Federal Bank revises FD interest rates; now earn 8% on this fixed deposit tenure

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 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%