FedSalary Premium

Features & Benefits

FedSalary Premium is a feature rich premium Salary Account no minimum balance stipulation for high end salary earners. The account comes with a bundle of benefits and features such as no minimum balance requirement, Rupay Platinum Debit Card with Free Airport Lounge Access*, auto sweep facility, temporary overdraft facility, cheque collection, door step banking and much more.


An exclusive premium account with No balance stipulation
A cover for unplanned expenses - Salary Overdraft facility upto 80 % of monthly Salary
Complimentary insurance cover worth upto 87.55 Lakhs available*
Any ATM my ATM facility- Free access to other bank ATMs in India*
Free  Rupay Platinum Debit Card with higher limits, Airport lounge access, lifestyle privileges and much more
Free Family Account- Zero balance account for your family members
Unique 3-in-1 account facility with the option of selecting industry stalwart brokers like ICICI Securities and Geojit
Car Loans, Home Loans and Personal Loans  at competitive rates
Balance transfer scheme - Seamless transfer of loans from other Banks
Discount of 25% on locker rent subject to maximum cap of Rs.1000/-
Transfer funds online to any bank across the country through NEFT / RTGS
It's All Free - All alerts, Mobile & Internet Banking, anywhere Banking, Online NEFT/RTGS
Hospital cash facility available upto Rs.13,500 per annum

* Conditions apply

Complimentary Insurance coverage


Complimentary insurance cover worth upto 87.55 Lakhs available*
Air Accidental death cover - Rs. 50L
Term Life Insurance coverage available upto Rs.1 Lakh
Personal Accidental Death Cover, PTD & PPD# - Rs. 35L*
Debit Card Protection up to Rs. 1L 
Ambulance charges cover up to 5000/-
Child education benefit upto Rs.50000/-
*  Hospital Cash Facility available @1500/day*

* Conditions apply

Other features


Demat Facility Zero Demat Account Opening and Annual Maintenance Charge.
Financial Planning Services Individual financial planning products from Ageas Federal, BAGIC and Mutual funds.
Online Banking 24x7 Free transaction facility enabled online banking (Fednet Facility) with higher transaction limits. 
Auto sweep facility Sweep facility on demand for balance above Rs. 1,00,000/-, and in multiple of Rs 25,000/- 
Temporary Overdraft facility Credit facility up to 80% of one month salary, subject to a maximum of Rs. 1,00,000/-

Documents required

Salaried persons with a net salary of Rs 30,000 and above can open Fed Salary Premium Account.

KYC Documents Required (Any one address proof and identity proof)

Document Identity Proof Address Proof
Passport Yes Yes
Driving Licence Yes Yes
Voter's Identity Card Yes Yes
Aadhaar Yes Yes
Job card by NREGA duly signed by an officer of the State Government Yes Yes
Permanent Account Number (PAN) card Yes No


Recent photograph

Two copies of recent passport size photograph

Employer Introduction letter/ Employee ID Card

Terms and Conditions

  • In case the monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under the said Account stands withdrawn and the account shall be treated as a Normal Savings Account under our standard charge structure and Avg. Monthly Balance (AMB) is required to be maintained, and all charges shall be levied and applied as applicable to Normal Savings Bank accounts. Click Here to Know More
  • Complimentary Insurance coverage will be active after 60 days of Account opening date.
  • Customers in the age group of 18 – 65 will only be covered.
  • Only the primary account holder will be eligible for the complimentary services offered in the scheme.
  • Customer will be eligible for Insurance coverage/scheme features only after initial salary credit in account.

  • Card Protection
    • The cover is applicable for primary cards only. Add-on Cards are not covered
    • Claim should be intimated within 30 days from date of loss / blocking by the insured.

  • Personal Accidental Dealth Cover
    • Base Cover: Rs. 500000 per card by doing one ATM / POS / e-commerce transaction up to 50 days prior to the date of loss.
    • Accelerated cover up to Rs.25,00,000.For every additional POS / e-commerce transaction carried out through the Primary Debit Card 365 days prior to the date of loss, sum insured increases by Rs.100,000/- per transaction.

  • Air Accidental Cover
    • Air accident coverage is applicable only if the Airline tickets are purchased using the above mentioned cards.


  • Term Life Insurance cover
    • Accounts opened or scheme changed to FedSalary premium scheme from 01/02/2024 will only be eligible for the Term Life Insurance facility.
    • ECOM / POS spent of minimum Rs.1000 within 60 days of onboarding to salary scheme using the linked debit card is the basic criterion required for activation of this feature.
    • Insurance will be live from 60th day of customer on boarding (i.e., Account opening/ scheme change date) and will be valid for next 12 months.
    • Complimentary features offered in salary schemes are solely depended on the salary credits in accounts.
    • Insurance coverage is extended only to primary account holders.
    • Customers in the age group of 18 – 65 will only be covered.
    • Insurance coverage will be renewed every year if the customer is maintaining the scheme eligibility criteria.


  • Hospital Cash Facility

    *Waiting Period Applicable for Hospital Cash – Illness:

    1. General: 30 Days

    2. Specific Illness & Procedure: 24 Months

    3. Pre-existing Diseases: 48 Months

  • Police and defense accounts are covered under the policy on off-duty cover basis only. Any claim arising as a result of on-duty accidents will not be payable.
  • Injury caused by surgery
  • Nuclear energy risk
  • Professional activities of military personnel
  • Offshore activities
  • Accidental Death or Permanent Disablement due to pregnancy or childbirth
  • Insect / mosquito bite
  • Terrorism due to nuclear / chemical / biological risk
  • Adventure sports
  • Epidemic / Pandemic
  • War

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