How it works?
- The maintenance fee collection data provided by the Housing Society/Residents' Association is integrated with the Bank's data base.
- Members/Tenants/Owners shall be allotted with a Virtual Account Number which will be their Unique ID.
- Payments can be made to the Virtual Account Number.
- The Bank generates daily reports and sends them to the registered e-mail id of the Housing Society/Residents' Association.
- Institutions can also download the reports from a customized Admin Module developed exclusively for their institution.
Payment Options for Members/Tenants/Owners
- Cash/ Cheque deposit at any Federal Bank branch
- NEFT/RTGS from other Banks
- Any Debit/Credit Cards
- Internet Banking of any Bank.
What the institution have to do?
- Open an account with us for pooling the maintenance fee.
- Provide the data of Members/Tenants/Owners for allocation of Unique ID.
- Simple and easy solution for the Housing Society/Residents' Association.
- Members/Tenants/Owners can use different payment channels.
- Fee Collection not restricted to any single location/branch – fees can be remitted at any branch of Federal Bank and also online.
- The Housing Society/Residents' association will be provided a customized Admin Module developed exclusively for them.