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Federal FD Interest Rates 2021

Federal FD Interest Rates

Last Updated 25th Jun 2021

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%.

Tenure FD interest rates Senior Citizen FD interest rates
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 6.95% 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 2021:

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 5.50%
16 months 1 day to 1 year 11 months 29 days 5.10%
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. Listed below are the Federal Bank fixed deposits interest rates for senior citizens 2021:

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 6.00%
16 months 1 day to 1 year 11 months 29 days 5.60%
1 year to 1 year 15 months 29 days 5.60%
2 years to 4 years 364 days 5.85%
5 years 6.25%

Best FD Plan as per Federal Bank FD Rates

To invest in Federal Bank fixed deposit, you must compare Federal Bank Fixed Deposit Rates for varying tenures. Federal Bank FD Interest Rates 2021 are best for the deposits with a tenure of 5 years to 5 years, wherein the current Federal Bank Fixed Deposit Interest Rates is 5.60 p.a.

If you are looking to invest in short term deposits with Federal Bank, the interest rate of Federal Bank for FD ranges from 2.50% p.a. to 4.40% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Federal Bank Fixed Deposit Rates for senior citizens range from 3.00% to 4.90% p.a.

If you want to invest in long term deposits, Federal Bank Fixed Deposit Rates with tenure ranging from 5 years to 4 years 364 days are a good choice with interest rates on deposits at 5.35%.Federal Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of5.85% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in Federal Bank:

  • Interest on deposit is paid only at the time of the maturity
  • Federal Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Federal Bank Fixed Deposit Rate Trends

Federal Bank has hiked interest rates on fixed deposits with effect from 29 Jun, 2021. The new Federal Bank highest FD rate is currently at 5.60%, which is an increase of 0.1% from the previous highest rate of 5.50%. Currently, Federal Bank FD rate for upto 1 year is 2.50% and 5.60% for 5 year FD.

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.

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.

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.

To open a Fixed Deposit account in Federal Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Federal Bank FD after reading the terms and conditions.

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.

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.

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 2021?

Current interest for FD in Federal Bank ranges between 2.50% - 5.60%.

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 .

Did Federal Bank increase FD rates in 2021?

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 29 Jun, 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. Below mentioned is the Federal Bank FD interest rate 2021 across different tenures.

TenureInterest 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 5.50%
16 months 1 day to 1 year11 months 29 days 5.10%
1 year to 1 year15 months 29 days 5.10%
2 years to 4 years 364 days 5.35%
5 years 5.60%


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Federal News - Jul 2021
  • 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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