Bank FD Rates: This bank has revised the interest rates on FD. The new interest rates of the bank have come into effect from January 17, 2024. The bank has revised the interest rates for both residents and non-residents. The bank has increased the interest rate for 500 days and is giving 7.75 percent interest to common people and 8.25 percent interest to senior citizens.’
Maximum interest is 8.40 percent
Private sector bank Federal Bank said that it has increased the interest rate on 500 days FD to 7.90 percent. Now on this FD of 500 days, Federal Bank is now giving maximum return of 8.40 percent for the period of 500 days. These interest rates are on FD which you cannot withdraw before time. That is, the maximum interest on that FD from which you cannot withdraw money before time is 8.40 percent.
Interest rates on regular FD of Federal Bank
Federal Bank is offering 3 percent interest rate on FDs maturing in 7 to 29 days and 3.25 percent interest rate on FDs maturing in 30 to 45 days. According to the bank’s website, interest will be available at the rate of 4.00 percent on FDs maturing in 46 days to 60 days and 4.75% interest on FDs maturing in 61 days to 119 days. Those maturing in the next 120 to 180 days will now get interest at the rate of 5%. The bank is offering 5.75 percent interest rate on FDs maturing in the next 181 days to 270 days and 6 percent interest rate on FDs maturing in the next 271 days to less than one year.
These are the interest rates on regular FD
Federal Bank is now offering 6.80 percent interest rate on FDs maturing in a period of 1 year to less than 15 months and 7.25 percent interest rate on FDs maturing in a period of 15 months to 2 years. Interest on FDs of more than two years and less than three years will now be available at the rate of 6.75 percent. Interest on FDs with maturity period from three years to less than five years will now be available at the rate of 6.60 percent. The bank is offering interest rate of 6.60 percent on FD with tenure of 5 years and above. The bank is giving extra interest of 0.50 percent to senior citizens.
