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.
Latest Federal Bank FD interest rates
| Period | Less than Rs 200 Lakhs – General Public | Less than Rs 200 Lakhs – Senior Citizen |
| 7 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.25% | 3.75% |
| 46 days to 60 days | 4.00% | 4.50% |
| 61 days to 119 days | 4.75% | 5.25% |
| 120 days to 180 days | 5.00% | 5.50% |
| 181 days to 270 days | 5.75% | 6.25% |
| 271 days to less than 1 year | 6.00% | 6.50% |
| 1 year to less than 13 months | 6.80% | 7.30% |
| 13 months to 499 days | 7.30% | 7.80% |
| 500 days | 7.50% | 8.00% |
| 501 days to 21 months | 7.30% | 7.80% |
| Above 21 months to less than 3 years | 7.05% | 7.55% |
| 3 years to less than 5 years | 7.00% | 7.50% |
| 5 years and above | 6.60% | 7.25% |
Source: Bank website
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 Interest | |
| Single deposit of less than ₹2Crores | Single deposit of ₹2Crores and above | |
| Up to and including 15 days | 0% | 1% |
| Above 15 days | 1% | 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.
| Period | Single Deposit Less than Rs200 Lakhs |
| 1 year to less than 13 months | 6.80% |
| 13 months to 499 days | 7.30% |
| 500 days | 7.50% |
| 501 days to 21 months | 7.30% |
| Above 21 months to less than 3 years | 7.05% |
| 3 years to less than 5 years | 7.00% |
| 5 years and above | 6.60% |
