Bank Released New FD Rates 2024: If we talk about saving, the name of Fixed Deposit comes first. Investment in FD remains safe and gives guaranteed returns. If you also want to invest in FD then there is good news. Federal Bank has revised the interest rates on FD. The bank has changed the interest rates for both residents and non-residents. Federal Bank is offering interest from 3 percent to 7.55 percent.
Federal Bank FD Rates: Federal Bank has revised the interest rates on FD. The bank has changed the interest rates for both residents and non-residents. Federal Bank is offering interest ranging from 3 percent to 7.55 percent. The bank has increased the interest rate for 500 days and is giving 7.50 percent interest to common people and 8 percent interest to senior citizens. Federal Bank is giving FD to customers ranging from 7 days to 10 years. The new interest rates of the bank have come into effect from 6 February 2024.
Maximum interest is available on FD of 500 days
Federal Bank is giving 7.50 percent interest to common citizens on FD of 500 days. At the same time, the bank is offering 8 percent interest on FD to senior citizens. The bank is offering maximum interest on FD of 500 days. The bank is giving extra interest of 0.50 percent to senior citizens.
Interest rates on Federal Bank FD
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.
Interest Rates
Federal Bank is now offering interest rates of 6.80 percent on FDs maturing in a period of 1 year to less than 15 months and 7.30 percent on FDs maturing in a period of 15 months to 2 years. Now interest on FDs of more than two years and less than three years will be available at the rate of 7.05 percent. Interest on FDs with maturity period from three years to less than five years will now be available at the rate of 7 percent. The bank is offering interest rate of 6.60 percent on FD with tenure of 5 years and above.
