Earn up to 7.9% FD interest rate: Federal Bank revises fixed deposit interest rates After the revision, the highest interest rate for senior citizens is 7.90% which is offered on a tenure of 400 days
Federal Bank has revised fixed deposit interest rates for both resident and non-resident accounts, effective April 18, 2024. The bank offers FD interest rates between 3% to 7.40% for general citizens for tenures between 7 days to 10 years. After the revision, the highest interest rate for general citizens is 7.40% which is offered on a tenure of 400 days.This bank offers up to 7.25% saving account interest rates, 8.5% FD rates; check details
For senior citizens, the bank offers an interest rate between 3.50% to 7.90% for tenure between 7 days to 10 years. After the revision, the highest interest rate for senior citizens is 7.90% which is offered on a tenure of 400 days.
Latest Federal Bank FD interest rates
PeriodSingle Deposit Less than ₹200 Lakhs - General PublicSingle Deposit Less than ₹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 399 days7.20%7.70%400 days7.40%7.90%401 days to 21 months7.20%7.70%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%NRE FD rates
PeriodSingle Deposit Less than ₹200 Lakhs1 year to less than 13 months6.80%13 months to 399 days7.20%400 days7.40%401 days to 21 months7.20%Above 21 months to less than 3 years7.05%3 years to less than 5 years7.00%5 years and above6.60%
Savings account interest rates
SlabEnd of the Day BalanceRates of interest (p.a)1Upto ₹1L3.00%2Less than ₹200Cr3.00% for balance less than ₹5L3.10% for balance of ₹5L to less than ₹50L3.75% for balance of ₹50L to less than ₹2Cr4.00% for balance of ₹2Cr to less than ₹5Cr5.50% for balance of ₹5Cr to less than ₹50Cr6.00% for balance of ₹50 Cr and above3₹200 Crores and above3.00% for balance up to and including ₹1L7.15% for the remaining balance above ₹1L
According to the Federal Bank website, “The rates as mentioned above will be calculated on the daily End of the Day balances maintained in Savings Bank accounts (Resident/NRE/ONR) and the same will be credited to respective accounts on a quarterly basis.”
This story originally appeared on: India Times - Author:Faqs of Insurances
