Kerala based Federal Bank has upgraded its mobile banking application with new features. Customers can now open term deposits, recurring deposits and tax saving deposits via mobile baking application. The update also includes the facility such as hotel and bus booking and digital payments for various utilities including insurance, mutual funds, donations etc. The updated features can be used by both resident and NRI customers of the bank.
Federal Bank has launched Digital Personal Loans for its customers to avail personal loans instantly with minimal paper work. Now customer can get personal loans in a minute by just logging into its website. The loan money will be credited to the account of the customer after the approval of the offer by the borrower. This is the third digital retail loan scheme offered by the bank after car loan and loan against term deposit.
Federal Bank has come with a reward program to its customers who refer FedMobile to friends or relatives. FedMobile is a transaction app of Federal Bank. Now customers can share the app link with the friends by clicking Refer A Friend option given in the FedMobile app home page. This message can be shared using Whatsapp, mail, Facebook etc without any cost. Customer who referred will get Rs. 50 when the referred friend does his first transaction from the app. This app can be used for availing banking facilities, bill payments, Funds Transfer and also for making future payments in advance.
Federal Bank has partnered with Chillr which is a mobile banking application that connects a person directly to its bank account and enables to make bill payments, transfer money and phone recharge. This facility will help customers to do cashless transactions at any time and manage their banking requirements at a single stage. Customer can initiate their transactions on Chillr with total security authenticated by a secure PIN provided by the bank. The app is available to all the customers of Federal Bank.
Federal Bank entered into partnership with MMTC to allow its customers to buy Indian Gold coins, that are a part of National Gold scheme launched by government in November 2015
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