Federal Bank revises FD interest rates; now earn 8% on this fixed deposit tenure

Federal Bank revises FD interest rates; now earn 8% on this fixed deposit tenure



Federal Bank has revised fixed deposit interest rates for both resident and non-resident accounts, effective February 6, 2024. The bank offers an interest rates between 3% to 7.55% for general citizens for tenures between 7 days to 10 years. After the revision, the highest interest rate for general citizens is 7.55% which is offered on a tenure of 500 days.

For senior citizens, the bank offers an interest rate between 3.50% to 8% for tenure between 7 days to 10 years. After the revision, the highest interest rate for senior citizens is 8% which is offered on a tenure of 500 days.

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Latest Federal Bank FD interest rates

Period Less than Rs 200 Lakhs – General Public Less than Rs 200 Lakhs – Senior Citizen
7 days to 29 days 3.00% 3.50%
30 days to 45 days 3.25% 3.75%
46 days to 60 days 4.00% 4.50%
61 days to 119 days 4.75% 5.25%
120 days to 180 days 5.00% 5.50%
181 days to 270 days 5.75% 6.25%
271 days to less than 1 year 6.00% 6.50%
1 year to less than 13 months 6.80% 7.30%
13 months to 499 days 7.30% 7.80%
500 days 7.50% 8.00%
501 days to 21 months 7.30% 7.80%
Above 21 months to less than 3 years 7.05% 7.55%
3 years to less than 5 years 7.00% 7.50%
5 years and above 6.60% 7.25%

Source: Bank website
Penalty for premature withdrawal
These are the penalties associated with early withdrawal from rupee term deposits opened or renewed as of October 21, 2022.

Period of Deposit* Penal Interest
Single deposit of less than ₹2Crores Single deposit of ₹2Crores and above
Up to and including 15 days 0% 1%
Above 15 days 1% 1%

Latest Federal Bank NRE FD rates

Federal bank offers interest rate between 6.60% to 7.50% for tenure ranging from 1 year to 5 years and above. The highest interest rate is offered on 500 days tenure.

Period Single Deposit Less than Rs200 Lakhs
1 year to less than 13 months 6.80%
13 months to 499 days 7.30%
500 days 7.50%
501 days to 21 months 7.30%
Above 21 months to less than 3 years 7.05%
3 years to less than 5 years 7.00%
5 years and above 6.60%



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Author: Shirley