Features & Benefits

FedFirst is a customized savings account exclusively for Children- Make Your First Bank account special with Federal Bank’s FedFirst, an exclusive product crafted for your first step towards spending and saving smartly.
 
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Children up to age of 18 years (both Resident and NRIs) can apply for this account. 
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Access your pocket money 24x7 with Contactless Debit Card:
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Free Mobile alerts & Free E-mail alerts
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Reward points and seasonal cashbacks on Debit Card
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Exclusive deals and offers on your favorite Brands
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Free standing instruction facility from the account of parent to children
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Nil Debit card AMC  subject to an annual spend Rs. 10,000/- via POS/ E-com
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Recurring Deposit Facility- Save your pocket money and invest small amounts as Recurring Deposit to make your dreams come true
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Systematic Investment Plan- Invest in mutual funds and get great returns on your investments through your FedFirst account.

 

Daily Cash withdrawal limit at ATMs Daily shopping limit at POS / E-com
Rs. 2,500 Rs. 10,000 (includes Daily Contactless transaction limit  of Rs. 5000/- )

Eligibility

  • Children up to age of 18 years (both Resident and NRIs) can apply for this account. 
  • In case of minor below 10 years the account shall be opened with parents/guardians as Authorized Signatory. 
  • Minors above 10 years may open account in their sole name and operate savings bank accounts independently.
  • To open FedFirst savings account, you may please visit your nearest Federal Bank branch.

Balance Requirement

  • Average  Monthly Balance of Rs. 1,000/-
  • Minimum balance charges will be waived subject to parent opening a premium*account OR by opening an RD# in the name of the minor. 

**Premium SB account defined as SB account with scheme AMB >=Rs.25,000 
#Minimum RD amount of Rs. 2000/- for minimum period  of 1 year to be  eligible for SB account AMB  waiver till the maturity period of the RD.

Fees & Charges

  • For rates & charges and fees, please click here.

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