5 Reasons Why Shreni Savings Account Is Perfect for Associations

Associations, trusts, clubs, and non-governmental organisations (NGOs) play a very important role in promoting social causes and encouraging community development. To support these organisations and to match their financial requirements, Federal Bank has designed a unique savings account- the Shreni Savings Account. Unlike other savings accounts, this account offers multiple benefits that enable associations to manage their finances, streamline their operations, and focus on their mission.

Here are five reasons why Federal Bank's Shreni Savings Account is the perfect banking solution for an association.

1. Free Internet and Mobile Banking 

Today, the majority of transactions take place digitally, and convenience is crucial for the efficient management of the finances of any association. With the Shreni Savings Account, associations get complimentary access to Internet and mobile banking facilities. This enables them to execute banking transactions, access bank account statements, monitor activity, etc., anywhere, anytime. This feature helps associations conduct their banking operations seamlessly and conveniently.

2. Cost-saving Features: Free Cash Withdrawal and Cheque Book

Just like any other organisation, an association also prioritises managing its operational costs. The Shreni Savings Account offers cost-saving features that prove to be beneficial to associations, such as free cash withdrawal and a complimentary cheque book. Additionally, associations can also avail of the unlimited issue of demand drafts through this account. This helps in reducing banking-related expenses as the charges for some of these essential banking services are eliminated.

3. No AMB Stipulation and 50 Free Transactions per Quarter

There are challenging times when cash flows fluctuate which makes it tough for the association to maintain an average monthly balance (AMB). Federal Bank’s Shreni Savings Account benefits an association, as it offers them a “no AMB stipulation” i.e., the association can operate its account without stressing about the minimum balance requirement to be met every month. Furthermore, this account also allows the association to enjoy 50 free transactions per quarter!

4. Free NEFT and Waived RTGS Charges

Seamless fund transfers are a crucial element for every organisation to ensure their payments, receipts, and any financial transactions take place without any hassle. The Shreni Savings Account offers associations free NEFT services. It also waives off the RTGS charges provided the association has maintained an AMB higher than ₹1,00,00 in the previous month. This amazing feature helps associations transfer funds cost-effectively.

5. Tailored for Diverse Organisations

Federal Bank has designed the Shreni Savings Account to match the unique requirements of associations. The account offers a lot of benefits like free mobile banking services, free mobile and email alerts, free NEFT, unlimited issue of demand drafts, etc. This versatile account helps associations of different sizes and purposes.

Conclusion

Federal Bank’s Shreni Savings Account offers a wide range of banking services that have been designed specifically to match the requirements of associations. The features range from free Internet and mobile banking services and no AMB stipulation, to free fund transfer services. Associations can opt for the Shreni Savings Account and not only enjoy cost savings, and financial flexibility but also focus on their core objectives. So do not delay- empower your association by securing the Shreni Savings Account today and take off on a path of enhanced financial management!