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Federal Bank Revises Interest Rates On Fixed Deposits (W.e.f. 17-01-2022)

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The private sector lender, Federal Bank has revised its interest rates on domestic term deposits of less than Rs. 2 Cr. The new rates are effective as of 17th January 2021 is what the bank has mentioned on its website. Following the latest revision, the bank is now offering an interest rate of 2.50% to 5.60% to the general public and 3.00% to 6.25% to senior citizens on their deposits of less than Rs. 2 Cr maturing in 7 days to 5 years and above.

 
Federal Bank Revises Interest Rates On Fixed Deposits (W.e.f. 17-01-2022)

Federal Bank Fixed Deposit Interest Rates For Regular Customers

The bank is currently giving an interest rate of 2.50 percent and 3.00 percent to the general public on deposits of less than Rs. 2 Cr maturing in 7 days to 29 days and 30 days to 45 days, respectively, as of January 17, 2022. Regular citizens will now get 3.25 percent and 3.75 percent interest on deposits maturing in 46 to 90 days and 91 to 180 days, respectively. Federal Bank is currently giving a 4.25 percent and 4.40 percent interest rate on deposits maturing in 181 days to 270 days and 271 days to less than a year to the general public. Regular customers will now get interest rates of 5.10 percent and 5.00 percent on resident term deposits maturing in one year and less than 16 months. Deposits maturing in 16 months or less than 2 years will now generate interest rates of 5.25 percent and 5.00 percent, respectively. On domestic term deposits maturing in 2 years to less than 3 years, 3 years to less than 5 years, and 5 years and above, non-senior citizens will now get interest rates of 5.35 percent, 5.40 percent, and 5.60 percent, respectively.

TenorGeneral Public
7 days to 29 days2.50%
30 days to 45 days3.00%
46 days to 90 days3.25%
91 days to 180 days3.75%
181 days to 270 days4.25%
271 days to less than 1 year4.40%
1 year5.10%
Above 1 year to less than 16 Months5.00%
16 Months5.25%
Above 16 months to less than 2 years5.00%
2 years to less than 3 years5.35%
3 years to less than 5 years5.40%
5 years and above5.60%
Source: Bank Website. W.e.f. 17.01.2022

Federal Bank Fixed Deposit Interest Rates For Senior Citizens

On deposits of less than Rs. 2 Cr, senior citizens will continue to get an additional rate of 0.50% across all tenors. Effective as of 17th January 2021, senior citizens will get the following interest rates on their deposits maturing in 7 days to 5 years and above.

 
TenorSenior Citizens
7 days to 29 days3.00%
30 days to 45 days3.50%
46 days to 90 days3.75%
91 days to 180 days4.25%
181 days to 270 days4.75%
271 days to less than 1 year4.90%
1 year5.60%
Above 1 year to less than 16 Months5.50%
16 Months5.75%
Above 16 months to less than 2 years5.50%
2 years to less than 3 years5.85%
3 years to less than 5 years5.90%
5 years and above6.25%
Source: Bank Website. W.e.f. 17.01.2022

Story first published: Thursday, January 20, 2022, 8:47 [IST]
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