Retirees' Space

Retirees' Space is designed to help and guide the retirees of the Bank. The space provides access to the links which help them with the necessary details and documents they may require.


Medical Insurance Scheme in respect of Retired Employees of the Bank

Medical Insurance Scheme in respect of Retired Employees of the Bank has been renewed for one year w.e.f 01/11/2018, in association with M/s. United India Insurance Co. Ltd. and M/s. Vidal Health TPA.  Both the retired employee and the spouse of the retired employee are covered under the Scheme. The Scheme has been renewed with the following options and retirees are covered as per their choice and eligibility, subject to payment of required premium.

Option I – Without Domiciliary Coverage

Under the Option, expenses incurred for hospitalization alone are envisaged in the scope of the policy and expenses incurred for domiciliary treatments are not covered. The coverage under this option shall be as given below.


Total Sum Insured

Officers (Retired)

Rs. 4 Lakh

Award Staff (Retired)

Rs. 3 Lakh


The Scheme envisages either cashless or reimbursement facility in the case of hospitalization.  Cashless facility will be available only at selected Network Hospitals, as approved by the TPA. The list of Network Hospitals, where cashless facility can be availed, is made accessible in the Website of Third Party Administrator (M/s. Vidal Health TPA) https://www.vidalhealthtpa.com/home/Network-Services/Network-Hospitals.  In order to make use of the cashless facility, beneficiaries may approach the Insurance Desk maintained at the Network Hospitals, with the ID Cards already provided to the retiree along with another valid ID proof.  In case of any contingencies, E- Cards will be provided by the TPA via email to the beneficiaries, on demand. The TPA may be contacted in the following email ID federalbank@vidalhealthtpa.com .In case employee/dependents are admitted to a Hospital and not availing cashless facility, details of such hospitalization shall have to be invariably intimated to the Insurer/Third Party Administrator within 7 days from the date of hospitalization and the claims shall be submitted in the prescribed format (annexed), with all required documents mentioned therein, directly to Third Party Administrator, within 30 days from the date of discharge.

Option II – With Domiciliary Coverage

Under the Option, expenses incurred for domiciliary treatment are also covered, for a list of diseases as annexed, in addition to the hospitalization expenses. However, the coverage for domiciliary expenses is capped at a maximum of 10% of the total Sum Insured, i.e. Rs. 40,000/- for Officers and Rs. 30,000/- for Award Staff. Please note that, the total coverage under this option including that for domiciliary treatment is limited to the total Sum Insured as applicable in the respective cadre of the retiree (Rs.4 Lakh in the case of Officer and Rs. 3 Lakh in the case of Award Staff). Coverage under this option shall be as given below.



Total Sum Insured

Domiciliary Cover

(10% of overall Sum Insured)

Officers (Retired)

Rs. 4 Lakh

Rs. 40,000/-

Award Staff (Retired)

Rs. 3 Lakh

Rs. 30,000/-


Retired employees who are covered under Option II may submit the claims related to domiciliary treatments along with the required documents as detailed below. It may be noted that, any other documents as demanded by Insurance Company/TPA, at the time of processing the claim, will also be required to be submitted. 

1.       Duly filled in IBA Domiciliary Treatment Claim Reimbursement Statement (Annexure I)

2.       Duly signed Claim Form - Part A

3.       Copy of Health Card

4.       Copy of cancelled cheque leaf & ECS Mandate (Along with first claim and whenever there is change in Account Number).

5.       All Original Bills with GST details/Lab Reports for the medicines purchased/lab tests conducted.

6.       All domiciliary claims are to be supported with original prescriptions showing the nature of ailment(s) and details of medicines to be consumed. Prescription for lab test if any, shall also be submitted.

7.        If original prescription has already been submitted, retired employees need to submit, only self-attested copies of valid prescriptions with subsequent claims. Please note that, while submitting the claim with self-attested copy of prescription, care shall be taken to mention (at the bottom of Annexure I) the details such as month, date etc. of the earlier claim submitted using the original prescription.

8.        The validity of the prescription shall be for a maximum period of 90 days only, unless specific period is mentioned in the prescription. In the case of prescriptions where the time limit is more than twelve months and for lifelong medication, a re-validation shall have to be made on or before completion of 12 months from the date of issue of the prescription.

9.       Members shall invariably retain a copy of the claim application and connected documents/ bills/ vouchers/reports for future reference.


Claims under Domiciliary treatment in respect of retired employees shall have to be submitted on a monthly basis. For a hassle free processing of claims related to domiciliary treatments, all concerned are advised to submit the claim forms in the prescribed format, before 15th of every month directly to the TPA (M/s. Vidal Health TPA). The format for claiming expenses incurred for domiciliary treatment is annexed for the reference of all concerned.

Super Top- Up Policy without domiciliary cover

The Salient features of the Super Top – UP Policy introduced by M/s. United India Insurance Company Ltd are as given below.

1.       Super Top – UP Policy can be availed with any of the Basic Policy either under Option I or Option II

2.       Nature of Policy - Top Up without domiciliary coverage

3.       Super Top- Up Policy will be invoked only if the Sum Insured under the Basic Policy is exhausted

4.       The other terms and conditions applicable to the Super Top – Up Policy shall be the same as in the case of Basic Policy.

5.       Cashless / Reimbursement facility is available in connection with Hospitalization

6.       Policy period : 01.11.2018 - 31.10.2019

7.       The coverage under Super Top – Up Policy shall be as given below:



Sum Insured under the Super Top – Up Policy (without domiciliary benefit) in addition to the coverage under Basic Policy

Officers (Retired)

Rs. 5 Lakh

Award Staff (Retired)

Rs. 4 Lakh



The claims in this regard shall be submitted in the prescribed format (hospitalization claim format), directly to Third Party Administrator (M/s. Vidal Health TPA).

Revision in Room Rent and submission of bills with GST details

Under the new policy, the maximum eligibility for per day room rent has been revised to Rs. 4,000/-. The Insurer, M/s United India Insurance Company has directed that all bills / receipts for purchase of medicine, upon which a claim is made, shall bear the valid GST Number of the issuer (shop or hospital) of such bills, receipts etc., which shall be applicable for claims related to both Hospitalization and Domiciliary treatments.

TPA  Address

M/s. Vidal Health TPA Services, Door No. 40/3232, 2nd Floor, SL Plaza, Palarivattom, Kochi – 682025. Kerala.

For any queries, please feel free to contact in the No. 9544971166/0484 – 2634308 or please email to federalbank@vidalhealthtpa.com

Special Personal Loan Scheme to Pensioners of the Bank

A Special Personal Loan Scheme has been introduced by the Bank in April 2015 in respect of Employees who have retired from the services of the Bank on attaining the age of superannuation and those who have retired at the age of 55 or above under VRS/VSS.

Various refinements have been brought in the scheme from time to time. The refined Personal Loan Scheme, extended to all Ex- Federals who are currently pensioners of our Bank, is reproduced below for the information of all concerned.


  • Applicant shall be a Pensioner of the Bank
  • Employees who retired from the services of the Bank on attaining the age of superannuation and employees who retired at the age of 55 or above under VRS/VSS shall be eligible for the Loan
  • Minimum take home pension/ income after meeting all commitments towards loans including the proposed one should be Rs. 7500/-

Type of Facility

Term Loan

Loan Amount

Upto 10 times of Monthly Pension or Rs.2.00 Lakh, whichever is lower.



  • By way of auto recovery from the SB account to which the Pension is credited, based on the irrevocable Letter of Authority.


  • Maximum 48 months or upto the date on which the Pensioner attains the age of 70 years, whichever is shorter.

Rate of Interest

1-Year MCLR +2% (Floating)

Late Payment Fee

2% p. m. in case of default

Processing Fee



  • Co-obligancy of Spouse
  • In case of widow/widower, co-obligancy of any earning family member



Three undated crossed blank cheques in favour of Federal Bank


  • Maximum 65% irrespective of income level
  • No relaxation permitted

Internal Credit Rating & CIBIL

  • CIBIL Score as per Retail Loan norms
  • CIR from CIBIL to be taken
  • Charges pertaining to CIBIL report to be borne by the Pensioner

Sanctioning Authority


Disbursal Branch

Loan to be disbursed only through the Branch where the Pensioner is maintaining the Pension Account

Other Terms & Conditions

All other terms & conditions of Federal Personal Loans (as applicable to general public)


Identity Cards to Retired Employees

We are pleased to inform that the Bank has decided to issue ID Cards to all the employees, who have retired from the services of the Bank on superannuation. In order to make arrangements to issue the ID Card, employees retired from the services of the Bank on superannuation are requested to submit the application as per the format can be downloaded from here. Kindly forward the application, duly attested by the Principal Officer of the nearest Branch/Office, to HR Employee Relations & Operations.



Relaxations in the norms of Staff Loans in respect of employees retired from the Bank 

At present, employees are permitted to continue Vehicle Loan, Housing Loan and Federal Vidya Loan / Federal Career Solutions Loan even after their retirement. On a review, it is decided by the Bank to extend the relaxations to those who have retired from the services of the Bank on superannuation subject to certain conditions. 

Submission of Life Certificate for continuing the Superannuation Pension

Retired Employees who are drawing monthly pension from the Bank, shall submit Life Certificate during the month of September every year. Duly filled up and signed application shall be submitted to any Branches of Federal Bank for onward submission to Head Office- HR Department. The format for Life Certificate can be downloaded from here.

Application for Commercial Employment

All pension opted Retiree Officers of the Bank who wish to accept / engage in any commercial employment / practice for any gainful employment within two years from the date of their retirement shall obtain prior permission from the Bank. The format for application can be downloaded from here.


Employee Stock Option Scheme 2010- Lapse of Options

As per the Employee Stock Option Scheme, the Exercise Period of Stock Options commences from the Date of Vesting of Options, which will expire on completion of five years from the respective date of Vesting of Options. As such, any decision with regard to exercising of the Options has to be taken by the beneficiaries within this period. All concerned may take note that the Options vested will get lapsed, if not exercised within the specified Exercise Period, which will be consequently considered as Options that have not been granted.
The Options vested on 31st May, 2014 (Third Tranche in respect of Grant for the Year 2011 at an Exercise Price of Rs.42.07) under ESOS 2010 would lapse, if not exercised within 30th May, 2019. It is reiterated that as per the Scheme, Options once lapsed shall be treated as Options that have not been granted and hence, the beneficiaries would not have any claim on the lapsed Options on a later date.
In this background, all concerned are advised to take necessary steps to exercise the Options before the expiry date itself. Details of Vesting Schedules and respective Expiry Dates can be viewed by the eligible beneficiaries by accessing ESOS Online.

ESOS Online site can be accessed by clicking the link below.

ESOS Online


Payment of Exercise Price and Perquisite Tax through Fednet for ‘ESOS Online' is enabled. Please click here to know more.



Retired employees can address their grievances to bank. Please Click here for more details.