Federal Bank revises FD interest rates; now earn 8% on this fixed deposit tenure Check interest rate on other tenures
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 Citizen7 days to 29 days3.00%3.50%30 days to 45 days3.25%3.75%46 days to 60 days4.00%4.50%61 days to 119 days4.75%5.25%120 days to 180 days5.00%5.50%181 days to 270 days5.75%6.25%271 days to less than 1 year6.00%6.50%1 year to less than 13 months6.80%7.30%13 months to 499 days7.30%7.80%500 days7.50%8.00%501 days to 21 months7.30%7.80%Above 21 months to less than 3 years7.05%7.55%3 years to less than 5 years7.00%7.50%5 years and above6.60%7.25%Source: Bank website .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:10px;font-weight:500;line-height:18px;} #sr_widget .sr_desc{margin:0 auto 0;} #sr_widget .sr_desc{color: #024d99;}Investors looking for twin engines of quality and growth.
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 InterestSingle deposit of less than ₹2CroresSingle deposit of ₹2Crores and aboveUp to and including 15 days0%1%Above 15 days1%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.PeriodSingle Deposit Less than Rs200 Lakhs1 year to less than 13 months6.80%13 months to 499 days7.30%500 days7.50%501 days to 21 months7.30%Above 21 months to less than 3 years7.05%3 years to less than 5 years7.00%5 years and above6.60%
This story originally appeared on: India Times - Author:Faqs of Insurances
