Federal Bank

Federal Bank
4.5

Federal Bank has long been known for its commitment to excellence in providing a wide range of financial services to its customers in the most customer-friendly manner. They have shown tremendous growth prospects in the banking sector by catering to many customer needs.  Whether you need a Federal Bank Loan or want to open a savings account, the bank has the easiest solution to your requirements. Their comprehensive suite of Federal bank services includes savings and current accounts, fixed deposits, credit cards, and online banking facilities for seamless transactions. 

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Loans offered by Federal Bank

Federal Bank LoansInterest RateProcessing FeeLoan Amount/Tenure

Federal Bank Personal Loan

10.49% - 17.99%

Up to 3% of loan amount

₹50K - ₹50L

Tenure(1 - 5 Years)

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Federal Bank Home Loan

8.8% - 10.25%

Up to 3% of loan amount

₹15L

Tenure(1 - 30 Years)

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Federal Bank Loan Against Property

12.6%

1% of the limit sanctioned with a minimum of Rs.3000/-

₹50L - ₹3Cr

Tenure(1 - 10 Years)

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Federal Bank Business Loan

11.1% - 16%

Up to 3% of the loan amount

₹1L - ₹2Cr

Tenure(1 - 10 Years)

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Features and Benefits of Federal Bank

Federal loans and other products offered by the bank stand out because of their unique characteristics. Take a look at the bank's highlighting features.

  • Global Presence: The Federal Bank has expanded its footprint with representative offices in Abu Dhabi, Qatar, Kuwait, Oman and Dubai. The bank’s first international representative office was opened in Abu Dhabi in 2008.
  • Robust Network: Customers can easily access Federal Bank services because of its widespread network of branches. The bank has over 1000 domestic branches and ATMs catering to over 16 lakh Indian customers.
  • Digitally Advanced: The bank’s motto is ‘Digital At The Fore, Human At The Core’. Federal Bank allows its customers to digitally access almost all its services.
  • Inclusive Banking: The bank has also ensured catering to the country’s underserved and underbanked sectors. The Federal Bank products are easily accessible in rural as well as urban areas.
  • Committed to Small-scale Businesses: Small-scale businesses are India’s commercial future. The bank pledges support to such businesses by extending easy loans and other financial services.
  • High Returns: Customers can earn soaring returns on their deposits with Federal Bank. For example, a return of up to 8.05% can be earned over fixed deposits with the bank.
  • Feddy, the Virtual Assistant: Federal Bank’s virtual assistant, Feddy, assists customers with their banking queries. Personalised assistance helps customers forge a personal connection with the bank.
  • Covers all customers: Apart from salaried applicants, the bank has designed specific products for women and children applicants.

Federal Bank Overview

The Federal Bank is one of India’s major private-sector banks. The bank offers a complete range of Personal, NRI and Business banking services to its customers. Federal Bank loans, cards and investment services are some of its more popular offerings.

Almost a century old, the bank was originally established in 1931. It was initially called the Travancore Federal Bank Limited. Today, the bank is headquartered in Kerela’s Kochi city and enjoys a global presence. Let’s take a detailed look at all the products and services offered by the bank.

Services Offered by Federal Bank

Federal Bank service is much more than just personal, business and NRI banking. Let us take a detailed look at their highlights. 

Personal Banking

Personal banking caters to customers’ personal financial needs. Federal Bank’s personal banking section is divided into three subsections - Products, Payments and Ways to Bank. The ‘Products’ section includes Federal Bank loans, cards, accounts and investment services. The ‘Payments’ section caters to fund transfers and bill payments. Finally, the ‘Ways to Bank’ section provides the available ways to access the Federal Bank services. 

Business Banking

Business banking aims to financially empower businesses and business owners. Business-related Federal Bank products are divided into the same 3 subcategories as personal banking. The bank’s vast range of business banking products includes accounts, loans, fund transfers and corporate/trade financing among others.

NRI Banking

Different types of NRI accounts and loans are offered by the bank to its customers. The bank also offers remittance services to its NRI customers in countries like India, the Middle East, the United Kingdom and others. With NRI Banking, customers can access banking services in India from any part of the world at any point in time. 

Priority Banking

Priority banking is designed to offer premium banking services to select Federal Bank customers. Personalised banking and special offers distinguish it from the other Federal Bank services. Some of its highlighting products are concierge services, wealth management services and exclusive savings accounts. 

API Banking

API banking is offered by the bank to its business banking customers. The bank offers these services to corporates, fintech, startups and technology companies. Federal Bank’s API services allow their client to securely access a variety of facilities on the go. More than 1/6th of India’s total foreign inward remittances are handled via Federal Bank’s remittance APIs.

WhatsApp Banking

WhatsApp Banking is a part of the bank’s digital infrastructure. Customers can contact the bank at  9633 600 800 to access Federal Bank services at their fingertips. Users can apply for pre-approved loans and make enquiries using Federal Bank’s Whatsapp Banking services. 

Investment & Insurance Services

Federal Bank’s investment services assist its customers in wealth generation. Investment choices like FD, RD, Demant accounts and Sovereign Gold Bonds among others are provided by the bank. 

The bank’s insurance services offer protection against unanticipated risks to its customers. The bank offers Life Insurance, General Insurance and Health Insurance services to its customers. 

FedMobile

FedMobile is the bank’s official mobile banking app. The application brings 100+ banking services to the customers' fingertips. Users can pay utility bills, manage their accounts, make investments and much more using the intuitive interface of the app. The app can be downloaded from mobile app stores. 

Federal 24 7

Federal 24 7 refers to the bank's 24x7 assistance regarding the opening of savings bank accounts. The bank allows customers to open savings accounts from the comfort of their homes, without any branch visits. Paperless applications and Video KYC make for a hassle-free banking experience.

FAQs

From refinancing to reducing your interest, we have the answers right here.

Is the Federal Bank a government bank?

Federal Bank is one of the leading privately held banks involved in the commercial sector in India.

Who is the owner of Federal Bank?

Mr. Shyam Srinivasan is the Managing Director and CEO of Federal Bank.

Can I open a Federal Bank account online?

Yes, you can open a bank account with Federal Bank by submitting an online application and completing the KYC process.

Can I get a loan from the Federal Bank?

Yes, the Federal Bank provides loan options sanctioned against your deposits with the bank. An applicant can avail of a loan of up to 90% of the deposit amount.

What is the minimum balance in the Federal Bank?

The minimum balance to be maintained in most Federal Bank accounts is Rs. 5000. The minimum balance required for a Pride Savings Account is Rs. 2000.

Does the Federal Bank have a zero balance savings account?

Yes, Federal Bank offers a Basic Savings Bank Deposit Account is essentially a zero balance savings account. This offering comes with a free ATM card, cheque book and monthly statement.

How do I complain to the Federal Bank?

You can get a complaint registered via calling on their toll-free number 1800-420-1199 or mailing them at support@federalbank.co.in.

Where is the head office of Federal Bank?

The Federal Bank headquarters is located in Kochi, Kerala.

How can I know my IFSC code of Federal Bank?

You can always find your Federal Bank IFSC code on the bank’s passbook and chequebook. Alternatively, if you know the branch name and address, you can also find the IFSC code on the bank or RBI website.

What is the SWIFT code in Federal Bank?

The SWIFT code for Federal Bank is FDRLINBBIBD.

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