DIFFERENT TYPES OF CURRENT ACCOUNTS OFFERED BY FEDERAL BANK
1. FREEDOM CURRENT
It is a standard current account that provides smooth running of your business with minimum monthly balance of Rs.5000
2. CURRENT PLUS
Gets different kinds of features by maintaining a current plus account with an average balance of Rs.10,000. Individuals/sole proprietary concerns, firms, organizations, joint stock companies or any other business tycoons can open this account. This ensures that you can focus on your business without having worry about banking.
3. FED TRADE
It is a flexible current account that helps to run your business more effectively and efficiently. It mainly designed for mid-range business concerns with small cash management. You will get transaction alerts on mobile and via e-mail. You can also check cash balances simply by using net banking facility.
4. FED TRADE PLUS
It provides high cash transaction limits, over draft facility and more.
5. FED TRADE 50
It is also like fed trade plus account. By this type of account, we can do high amount transactions and multiple banking channels.
6. FED AROGYA
It’s a zero balance account mainly for healthcare facilities.
7. FED VANIJYA PLUS
It is mainly for business banking customers. It provides high-level amount transaction, free unlimited cheque leaves, free access to all kinds of banking channels and free NEFT and RTGS facility.
8. FED SAHAKARI
It is mainly for banks and co-operative societies.
9. FED CHIT
It is exclusively for kuri companies based on their necessities.
10. ESCROW ACCOUNT
It is a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties. It gives services to the clients including project financing, debt repayments, liquidations, mergers, and acquisitions.
11. RERA PROJECT ACCOUNT
RERA means that “Real Estate Regulatory Authority” bill was introduced by Indian government. This offer dedicated to the customers which to enable to meet the regulatory guidelines under RERA act