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Federal Bank FD Interest Rate and Calculator
Check the latest Federal Bank Fixed Deposit (FD) interest rates for different tenures and deposit amounts, for both general and senior citizen depositors. As a private sector bank, Federal Bank offers fixed deposits across a range of tenures, from short-term deposits of a few weeks to long-term deposits of several years, allowing you to choose a tenure that matches your savings goals. This page brings together the current Federal Bank FD interest rates, along with details on how to open an FD with the bank, how premature withdrawal and loans against FD work, and how tax applies to the interest you earn, so you have everything you need to decide whether a Federal Bank fixed deposit is right for you before you invest.
Federal Bank Fixed Deposit Interest Rates
Federal Bank fixed deposit is a great way to save money for a period of time, if you are looking at getting your invested money safely along with good returns on your investment, then fixed deposit is the way to go. Checking the Federal Bank fixed deposit interest rate and making the decisions is now very easy.
Less than Rs. 3 cr
| Tenure | Deposit Amount | General | Senior Citizen |
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Federal Bank Fixed Deposit Calculator
Federal Bank FD online calculator will help you calculate the interest that your money will earn when kept in a fixed deposit in Federal Bank. This will give the details of investment that's the principal amount on maturity after the interest is compounded on days or a monthly, quarterly, half-yearly and yearly basis. To learn about how your fixed deposit earns interest and how much will be your earning at the end of the tenure chosen, Goodreturns online calculators will help you.
About Federal Bank Fixed Deposits
Federal Bank is a private sector bank that offers fixed deposit schemes to individual depositors, non-individual entities and, in most cases, non-resident Indians, across a range of tenures designed to suit different savings horizons. As with fixed deposits at any bank, the interest rate you are offered depends on the tenure you choose and the amount you deposit, with Federal Bank typically offering a slightly higher interest rate to senior citizen depositors compared with the general rate. Many banks, Federal Bank included, periodically revise their FD interest rates in response to changes in the broader interest rate environment and their own funding requirements, so it is worth checking the latest rates before booking a deposit rather than relying on rates you may have seen previously.
Federal Bank FD Interest Rates
The comparison table on this page lists the latest Federal Bank FD interest rates across different tenure buckets, ranging from very short-term deposits of a few days or weeks to long-term deposits of five years or more, along with the deposit amount slab each rate applies to. Federal Bank, like most banks, offers a preferential interest rate to senior citizens that is typically higher than the general rate for the same tenure, so it is worth checking the senior citizen column separately if you or the depositor qualify. Since Federal Bank's FD rates can change from time to time based on the bank's own funding needs and broader interest rate conditions, it's a good idea to check the current rate for your specific tenure and deposit amount at the time you are ready to invest, rather than assuming rates will remain unchanged.
How to Open a Fixed Deposit with Federal Bank
If you already hold a savings or current account with Federal Bank, you can typically open a fixed deposit instantly through the bank's net banking portal or mobile banking app by selecting the FD or term deposit option, choosing your desired tenure and deposit amount, and confirming the transfer of funds from your linked account.
If you do not yet have an account with Federal Bank, most banks allow new customers to open an FD by visiting a branch with basic KYC documents such as a PAN card, Aadhaar and a passport-sized photograph, and in many cases Federal Bank also allows eligible new customers to open an FD online after completing a video KYC or similar digital verification process, without needing to visit a branch in person.
Premature Withdrawal and Loan Against Federal Bank FD
Most Federal Bank fixed deposits allow premature withdrawal before the completion of the chosen tenure, though this typically comes with a penalty in the form of a reduced interest rate compared with the rate that would have applied to the original tenure, and the exact penalty structure can vary depending on how much of the tenure has been completed. As an alternative to breaking the deposit early, Federal Bank also typically allows depositors to take a loan or overdraft against their fixed deposit, usually up to a specified percentage of the deposit amount, which lets you access funds for a short-term need while keeping your original FD intact and continuing to earn interest on it.
Tax on Federal Bank Fixed Deposit Interest
Interest earned on a Federal Bank fixed deposit is fully taxable as per your applicable income tax slab, and like other banks, Federal Bank is required to deduct Tax Deducted at Source (TDS) once the total interest earned across your FDs with the bank in a financial year crosses the threshold specified under the Income Tax Act, with a higher threshold generally applicable for senior citizens. If your total income is below the taxable limit or you otherwise do not expect to owe tax on your FD interest, you can submit Form 15G, or Form 15H if you are a senior citizen, to Federal Bank to request that TDS not be deducted, provided you meet the eligibility criteria for these forms, and any excess TDS already deducted can be claimed back when filing your income tax return.
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