The word ‘selfie’ is on everyone’s lips. Whether it is a family function or a solo trip, it has almost become mandatory to click a few selfies. However did you know that you can open a bank account by clicking your selfie?Federal Bank offers customers to open Fedbook Selfie, zero balance saving account through a selfie.
Fedbook Selfie is a zero balance savings account that you can open by downloading the Federal Bank mobile banking app through the Play Store and App store. You can open this account by using the Aadhaar and PAN card. Only Indian citizens can open this online savings account.
There are two ways to open the Federal Bank Selfie account.
‘FedBook Selfie Account’ and ‘FedBook Selfie E KYC Account’ are the two variants of the bank account. After opening the FedBook Selfie Account, you need to visit the bank branch to activate your account.
You can open FedBook Selfie E KYC Account instantly using the Aadhaar OTP.
Download the Fedbook selfie app, “Federal Bank – FedMobile’ from play store or iOS app store.
Click on ‘Register’.
Enter your mobile number and click on ‘Proceed’ to continue.
Tap on ‘Open a new account’
Select the nearest bank branch.
In this step, you will get two options to open the bank account: FedBook Selfie Account and FedBook Selfie E KYC Account or FedBook Selfie Lite.
FedBook Selfie Account:
• Take your Selfie
• Take a photo of your Aadhaar card or Scan your Aadhaar card QR code
• Scan your Pan card
FedBook Selfie E KYC Account:
• Add your details.
• Add your Aadhaar number or Scan the Aadhaar QR code.
• Verify the OTP received on your Aadhaar registered mobile number.
• Click a copy of your PAN card.
• Add your PAN number and other basic details will be auto populated.
• Add the other required details, communication address (if it differs from the Aadhaar registered address).
Your account is now open and you will find your account details. You can set up your mobile banking PIN through which you carry out the various banking transactions. Take a screenshot for future reference.
Account Opening Process: You can open FedBook Selfie E-KYC bank account instantly through your PAN, Aadhaar number and Aadhaar registered mobile number. The account is activated within minutes.
In case of FedBook Selfie account, after you complete the online account process, you need to visit a bank branch to activate your bank account.
Zero Balance Account: The FedBook Selfie Account is a zero balance savings account. It means that there is no minimum average balance.
Validity: FedBook Selfie E-KYC is valid for 12 months. To continue with the account, you need to complete the full KYC process by visiting the nearest Federal Bank branch.
After the Selfie account is activated by visiting the bank branch, the account is valid for a lifetime.
Limitations: Before customers complete the full KYC process, Lite account holders can’t keep more than Rs.1 lakh in the account. The aggregate credits in a financial year cannot exceed Rs.2 lakhs. If account holders cross the threshold limit, credit and debit transactions are blocked.
In the Selfie account, there are no limitations on balance and credits.
You can open Selfie Lite account instantly by adding your PAN card and Aadhaar details. In case of Selfie Account, visit the nearest bank branch to activate your account.
There is no maximum balance on Federal Bank Selfie Account. However, for E-KYC account opened through the Aadhaar OTP, the maximum balance is Rs.1 lakh.
Federal Bank selfie account is a zero balance account. Hence, there is no minimum balance in the account.
FedBook Selfie is a digital passbook that keeps a track of your credit and debit transactions.
Account opening, non-maintenance of minimum balance charges, online transfer money through RTGS, NEFT, email alert, E-mail account statement are free.
The annual charge for a debit card is Rs.300 plus taxes. Cheque book are issued on request at Rs.5 per leaf.
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