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Federal Bank Hikes Fixed Deposit Interest Rates On Less Than 2 Crore Deposits (w.e.f 16.05.2022)


Federal bank, one of India's leading private sector bank has hiked the interest rate on Fixed Deposits on less than Rs 2 crore single deposit across all the tenure. Since the Reserve Bank of India (RBI) hiked a 40-basis-point rise in the repo rate, Indian banks have been hiking interest rates. The new hiked interest rates by the bank will be applicable for the tenure of 7 days to 2223 days and will come into effect from May 16, 2022. Previously, the bank was offering 2.50%, and 3% interest rates to regular and senior citizens, respectively for the maturing tenure of 7 days to 29 days.

Federal Bank Hikes Fixed Deposit Interest Rates On Less Than 2 Crore Deposits

The new Interest Rates on fixed deposits offered by the bank are as follows:

Interest rates for Resident Fixed Deposits on deposit Rs 2 crore and less

PeriodGeneral Public (% p.a)Senior Citizen (% p.a)
7 days to 29 days2.65%3.15%
30 days to 45 days3.25%3.75%
46 days to 60 days3.65%4.15%
61 days to 90 days3.75%4.25%
91 days to 119 days4.00%4.50%
120 days to 180 days4.25%4.75%
181 days to 270 days4.50%5.00%
271 days to less than 1 year4.75%5.25%
1 year to 549 days5.40%5.90%
550 days5.50%6.00%
551 days to less than 2 years5.40%5.90%
2 years to less than 5 years5.75%6.25%
5 years to 2221 days5.75%6.40%
2222 Days5.95%6.60%
2223 days and above5.75%6.40%

Note- Senior Citizens will get Additional 0.5% interest rate on all tenure.

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