Shreni Savings Account: The Perfect Choice for Non-Governmental Organisations

Shreni Savings Account: The Perfect Choice for Non-Governmental Organisations


Federal Bank, one of the leading private sector banks in the country, follows a customer-centric approach backed by innovation to ensure every client’s requirements are met. Federal Bank’s aim to offer customised solutions led to the creation of the Shreni Savings Account—a savings bank account that has been designed to cater to the specific requirements of non-governmental organisations (NGOs). What makes this account the perfect choice for NGOs is that it is power-packed with benefits that enhance the operational efficiency and financial management of the organisation.

Features of the Shreni Savings Account

1. Tailor-Made Features for Non-Governmental Organisations (NGOs)

The Shreni Savings Account is a tailored account specifically designed to tackle the challenges and requirements of NGOs. This account has been designed to enable smooth management of finances and efficiency in operations for NGOs functioning in different areas.

2. Free Internet and Mobile Banking Services

Federal Bank, through the Shreni Savings Account, provides free Internet and mobile banking services to its clients. This feature is quite empowering as it helps the NGO manage its finances, conduct financial transactions, and access its account on the go conveniently. Additionally, the account holder is also offered mobile and email alerts of the account at no extra cost.

3. No AMB Stipulation and Free Transactions

With the Shreni Savings Account, NGOs need not be worried about maintaining the Average Monthly Balance (AMB), a feature that is not available in many savings accounts. This helps the organisation reallocate resources to more productive missions and initiatives. The Shreni Savings Account does not require the account holder to maintain the AMB. The account also offers 50 free transactions every quarter. This is quite useful to NGOs as they can conduct the necessary banking activities at no extra cost. 

4. Free Cash Withdrawal and Cheque Book Facilities

This account offers free cash withdrawal and complimentary cheque book facilities to the account holder, thereby ensuring the transactions are conducted smoothly at no extra cost.

5. Unlimited Issue of Demand Drafts

Another interesting feature of this savings account is that it offers no limit on the issue of demand drafts to the account holder. This feature helps the NGO manage its payments efficiently, transfer funds, and promptly settle any obligations without worrying about any limits. They can distribute funds efficiently, which is of immense help, especially in situations like emergency relief efforts.

6. Waived Charges for NEFT and RTGS Transactions

Federal Bank also waives the charges for NEFT transactions that are channelled via the Shreni Savings Account. Furthermore, RTGS charges are waived if the NGO maintains an AMB higher than ₹1,00,000 in the previous month. This feature helps minimise transaction costs and ensures a timely and smooth transfer of funds.

Why Shreni Savings Account Is the Perfect Choice for NGOs?

The Shreni Savings Account is a power-packed account that offers a wide range of banking solutions that are apt for NGOs. With customised features like free Internet and mobile banking services, no AMB requirement, free cash withdrawal, free cheque books, no limit on issuing demand drafts, and no charges for NEFT and RTGS, this account proves to be quite beneficial to the account holder. So, why wait? Choose the Federal Bank Shreni Savings Account today and experience a new level of convenience and financial flexibility.