Federal Bank launches ‘FedFirst’ savings account scheme for children

Federal Bank has announced the launch of “FedFirst”, a special savings account scheme for children below 18 years of age. The account helps children develop healthy saving and spending habits, thereby giving them the freedom to save, spend and earn.

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About the account:

  • The account is designed to enable children to learn the importance of money management. The account comes with unique features and offers.
  • The account holder is provided with a FedFirst contactless Debit Card with a daily cash withdrawal limit of ₹2,500 and POS/e-com limit of ₹10,000, in addition to free online facilities including access to internet banking, mobile alerts and e-mail alerts.

Important takeaways for all competitive exams:

  • Federal Bank MD & CEO: Shyam Srinivasan.
  • Federal Bank HQ: Aluva, Kerala.

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