NSE: 

Open your Zero Balance Selfie account in smart way

Federal Bank introduces ‘FedBook Selfie' a first-of-its-kind facility in India for opening Savings Bank account through a smart phone.  By means of this facility, individuals can open Savings Bank Account in Federal Bank - on their own - by using their Aadhaar and PAN Cards.  Presently, the facility is offered to resident individuals  only.
 
What should I do to open an account ?
  • Download the app from play store or iOS app store.
  • Choose "Open a new account"
  • Choose a branch of your choice.
  • Two options for account opening, as noted below, are offered. Choose one
    1. Proceed with Selfie account: Under this mode, ‘FedBook Selfie Account' can be opened and then activated by visiting any one of our branches. 
    2. Proceed with E KYC account (Currently discontinued as per UIDAI directions): Under this mode, ‘FedBook Selfie E KYC Account' can be opened using Aadhaar OTP. This account can be operated up to 11 months from the date of opening without submitting KYC details at the branch. Before completion of 11 months, the customer should complete full KYC formalities by visiting a Federal Bank branch with self-attested copies of Aadhaar and PAN card.
  • Your Account number will be generated real time. 
  • FedBook Selfie app is now transformed to your digital passbook (FedBook).
  • Visit any Federal Bank branch and activate your account.

Pre-requisites of FedBook Selfie Lite (eKYC) account

  • Mobile number should be linked with Aadhaar for opening accounts using E KYC.
  • A customer can open only one account using E KYC across all Banks.
 
What are the charges related to Selfie account ?
 
Rates & Charges

AMB

Nil

Non Maintenance of Minimum Balance charges

Nil

Transaction Charges

FedBook Selfie : Monthly 3 over the counter transactions 
(branch transactions) will be permitted
 in the Scheme without any charges, beyond which the
 transaction will be charged at Rs.25 + GST
 (upto a maximum of Rs.100 per day). 
*OTC includes all cash and non cash transactions performed 
at the branch.
 

Cheque book

Chequebook will be issued on request. Rs.5 
per leaf, 
chequebook of 5 leaves.

ATM / Debit card

MASTER CLASSIC(CROWN)

Issuance will be Free of charges.

Annual Charges for Debit Card

Rs.300 + Tax

RTGS/ NEFT

FedNet- Free
FedMobile- Free
Transaction at branch – as per Service charge 
Structure.
 

Internet Banking

Free

Fedmobile

Free

Fedbook

Free

AWB Cash Deposit

Monthly 3 over the counter transactions 
(branch transactions) will be permitted
 in the Scheme without any charges, beyond which the
 transaction will be charged at Rs.25 + GST
 (upto a maximum of Rs.100 per day). 
*OTC includes all cash and non cash transactions performed 
at the branch.
 

AWB Clearing/ Collection/Transfer

: Monthly 3 over the counter transactions 
(branch transactions) will be permitted
 in the Scheme without any charges, beyond which the
 transaction will be charged at Rs.25 + GST
 (upto a maximum of Rs.100 per day). 
*OTC includes all cash and non cash transactions performed 
at the branch.
 

Collection of outstation cheques

As per Service Charge Structure

E-mail alert

Free

E-mail account statement

Free

Mobile alert

Chargeable Rs.0.50 per SMS

 
 
For a quick look about FedBook Selfie account, please watch the Selfie Video  
 
FedBook Selfie E-KYC Account   (FedBook Selfie Lite)
 
What are the key features of FedBook Selfie E-KYC account ?
  • Quick Account opening 
  • Immediate activation of account 
  • Zero Balance Account with exciting features
  • Highly secured App with online validation of KYC documents

 

Pre-requisites

 

  • Mobile number should be linked with Aadhaar for opening accounts using E KYC.
  • A customer can open only one account using E KYC across all Banks.

 

Conditions

  • Customer has to complete a full KYC verification (visit any branch with KYC documents & complete biometric branch KYC process) within one year of opening the E KYC account and change the account scheme to any other scheme of his/her choice.
  • No Cheque Book is issued in the account under this scheme.

Features

 

Eligibility Criteria

Resident individuals

Type of Account

Resident SB

Balance requirement

No minimum balance stipulation

Upper cap on balance in all accounts

FedBook Selfie- No limit.

FedBook Selfie Lite- Balance of the account shall not exceed Rs. 1 Lac.

Upper cap on aggregate credits in all accounts

FedBook Selfie- No limit.

FedBook Selfie Lite - Aggregate credits in a financial year in the account shall not exceed Rs. 2 Lac.

Account getting blocked

FedBook Selfie Account- Not Applicable

FedBook Selfie Lite accounts- Credit and Debit transactions to account using all channels will be blocked above the threshold limit.

Validity of this scheme

FedBook Selfie Account – Not Applicable

FedBook Selfie Lite Account - Account validity is 1 year from the date of Account opening. Customer should complete full KYC by visiting any Federal bank branch within an year of account opening.

Restricting cash transactions

FedBook Selfie Lite : Cash withdrawal and deposit  across the counter will not be allowed.

Other restrictions

FedBook Selfie Lite :  The customer will not be allowed to open any other account until full KYC is completed for this account and scheme is changed from FedBook Selfie Lite to any other schemes.

 

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