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Federal Bank Revises Interest Rate On These Deposits (W.e.f. 29/03/2022)

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Interest rates on Resident Term Deposits (Non-Withdrawable) of Rs.2 crore and above, Resident Term Deposits (Withdrawable) of Rs.2 crore and above, and NRE Term Deposits of Rs.2 crore and above have been revised by the private sector lender Federal Bank. The bank has made an interest rate change on these deposits today, effective March 29, 2022, and is guaranteeing the following interest rates to fixed deposit customers as a result of the adjustment.

 

Federal Bank interest rates for Resident Term Deposits (Non – Withdrawable) of Rs.2 crore and above

Federal Bank interest rates for Resident Term Deposits (Non – Withdrawable) of Rs.2 crore and above

Customers should be aware that for single deposits of Rs.2 crore and above, senior citizen benefits are not applicable. A Resident Term Deposit account can be opened by any resident individual, either individually or jointly, as well as clubs, associations, educational institutions, partnerships, joint-stock corporations, and other organisations, according to the bank. On deposits with no premature withdrawal option, the bank is promising the following interest rates to the customers.

TenorsRs 2 Cr to 5 CrRs 5 Cr to 25 CrRs 25 Cr to 50 CrAbove Rs 50 Cr
91 days to 120 days3.90%3.90%3.90%3.90%
121 days to 180 days4.00%4.00%4.00%4.00%
181 days to 270 days4.25%4.25%4.35%4.25%
271 days to 360 days4.25%4.25%4.25%4.25%
361 days to less than 1 year4.50%4.50%4.50%4.50%
1 year4.50%4.50%4.50%4.50%
1 year 1 day to 370 days4.65%4.65%4.65%4.65%
371 days to 375 days4.65%4.65%4.65%4.65%
376 days to 380 days4.65%4.65%4.65%4.65%
381 days to 20 months4.65%5.25%4.65%4.65%
Above 20 months to 2 years5.00%5.00%5.00%5.00%
Above 2 years to 3 years5.25%5.25%5.25%5.25%
Above 3 years to 5 years5.50%5.50%5.50%5.50%
Source: Bank Website    
Federal Bank interest rates for Resident Term Deposits (Withdrawable) of Rs.2 crore and above
 

Federal Bank interest rates for Resident Term Deposits (Withdrawable) of Rs.2 crore and above

TenorsRs 2 Cr to 5 CrRs 5 Cr to 25 CrRs 25 Cr to 50 CrAbove Rs 50 Cr
7 days to 14 days2.75%2.75%2.75%2.75%
15 days to 29 days2.75%2.75%2.75%2.75%
30 days to 45 days3.50%3.50%3.50%3.50%
46 days to 60 days3.50%3.50%3.50%3.50%
61 days to 90 days3.25%3.25%3.25%3.25%
91 days to 120 days3.50%3.50%3.50%3.50%
121 days to 180 days3.50%3.50%3.50%3.50%
181 days to 270 days4.00%4.00%4.00%4.00%
271 days to 360 days4.00%4.00%4.00%4.00%
361 days to less than 1 year4.25%4.25%4.25%4.25%
1 year4.25%4.25%4.25%4.25%
1 year 1 day to 370 days4.40%4.40%4.40%4.40%
371 days to 375 days4.40%4.40%4.40%4.40%
376 days to 380 days4.40%4.40%4.40%4.40%
381 days to 20 months4.40%4.40%4.40%4.40%
Above 20 months to 2 years4.75%4.75%4.75%4.75%
Above 2 years to 3 years4.75%4.75%4.75%4.75%
Above 3 years to 5 years4.75%4.75%4.75%4.75%
Above 5 years4.75%4.75%4.75%4.75%
Source: Bank Website    
Federal Bank interest rates for NRE Term Deposits of Rs.2 crore and above

Federal Bank interest rates for NRE Term Deposits of Rs.2 crore and above

TenorsRs 2 Cr to 5 CrRs 5 Cr to 25 CrRs 25 Cr to 50 CrAbove Rs 50 Cr
1 year4.25%4.25%4.25%4.25%
Above 1 year to 20 months4.40%4.40%4.40%4.40%
Above 20 months to 2 years4.75%4.75%4.75%4.75%
Above 2 years to 3 years4.75%4.75%4.75%4.75%
Above 3 years to 5 years4.75%4.75%4.75%4.75%
Above 5 years4.75%4.75%4.75%4.75%
Source: Bank Website    

Story first published: Tuesday, March 29, 2022, 10:55 [IST]
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