Federal Bank has announced an interest rate hike on fixed deposits (FDs) of less than ₹2 Cr. Following the modification, interest rates on deposits maturing in 7 days to 2223 days and above will range from 3.00% to 6.60% for the general public and from 3.50% to 7.25% for senior citizens. Senior citizens will now receive a maximum return of 7.75% on deposits with a tenor of 15 months to two years, while non-senior citizens will receive a maximum return of 7.25%. According to Federal Bank’s official website, the most recent FD rates are in effect as of February 17, 2023.
Federal Bank has announced an interest rate hike on fixed deposits (FDs) of less than ₹2 Cr. Following the modification, interest rates on deposits maturing in 7 days to 2223 days and above will range from 3.00% to 6.60% for the general public and from 3.50% to 7.25% for senior citizens. Senior citizens will now receive a maximum return of 7.75% on deposits with a tenor of 15 months to two years, while non-senior citizens will receive a maximum return of 7.25%. According to Federal Bank’s official website, the most recent FD rates are in effect as of February 17, 2023.
Federal Bank FD Rates
The bank is giving an interest rate of 3.00% on fixed deposits that mature in the next 7 to 29 days, and Federal Bank is promising an interest rate of 3.25% on deposits that mature in the next 30 to 45 days. A deposit tenor of 46 days to 60 days will earn interest at a rate of 4.00% from Federal Bank, and a deposit tenor of 61 days to 90 days will earn interest at a rate of 4.25%.
Federal Bank FD Rates
The bank is giving an interest rate of 3.00% on fixed deposits that mature in the next 7 to 29 days, and Federal Bank is promising an interest rate of 3.25% on deposits that mature in the next 30 to 45 days. A deposit tenor of 46 days to 60 days will earn interest at a rate of 4.00% from Federal Bank, and a deposit tenor of 61 days to 90 days will earn interest at a rate of 4.25%.
Deposits maturing between 91 and 119 days from now on will earn interest at a rate of 4.50%, while deposits maturing between 120 and 180 days from now on will earn interest at a rate of 4.75%. The bank now offers an interest rate of 5.75% on fixed deposits maturing in the next 181 days to 270 days, and a rate of 6.00% on those maturing in the next 271 days to less than a year.
Deposits maturing between 91 and 119 days from now on will earn interest at a rate of 4.50%, while deposits maturing between 120 and 180 days from now on will earn interest at a rate of 4.75%. The bank now offers an interest rate of 5.75% on fixed deposits maturing in the next 181 days to 270 days, and a rate of 6.00% on those maturing in the next 271 days to less than a year.
Currently, Federal Bank is giving interest rates of 6.80% for deposits held for one year or less to less than 15 months and 7.25% for deposits held for 15 months to two years. Deposits with maturities of more than two years but less than three years will now earn interest at a rate of 6.75%, while those with maturities of three years to 2223 days and above will now earn interest at a rate of 6.60%.
Currently, Federal Bank is giving interest rates of 6.80% for deposits held for one year or less to less than 15 months and 7.25% for deposits held for 15 months to two years. Deposits with maturities of more than two years but less than three years will now earn interest at a rate of 6.75%, while those with maturities of three years to 2223 days and above will now earn interest at a rate of 6.60%.
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The Repo rate, or the rate at which the RBI lends money to banks, was increased by 25 basis points to 6.50 percent on February 8 by the Reserve Bank of India’s Monetary Policy Committee (MPC) in an effort to lower consumer price inflation. Federal Bank announced an increase in interest rates for savings accounts after the adjustment. Federal Bank increased the interest rates on savings accounts that are linked to repo rates on February 9th, 2023.
The Repo rate, or the rate at which the RBI lends money to banks, was increased by 25 basis points to 6.50 percent on February 8 by the Reserve Bank of India’s Monetary Policy Committee (MPC) in an effort to lower consumer price inflation. Federal Bank announced an increase in interest rates for savings accounts after the adjustment. Federal Bank increased the interest rates on savings accounts that are linked to repo rates on February 9th, 2023.
At Federal Bank, a fixed deposit only requires a minimum deposit of Rs. 1000, and interest may be received on a monthly, quarterly, or yearly basis. On the maturity date, interest and principal will be automatically deposited to your Federal Bank savings account. By signing up for a fixed deposit plan at Federal Bank, you can choose from a variety of interest payment options, including monthly, semiannually, quarterly, or yearly interest payments, automatic renewals, automatic crediting of interest and principal to your account on due dates, etc. You can also get a loan against fixed deposits up to 90% of the initial deposit and also sign up for an automatic renewal feature against your Federal Bank fixed deposits.
At Federal Bank, a fixed deposit only requires a minimum deposit of Rs. 1000, and interest may be received on a monthly, quarterly, or yearly basis. On the maturity date, interest and principal will be automatically deposited to your Federal Bank savings account. By signing up for a fixed deposit plan at Federal Bank, you can choose from a variety of interest payment options, including monthly, semiannually, quarterly, or yearly interest payments, automatic renewals, automatic crediting of interest and principal to your account on due dates, etc. You can also get a loan against fixed deposits up to 90% of the initial deposit and also sign up for an automatic renewal feature against your Federal Bank fixed deposits.
