All About the Federal Bank Stellar Savings Account

Introduced in February 2024, the Stellar Savings Account by the Federal Bank is designed with the modern consumer in mind. This account isn’t just a place to store money but a financial tool that rewards users for saving, making wise spending choices, and leading a healthy lifestyle. The Stellar Savings Account offers benefits beyond traditional banking perks, including milestone rewards, a free one-year wellness plan, special insurance coverage, and an eco-friendly debit card. For anyone looking to maximize their money’s potential and lead a balanced life, the Stellar Savings Account is a game-changer. This account can be availed by maintaining a minimum Average Monthly Balance of ₹10,000.

Here are some of the key features of the Stellar Savings Account.

Milestone Rewards

When you meet certain goals with your account, you not only feel good about achieving them, but you also earn reward points, even on special occasions, like on your birthday month. These points and the savings from the debit card’s offers increase the financial benefits, making the account a tool for saving and rewarding your progress. You may have specific goals, such as depositing a certain amount of money within a set time or using your debit card for payments. The rewards program gives you extra benefits for using your debit card, so your everyday transactions can help you earn rewards.

Milestone	Time Period	Reward
Remit ₹10,000	Within 30 days	100 Reward Points
1st Bill payment through Fedmobile	Within 60 days	100 Reward Points
Open RD	Within 90 days	100 Reward Points
Spend ₹50,000 with Debit card	Within 180 days	Gift Voucher
Spend ₹2,000 in your B’day month	Within 365 days	Gift Voucher

Free One-Year Wellness Plan

The Federal Bank Stellar Savings Account’s complimentary wellness plan focuses on overall health. It offers fitness tracking, access to psychologists, telemedicine, and in-person care. The plan aims to maintain physical and mental well-being. This is only available for the first year.

• Daily Health and Wellness: Daily health and wellness involve nurturing your body and mind. With the Stellar Savings Account, you can accurately track your fitness and other physical parameters.
• Mental Wellness: Mental wellness means maintaining a balanced and healthy psychological state. Stress management, self-care, emotional expression, mindfulness practices, and building strong, supportive relationships are achieved through it. With this savings account by Federal Bank, customers shall be provided psychologist consultations to enhance their mental health.
• Telemedicine: Take advantage of virtual healthcare consultations with doctors through digital platforms, providing convenient access to medical advice, diagnosis, and treatment anytime, anywhere.
• Offline Care: Offline care involves in-person medical services like routine check-ups, diagnostics, and treatments. It ensures you receive personalized attention and physical examinations for comprehensive healthcare management.

Insurance Coverage

When you open a Stellar Savings account, you get a special extra benefit without any cost, including an insurance plan that could support you with more than ₹10 lakhs. This insurance includes help if you have an accident or become permanently disabled, providing up to ₹10 lakh. If you need to stay in the hospital because of an accident or illness, this plan can give you ₹1,000 every day you’re there for up to 10 days.

Eco-Friendly Stellar Debit Card

The power-packed eco-friendly Stellar Debit Card is designed for people who want to save money and care for the environment. With this card, you can save up to ₹50,000 every year because of its many offers. It also has a withdrawal limit from ATMs and a shopping limit. Getting and maintaining this card every year comes with a small fee of ₹300; if you spend ₹75,000 a year using this debit card, then the annual maintenance charges will be waived.

Features	Limit
Withdrawal Limit	₹50,000
Shopping Limit	₹3,00,000
Issuance Fee	₹300
Annual Maintenance Charge	₹300

Reward Points on Debit Card Spends

By using your debit card, you can now earn reward points at a faster rate, adding more excitement to maximizing its value. Whether you’re a travel enthusiast, a fashionista, or a foodie, earning reward points on every purchase brings you closer to amazing rewards.

• Earn 5X reward points on all your travel-related spending.
• Receive 3X reward points when you splurge on the latest gadgets and electronics.
• Earn 2X reward points on fashion purchases.

A maximum of 1,000 Reward Points can be earned in a month. For more details regarding the Stellar Savings Account, click here. 

Bottom Line

The Stellar Savings Account provides various benefits designed to reward saving, promote healthy living, and encourage eco-friendly spending. With milestone rewards, a free wellness plan, and insurance coverage, it goes beyond traditional banking. The environmentally friendly debit card encourages reliable living and provides significant savings through various offers. It promotes a healthy lifestyle by rewarding daily spending, making it a beneficial financial product.