Fed Salary

• Salaried persons with a net salary of Rs 10,000 and above are eligible to open the account
• In case the monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under the said Account stands withdrawn and the account shall be treated as a Normal Savings Account under our standard charge structure and Avg. Monthly Balance (AMB) is required to be maintained, and all charges shall be levied and applied as applicable to Normal Savings Bank accounts. Click Here to Know More
• Customer will be eligible for Insurance coverage/ scheme features only after initial salary credit in account.

Conditions for PA Coverage

• Insurance will be live from 60th day of customer onboarding (i.e Account opening / scheme change) and will be valid
  for next 12 months.
• Customers in the age group of 18 – 65 will only be covered.
• Insurance facility is provided only for the accounts opened in FedSalary scheme after 01/11/2021
• Insurance coverage will be automatically renewed every year if the customer is maintaining the FedSalary eligibility criteria.
• Coverage will be valid only if the customer was maintaining the salary credits for the last three months from the claim date.
• There should be at least one succesful customer initiated transaction within 30 days prior to date of accident including accident date on POS.
• Base cover of Rs. 300,000/- per card by doing one ATM / POS / e-commerce transaction up to 50 days prior to the date of loss.
  Accelerated cover up to Rs. 700,000 (Total Base + Accelerated cover to be Rs.1,000,000 max).For every additional POS / e-commerce transaction carried out through
  the Primary Debit Card up to 365 days prior to the date of loss, sum insured increases by Rs. 100,000/- per transaction.
• POS and E commerce transactions done through primary debit card associated with the account within 30 days of date of incidence will be considered for SI enhancement.
• Passbook Entry, ATM and Micro ATM POS transactions (Cash Withdrawal) are excluded from the scope of the policy.
• Only the primary account holder will be eligible for the complimentary services offered in the scheme.

Conditions for Air accidental Coverage

• For claiming air accidental coverage, airline ticket should be purchased using the Federal bank debit card.
• The claim shall be payable under any one section: Accidental Death or Air Accidental Death.

KYC Documents (Any one address proof and identity proof)

Recent photograph

Two copies of recent passport size photograph

Employer Introduction letter/ Employee ID Card