Federal Bank Launch ‘Remit & Retain’ Scheme for NRIs

Federal Bank launched ‘Remit & Retain’ scheme for NRI customers of the Bank. The scheme will be open during the period 16.02.2015 to 31.03.2015. All NRI customers who remit Rs 1 Lakh or above as a single remittance to their NRE Savings/ Current Account during this period, and retain the same for a minimum of 45 days will get a Wildcraft “Pac N Go” Sling Bag as assured gift. Remittances can be made through foreign inward remittance or transfer from other banks. Launching the scheme, Mr. Jose Skaria, Head, International Banking, Federal Bank said ‘Remit & Retain’ scheme will be another avenue to reward and reaffirm the relationship with our valuable patrons.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1222 branches and 1,477 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at  Rs 1.03  Lakh  Crore as at March 31, 2014and it has earned a net profit of Rs 838.89 Crore.  Its Capital to Risk weighted Ratio (CRAR) stood at 15.14% at the end of March 31.  Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.