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
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.
Tenors
Rs 2 Cr to 5 Cr
Rs 5 Cr to 25 Cr
Rs 25 Cr to 50 Cr
Above Rs 50 Cr
91 days to 120 days
3.90%
3.90%
3.90%
3.90%
121 days to 180 days
4.00%
4.00%
4.00%
4.00%
181 days to 270 days
4.25%
4.25%
4.35%
4.25%
271 days to 360 days
4.25%
4.25%
4.25%
4.25%
361 days to less than 1 year
4.50%
4.50%
4.50%
4.50%
1 year
4.50%
4.50%
4.50%
4.50%
1 year 1 day to 370 days
4.65%
4.65%
4.65%
4.65%
371 days to 375 days
4.65%
4.65%
4.65%
4.65%
376 days to 380 days
4.65%
4.65%
4.65%
4.65%
381 days to 20 months
4.65%
5.25%
4.65%
4.65%
Above 20 months to 2 years
5.00%
5.00%
5.00%
5.00%
Above 2 years to 3 years
5.25%
5.25%
5.25%
5.25%
Above 3 years to 5 years
5.50%
5.50%
5.50%
5.50%
Source: Bank Website
Federal Bank interest rates for Resident Term Deposits (Withdrawable) of Rs.2 crore and above
Tenors
Rs 2 Cr to 5 Cr
Rs 5 Cr to 25 Cr
Rs 25 Cr to 50 Cr
Above Rs 50 Cr
7 days to 14 days
2.75%
2.75%
2.75%
2.75%
15 days to 29 days
2.75%
2.75%
2.75%
2.75%
30 days to 45 days
3.50%
3.50%
3.50%
3.50%
46 days to 60 days
3.50%
3.50%
3.50%
3.50%
61 days to 90 days
3.25%
3.25%
3.25%
3.25%
91 days to 120 days
3.50%
3.50%
3.50%
3.50%
121 days to 180 days
3.50%
3.50%
3.50%
3.50%
181 days to 270 days
4.00%
4.00%
4.00%
4.00%
271 days to 360 days
4.00%
4.00%
4.00%
4.00%
361 days to less than 1 year
4.25%
4.25%
4.25%
4.25%
1 year
4.25%
4.25%
4.25%
4.25%
1 year 1 day to 370 days
4.40%
4.40%
4.40%
4.40%
371 days to 375 days
4.40%
4.40%
4.40%
4.40%
376 days to 380 days
4.40%
4.40%
4.40%
4.40%
381 days to 20 months
4.40%
4.40%
4.40%
4.40%
Above 20 months to 2 years
4.75%
4.75%
4.75%
4.75%
Above 2 years to 3 years
4.75%
4.75%
4.75%
4.75%
Above 3 years to 5 years
4.75%
4.75%
4.75%
4.75%
Above 5 years
4.75%
4.75%
4.75%
4.75%
Source: Bank Website
Federal Bank interest rates for NRE Term Deposits of Rs.2 crore and above
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