Federal Bank Launches NR Saving Accounts for Seafarers

Federal Bank launched an exclusive NR savings account scheme for the Seafarer segment. This scheme is specially curated and crafted for the mariners and its services are clubbed with state-of-the-art digital banking platforms that help the mariners enjoy seamless banking transactions,  irrespective of the geo-coordinates and time zone differences. 

The scheme offers facilities like preferential exchange rate for monthly inward remittances, premium debit card with domestic airport lounge access, linked zero balance NRO account, and bespoke financial planning and customised wealth management products and services. 

“Federal Bank has always been a pioneer in the non-resident customer segment.  With a market share of over 6.6 per cent in this business, along with a market share in excess of 17 per cent in personal inward remittances to India, the bank lives by the mantra of digital at the fore, human at the core” said Shalini Warrier, Executive Director of Federal Bank. 

 The scheme is available in both NRE SB and NRO SB variants.