Care Ratings has upgraded the credit rating of Federal Bank’s bonds from AA to AA+ on continued improvement in the bank’s overall business, diversification of loan portfolio, better profitability and stable asset quality. Federal Bank is one of the oldest private sector banks in India with over 80 years of operating history and is a […]
Kerala-based privately owned Federal Bank said it has started a one-minute loan facility called Digital Personal Loans. “Customers can log into Bank’s website (www.federalbank.co.in) and avail personal loans in a minute. Upon the acceptance of the offer by the customer, the loan money is credited to his account immediately,” it said. “This facility neither requires […]
Federal Bank has become the first private sector bank to start distributing gold coins made by government-controlled Metals and Minerals Trading Corporation of India. The Indian gold coins are of 24 karat purity, 999 fineness and has the National Emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi as in […]
Federal Bank has joined a group of 11 other banks to offer instant money transfer facility using ATM cards. Customers of Federal Bank can transfer money to those of any of the other 11 banks (as well as to Federal Bank customers) by visiting Federal Bank ATMS. At present, money transfer requires a visit to […]
IDBI Federal Life Insurance, a joint-venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe, has reported a growth of 84% in Total Premium at the end of the Q1 FY16. “The growth of the company […]
Federal Bank said customers can now avail loans against fixed deposits through its online platform, and that the first 3,000 customers will get interest rate concessions. “Fed-E-Credit is an online loan against deposit, and is the first in the series of online loan products planned by the Bank,” it said. Through Fed-E-Credit, customers can apply […]
Federal Bank is promising low interest rates and quick processing for personal loans for salaried employees under its new Fed Premia scheme. Under the scheme, salaried borrowers can avail personal loan up to Rs.10 Lakh with repayment period extending up to 48 months. It will offer “competitive interest rate and the quick processing time,” the […]
Federal Bank has launched ‘Soft PIN’ facility for Debit cards, which lets customers use debit and ATM cards almost as soon as they’ve got their hands on it. Soft PIN, which replaces printed ‘PIN- Mailers’, can be generated by the customers themselves through any of the Bank’s 1500-plus ATMs across the country, thus avoiding the […]
Nilesh Shivji Vikamsey has been appointed as Part-Time Chairman of Federal Bank and the appointment has been approved by the Reserve Bank of India, the bank said. CA. Vikamsey, who will assume office on 20th June 2015, succeeds Prof. Abraham Koshy, who retired from the Board of Federal Bank on 17th May 2015 on successful […]
In keeping with the overall decline in lending and deposit rates, Federal Bank has cut the interest rates offered on domestic fixed deposits by 0.50 to 0.25 percentage points. The heaviest cut is in the short-term deposit rate, where interest rate has been cut to 3.5% from 4.00% earlier. On longer-term maturities, interest rate has […]
