Federal Bank, one of the leading private sector banks in the country, believes in empowering all its customers, by offering innovative, customised banking solutions. The Shreni Savings Account has been designed with features that meet the requirements of societies, clubs, and trusts. It offers flexibility, convenience, and efficiency that transform the way these organisations manage their finances.

Features of the Shreni Savings Account

1. Free Internet and Mobile Banking

The Shreni Savings Account enables clubs, societies, and trusts to conduct financial transactions and manage their accounts conveniently by offering complimentary Internet and mobile banking services. Organisations can control and access their funds anytime and from any location.

2. Convenient Mobile and Email Alerts

Organisations can stay updated regarding their account activities, at no additional cost, as the account offers mobile and email alerts. These alerts keep the account holder updated on the transactions taking place in the account, the account balances, and any critical information.

3. No Minimum Balance Requirement

Unlike other savings accounts, the Shreni Savings Account powers up with a no minimum balance requirement. Organisations need not worry about the penalties imposed if a specific balance is not maintained in their account.

4. Unlimited Transactions and Free Cheque Book

The Shreni Savings Account offers 50 free transactions every quarter and free cheque books as well. This benefit helps clubs, trusts, or societies to conduct and enjoy seamless disbursements, and financial transactions.

5. Free NEFT and RTGS Services

Federal Bank’s Shreni Savings Account is accompanied by free NEFT and RTGS services. This helps bring down transaction costs drastically and ensures a seamless transfer of funds to beneficiaries.

6. Waived Charges for RTGS with Minimum Balance

In the Shreni Savings Account, the RTGS charges are waived if the account holder maintains a minimum balance that exceeds ₹1,00,000 in the previous month. This is a great incentive for organisations to ensure a healthy balance is maintained in their account and they benefit from it.

How Shreni Savings Account Is Tailored for NGOs

Along with the features mentioned, the Shreni Savings Account is specifically designed to match the specific requirements of NGOs. With features like free NEFT and RTGS services, mobile/email alerts, and charges waived on RTGS for those maintaining a specific minimum balance, the account helps NGOs worry less about most of the charges that are part of the normal savings accounts. This enables the organisation to focus on and contribute more to its mission.

Eligibility and Documentation Requirements

To open a Shreni Savings Account, relevant documents must be provided by societies, clubs, and trusts. Incorporation certificates, memorandum of association (MoA), and the identity proofs of authorised signatories are essential. It is important to note that the eligibility criteria might vary for different organisations.

Why Shreni Savings Account Is the Ultimate Solution

The Shreni Savings Account is the perfect solution for societies, clubs, and trusts that require banking solutions that are customised to their specific requirements. The account offers an array of benefits including no minimum balance requirement, email/mobile alerts, free Internet and mobile banking services, unlimited transactions, and free NEFT and RTGS services. So, choose the Shreni Savings Account today and experience convenience and flexibility.