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The private sector lender Federal Bank has revised interest rates on fixed deposits of less than ₹2 Cr. As per the official website of the bank, the new rates are effective as of today 18-11-2022. Following the revision, the bank is now offering an interest rate ranging from 3.00% to 6.30% for the general public and 3.50% to 6.95% for senior citizens on FDs maturing in 7 days to 2223 days and above. For deposits maturing in 700 days, the bank is now giving a maximum interest rate of 7.25% for the general public and 7.75% for senior citizens.
Federal Bank FD Rates 2022
The bank is now giving an interest rate of 3.00% on deposits maturing in the next 7 to 29 days, while Federal Bank is now offering an interest rate of 3.25% on deposits maturing in the next 30 to 45 days. Current interest rates offered by Federal Bank are 4.00% for FDs maturing in 46 days to 60 days and 4.25% for those maturing in 61 days to 90 days. Deposits maturing from 91 days to 119 days will now fetch an interest rate of 4.50% and those maturing from 120 days to 180 days will now fetch an interest rate of 4.75%.
The bank is presently offering an interest rate of 5.00% on deposits maturing in the next 181 days to 270 days, and 5.50% on deposits maturing in the next 271 days to less than a year. Deposits with a 1-year maturity will now earn interest at a rate of 6.25%, while those with a maturity of between 1-year and 20 months will now earn interest at a rate of 6.00%.
Current interest rates offered by Federal Bank are 6.25% for FDs maturing in 20 months and 6.10% for those maturing from above 20 months to 699 days. On deposits maturing in 700 Days, the bank is now offering an interest rate of 7.25% and on those maturing in 701 days to less than 3 years, Federal Bank is now offering an interest rate of 6.40%. Federal Bank is now offering an interest rate of 6.50% on FDs maturing in 3 years to less than 5 years and 6.30% on those maturing in 5 years to 2221 days. Deposits maturing in 2222 Days to 2223 days and above will now fetch an interest rate of 6.50% and 6.30%.
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The interest rates on resident term deposits also apply to NRO fixed deposits, federal savings accounts, federal tax savings accounts, and resident cash certificates. At Federal Bank, the minimum deposit amount for a fixed deposit is merely Rs. 1000. There is no maximum deposit amount, and interest may be received on a monthly, quarterly, or annual basis. You can take loans against fixed deposits with Federal Bank up to 90% of the deposits. You can choose from a variety of interest payment options, such as monthly, semiannually, quarterly, or yearly interest payments, automatic renewals, and automatic crediting of interest and principal on due dates to your Federal Bank savings accounts.
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