Federal Bank Basic Savings Bank Deposit Account (BSBDA)

Account Name

Basic Savings Bank Deposit Account (BSBDA)

Category

Savings Account

Eligibility

1. Resident individual, either sole or joint is eligible to open this account.
2. Minors are not eligible to apply for this account independently.
3. Minors can apply jointly with a guardian such as the mother. The account is allowed to be operated only by the guardian.

Average Monthly Balance

No need to maintain any minimum balance

Interest

1. Less than Rs.50 lakh: 3.50% (uniform rate for the whole balance)
2. Rs.50 lakh to Rs.10 crore: 4% (for the remaining balance of Rs.50 lakh and above)
3. Rs.10 crore to Rs.25 crore: 3.50% for amount up to Rs.1 lakh, and 6.30% for the remaining balance in excess of Rs.1 lakh
4. Rs.25 crore and above: 3.50% for amounts up to Rs.1 lakh, and 6.51% for the remaining balance in excess of Rs.1 lakh

Debit Card

Not Available

ATM Card

Available (Proprietary)

Federal Bank Debit Card Transactions at other Bank ATMs

1. Financial transaction - Rs.20 per transaction
2. Non-financial transaction - Rs.10 per transaction

Charges for not maintaining the Average Minimum Balance (Monthly)

1. Upto 20% - Rs.27
2. Above 20% to 40% - Rs.54
3. Above 40% to 60% - Rs.81
4. Above 60% to 80% - Rs.108
5. Above 80% to 100% - Rs.135

1. Upto 20% - Rs.30
2. Above 20% to 40% - Rs.60
3. Above 40% to 60% - Rs.90
4. Above 60% to 80% - Rs.120
5. Above 80% to 100% - Rs.150

Cash Remittance at anywhere else other than home branch (Anywhere Banking Charges)

1. Rs.50 is charged per transaction or 50 paise per Rs.1000, whichever is higher.
2. First 4 remittances lower than Rs.10,000, is allowed for free.
3. If AMB is maintained at Rs.50,000 in the previous month, AWB charges are waived off.

Cheque Book Charges

Free - 1 per financial year

Monthly Account Statement

Free of charge

Charges for Closing of Account

1. Within 6 months - Rs.100
2. After 6 and before 12 months
3. Rural/Senior Citizens - Rs.50
4. Other - Rs.100