Fi is a financial app that includes a zero-balance savings account for working professionals. It assists you in keeping track of your spending, growing your money, and organizing your finances. It also has certain unique characteristics that have the potential to change the way money is handled in the financial world.
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Fi Savings Account Features:
|Money is covered up to Rupees 5,000,000|
|There is no minimum balance requirement.|
|On debit cards, there are no foreign exchange fees.|
|There are no hidden costs.|
|Rewards that have been hand-picked.|
FI Money Fees & Charges :
|(MOB) Minimum balance requirement for FI Money saving account||There are no fees for having a low balance! However, we recommend that you transact/save/deposit at least Rs.20,000 every month to fully use all of Fi’s features.|
|Account Maintenance||No Fees Rs.0|
|Debit Card Charges:||Each user will receive a free VISA Platinum Debit Card when they create a Fi Savings Account.
There are no issuance costs.
There are no yearly card maintenance fees.
|ATM Transactions||“Withdrawals are free at any Federal Bank ATM.
At other ATMs, you’ll get five free transactions each month.
After that, each transaction costs Rupees 20.
|International ATM charges||“Your Fi Debit Card can be used everywhere VISA is accepted.
We charge a fee of Rs.100 when you withdraw cash from an international ATM.
There is a minimal charge of Rs.25 for any non-financial transactions (such as requesting a Mini Statement) at these ATMs.”
|Multiple Card Replacements||The cost of a 2nd replacement card is Rs.250|
|Fuel surcharge||“Expect a fee on POS purchases at Petrol Pumps.
It’s either 2.5 percent of the transaction amount or ten rupees, whichever is more “”More.”
|STRUCTURE||CLOSING BALANCE OF THE DAY||RATES OF INTEREST (PER ANNUM)|
|1||Less than ₹5 Crores||1.50% below RBI’s Repo Rate|
|2||₹5 Crores and above||1.50% below RBI’s Repo Rate for amount up to and including ₹1Lakh|
|3||0.20% below RBI’s Repo Rate for the remaining balance above ₹1Lakh|