Federal Bank has revised fixed deposit interest rates for both resident and non-resident accounts, effective April 18, 2024. The bank offers FD interest rates between 3% to 7.40% for general citizens for tenures between 7 days to 10 years. After the revision, the highest interest rate for general citizens is 7.40% which is offered on a tenure of 400 days.
This bank offers up to 7.25% saving account interest rates, 8.5% FD rates; check details
For senior citizens, the bank offers an interest rate between 3.50% to 7.90% for tenure between 7 days to 10 years. After the revision, the highest interest rate for senior citizens is 7.90% which is offered on a tenure of 400 days.
Latest Federal Bank FD interest rates
| Period | Single Deposit Less than ₹200 Lakhs – General Public | Single Deposit Less than ₹200 Lakhs – Senior Citizen |
| 7 days to 29 days | 3.00% | 3.50% |
| 30 days to 45 days | 3.25% | 3.75% |
| 46 days to 60 days | 4.00% | 4.50% |
| 61 days to 119 days | 4.75% | 5.25% |
| 120 days to 180 days | 5.00% | 5.50% |
| 181 days to 270 days | 5.75% | 6.25% |
| 271 days to less than 1 year | 6.00% | 6.50% |
| 1 year to less than 13 months | 6.80% | 7.30% |
| 13 months to 399 days | 7.20% | 7.70% |
| 400 days | 7.40% | 7.90% |
| 401 days to 21 months | 7.20% | 7.70% |
| Above 21 months to less than 3 years | 7.05% | 7.55% |
| 3 years to less than 5 years | 7.00% | 7.50% |
| 5 years and above | 6.60% | 7.25% |
NRE FD rates
| Period | Single Deposit Less than ₹200 Lakhs |
| 1 year to less than 13 months | 6.80% |
| 13 months to 399 days | 7.20% |
| 400 days | 7.40% |
| 401 days to 21 months | 7.20% |
| Above 21 months to less than 3 years | 7.05% |
| 3 years to less than 5 years | 7.00% |
| 5 years and above | 6.60% |
Savings account interest rates
| Slab | End of the Day Balance | Rates of interest (p.a) |
| 1 | Upto ₹1L | 3.00% |
| 2 | Less than ₹200Cr | 3.00% for balance less than ₹5L |
| 3.10% for balance of ₹5L to less than ₹50L | ||
| 3.75% for balance of ₹50L to less than ₹2Cr | ||
| 4.00% for balance of ₹2Cr to less than ₹5Cr | ||
| 5.50% for balance of ₹5Cr to less than ₹50Cr | ||
| 6.00% for balance of ₹50 Cr and above | ||
| 3 | ₹200 Crores and above | 3.00% for balance up to and including ₹1L |
| 7.15% for the remaining balance above ₹1L |
According to the Federal Bank website, “The rates as mentioned above will be calculated on the daily End of the Day balances maintained in Savings Bank accounts (Resident/NRE/ONR) and the same will be credited to respective accounts on a quarterly basis.”
