FD rates revised: Up to 7.9% interest for senior citizens on fixed deposits; check full list here

Federal Bank has revised interest rates on fixed deposits (FD) and savings account interests. The new rates have been effective from December 16, 2024, according to the bank website. Note that the FD interest rate mentioned below is for amounts less than Rs 3 crore.

Latest Federal Bank FD interest rate for general citizens

Federal Bank offers interest rates between 3% and 7.4% on fixed deposits for general citizens for tenures ranging from seven days to five years and above. The highest interest rate of 7.4% is offered on FDs of two tenures: 777 days and 50 months.

Federal Bank FD interest rate for general citizens

Period	Single deposit less than Rs 3 crore: general public
7 days to 29 days	3.00%
30 days to 45 days	3.50%
46 days to 180 days	5.50%
181 days	6.50%
182 days to 270 days	6.25%
271 days to less than 1 year	6.50%
1 year	7.00%
Above 1 year to 399 days	7.25%
400 days	7.35%
401 days to less than 2 years	7.25%
2 years to 776 days	7.15%
777 days	7.40%
778 days to less than 3 years	7.15%
3 years to less than 50 months	7.10%
50 Months	7.40%
Above 50 months to less than 5 years	7.10%
5 Years	7.10%
Above 5 years	6.60%

Source: Federal Bank website

Latest Federal Bank FD interest rate for senior citizens

The bank offers fixed deposit interest rates between 3.5% and 7.9% for senior citizens (aged 60 and above) for FD tenures ranging from 7 days to five years and above. Senior citizens get the highest interest rate of 7.9% on FDs with these two tenures: 777 days and 50 months.


Federal Bank FD interest rate for senior citizens

Period	Single deposit less than Rs 3 crore: senior citizen
7 days to 29 days	3.50%
30 days to 45 days	4.00%
46 days to 180 days	6.00%
181 days	7.00%
182 days to 270 days	6.75%
271 days to less than 1 year	7.00%
1 year	7.50%
Above 1 year to 399 days	7.75%
400 days	7.85%
401 days to less than 2 years	7.75%
2 years to 776 days	7.65%
777 days	7.90%
778 days to less than 3 years	7.65%
3 years to less than 50 months	7.60%
50 Months	7.90%
Above 50 months to less than 5 years	7.60%
5 Years	7.75%
Above 5 years	7.25%

Source: Bank Website

Penalty on premature withdrawal

The bank will not charge any penalty if the withdrawal is made within 15 days for deposits less than Rs 3 crore and 1% penalty for deposits of Rs 3 crore or more. For deposits held above 15 days, the bank levies a penalty of 1% of interest earned on deposit.

Federal Bank latest savings account interest rate

End of the day balance	Rates of interest (p.a)
Up to and including Rs 1 lakh	3.00% - uniform rate
Above Rs 1 lakh to less than Rs 40 crore	3.00% for balance less than Rs 50 lakh
	3.75% for balance of Rs 50 lakh to less than Rs 2 crore
	4.00% for balance of Rs 2 crore to less than Rs 5 crore
	5.50% for balance of Rs 5 crore to less than Rs 40 crore
Rs 40 crore to less than Rs 150 crore	3.00% for balance up to Rs 1 lakh
	7.00% for balance above Rs 1 lakh to less than Rs 150 crore
Rs 150 crore to less than Rs 300 crore	3.00% for balance up to Rs 1 lakh
	5.75% for balance above Rs 1 lakh to less than Rs 300 crore
Rs 300 crore and above	3.00% for balance up to Rs 1 lakh
	3.50% for balance above Rs 1 lakh

Source: Federal Bank website