Federal Bank hikes fixed deposit interest rates for both residents and non-residents; check latest rates here
Effective December 05, 2023, Federal Bank has updated its deposit interest rates. The new rate for 500-day deposits stands at 7.50 per cent for both resident and non-resident deposits.
Non-withdrawable fixed deposits for the same duration now carry an interest rate of 7.65 per cent. Senior citizens can avail themselves of a maximum return of 8.15 per cent for 500-day tenures and 7.80 per cent for tenures ranging from 21 months to less than three years.
The new fixed deposit interest rates are tabled below
Withdrawable before maturity (Less than 2 Cr)
General Public
Senior Citizen
General Public
Senior Citizen
500 Days
7.50%
8.00%
7.65%
8.15%
Above 21 Months to less than 3 years
7.05%
7.55%
7.30%
7.80%
Interest rates for Foreign Currency Non-Resident (FCNR) and Resident Foreign Currency (RFC) have been increased, with additional revisions outlined below.
Less than ₹10 lakh
₹10 lakh & above
1 year 1 day
6.10%
6.15%
1 year
5.60%
5.60%
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