Federal Bank decided to launch a new savings account scheme. For the high end salary earners the private sector bank unveiled a savings account scheme – ‘Fed classic Premium’ with overdraft facility.

It has been reported that the scheme will offer overdraft facility up to limit of Rs 1 lakh at base rate. Highlighting the various other features of the scheme Federal Bank General Manager and Head (Retail) A Surendran, said that the scheme will offer highly pleasing interest rates to the employees linked with overdraft facility. There is no condition for minimum balance amount.

The scheme will offer many more attractive facilities, the account holders having salary more than 1 lakh will get free Visa gold card and Visa platinum card will be offered to the ones withdrawing 1 lakh and above. Lately for the professionals, businessmen belonging to industry association bank propelled another saving scheme.