Fed Salary

• Salaried persons with a net salary of Rs. 15,000/-* and above are eligible to open the account
• In case the monthly salary is not credited into the account for more than 3 consecutive months, the special features offered under the said Account stands withdrawn and the account shall be treated as a Normal Savings Account under our standard charge structure and Avg. Monthly Balance (AMB) is required to be maintained, and all charges shall be levied and applied as applicable to Normal Savings Bank accounts. Click Here to Know More
• Customers will become eligible for the scheme features only after the initial salary credit is received in the account. For insurance features, all other eligibility conditions mentioned in the Terms & Conditions will also apply.

* Applicable only to accounts opened or converted under this scheme with effect from 1st June 2026.

• Complimentary insurance cover will be provided to customers who are onboarded with effect from 1st November 2021.
• Insurance coverage is extended only to primary account holders.
• Customers in the age group of 18 – 65 will only be covered.
• Insurance coverage will be live from 60^th day of customer on boarding (i.e. Account opening / upgradation date) and will be valid for next 12 months.
• Insurance Coverage will be valid only if the customer was maintaining primary and secondary eligibility criteria mentioned above in the past 3 months prior to the incident.
• Insurance coverage will be automatically renewed every year if the customer is maintaining the scheme eligibility criteria.
• For claiming air accidental coverage, airline ticket should be purchased using the Federal Bank debit card.
• The claim shall be payable under any one section: Accidental Death or Air Accidental Death.
• Police and defense accounts covered only on off-duty basis.
• Claim Intimation: within 30 days of accident.
• Coverage is for accidental death or Permanent Total Disablement (100%)/PPD

Master Policy Number Policy No 590000/48/2026/4690

All claims must be routed through the designated insurance broker.

Particulars to be provided for Claim notification

• Policy Number
• Name of the Insured Person(s) named in the Policy schedule/Certificate availing treatment (if applicable)
• Nature of disease/illness/injury (if applicable)
• Name and address of the attending Medical Practitioner/Hospital (if applicable)
• First Information Report and Final Police report, wherever is necessary.

Claims documents to be submitted for Claim Submission

• Final settlement bill
• Hospital receipt
• Discharge summary
• Duly filled claim form
• KYC documents
• Cancelled cheque

Additional documents (if applicable):

• Police papers in case of an accident
• Medical reports (X-ray, Scan, MRI, etc.) along with relevant bills, as per case merits

If any additional documents not listed above are required, the insurer will notify the customer at the time of claim registration.

Sum Insured Payable

1. Permanent Total Disablement -100%
2. Permanent and incurable insanity -100%
3. Permanent Total Loss of two Limbs (physical severance or the total and permanent loss of use) 100%
4. Permanent Total Loss of Sight in both eyes -100%
5. Permanent Total Loss of Sight of one eye and one Limb (physical severance or the total and permanent loss of use) -100%
6. Permanent Total Loss of Speech -100%
7. Complete removal of the lower jaw- 100%
8. Permanent Total Loss of Mastication -100%
9. Permanent Total Loss of the central nervous system or the thorax and all abdominal organs resulting in the complete inability to engage in any job and the inability to carry out Daily Activities essential to life without full time assistance- 100%
10. Permanent Partial Disablement - Percentage As certified by treating doctor

Exclusions

1. Injury caused by surgery
2. Nuclear energy risk
3. Professional activities of military personnel
4. Offshore activities
5. Accidental Death or Permanent Disablement due to pregnancy or childbirth
6. Insect / mosquito bite
7. Terrorism due to nuclear / chemical / biological risk
8. Adventure sports
9. Epidemic / Pandemic
10. War

KYC Documents (Any one address proof and identity proof)

Recent photograph

Two copies of recent passport size photograph

Employer Introduction letter/ Employee ID Card