Federal Bank has come out with an update for its award winning mobile banking platform – FedMobile. Bank has added the facility to open term deposit in FedMobile and this will be available to both resident and NRI customers. Customers can also open recurring deposits and tax saving deposits, in addition to making fixed deposits. The recent update also includes facility for hotel and bus booking.
FedMobile is already equipped with the capability for effecting payment towards various utilities such as electricity, telecom, gas, insurance, mutual funds, and donations.