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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.
After the revision, the highest interest rate for general citizens is 7.55% which is offered on a tenure of 500 days. Check interest rate on other tenures.
Federal Bank has hiked the fixed deposit interest rate on certain tenures for both resident and non-resident accounts, effective January 17, 2024.
Federal Bank has introduced exceptional deposit interest rates. Special rates are available for 400 days, with the highest rate available being 8.15%.
The interest rate on a 13-month term deposit is 7.30% for the general citizens and 8.07% for senior citizens. The increased pricing would only be available for a short time.