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Federal Fixed Deposit Interest Rates

FD Interest Rate in Federal Bank 2022

Last Updated 18th Jan 2022

When it comes to the FD interest rate, the highest rate offered on Federal Bank FD is 5.60%. Latest Federal Bank FD interest rate for senior citizens, on the other hand, ranges between 3.00% to 6.25%.You can earn up to ₹ 28,000 per lakh by investing some money in a fixed deposit account.

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
7 days to 29 days 2.50% 3.00%
30 days to 45 days 2.75% 3.25%
46 days to 90 days 3.00% 3.50%
91 days to 180 days 3.75% 4.25%
181 days to 270 days 4.00% 4.50%
Earn upto 7.05% on FD APPLY NOW

Federal Fixed Deposit Features

Federal Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Federal Bank Fixed Deposit are:

  • Deposit Amount : Federal Bank FD can be opened with an amount as a low to up to No Limit.
  • FD Tenure : Ranges between 7 days to 5 years.
  • Interest Rate Range : 2.50% p.a. to 5.60% p.a.
  • Senior Citizens FD Rate : 3.00% p.a to 6.25% p.a.
  • Highest Interest Rate : As per today’s rate, Federal Bank’s highest interest rate on FD is 5.60% offered for a tenure of 5 years.
  • Safety of Federal Bank Deposits : Federal Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Federal Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Standard Fixed Deposit

Federal Bank FD Interest Rates Today

Interest rates on Federal Bank deposits are updated regularly by the Government of India. The following are updated Federal Bank FD interest rates 2022:

Tenure Interest Rate
7 days to 29 days 2.50%
30 days to 45 days 2.75%
46 days to 90 days 3.00%
91 days to 180 days 3.75%
181 days to 270 days 4.00%
271 days to 364 days 4.40%
16 months 5.30%
16 months 1 day to 1 year 11 months 29 days 5.00%
1 year to 1 year 15 months 29 days 5.10%
2 years to 4 years 364 days 5.35%
5 years 5.60%

Federal Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Federal Bank offers a higher interest rate to senior citizens than the general public. Fixed deposit interest rates for senior citizens in Federal Bank 2022 are as follows:

Tenure Interest Rate for senior citizens
7 days to 29 days 3.00%
30 days to 45 days 3.25%
46 days to 90 days 3.50%
91 days to 180 days 4.25%
181 days to 270 days 4.50%
271 days to 364 days 4.90%
16 months 5.85%
16 months 1 day to 1 year 11 months 29 days 5.50%
1 year to 1 year 15 months 29 days 5.60%
2 years to 4 years 364 days 5.85%
5 years 6.25%

Federal Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Federal Bank FD account prematurely, however Federal Bank charges a penalty of 1% for deposits above Rs. 15 lakh for premature withdrawal. Also, The penal provisions for premature closure on Federal Bank FD are subject to change from time to time and may also vary with deposit schemes.

Nomination Facility on Federal Bank FD

Federal Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Federal Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

Earn upto ₹ 28,000 Per Lakh on Federal Bank Fixed Deposit?

To earn ₹ 28,000 per lakh on an online FD for 60 months:-

  • Investment Amount - ₹ 1,00,000
  • FD Interest Rate - 5.60%
  • Tenure - 60 months
  • Calculation formula - Simple interest
  • Interest Payout - ₹ 28,000
  • FD Maturity Amount - ₹ 1,28,000

Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.

FD Account Opening Process at Federal Bank

To open an Federal Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Federal Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Federal Bank FD after reading the terms and conditions.

Loan Against Fixed Deposit Federal Bank

Federal Bank offers loans up to 90% against its own deposit. Note that Federal Bank will not give you loan against FD of any other bank. Federal Bank offers Loan against FD at the rate of 3.5% to 6.6%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Federal Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws ₹ 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 90,000 available for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FAQs

What is the highest fixed deposit interest rate for Federal Bank?

You can earn a maximum interest of 5.60% on Federal Bank fixed deposit deposits for a tenure of 10 months.

Are there any special rates for senior citizens FD of Federal Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.50% to 5.60%. Compared to this, Federal Bank senior citizens FD are in the range of 3.00% to 6.25%.

What are the current Federal Bank FD interest rates 2022?

Current interest for FD in Federal Bank ranges between 2.50% - 5.60%. for different tenure.The highest rate is offered on a tenure 6.25 months/years. For senior citizens the interest rates ranges bweteen 3.00% - 6.25%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Federal Bank?

The minimum deposit amount required to book an FD with Federal Bank is and there is no limit for maximum amount.

Did Federal Bank increase FD rates in 2022?

Yes, the highest rate on Federal Bank FD has been increased from 5.50% to 5.60%. The fixed deposit rates of Federal Bank are now in the range of 2.50% to 5.60% with effect from 23 Nov, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Federal Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Federal Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Federal Bank?

Yes, you can submit your application for opening an FD account on the website of Federal Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Federal Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.60%. For Federal Bank FD the number of years in which your FD will get doubled is; 72/5.60 = 13

What is the interest of 1 lakh in the Federal Bank?

The interest on Federal Bank fixed deposit depends on the tenure of the FD for which it is deposited. The highest interest rate is 5.60% for tenure and banks offer senior citizens little more, which is 6.25%.


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Federal News - Jan 2022
  • 2021-11-23 : Federal Bank Revises FD Rates
    Federal Bank has revised FD rates for different tenures. After the change in FD rates, regular investors can earn upto 5.60 percent. The highest FD rate for senior citizens is 6.25 percent on less than Rs 2 crore deposits maturing in 5 years or more.
  • 2021-01-06 : Federal Bank’s gross advances rise 6% YoY in Q3
    Federal Bank reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fiscal. Further the bank reported an increase of 6% rise in gross advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans. CASA ratio stood at 34.48% at the end of December 31, 2020, from 33.38% as on September 30, 2020.
  • 2020-12-29 : Federal Bank revised its FD rates
    With effect from 29 December 2020, Federal Bank revised its FD rates. The revised rates for 7 to 29 days is 2.50%, the rates for 30 to 45 days is 2.75% and it stands at 3% for 46 to 90 days. The rate for 90 to 180 days is 3.75%, it is 4% for 180 to 270 days and stands at 4.40% for 271 to 364 days. In addition to this, the rate for long tenors of 16 months is 5.30%, it is 5.10% for 16 months 1 day to 1 year 11 months 29 days to 2 years to 4 years 364 days. The fixed deposits rate for 5 years is 5.50%.
  • 2020-07-16 : Federal Bank Q1 net profit up 4.3%
    Federal Bank net profit backed by retail loans like home, personal, gold, car and two-wheeler along with business and mudra loans rose by 4.3% to Rs 400.77 crore in Q1 June 2020 over Q1 June 2019. Further, The Bank total deposits which include fixed and recurring deposits reached Rs 1,54,937.74 crore in Q1 June 2020, registering a 16.9% growth from Q1 June 2019.
  • 2019-05-07 : Federal Bank Q4 net jumps 163% at Rs. 382 crores
    Private sector lender, Federal Bank has reported a 163% growth in net profit for the quarter ended March 31, boosted by strong growth across its retail loans segment including home loans and SME loans and fixed deposits. In addition, the lender’s Net interest income (NII) for the quarter increased by 16.57% to Rs. 4,176 crore. The housing loans registered a growth of 32.16%. While the SME loans grew by 12%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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