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Federal Bank launches Stellar Savings Account & MasterCard enabled Stellar Debit Card

Published on February 17, 2024
Current Context: Federal Bank has launched the Stellar Savings Account and the MasterCard enabled Stellar Debit Card.
Federal Bank launches Stellar Savings Account & MasterCard enabled Stellar Debit Card
Here are some key features of these offerings:
  • Stellar Savings Account:
    • Milestone Rewards: Earn Reward Points when you complete milestones and get accelerated reward points when you spend using your Debit Card.
    • Complimentary One Year Wellness Plan: This includes Fitness tracking, psychologist consults, telemedicine, and offline care.
    • Complimentary Insurance Cover: Coverage includes Personal Accident Cover, Disability Cover, and Hospital Cash.
    • Powerpacked Eco Friendly Debit Card: Save up to ₹50,000* per year using the Debit Card offers on your Stellar Debit Card.
  • MasterCard enabled Stellar Debit Card:
    • Mastercard has launched the MDES (Mastercard Digital Enablement Service) Token Connect in India to enable card-on-file and device tokens for debit and credit cards through issuer banks’ mobile and internet banking channels.
    • MDES Token Connect is a consumer-centric platform that supports issuer-initiated tokenization.
    • It aims to provide a convenient and secure way for cardholders to transact online.
    • Issuer banks can easily integrate their mobile and Internet banking platforms with MDES Token Connect.
    • These offerings are part of Federal Bank’s commitment to providing innovative solutions that meet the evolving needs of its customers.

Question:

Q.1 What is one of the benefits of the Stellar Savings Account?
a. Milestone Rewards
b. Free movie tickets
c. Discount on groceries
d. Free flight tickets
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