|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 29 days||3%||3.5%|
|30 days - 1 month 14 days||3.25%||3.75%|
|1 month 15 days - 2 months 1 day||4%||4.5%|
|2 months 2 days - 3 months||4.25%||4.75%|
|3 months 1 day - 3 months 29 days||4.5%||5%|
|4 months - 5 months 29 days||4.75%||5.25%|
|6 months - 8 months 27 days||5.75%||6.25%|
|8 months 28 days - 11 months 30 days||6%||6.5%|
|1 year - 1 year 6 months||6.6%||7.1%|
|1 year 6 months 1 day - 1 year 11 months 30 days||7.25%||7.75%|
|2 years - 2 years 11 months 29 days||6.75%||7.25%|
|2 years 11 months 30 days - 4 years 11 months 29 days||6.5%||7%|
|4 years 11 months 30 days - 6 years 29 days||6.3%||6.95%|
|6 years 30 days - 6 years 30 days||6.4%||7.05%|
|6 years 1 month - 9 years 11 months 28 days||6.3%||6.95%|
Note: All interest rates shown below are as on 9th Jan 2023
Federal Bank Limited is a major Indian commercial bank in the private sector having 1200+ branches and 1900+ ATMs/Recyclers spread across different states in India. The bank has a balance sheet size of Rs. 1.83 Lakh Crs as on 31st March 2020. The bank recorded a profit of Rs.1,553 Crs in FY20
3% - 7.25%
3.5% - 7.75%
FD Rate for Seniors
₹ 2 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 6.5%||For 5 years with interest of 6.3%|
|₹ 50,000||₹ 60,734||₹ 68,457|
|₹ 1 lakh||₹ 121,467||₹ 136,913|
|₹ 2 lakh||₹ 242,934||₹ 273,826|
|₹ 5 lakh||₹ 607,336||₹ 684,565|
|₹ 10 lakh||₹ 1,214,672||₹ 1,369,131|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 106,803||₹ 108,139|
|Total Investment Amount||₹ 100,000||₹ 100,000|
|Total Interest Gained||₹6,803||₹ 8,139|
|Bank Name||FD Interest Rates|
|Jana Small Finance Bank FD||7.85% - 8.8%|
|CSB Bank FD||5.75% - 6.25%|
|Axis Bank FD||7% - 7.75%|
|Deutsche Bank FD||7% - 7%|
|Ujjivan Small Finance Bank FD||7.2% - 7.95%|
|Indian Bank FD||6.25% - 6.75%|
|Chaitanya Godavari Grameena Bank FD||6.25% - 6.75%|
|Ellaquai Dehati Bank FD||5.3% - 5.55%|
|Paschim Banga Gramin Bank FD||5.2% - 5.7%|
|Rajasthan Marudhara Gramin Bank FD||5.7% - 6.2%|
Federal Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on Federal Bank FDs is higher than their savings account. One can invest in Federal Bank FDs with just a minimum investment of INR 1,000.
Following are the types of FD schemes that Federal Bank offers:
The Federal Bank Fixed Deposit is a good investment option for those who wish to invest and get periodical income (interest). Following are the features of the scheme.
Cash certificate is a growth-oriented scheme. Also, the scheme is suitable for individuals looking to double their money in the shortest time at zero risks. Moreover, under this scheme, the interest is quarterly compounded and reinvested. Furthermore, the interest cannot be withdrawn until maturity. Following are the features of the scheme.
The Federal Tax Saving Deposit is a convenient and risk-free option that provides tax benefits to depositors. The deposits up to INR 1,50,000 per annum qualify for tax deduction under Section 80C of the Income Tax Act. Following are the features of the scheme.
The scheme allows systematic investments over a period of time and helps the depositors become millionaires on maturity. Also, this is a unique recurring deposit scheme. Furthermore, the scheme’s monthly deposit amount and the tenure vary based on the type of investment option. The millionaire deposit scheme has the following types of investment options: Millionaire Federal Savings Fund, Multi-Millionaire Federal Savings Fund and Crorepati Federal Savings Fund. Following are the features of the scheme:
One can open a Federal Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a Federal Bank FD account through internet banking:
The following steps will guide in opening an FD account through Federal Bank Mobile App:
To open a Federal Bank FD account offline, one has to visit the nearest Federal Bank branch. Fill the Federal Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, Federal Bank will provide an FD receipt.
To open a fixed deposit account with Federal Bank, one needs the following documents:
To open an FD account with Federal Bank, one has to be eligible. Following are the individuals that are eligible to invest in Federal Bank FDs.
Only investment in Federal Bank Tax Saving FDs qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other Federal Bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from Federal Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from Federal Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to Federal Bank, then the TDS rate will be 20%.
The highest FD rate in Federal Bank is 5.35% for regular citizens for a tenure of 5 years and above. For senior citizens, the highest Federal Bank is 6% for a tenure of 5 years and above.
Federal Bank FD rates range between 2.5% and 5.35% for regular citizens and between 3% and 6% for senior citizens. Moreover, the Federal Bank offers an additional 0.5% interest to senior citizens on their FDs. Interest is compounded quarterly but paid out as per the choice of investors. Investors can choose between monthly, quarterly, annually, or at the time of maturity.
The minimum investment in Federal Bank FD is INR 1,000. However, there is no limit on the maximum amount of investment in Federal Bank FD except for the tax-saving FD, which is INR 1.5 lakhs.
Federal Bank FDs guarantee return in the form of interest. The interest is paid regularly or at maturity as per the choice of the investor. Moreover, all Federal Bank deposits are covered by the Deposit Insurance Scheme of RBI. The scheme covers all Federal Bank deposits up to INR 5,00,000. Hence Federal Bank FDs are safe for investment.
Yes, a customer can open an FD account online through the internet banking facility of Federal Bank.
To know in how many years Federal Bank FD will double, we can follow the 72 rule. Divide 72 by the interest rate, and the result will be the number of years the Federal Bank FD will double. For example, for a tenure of 10 years, the Federal Bank FD interest rate is 6% for senior citizens. An investor can double the investment amount by investing for this tenure in 12 years (72/6)
If an investor doesn’t disclose PAN details to Federal Bank, then the bank will TDS at 20% instead of 10%. Also, Federal Bank will not issue a TDS certificate. Moreover, there won’t be a credit of TDS in income tax returns. Furthermore, all exemption certificates will be invalid.
Federal Bank offers recurring deposits to its depositors. Federal Bank RDs have a minimum tenure of 180 days and maximum tenure of 10 years. The minimum investment in Federal Bank RD is INR 50, and there is no limit on the maximum investment. The interest rate for regular citizens is 4%-5.85% and for senior citizens is 4.5%-6.35%. One can invest in Federal Bank RD through either internet banking or mobile banking or by physically visiting a Federal Bank branch.