Federal Bank Revises Interest Rates On Fixed Deposits, Here Are Latest Rates

Published: Tuesday, September 27, 2022, 16:12 [IST]

Many leading public or private sector banks of India have been fluctuating their Interest rates in the past few weeks, and most banks are offering a handsome return on the Investments of Fixed Deposits.

Federal Bank, one of India's leading private banks, has recently revised the interest rates for Fixed Deposits of domestic deposits less than Rs. 2 crores. The private bank is now offering up to 7% returns on the Fixed Deposits, and revised interest rates will be effective from 27 September 2022.

Here is a list of revised interest rates on Fixed Deposit of Federal Bank.

Tenors	General Interest rates (in %)
7 Days to 29 Days	3
30 Days to 45 Days	3.25
46 days to 60 days	3.75
61 days to 90 days	4.00
91 Days to 119 Days	4.10
120 days to 180 days	4.25
181 Days to 332 days	4.80
333 days	5.60
334 days to less than 1 year	4.80
1 year	5.60
Above 1 year to less than 20 months	5.60
20 months	6.10
Above 20 months to 699 days	5.60
700 days	7
701 days to 749 days	5.75
750 days	6.50
751 days to less than 3 years	5.75
3 years to less than 5 years	6.00
5 years to 2221 days	6.00
2222 days	6.20
Above 2222 days	6.00

Penalty Charged On Premature Deposits

Period of Deposit	Single deposit less than Rs. 2 crore
Up to and including 90 days	0%
Above 90 days	9%

As per the official website of the federal bank, "Period for which the deposit is maintained with the Bank, irrespective of the contracted tenor. Deposits opened for a period of 2222 days will be treated as Green Deposits and these deposits will be exclusively used for funding Green loan portfolio."