Federal Bank NRI Account: Types, Benefits, and Minimum Balance Requirements

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For Non-Resident Indians (NRIs), Federal Bank NRI accounts offer a range of specialised accounts that make banking seamless, secure, and convenient.

With a focus on delivering high-quality digital services and customer satisfaction, Federal Bank serves over 18.5 million customers. It has a wide network of 1,537 banking outlets and 1,454 ATMs across the country. The bank also operates 602 cash recyclers, ensuring easy access to funds for customers at all times.

To maintain a strong presence, Federal Bank continues to provide futuristic features like contactless debit cards worldwide.

Why Should You Choose a Federal Bank NRI Account?

Federal Bank is a top choice for Non-Resident Indians (NRIs) seeking reliable banking services. Here are some reasons why —

Customised Solutions: Understanding the diverse financial needs of NRIs, Federal Bank offers a variety of account options that cater to your specific requirements.
Tools and Services: With a Federal Bank NRI account, you can access tools like EMI calculators and enjoy secure online banking with advanced security features.
Comprehensive Services: Federal Bank provides a full range of services, including investments, insurance, and remittance solutions. This makes it a one-stop shop for all your financial needs.
Dedicated Relationship Managers: Benefit from personalised guidance through dedicated NRI Managers, who provide expert advice tailored to your financial goals.

Types of Federal Bank NRI Account

Federal Bank offers a variety of NRI accounts, each designed to cater to different needs and preferences.

Federal Bank NRE accounts and NRO accounts are available across 4 main categories —

NRE Savings Account
NRO Savings Account
NRE Deposit Account
NRO Deposit Account

1. NRE Savings Account

Non-Resident Ordinary (NRO) customers can get access to a variety of savings accounts and select the one that suits their needs best.

Let’s compare the different account and their specifications —

A. Fed NRI Care

This NRI savings account is a great choice if you are looking for a hassle-free banking option with modern conveniences. With a low minimum balance requirement, it offers essential features like internet banking, mobile banking, and a digital passbook.

Benefit	Details
Free Cheque Leaves	20 free cheque leaves every year
Mastercard Crown International Debit Card	Rs. 50,000 (AED 2,176)* daily ATM withdrawal limit and Rs. 2,50,000 (AED 10,881)* daily limit for POS/Shopping
Daily Cash Withdrawal	Free daily cash withdrawals up to Rs 10,000 (AED 435)* — valid at any branch
At Par Cheques	Free at-par cheques for all branches
RTGS / NEFT Facility	Free

B. NR Fedfirst

NR Fedfirst is a savings account designed for the younger generation, especially children. It’s an ideal starting point for them to learn how to manage their money and make informed financial decisions.

Specification	Details
Eligibility	Up to 18 years of age (both residents and NRIs)
Contactless Debit Card	Access pocket money 24/7 with a contactless debit card
Standing Instruction Facility	Free standing instruction facility to transfer money from a parent’s account to the child’s account
Nil Debit Card AMC	No annual debit card maintenance charges if the child spends Rs. 10,000 (AED 435)* annually via POS or e-commerce
Systematic Investment Plan (SIP)	Option to invest in mutual funds
Daily Cash Withdrawal Limit (ATMs)	Rs. 2,500 (AED 109)*
Daily POS/E-com Limit	Rs. 10,000 (AED 435)* (daily transaction limit of Rs. 5,000 (AED 218)*

C. Fed NRI Power

Fed NRI Power offers all the features of a smart banking experience, including Digital Passbook and mobile/email alerts. It’s perfect for those who prefer digital channels for managing their finances on the go.

Benefit	Details
Free Cheque Leaves	40 cheque leaves for free in a year
Daily Cash Withdrawal	Free daily cash withdrawals up to Rs 20,000 (AED 871)* through any branch
Clearing, Collection, and Transfer	Unlimited (for free)
Visa Signet Debit Card	Includes Rs. 50,000 (AED 2,176)* daily ATM withdrawal limit and Rs. 3,00,000 (AED 13,058)* daily limit for POS/Shopping
RTGS / NEFT Facility	Free

D. Fed NRI Premium

Fed NRI Premium is ideal if you are seeking exclusive banking privileges and flexibility in your transactions. This Federal Bank account comes with a Visa Platinum International Debit Card, which provides access to premium services and high cash withdrawal limits for added convenience.

Benefits	Details
Free Cheque Leaves	20 at-par cheque leaves (quarterly)
Monthly Account Statement	Free
IMPS Fund Transfer	Free
Platinum International Debit Card	Rs 50,000 (AED 2,176)* daily ATM withdrawal limit and Rs 3,00,000 (AED 13,058)* daily limit for POS/Shopping
Daily Cash Withdrawal	Free daily cash withdrawals up to Rs 50,000 (AED 2,176)* through any branch for your convenience
RTGS / NEFT Facility	Free

E. Fed NRI Privilege

Fed NRI Privilege is an exclusive savings account that provides top-tier benefits and more control over your banking transactions. With unlimited Demand Drafts (DDs) and RTGS/NEFT facility, it is designed to offer extra comfort and flexibility in banking.

Benefit	Details
Free Chequebooks	Unlimited at-par chequebooks for free (50 leaves each)
International Debit Card	Rs 50,000 (AED 2,176)* daily ATM withdrawal limit and Rs 3,00,000 (AED 13,058)* daily limit for POS/Shopping
Cash Withdrawal & Clearing	Free
Outstation Cheque Collection	Free
RTGS / NEFT Facility	Free
Home Loan Processing Fee Discount	25% discount
Locker Charges Discount	50% on annual locker charges (up to Rs. 500 in a year)

F. SB NRE EVE+

SB NRE Eve+ is a savings account specifically designed for women who want to manage their finances with ease. This Federal Bank NRE account offers a seamless banking experience, complete with exclusive privileges.

Benefit	Details
Airport Lounge Access	Once (in a 6-month period) at international terminal lounges across the world Once (quarterly) at domestic and international terminals within India
Complimentary Insurance	Coverage up to Rs. 78 Lakh (AED 339,499)*, including child education benefits, accidental health, hospital cash, and card protection
Power-Packed NRE Eve+ Debit Card	Rs. 75,000 (AED 3,264)* daily ATM withdrawal limit and Rs. 4 lakh (AED 17,410)* daily limit for POS/Shopping
Safe Deposit Locker & Demat/PIS Account	Concessional rates available
Zero Balance for Children	Zero balance savings accounts for two children below the age of 12 years
Home & Car Loan Concessions	50% concession on processing fees/administration fees
Special Home Loan Rates	0.6% reduction from the bank’s card rate on home loans
Free RTGS/NEFT Facility	Free
Wealth Management Support	Expert support for investments in IPOs, mutual funds, and other opportunities
Free Chequebooks	Unlimited at-par chequebooks for free

2. NRE Savings Accounts

Designed for Non-Resident External (NRE) customers, Federal Bank’s NRE savings accounts provide an enhanced banking experience with a range of exclusive features.

A. Fed NRO Power

Benefit	Details
Free Chequebooks	40 cheque leaves free (annually)
Free Monthly Account Statement	Receive monthly account statements for free for easy tracking of transactions
High Cash Withdrawal Limits	ATM cash withdrawals of up to Rs. 50,000 (AED 2176)* per day for free

B. Fed NRO Premium

Benefit	Details
Free Chequebooks	4 chequebooks with 20 leaves each (annually)
Free Branch Transactions	Make free transactions from branches besides your base branch of up to Rs. 50,000 (AED 2,176)* every day
Platinum Debit Card	Free ATM cash withdrawal of up to Rs. 50,000 (AED 2,176)* and POS transactions up to Rs. 3,00,000 (AED 13,058)* daily.

C. Fed NRO Privilege

Benefit	Details
Free Chequebook & Demand Drafts	Available
Free Monthly Account Statement	Available
Domestic Debit Card	Premium benefits
Free ATM Withdrawals	Up to Rs. 50,000 (AED 2,176)*
Free POS Transactions	Up to Rs. 3,00,000 (AED 13,058)*
Safety Deposit Lockers	50% discount on rental fees for safety deposit lockers, with a maximum concession of Rs. 500 (AED 22)*
Retail Loan Processing Fee Discount	25% discount on the processing fees
PIS Annual Fee Discount	50% discount on annual fees for Portfolio Investment Scheme (PIS)

Click here to Start Your Investment Plan!

3. NRE Deposits

Explore Federal Bank’s deposit schemes for safe investment options. These low-risk term deposits offer reasonable returns and are not affected by market fluctuations, unlike stock investments.

4. NRO Fixed Deposit

The Federal Fixed Deposit scheme is perfect for those seeking to invest and earn periodic interest on their funds with minimal risk.

What is the Federal Bank NRI Accounts Minimum Balance?

Here is the average monthly balance amount that you may need to maintain in the account of your choice —

Account Type	Average Monthly Balance
Fed NRI Power	Rs 5,000 (AED 218)*
Fed NRI Premium	Rs 25,000 (AED 1,088)*
Fed NRI Privilege	Rs 1,00,000 (AED 4,353)*
SB NRE EVE+	Rs. 50,000 (AED 2,176)*
NR FedFirst	Rs. 1,000 (AED 44)*
Fed NRI Care	Rs. 1,000 (AED 44)*
Fed NRO Power	Rs. 5,000 (AED 218)*
Fed NRO Premium	Rs. 25,000 (AED 1,088)*
Fed NRO Privilege	Rs. 1,00,000 (AED 4,353)*

* INR to AED rates are subject to change

Eligibility Criteria for Federal Bank NRI Account Opening

Before you initiate the online application process, please ensure the following:

Name Matching: The name in your application form must exactly match the name in your valid passport
Document Validity: Your Passport and NRI Status Proof should have at least 6 months of validity from the date of your application
Eligible Countries: If you're from a high or medium-risk country as per the FATF classification, you may not be eligible to apply online
Age Requirement: Applicants must be 18 years or older
Checklist Compliance: Ensure all required documents are ready and meet the attestation requirements

Documents for Account Opening

Here are the documents that you may need to submit to open an account —

A passport-size photograph
Overseas and Indian address proof
Valid visa with passport and PAN Card

How to Open a Federal Bank NRI Account Online?

For Federal Bank NRI account opening, two convenient options are available: online and offline.

Follow the steps below for online application —

Start the Application: Visit the Federal Bank website and click on ‘Open an Account’ to begin the application process. Select the type of account you would like and press ‘Apply Now’.
Fill in Account and Applicant Details: Enter your account details and basic information.
Upload Documents: You will need to upload all the required documents to proceed with the application further.
Submit the Application: Once all details and documents are uploaded, submit the application. Upon successful submission, you will receive an email containing your account opening form.

If you are applying for it online, take the printout of the application form to sign it and send it back to your nearest branch.

Note that you can directly get assistance by sending an email to nrionline@federalbank.co.in or calling at +91 484 2201729 (India).

Important: Make sure you read the Terms & Conditions carefully before applying for the account.

Frequently Asked Questions

The Federal Bank NRI account minimum balance requirement, varying as per the account, starts from Rs. 1,000. However, keep in mind that the requirement will depend on the type of account you choose.

Yes, Federal Bank is a reliable choice for NRIs as it offers customised banking solutions such as easy remittance, dedicated NRI relationship managers, and higher interest rates.

Yes, you can complete the process of Federal Bank NRI account opening online. The procedure involves filling out the application form, verifying your identity, and submitting necessary documents like your passport, NRI status proof, and photographs. You can also track the progress of your application through their online system.

You can contact Federal Bank’s customer care at nrionline@federalbank.co.in for NRI-related queries. Alternatively, you can connect with the nearest Federal Bank Abu Dhabi representative office or that of your particular Emirate.

Yes, Federal Bank has branches and representative offices in several international locations — the list includes Dubai, Abu Dhabi, Oman, and Kuwait. This allows the bank to provide localised services and support to its NRI customers across the globe.

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