Federal Bank FD Interest Rates

Federal Bank offers its customers a regular fixed deposit program through which they may invest a lump sum amount of their choice for a defined period of time and receive interest. The following are some of the scheme's major features:

Details of the scheme

• Minimum tenure: 7 days – 10 years.
• The amount of the deposit is Rs. 1000.
• Interest is compounded quarterly and paid monthly, quarterly, or yearly.
• Senior Citizen Rates: 0.50% additional interest.
• Withdrawal Too Soon: Available.
• Loan against FD: Up to 90% of the deposit amount is available.
• There is a nomination facility provided.
• There is an option for automatic renewal.
• Individuals have the ability to open (singly or jointly, HUFs, firms, clubs, etc.)

The Tax Saving Deposit plan by Federal Bank is an excellent choice for individuals wanting to save tax since it allows investors to claim a deduction under Section 80C of the Income Tax Act of 1961. There is a 5-year lock-in term during which the money cannot be withdrawn.

Details of the scheme

• 5 years tenure (Lock-in period).
• Amount of Deposit: Rs. 100 – Rs. 1.5 lakh.
• Interest is compounded quarterly and paid at maturity.
• Senior Citizen Rates: 0.50% additional interest
• Premature Withdrawal: This option is not available.
• Loan against FD: This option is not available.
• The Branch-to-Branch fund transfer option is available.
• PAN must be quoted.
• Investors can seek tax deductions that can be subtracted from their gross total income, lowering their taxable income.

Federal Bank's Cash Certificate scheme is a goal-oriented deposit strategy that focuses on giving high interest to their clients. It is an excellent investment choice for individuals who want to double their deposit amount in a short period of time while avoiding substantial dangers. The following are the scheme's features and benefits:

Details of the scheme

• Tenure: 6 months – 10 years.
• The Min. Deposit Amount is Rs. 1000.
• The federal bank fixed deposit interest rate is compounded quarterly; paid at maturity.
• The rate for Senior Citizens is an additional 0.50% rate of interest.
• A Loan is available for up to 90% of the deposit amount.
• There is a nomination facility provided.
• There is an option for auto-renewal.
• When the deposit matures, the full sum (principal + interest earned) is immediately moved to a Federal Bank savings account.

The Period that begins from 7 days to 1 year or less than a year are known as short term fixed deposits, and their interest rates start from 2.5% to 4.4% depending on the number of days of the deposit for general customers, and from 3% to 4.9% for senior citizens.

A Medium-term fixed deposit, that is, from 1 year to 5 years, withhold interest rates are 5.1% to 5.35% for general customers and is 5.6% to 5.85% for senior citizens according to the period of lock-in.

A Long-term FD goes from 5 years and more, and the interest rate is 5.6% for general customers and 6.25% for senior citizens.