- Application money remains in investor's account till allotment is finalized and he continues to earn interest on the application money in SB Account till the amount is transferred to the Registrars on allotment (From 01/04/2010 interest on SB accounts are on daily balance).
- Investors need not write cheques or purchase Demand Drafts (DD) towards application money.
- Investor need not bother about refunds since money remains in his/her account and once allotment is made the required money for the allotment will be paid to the company/issuer/Registrars and otherwise the amount blocked will be released.
- Application form is simpler than the conventional one. For online applying no form is required.
- ASBA facility in Federal Bank is available to all investors banking with us.
- Open a Saving Banks or Current Account with us and opt for FedNET and apply online through our ASBA Module.
- Customers without FedNET facility shall submit physical applications to any of our branches.
Earn interest on your application money till allotment of units.
Old Techniques Eliminated
Writing of cheques and purchase of DD is completely eliminated.
ASBA facility in Federal Bank is available to all investors banking with us