With a network of around 1550 banking outlets and 2054 ATMs/Recyclers across India, Federal Bank also plays a central role for Non-resident Indian customers in the UAE. At an event in Dubai recently, the bank unveiled ‘Prospera’, an NRE (non-resident external) savings account crafted to meet the modern needs of its customers.

The new facility offers a range of benefits from complimentary insurance benefit up to Rs60 lakh, to complimentary airport lounge access, and special rewards for debit card spends. Designed for the emerging NRI segment, Prospera comes with attractive offers as well. Federal Bank has announced a discount of up to 24% on flight and hotel bookings on select travel platforms using Prospera Debit Card. This introductory offer is accompanied by another where a customer can avail of zero charges on domestic fund transfers via NEFT, RTGS, and IMPS.

“For over seven decades, Federal Bank has been a trusted partner for non-resident Indians across the globe, facilitating their financial aspirations and connections with home,” said K.V.S. Manian, MD and CEO of Federal Bank. “Today, we handle approximately one-fifth of India’s inward remittances, symbolizing the immense trust that the Indian diaspora and our partners place in us. We recognize that today’s NRI customers seek more than just basic banking and want to enjoy a comprehensive financial experience that matches their aspirations and lifestyle. We are committed to continuously evolve and enhance our products and services to meet the changing environment and the needs of our customers.”

The bank’s achievements such as market leadership in remittance services, digital innovation in cross-border banking, a strong presence across key NRI markets, a robust remittance partnership network in the UAE, and consistent growth in NRI deposits were highlighted during the launch of Prospera.

“Our new offerings reflect our understanding of the evolving needs of the Indian diaspora and our commitment to serving them better,” said Joy P.V., Executive Vice-President and Country Head – Deposits, Wealth and Banca, Federal Bank. – editor@nrifocus.com