In case you wish to apply for any of the IPOs through Federal Bank NetBanking (via ASBA), this post is for you. Your respective bank will have the corresponding ASBA section.
ASBA stands for Application Supported by Blocked Amounts. This system ensures that the amount needed to apply for an IPO is blocked in the selected savings account, without being debited. Only in the scenario of allotment is the amount finally debited.
So, here’s the process:
- Go to the Federal Bank homepage.
IMPORTANT: In case this is the first time, using this facility, you will have to register your Demat account details by clicking the “ASBA Registration” button. This is only a one-time activity. When using ASBA subsequently, you will not have to undergo the ASBA registration.