Federal Bank Launches Noor Personal Accounts (Non-Interest Bearing Resident Accounts)


Faceinews Logo - Copy

Chennai, 4th December 2017: On the day of Milad-E-Sherif, Federal Bank launched “Noor Personal Account”- a non-interest bearing personal account for resident individuals. Launching of the product was done by Shri Navas M Meeran, Managing Director of Eastern Group of Companies. Shri Jose K Mathew, EVP and Head-Retail Business, Shri Sunny NV, SVP and Head Ernakulam Zone, Shri Kuriakose Conil, VP- Retail business, Shri Joy Paul, DVP and Regional Head Aluva attended the function. The holders of this account are eligible for Platinum Rupay card with daily transaction limit of Rs 2 Lakhs and access to lounges at select airports two times a quarter.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,680 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.72 Lakh Crore as at June 30, 2017 and it has earned a net profit of Rs 210.15 Crore for Q1 FY18.  Bank’s Capital to Risk weighted Ratio (CRAR) stood at 15.28% at the end of June 30, 2017.  Federal Bank has its Representative Office at Dubai and Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress. During FY 17 the bank handled around 15 % of the total personal inward remittance to India.