Retirees Space

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Retirees' Space

Retirees' Space

Retirees' Space is designed to help and guide the retirees of the Bank. The space provides access to the links which help them with the necessary details and documents they may require.



Medical Insurance Scheme in respect of Retired Employees of the Bank


Medical Insurance Scheme in respect of Retired Employees of the Bank has been renewed for one year w.e.f 01/11/2019, in association with M/s. United India Insurance Co. Ltd. and M/s. Vidal Health TPA.  Both the retired employee and spouse of the retired employee are covered under the Scheme. The Policy has been renewed by the Insurance Company with the following options and retirees are covered as per their choice and eligibility, subject to payment of required premium.


Option I – Without Domiciliary Coverage

Under the Option, expenses incurred for hospitalization alone are envisaged in the scope of the policy and expenses incurred for domiciliary treatments are not covered. The coverage under this option shall be as given below.



Total Sum Insured

Officers (Retired)

Rs. 4 Lakh

Award Staff (Retired)

Rs. 3 Lakh

The Scheme envisages either cashless or reimbursement facility in the case of hospitalization.  Cashless facility will be available only at selected Network Hospitals, as approved by the TPA. The list of Network Hospitals, where cashless facility can be availed, is made available in the Website of Third Party Administrator (M/s. Vidal Health TPA) In order to make use of the cashless facility, beneficiaries may approach the Insurance Desk maintained at the Network Hospitals, with the ID Cards already provided to the retiree along with another valid ID proof.  In case of any contingencies, E- Cards will be provided by the TPA via email to the beneficiaries, on demand. The TPA may be contacted in the following email ID .In case employee/dependents are admitted to a Hospital and not availing cashless facility, details of such hospitalization shall have to be invariably intimated to the Insurer/Third Party Administrator within 48 hrs from the date of hospitalization and the claims shall be submitted in the prescribed format (annexed), with all required documents mentioned therein, directly to Third Party Administrator, within 30 days from the date of discharge.


Option II – With Domiciliary Coverage


Under the Option, expenses incurred for domiciliary treatment are also covered, for a list of diseases as annexed, in addition to the hospitalization expenses. However, the coverage for domiciliary expenses is capped at a maximum of 10% of the total Sum Insured, i.e. Rs. 40,000/- for Officers and Rs. 30,000/- for Award Staff. Please note that, the total coverage under this option including that for domiciliary treatment is limited to the total Sum Insured as applicable in the respective cadre of the retiree (Rs.4 Lakh in the case of Officer and Rs. 3 Lakh in the case of Award Staff). Coverage under this option shall be as given below.



Total Sum Insured

Domiciliary Cover

(10% of overall Sum Insured)

Officers (Retired)

Rs. 4 Lakh

Rs. 40,000/-

Award Staff (Retired)

Rs. 3 Lakh

Rs. 30,000/-


Super Top- Up Policy without domiciliary cover


The Salient features of the Super Top – UP Policy introduced by M/s. United India Insurance Company Ltd are as given below.

  1. Super Top – UP Policy can be availed with any of the Basic Policy either Option I or Option II

  2. Nature of Policy - Top Up without domiciliary coverage

  3. Members of Basic Policy are eligible to be covered under the Policy

  4. Super Top- Up Policy will be invoked only if the Sum Insured under the Basic Policy is exhausted

  5. The other terms and conditions applicable to the Super Top – Up Policy shall be the same as in the case of Basic Policy.

  6. Cashless / Reimbursement facility is available in connection with Hospitalization

  7. Policy period : 01.11.2019 - 31.10.2020

  8. The coverage under Super Top – Up Policy shall be as given below:



Sum Insured under the Super Top – Up Policy (without domiciliary benefit)

in addition to the coverage under Basic Policy

Officers (Retired)

Rs. 5 Lakh

Award Staff (Retired)

Rs. 4 Lakh


The claims in this regard shall be submitted in the prescribed format (hospitalization claim format), directly to Third Party Administrator (M/s. Vidal Health TPA).


TPA  Address:

M/s. Vidal Health TPA Services, Door No. 40/3232, 2nd Floor, SL Plaza, Palarivattom, Kochi – 682025. Kerala

For any queries, please feel free to contact in the No. 9544971166/0484 – 2634308 or please email to

Policy document received from the Insurance Company has been published for the reference of all concerned.


Special Personal Loan Scheme to Pensioners of the Bank

A Special Personal Loan Scheme has been introduced by the Bank in April 2015 in respect of Employees who have retired from the services of the Bank on attaining the age of superannuation and those who have retired at the age of 55 or above under VRS/VSS.

Various refinements have been brought in the scheme from time to time. The refined Personal Loan Scheme, extended to all Ex- Federals who are currently pensioners of our Bank, is reproduced below for the information of all concerned.


  • Applicant shall be a Pensioner of the Bank
  • Employees who retired from the services of the Bank on attaining the age of superannuation and employees who retired at the age of 55 or above under VRS/VSS shall be eligible for the Loan
  • Minimum take home pension/ income after meeting all commitments towards loans including the proposed one should be Rs. 7500/-

Type of Facility

Term Loan

Loan Amount

Upto 10 times of Monthly Pension or Rs.2.00 Lakh, whichever is lower.



  • By way of auto recovery from the SB account to which the Pension is credited, based on the irrevocable Letter of Authority.


  • Maximum 48 months or upto the date on which the Pensioner attains the age of 70 years, whichever is shorter.

Rate of Interest

Repo Rate + 5.60% (Spread)

Late Payment Fee

2% p. m. in case of default

Processing Fee



  • Co-obligancy of Spouse
  • In case of widow/widower, co-obligancy of any earning family member



Three undated crossed blank cheques in favour of Federal Bank


  • Maximum 65% irrespective of income level
  • No relaxation permitted

Internal Credit Rating & CIBIL

  • CIBIL Score as per Retail Loan norms
  • CIR from CIBIL to be taken
  • Charges pertaining to CIBIL report to be borne by the Pensioner

Sanctioning Authority


Disbursal Branch

Loan to be disbursed only through the Branch where the Pensioner is maintaining the Pension Account

Other Terms & Conditions

All other terms & conditions of Federal Personal Loans (as applicable to general public)


Identity Cards to Retired Employees

We are pleased to inform that the Bank has decided to issue ID Cards to all the employees, who have retired from the services of the Bank on superannuation. In order to make arrangements to issue the ID Card, employees retired from the services of the Bank on superannuation are requested to submit the application as per the format can be downloaded from here. Kindly forward the application, duly attested by the Principal Officer of the nearest Branch/Office, to HR Employee Relations & Operations.



Relaxations in the norms of Staff Loans in respect of employees retired from the Bank 

At present, employees are permitted to continue Vehicle Loan, Housing Loan and Federal Vidya Loan / Federal Career Solutions Loan even after their retirement. On a review, it is decided by the Bank to extend the relaxations to those who have retired from the services of the Bank on superannuation subject to certain conditions. 

Submission of Life Certificate for continuing the Superannuation Pension

Retired Employees who are drawing monthly pension from the Bank, shall submit Life Certificate during the month of September every year. Duly filled up and signed application shall be submitted to any Branches of Federal Bank for onward submission to Head Office- HR Department. The format for Life Certificate can be downloaded from here.

Application for Commercial Employment

All pension opted Retiree Officers of the Bank who wish to accept / engage in any commercial employment / practice for any gainful employment within two years from the date of their retirement shall obtain prior permission from the Bank. The format for application can be downloaded from here.


Employee Stock Option Scheme 2010- Lapse of Options

As per the Employee Stock Option Scheme, the Exercise Period of Stock Options commences from the Date of Vesting of Options, which will expire on completion of five years from the respective date of Vesting of Options. As such, any decision with regard to exercising of the Options has to be taken by the beneficiaries within this period.  All concerned may take note that the Options vested will get lapsed, if not exercised within the specified Exercise Period, which will be consequently considered as Options that have not been granted.
The Options vested on 31st May, 2015 (Fourth Tranche in respect of Grant for the Year 2011 at an Exercise Price of Rs.42.07) under ESOS 2010 would lapse, if not exercised within 30th May, 2020.  It is reiterated that as per the Scheme, Options once lapsed shall be treated as Options that have not been granted and hence, the beneficiaries would not have any claim on the lapsed Options on a later date.
In this background, all concerned are advised to take necessary steps to exercise the Options before the expiry date itself. Details of Vesting Schedules and respective Expiry Dates can be viewed by the eligible beneficiaries by accessing ESOS Online.

ESOS Online site can be accessed by clicking the link below.

ESOS Online

Payment of Exercise Price and Perquisite Tax through Fednet for ‘ESOS Online' is enabled. Please click here to know more.



Retired employees can address their grievances to bank. Please Click here for more details.