Retirees' Space is designed to help and guide the retirees of the Bank. The space provides access to the links which help them with the necessary details and documents they may require.

Digital Service Memoir

As a sequel to our digitization journey, we are happy to introduce a new digital platform - Digital Service Memoir. It is an exclusive portal for Pensioners of our Bank, which would serve as a one stop single window and user-friendly interface for their various requirements.

Currently, the following functionalities are enabled in the platform.
 

  • Service Memoir (Digital Pension Book):  Portal to view and download Personal Details, Service Details and Pension Details.  The Pensioner details can be exported in PDF, which would serve as a Pension Book. 
  • Income Tax Portal:  To select Income Tax Regime / Submit Online Investment Declaration, Upload proof for Investments and for viewing and downloading Form- 16.
  • Pension Pass Book: To view and download details of monthly Pension credited and TDS deducted. 

 

 

 

Medical Insurance Scheme

Retirees’ Medical Insurance Scheme 2022–23

 

As already communicated, Retirees’ Medical Insurance Scheme has been renewed for a period of one year effective from 01st November, 2022 in association with National Insurance Company and the TPA for servicing the policy shall be Safeway Insurance TPA.

Policy Numbers 2022-23

Base Policy (Without Domiciliary Policy)

251100502210000221

Base Policy (With Domiciliary Policy)

251100502210000220

Super Top Up Policy

251100502210000222

Web Login and Mobile App of the TPA

Beneficiaries can access the Web Login of the TPA from the website of Safeway Insurance TPA ( www.safewaytpa.in) through the navigation IBA > FEDERAL BANK LTD - RETIREE > EMPLOYEE LOGIN.

 

 

Login Credentials – Web Login

 

User Name

Enter the PF Number (number only)

Password

PF Number + Year of Birth

(Eg. If PF No is 1517 and Year of Birth is 1955, password will be 15171955)

The Mobile App of the TPA (Safeway TPA) can be downloaded either from the website of Safeway Insurance TPA or from Play Store/Apple Store. For first time login, beneficiary need to ‘select your role’ as “Employee” in the App and Sign Up with details as furnished herein below. Thereafter, the Base Policy Number and Employee Code (PF No) may be used for subsequent logins.

 

 

 

Sign up Credentials – Mobile App

 

Company Name

National Insurance Company

Policy Number

Enter the Base Policy Number

Email ID

Enter your e-mail ID

Mobile Number

Enter the Mobile Number

Employee Code

Enter the PF Number (number only)

 

Downloading Health Card

 

E- Card can be downloaded through Web Login (using Employee Login menu) by clicking the “Get Card for Family” button.

E- Card can be downloaded through Mobile App by selecting  E Card and clicking “Get E- Card”.

 

Hard Copy of the Health Card will also be dispatched to the communication address of the beneficiaries by Safeway TPA. 

 

Cashless Facility and Reimbursement

The list of Network Hospitals, where cashless facility can be availed of, is available in the website of Safeway Insurance TPA ( https://www.safewaytpa.in/NetworkHospital.aspx ).

Cashless facility can be availed from Network Hospitals of the TPA by producing the Health Card at the Insurance Desk of the Hospital.

In case Cashless Facility is not available, beneficiaries are advised to intimate the details of hospitalisation to the TPA through the E-mail ID - intimation@safewaytpa.in within 48 hours from the time of admission. For claiming reimbursement, beneficiaries are required to submit the duly filled Claim Format along with relevant Documents/Reports, GST Bills/Prescriptions etc. in original to the TPA, in the address as given below.

Safeway Insurance TPA,

3rd Floor, Govardhan Building,

Chittoor Road,

Ernakulam -682035,

Ph. No. 0484 - 4869980

The Claim Format for reimbursement of hospitalization / Domiciliary expenses and the Guidelines for submitting the claim has been made available in the Bank’s Website – Retirees’ Space.

Useful Links

 

Mobile App  Claim Format  Guidelines

 

 

Contact details of Safeway TPA

 

 

Single Point of contact (SPOC)

 

Department

Name

Contact No

E-mail ID

Safeway Kochi Office

Dedicated CRM

Mr. Sijo Joseph

9205551980

federal.crm@safewaytpa.in

Safeway - Delhi HO

CRM

Ms. Rashi

8287954916

federal@safewaytpa.in

Federal Bank- HO

Safeway Helpdesk CRM

Ms. Salima

8714829225

0484- 2634308

federal.helpdesk2@safewaytpa.in

 

 

Department

Contact Details

Cashless Support

Contact No: 1800-102-5671

Mobile: 9205551980 (Mr. Sijo Joseph)

Email: info@safewaytpa.in

Intimation (Reimbursement)

Contact No: 011-45451300, Ext 205

Email: intimation@safewaytpa.in

Location Wise SPOC

Click Here to access the list of persons to be contacted for City Wise Assistance

 

 

 

 

 

E-Mail IDs for Communication

For Escalation (Level 1)

ibacrm@safewaytpa.in

For Escalation (Level 2)

grievanceiba@safewaytpa.in

Grievances

medicare@federalbank.co.in

HR Department

Extended Window Period for Joining the Policy under Retired Employees’ Medical Insurance Scheme 2022-23

 

Retired Employees’ Medical Insurance Scheme as applicable to the Bank has been renewed for one year effective from 01st November, 2022 in association with National Insurance Company Ltd. Safeway Insurance TPA shall be the new TPA for servicing the policy, replacing Heritage Health Insurance TPA . All types of claims covered under the Retired Employees’ Medical Insurance Policy for the period from 01st November 2022 will be serviced by Safeway TPA.

National Insurance Company has now given an extended window period to the Retired Employees/Family Pensioners /Other Beneficiaries who could not renew the policy for the Year 2022-23 on time, due to various reasons. The key points in this regard are furnished below for the information of all concerned.

  • The window period for renewing the policy has been extended till 30.11.2022 for those beneficiaries who could not renew the policy on time, due to various reasons.
  • The extended window period facility will be available only for those beneficiaries who were covered under the scheme during the Policy Year 2021-22.
  • Those who join the Medical Insurance Policy (for the year 2022-23) as per the extended window period, will be covered under the Policy for the period from 01/12/2022 to 31.10.2023.
  • The beneficiaries would be required to pay the premium amount applicable for the full year, after deducting the applicable contribution from the Bank in eligible cases.
  • Application Form for renewing the Policy has been made available in Bank’s Website – Retirees’ Space – “Annexure 2 - Format for Renewal/Joining IBA Medical Insurance Scheme for the period 2022-23”
  • Those who wish to avail the facility, may submit the duly filled application to HR Department on or before 22.11.2022 through post/courier or through the mail medicare@federalbank.co.in
  • Details of premium and other important points have been made available in Bank’s Website- Retirees’ Space- Medical Insurance Scheme.
  • Applicable premium will be debited from the account of the beneficiary between 25.11.2022 and 28.11.2022.
  • In case of any clarification, please reach us through 0484-2634138/ medicare@federalbank.co.in

 

Retired Employees’ Medical Insurance Scheme- Policy Period 01.11.2022 to 31.10.2023

 

Retired Employees’ Medical Insurance Scheme as applicable to the Bank has been renewed for one year effective from 01 st November,  2022 in association with National Insurance Company Ltd. Safeway Insurance TPA shall be the new TPA for servicing the policy, replacing Heritage Health Insurance TPA. All types of claims in respect of Retired Employees’ Medical Insurance Policy for the period from 01 st November 2022 will be serviced by Safeway TPA.

 

Cashless and Reimbursement Facilities

Cashless facility can be availed by the beneficiaries from the Hospitals coming under the network of Safeway TPA. The list of Network Hospitals, where cashless facility can be availed of, is available in the Website of Safeway Insurance TPA (www.safewaytpa.in). The link for downloading e-card , escalation matrix of the TPA and the login credentials for Mobile App/Web Login etc. will be communicated in due course. In the meantime , for availing cashless facility, beneficiaries may provide the Employee Number and other details at the Insurance Desk of the Hospital and seek their assistance to forward the request to Safeway TPA, for availing cashless facility.

In case Cashless facility is not available, beneficiaries are advised to intimate the details of hospitalisation to the TPA through the e-mail ID - federal@safewaytpa.in / intimation@safewaytpa.in within 48 hours from the time of admission. For claiming reimbursement, employees shall submit the duly filled Claim Format along with relevant Documents/Reports, GST Bills/Prescription etc. in original and forward the same to the TPA in the address as given below. Beneficiaries may retain a copy of the claim documents for future reference.

Safeway Insurance TPA,

3rd Floor ,

Govardhan Building,

Chittoor Road,

Ernakulam -682035,

Ph. No. 0484-4869980

 

Medical Insurance Scheme in respect of Retired Employees of the Bank

 

Date for submission of Application
01.10.2022 to 21.10.2022
Application Submission Mode

Online

Online Submission Portal  

Digital Service Memoir (Retirees’ Space in Bank’s Website)

Period of Debiting the Premium 26.10.2022 to 28.10.2022
Policy Period  01.11.2022 to 31.10.2023

 

The Group Mediclaim Policy under IBA Medical Insurance Scheme, in respect of Retired Employees, falls due for renewal on 01/11/2022. IBA has informed that M/s. National Insurance CompanyLtd.(NIC) shall continue as the Lead Insurer for servicing the Group Mediclaim Policy in respect of Retired Employees for the period from 01/11/2022 to 31/10/2023. Details of Third Party Administrator (TPA) will be communicated in due course.

As informed by the Insurance Company, the following features shall be available in connection with renewal of the current year Policy :-

  1. Family Floater Coverage

    Beneficiaries can avail coverage for Family (Employee and Spouse) by paying the applicable premium.

  2. Single Person Coverage

    Beneficiaries can avail coverage as applicable for a Single Person (only in the case of a Retiree whose Spouse is not alive/divorced or Surviving Spouse of the deceased Employee/Retiree), by paying premium at reduced rates.

  3. Graded Sum Insured

    Beneficiaries can opt suitable coverage (Sum Insured) as per their choice under Base Policy, ranging from Rs.1 L to Rs.4 L for Retired Officers and Rs.1 L to Rs.3 L for Retired members of Award Staff.

  4. Retirees who are not covered under the expiring Retirees’ Policy pertaining to the period 01.11.2021 to 31.10.2022 can also join the Retirees’ Policy for the period 01.11.2022 to 31.10.2023.

The following options are available in connection with renewal of the Policy in respect of Retired Employees for the period from 01/11/2022 to 31/10/2023.

  • Option I - Without Domiciliary Coverage

Under this Option, expenses incurred in connection with hospitalization alone are envisaged in the scope of the Policy and expenses incurred for domiciliary treatments are not covered.

  • Option II - With Domiciliary Coverage

Under this Option, expenses incurred for domiciliary treatments are also covered for a list of diseases, in addition to the hospitalization expenses. However, the coverage for expenses incurred in connection with domiciliary treatments shall be capped at a maximum of 10% of the Sum Insured (Example : Domiciliary Coverage for Rs.4 L Sum Insured Policy shall be Rs.40,000/- and that for Rs.3 L Sum Insured Policy shall be Rs.30,000/-)

Available Policies under Option I and Option II

Policies with a range of graded Basic Sum Insured (Rs.1 L to Rs.4 L for Retired Officers and Rs.1 L to Rs.3 L for Retired members of Award Staff) are available under both Option I and Option II. The beneficiaries, after analyzing, may opt for suitable Policy, matching their requirements. NIC has also proposed to extend Single Person Coverage, so as to take care of the requirements of those retirees whose spouse is not alive/divorced or surviving spouses of deceased employees/ retirees, under both the options, by paying premium at reduced rates. Beneficiaries can opt for either Option I (Without Domiciliary) Or Option II (With Domiciliary) Policy of their choice, irrespective of the Option that they have currently subscribed.

Details of available Coverage and Options (With and Without Domiciliary) applicable to Retired Officers and Retired members of Award Staff and the corresponding premium to be paid in connection with renewal/joining of Policy are as given below.

 

1. Officers (Retired)

 Base Policy

Premium Including GST

Option I - Without Domiciliary

Option II - With Domiciliary 

Sum Insured (in Lakh)

Premium to cover Single Person

Premium to cover Family

Premium to cover Single Person

Premium to cover Family

Rs.4 L

Rs.39,020/-

Rs.57,808/-

Rs.65,999/-

Rs.97,776/-

Rs.3 L

Rs.27,901/-

Rs.41,334/-

Rs.52,596/-

Rs.77,920/-

Rs.2 L

Rs.18,600/-

Rs.27,557/-

Rs.34,457/-

Rs.51,047/-

Rs.1 L

Rs.10,333/-

Rs.15,308/-

Rs.17,226/-

Rs.25,520/-

2. Award Staff (Retired)

Basic Policy

Premium Including GST

Option I - Without Domiciliary

Option II - With Domiciliary 

Sum Insured (in Lakh)

Premium to cover Single Person

Premium to cover Family

Premium to cover Single Person

Premium to cover Family

Rs.3 L

Rs.27,901/-

Rs.41,334/-

Rs.52,596/-

Rs.77,920/-

Rs.2 L

Rs.18,600/-

Rs.27,557/-

Rs.34,457/-

Rs.51,047/-

Rs.1 L

Rs.10,333/-

Rs.15,308/-

Rs.17,226/-

Rs.25,520/-

Note : Maximum Sum Insured under Base Policy for members of Award Staff (Retired) shall be Rs.3 L

Amount to be remitted to subscribe the Policy for the period from 01.11.2022 to 31.10.2023

As a gesture of goodwill, the Bank shall bear a portion of premium applicable under Option I - Without Domiciliary Coverage in respect of all Retired Employees, subject to a maximum of Rs.34,700/- for Retired Officers and Rs.24,800/- for Retired members of Award Staff [at a differential rate on the basis of the type of coverage (family/single) and the Basic Sum Insured slab opted by the beneficiary]. Accordingly, the details of premium to be remitted by a Retired Employee in connection with renewal/joining of the Policy under each category as per Option I and Option II are attached as Annexure 1 .

3. Super Top - Up Policy

In addition to the Base Policies as mentioned hereinabove, NIC has also proposed Super Top - Up Policies (Without Domiciliary Coverage) for Retired Employees. The salient features of Super Top-Up Policy are as given below.

  • Super Top-Up Policy can be availed, only by those Retired Officers who subscribe Base Policy with Sum Insured of Rs.4 L and by the Retired Award Staff who subscribe Base Policy of Rs.3 L.  
  • Super Top-Up Policy can be availed, only with the same coverage status of either Single or Family, as opted in the case of Base Policy (i.e. In case, the Retiree opts to avail Base Policy for Family, Super Top-Up Policy cannot be availed for Single Person)
  • Sum Insured and Premium applicable for Super Top - Up Policy are as follows : 

Sum Insured (in Lakh)

Premium Including GST

Premium to cover Single Person

Premium to cover Family

Rs. 5 L

Rs.10,246/-

Rs.15,180/-

Rs. 4 L

Rs.8,420/-

Rs.12,475/-

Rs. 3 L

Rs.6,507/-

Rs.9,639/-

Rs. 2 L

Rs.4,246/-

Rs.6,291/-

Rs. 1 L

Rs.2,518/-

Rs.3,730/-

(Super Top- Up policy cannot be availed by Retired Officers who choose the Base Policies with Sum Insured of Rs.1 L, Rs.2 L Rs.3 L and by the Retired Award Staffs who choose Sum Insured of Rs.1 L , Rs.2 L.)

For Retired Officers who choose Sum Insured of Rs. 4 L, Super Top-Up Policy with Sum Insured upto Rs.5 L ( i.e. Super Top-Up Policy for Rs.1 L, Rs.2 L, Rs.3 L , Rs.4 L or Rs.5 L) is permitted.

For Retired Award Staff who choose Sum Insured of Rs.3 L, Super Top-Up Policy with Sum Insured upto Rs.4 L ( i.e. Super Top-Up Policy for Rs.1 L, Rs.2 L, Rs.3 L or Rs.4 L) is permitted.

 

  • Entire premium applicable for the Super Top-Up Policy shall be borne by the Retired Employee.
  • Premium for Top - Up Policy shall be remitted along with the premium for Basic Policy.
  • Nature of Policy shall be Top - Up without Domiciliary Coverage.
  • Retired Employee and spouse (as applicable in the base policy) are eligible to be covered under the Top - Up Policy.
  • Top - Up Policy will be invoked only when the Sum Insured under the Basic Policy gets exhausted.
  • Other terms and conditions of the Top - Up Policy shall be the same as in the case of Base Policy. 
  • Cashless / Reimbursement facility shall be available in connection with Hospitalization. 
  • Retirees who have not availed Super Top-Up Policy for the Policy period 2021-22 are also permitted to avail Super Top-Up Policy under the current renewal.
  • Policy period: 01.11.2022 - 31.10.2023


Procedure to be followed in connection with renewal/joining of Policy (Online Submission of Application)

1) In order to renew/join the Policy covering the period from 01.11.2022 to 31.10.2023, all beneficiaries, irrespective of their Option/Category (Single or Family/with or without Domiciliary/Super Top – Up/Sum Insured ), are required to submit the application online, through Digital Service Memoir Portal available in www.federalbank.co.in (Retirees’ Space), latest by 21st  October 2022.  All Retired Employees are requested to use the platform so as to promote paperless environment.

After the successful submission of application, the beneficiary will receive a confirmation mail in their registered email ID. In case the online application is found successfully submitted, there is no need for submitting hardcopy of the application to HR Department.

Please note that Family Pensioners/CPF Optees/ Other Beneficiaries have to invariably send the hardcopy of the application to HR Department as DSM portal will not be accessible to them. In such cases, hardcopy of the application (in the format as per Annexure 2 attached below) shall be submitted to HR Department, latest by 21st October, 2022.

2) If at all the application for renewal/joining the Scheme is not received from the beneficiary within the prescribed timeline, the coverage will not be renewed/extended under any Option/Category for the period 01.11.2022 to 31.10.2023. (Note : Membership in the Scheme is an onetime option; employees once opt out/do not join/do not renew the Policy, may not be allowed to join the Scheme on a later stage)

Upon exercising the option for availing the coverage under the Scheme, as applicable to Retired Employees, the proportionate amount of premium payable will be appropriated from the Pension (Savings Bank) Account. Please note that remittance of premium is a pre-requisite for availing the Policy benefits under the Scheme; hence beneficiaries are advised to maintain sufficient balance in their respective Bank Account. Beneficiaries are therefore advised to ensure that the required premium has been debited to their Account latest by 28th October 2022 so as to confirm coverage under the proposed Mediclaim Policy covering the period 01.11.2022 to 31.10.2023. On renewal, the Policy/Scheme details will be made available in the dedicated link for Retired Employees in Bank’s Website (www.federalbank.co.in under Retiree’s Space).

For any clarifications; e-mail ID: medicare@federalbank.co.in or in TelePhone No. 0484– 2634138/2634017/2634062

 

 

Annexure 1

Amount to be remitted to subscribe the Policy for the period from 01.11.2022 to 31.10.2023. (All Premium inclusive of GST)

1) Option I - Without Domiciliary Coverage

Applicable Cadre

Sum Insured - Base Policy

Sum Insured- Super Top-Up Policy

Total Sum Insured (Base + Super Top UP)

Family Floater

Single Person

Base Policy Premium - Family

Super Top-Up Policy Premium -Family

Total Premium - Family (Base + Super Top-Up Policy)

Bank's Contribution - Family

Balance premium to be remitted by the beneficiary -Family (Base + Super Top-Up Policy)

Base Policy Premium - Single

Super Top-Up Policy Premium -Single

Total Premium Single (Base + Super Top-Up Policy)

Bank's Contribution - Single

Balance premium to be remitted by the beneficiary - Single (Base + Super Top-Up Policy)

Retired

Officers

Only

4 L

5 L

9 L

57,808

15,180

72,988

34,700

38,288

39,020

10,246

49,266

23,450

25,816

4 L

 8 L

57,808

12,475

70,283

34,700

35,583

39,020

8,420

47,440

23,450

23,990

3 L

7 L

57,808

9,639

67,447

34,700

32,747

39,020

6,507

45,527

23,450

22,077

2 L

6 L

57,808

6,291

64,099

34,700

29,399

39,020

4,246

43,266

23,450

19,816

1 L

5 L

57,808

3,730

61,538

34,700

26,838

39,020

2,518

41,538

23,450

18,088

0 L

4 L

57,808

NA

57,808

34,700

23,108

39,020

NA

39,020

23,450

15,570

Retired Officers & Award Staff (Top up Policy not available to Retired Officers who choose Basic SI 3L and below )

3 L

4 L

7 L

41,334

12,475

53,809

24,800

29,009

27,901

8,420

36,321

16,750

19,571

3 L

6 L

41,334

9,639

50,973

24,800

26,173

27,901

6,507

34,408

16,750

17,658

2 L

5 L

41,334

6,291

47,625

24,800

22,825

27,901

4,246

32,147

16,750

15,397

1 L

4 L

41,334

3,730

45,064

24,800

20,264

27,901

2,518

30,419

16,750

13,669

0 L

3 L

41,334

NA

41,334

24,800

16,534

27,901

NA

27,901

16,750

11,151

2 L

NA

2 L

27,557

NA

27,557

16,550

11,007

18,600

NA

18,600

11,200

7,400

1 L

NA

1 L

15,308

NA

15,308

9,200

6,108

10,333

NA

10,333

6,200

4,133

 

2) Option II - With Domiciliary Coverage

Applicable Cadre

Sum Insured - Base Policy

Sum Insured- Super Top-Up Policy

Total Sum Insured (Base + Super Top UP)

Family Floater

Single Person

Base Policy Premium - Family

Super Top-Up Policy Premium -Family

Total Premium - Family (Base + Super Top-Up Policy)

Bank's Contribution - Family

Balance premium to be remitted by the beneficiary -Family (Base + Super Top-Up Policy)

Base Policy Premium - Single

Super Top-Up Policy Premium -Single

Total Premium Single (Base + Super Top-Up Policy)

Bank's Contribution - Single

Balance premium to be remitted by the beneficiary - Single (Base + Super Top-Up Policy)

Retired

Officers

Only

 

 

 

 

 

 

4 L

5 L

9 L

97,776

15,180

1,12,956

34,700

78,256

65,999

10,246

76,245

23,450

52,795

4 L

 8 L

97,776

12,475

1,10,251

34,700

75,551

65,999

8,420

74,419

23,450

50,969

3 L

7 L

97,776

9,639

1,07,415

34,700

72,715

65,999

6,507

72,506

23,450

49,056

2 L

6 L

97,776

6,291

1,04,067

34,700

69,367

65,999

4,246

70,245

23,450

46,795

1 L

5 L

97,776

3,730

1,01,506

34,700

66,806

65,999

2,518

68,517

23,450

45,067

0 L

4 L

97,776

NA

97,776

34,700

63,076

65,999

NA

65,999

23,450

42,549

Retired Officers & Award Staff (Top up Policy not available to Retired Officers  who choose Basic SI 3L and below )

3 L

4 L

7 L

77,920

12,475

90,395

24,800

65,595

52,596

8,420

61,016

16,750

44,266

3 L

6 L

77,920

9,639

87,559

24,800

62,759

52,596

6,507

59,103

16,750

42,353

2 L

5 L

77,920

6,291

84,211

24,800

59,411

52,596

4,246

56,842

16,750

40,092

1 L

4 L

77,920

3,730

81,650

24,800

56,850

52,596

2,518

55,114

16,750

38,364

0 L

3 L

77,920

NA

77,920

24,800

53,120

52,596

NA

52,596

16,750

35,846

2 L

NA

2 L

51,047

NA

51,047

16,550

34,497

34,457

NA

34,457

11,200

23,257

1 L

NA

1 L

25,520

NA

25,520

9,200

16,320

17,226

NA

17,226

6,200

11,026

Fed-e-Life

 

Fed-e-Life: Digital Life Certificate for Pensioners/Family Pensioners of the Bank

Pension and Family Pension beneficiaries of the Bank are required to submit Life Certificate to the Trustees of The Federal Bank (Employees’) Pension Fund, every year, to ascertain their life status so as to ensure uninterrupted receipt of Pension/Family Pension.   Hitherto, hard copy of the Life Certificate (in the prescribed format), was required to be submitted to HR Department, through any of our Branches/Offices, after duly certified by Officials of the Bank. 

As an endeavor to migrate fully to digital/paperless model, a new platform i.e.  Fed-e-Life has been introduced in order to facilitate our Pension/Family Pension beneficiaries to submit their Life Certificate digitally, without visiting Branch/Office.  Any changes in Address, Mobile Number, e-mail ID etc., can also be updated while submitting the Digital Life Certificate. 

Click here to view the detailed operational guidelines 
 

 

Digital Life Certificate is based on AADHAAR validation and hence, only those beneficiaries having valid AADHAAR can submit the Life Certificate digitally. In the case of other beneficiaries (not having valid AADHAAR), the existing practice i.e. submitting hard copy of the Life Certificate through any of our Branches/Offices shall be continued. 

Please call us at 0484-2634263 or e-mail to trust@federalbank.co.in for any queries or clarifications.

Special Personal Loan Scheme to Pensioners of the Bank

Special Personal Loan Scheme to Pensioners of the Bank

A Special Personal Loan Scheme has been introduced by the Bank in April 2015 in respect of Employees who have retired from the services of the Bank on attaining the age of superannuation and those who have retired at the age of 55 or above under VRS/VSS.

Various refinements have been brought in the scheme from time to time. The refined Personal Loan Scheme, extended to all Ex- Federals who are currently pensioners of our Bank, is reproduced below for the information of all concerned.

Eligibility

  1. Applicant shall be a Pensioner of the Bank
  2. Employees who retired from the services of the Bank on attaining the age of superannuation and employees who retired at the age of 55 or above under VRS/VSS shall be eligible for the Loan
  3. Minimum take home pension/ income after meeting all commitments towards loans including the proposed one should be Rs. 7500/-

Type of Facility

Term Loan

Loan Amount

Upto 10 times of Monthly Pension or Rs.2.00 Lakh, whichever is lower.

Repayment

EMI

  1. By way of auto recovery from the SB account to which the Pension is credited, based on the irrevocable Letter of Authority.

Tenure

  1. 5 years or tenure upto the date on which the retiree applicant attains the age of 70 years, whichever is shorter.

Rate of Interest

Repo Rate + 5.60% (Spread)

Late Payment Fee

2% p. m. in case of default

Processing Fee

Nil

Co-obligancy

  1. Co-obligancy of Spouse
  2. In case of widow/widower, co-obligancy of any earning family member

Security

Nil

Three undated crossed blank cheques in favour of Federal Bank

FOIR

  1. Maximum 65% irrespective of income level
  2. No relaxation permitted

Internal Credit Rating & CIBIL

  1. CIBIL Score as per Retail Loan norms
  2. CIR from CIBIL to be taken
  3. Charges pertaining to CIBIL report to be borne by the Pensioner

Sanctioning Authority

CRCH

Disbursal Branch

Loan to be disbursed only through the Branch where the Pensioner is maintaining the Pension Account

Other Terms & Conditions

All other terms & conditions of Federal Personal Loans (as applicable to general public)

 

Identity Cards to Retired Employees

Identity Cards to Retired Employees

We are pleased to inform that the Bank has decided to issue ID Cards to all the employees, who have retired from the services of the Bank on superannuation. In order to make arrangements to issue the ID Card, employees retired from the services of the Bank on superannuation are requested to submit the application as per the format can be downloaded from here. Kindly forward the application, duly attested by the Principal Officer of the nearest Branch/Office, to HR Employee Relations & Operations.

Download

 

Relaxations in the norms of Staff Loans in respect of employees retired from the Bank 

At present, employees are permitted to continue Vehicle Loan, Housing Loan and Federal Vidya Loan / Federal Career Solutions Loan even after their retirement. On a review, it is decided by the Bank to extend the relaxations to those who have retired from the services of the Bank on superannuation subject to certain conditions. 
 

Application for Commercial Employment

Application for Commercial Employment

All pension opted Retiree Officers of the Bank who wish to accept / engage in any commercial employment / practice for any gainful employment within two years from the date of their retirement shall obtain prior permission from the Bank. The format for application can be downloaded from here.
 

ESOS

Employee Stock Option Scheme 2010- Lapse of Options Granted

 

As per the Employee Stock Option Scheme, the Exercise Period of Stock Options commences from the Date of Vesting of Options, which will expire on completion of five years from the respective date of the Vesting of Options. As such, any decision regarding exercising of the Options has to be taken by the beneficiaries within this period. All concerned may take note that the Options vested will get lapsed, if not exercised within the specified Exercise Period, which will be consequently considered as Options that have not been Granted.

 

The Options vested on 12th September 2017, (Grant for the Year 2013 at an Exercise Price of Rs. 28.63 and Grant for the Year 2014 at an Exercise Price of Rs. 62.00) would lapse, if not exercised within 11th September 2022 and Options vested on 05th November 2017, (Grant for the Year 2012 at an Exercise Price of Rs. 47.40) would lapse, if not exercised within 04th November 2022. It is reiterated that as per the Scheme, Options once lapsed shall be treated as Options that have not been Granted and hence, the beneficiaries would not have any claim on the lapsed Options on a later date.

 

In this background, all concerned are advised to take necessary steps to exercise the Options before the expiry date itself. Kindly refer Circular No. 10846 dated 01/12/2020 and Circular No. 12329 dated 08/03/2022 for the process changes in respect of exercising Stock Options. Details of Vesting Schedules and respective Expiry Dates can be viewed by the eligible beneficiaries by accessing ESOS Online https://esos.federalbank.co.in).

 

ESOS Online site can be accessed by clicking the link below.

ESOS Online

Grievance Redressal

Retired employees can address their grievances to bank. Please Click here for more details.

Downloads

Policy Schedule - Without Domiciliary 2021-22
Download
Guidelines for availing Cashless and Reimbursement Facilities
Download
Location wise SPOC- Safeway TPA
Download
Claim Form for Reimbursement- Safeway TPA
Download
Life Certificate Format - Family Pensioners
Download
Mandatory Requirement of Linking PAN with Aadhaar
Download
Implementation of Auto Debit in ESOS Online and the related process changes
Download
ESOS Online – Disabling the ‘Exercise Now’ Menu
Download
PF Case update
Download
Instructions for submitting the application online
Download
Fed-e-Life: Digital Life Certificate for Pensioners/Family Pensioners of the Bank
Download
Retirees Policy Without Domiciliary
Download
Retirees Policy Super Top Up
Download
Medical Insurance Claim Format
Download
Employee Stock Option Scheme 2010 - Lapse of Options
Download
Medical Insurance Scheme Details
Download
Format of Life Certificate
Download
Application for Identity Card to Retired Employees
Download
Application for Commercial Employment
Download
ESOS Online - User Manual
Download
ESOS -2010 Bonus Issue
Download
Extension of Vesting dates - ESOS 2010
Download
Annexure 2 - Format for Renewal/Joining IBA Medical Insurance Scheme for the period 2022-23
Download

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