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FedFirst – Children Saving Account

Published on February 04, 2021
Current Context: The Federal Bank launched the Saving Account for Children named as ‘FedFirst’.
FedFirst – Children Saving Account
  • It is launched for the children of up to age 18 years.
  • The account is applicable for both resident and NRIs.
  • The FedFirst Saving Account will help children to know the money management process and the importance of money.
  • The bank also offers a contactless debit card to the account holders of FedFirst account.
  • The account is made available with the feature of withdrawing daily cash of up to Rs 2500 from ATMs.
  • The daily shopping limit of PoS or E-commerce is Rs 10,000.
  • It offers reward points and seasonal cashback on debit card usage.
  • The FedFirst Saving Account also provides free online facilities like access to internet banking, mobile SMS alerts and email alerts.
  • Static Part: 
    • HQ of Federal Bank: Aluva, Kerala
    • Tagline of Federal Bank: Your perfect banking partner

Question: 

Q.1 What is the name of Saving Account launched by Federal Bank to the children of upto age 18 years?
a. ‘FederalChild’
b. ‘FedFirst’
c. ‘SmallFed’
d. ‘MiniFederal’
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