Federal Bank Increases Interest Rates On FDs From Today, Check Out New Rates Here

Deposits maturing in 7 days to 2223 days or more will get Interest ranging from 3% to 6.3% for the general public and 3.5% to 6.95% for senior citizens.

Interest Rate on FD Hiked: Federal Bank, a leading private sector lender, has raised the interest rates on fixed deposits under ₹2 crore. The new rates are in effect from today, December 18, 2022. Following the revision, the bank is currently giving interest rates on deposits maturing in 7 days to 2223 days or more ranging from 3.00% to 6.30% for the general public and 3.50% to 6.95% for senior citizens. At Federal Bank, deposits with maturities between 18 months and 2 years will now earn a maximum interest rate of 7.75% for senior citizens and 7.25% for non-senior citizens.

SEE FEDERAL BANK INTEREST RATES ON FIXED DEPOSITS

• The bank is now offering an interest rate of 3.00% on deposits that mature in the next 7 to 29 days, while Federal Bank is currently offering an interest rate of 3.25% on deposits that mature 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 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%.
• On deposits maturing in 181 days to 270 days, the bank is now offering an interest rate of 5.75% and on those maturing in 271 days to less than 1 year, Federal Bank is now offering an interest rate of 6.00%.
• Federal Bank is now offering an interest rate of 6.60% on FDs maturing in 1 year to less than 18 months and an interest rate of 7.25% on those maturing in 18 months to 2 years.
• Deposits maturing from Above 2 years to less than 3 years will now fetch an interest rate of 6.75% and those maturing in 3 years to less than 5 years will now fetch an interest rate of 6.50%.
• On FDs maturing in 5 years to 2221 days, the bank is now offering an interest rate of 6.30% and on those maturing in 2222 days and 2223 days and above, Federal Bank is now offering an interest rate of 6.40% and 6.30%, respectively.

The interest rates on resident term deposits also apply to NRO fixed deposits, federal savings accounts, federal tax savings accounts, and resident cash certificates.