always ready for providing the best services to their customers. If the customers want to earn profits on the money saved in their account, then they should open their savings account in the Federal Bank. The bank has provided various benefits to the people for opening their savings account like internet banking, fund transfers, online bill payment facilities and much more.
The Minimum Balance limit
The minimum balance requirement in each of the savings account holder is minimum of 50 rupees remittance and maximum of 5000 rupees per instance. The customers will need to make sure that they keep the minimum balance in their account decided by the bank which is given in detail on the bank’s website that is https://www.federalbank.co.in/savings-accounts.
The non-maintenance charges
In case, you are not able to keep the minimum account balance in your account, then you will need to pay the amount according to your type of account. For all of the rural and senior citizens, the bank has proposed 20% of shortfall with 27 rupees charges and 30 rupees charges for the others account. In the shortfall case which is above 20% and below 40%, the account holder of rural and senior citizens will need to pay 54 rupees and the others will need to pay 60 rupees.
When the shortfall of above 60% will be seen, the senior citizens and rural people will need to pay an amount of 108 rupees and the other account holders will need to pay an amount of 120 rupees. The amount for the shortfall of 80% to 100% for the senior citizens is of Rs. 135 and for others it is of Rs.150.