Interest rate on term deposits of residents of the Federal Bank
On single term deposits of less than Rs 2 Cr, regular customers and seniors will now benefit from the following interest rates on their deposits with a maturity of 7 days to 5 years and more.
Mandate | Regular interest rates (pa) | Elderly (pa) |
---|---|---|
7 days to 29 days | 2.50% | 3.00% |
30 days to 45 days | 2.75% | 3.25% |
46 days to 90 days | 3.00% | 3.50% |
91 days to 180 days | 3.75% | 4.25% |
181 days to 270 days | 4.00% | 4.50% |
271 days to less than 1 year | 4.40% | 4.90% |
1 year | 5.10% | 5.60% |
More than a year to less than 16 months | 5.00% | 5.50% |
16 months | 5.25% | 5.75% |
More than 16 months to less than 2 years | 5.00% | 5.50% |
2 years to less than 5 years | 5.35% | 5.85% |
5 years and over | 5.60% | 6.25% |
Source: Bank website. Wed 17/11/2021 |
Interest rate on term deposits of the Federal Bank NRE
On NRE term deposits of Rs. 2 crore and above, the Federal Bank provides the following interest rates which are in effect from 11/16/2021.
Period | Deposit from Rs.2 crore to Rs.5 crore | Deposit over Rs.5 crore to Rs.25 crore | Deposit over Rs.25 crore to Rs.50 crore | Deposit over Rs.50 crore |
---|---|---|---|---|
1 year | 4.25% | 4.25% | 4.25% | 4.25% |
More than 1 year to 20 months | 4.25% | 4.25% | 4.25% | 4.25% |
More than 20 months to 2 years | 4.75% | 4.75% | 4.75% | 4.75% |
More than 2 years to 3 years | 4.75% | 4.75% | 4.75% | 4.75% |
More than 3 years to 5 years | 4.75% | 4.75% | 4.75% | 4.75% |
Over 5 years | 4.75% | 4.75% | 4.75% | 4.75% |
Source: Bank website. Wed 16/11/2021 |
Federal bank deposit plus interest rate
The Federal Bank also offers a Deposit Account Plus to its resident Indian citizens, which requires a minimum deposit amount of Rs 15,000,001 and is only available as a cash certificate or fixed deposit. There is no early withdrawal option on these deposits, and the senior rate is only applicable on deposits of less than Rs 200 lakhs. The bank has also changed the interest rates on these deposits, which are in effect from November 17, 2021.
Period | General public | Old person |
---|---|---|
1 year | 5.15% | 5.65% |
More than a year to less than 16 months | 5.05% | 5.55% |
16 months | 5.35% | 5.85% |
More than 16 months to less than 2 years | 5.05% | 5.55% |
2 years to less than 5 years | 5.40% | 5.90% |
5 years | 5.65% | 6.30% |
Source: Bank website. Wed 17/11/2021 |