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- Fixed Deposit
- Federal Bank
- Federal Bank Fixed Deposit Interest Rates
Private
A1+
DICGC
7%
Interest for 3 years
Federal Bank FD Interest Rates 2024
| Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
|---|---|---|
| 7 days - 29 days | 3% | 3.5% |
| 1 month - 1 month 15 days | 3.25% | 3.75% |
| 1 month 16 days - 1 month 30 days | 4% | 4.5% |
| 2 months - 3 months 28 days | 4.75% | 5.25% |
| 3 months 29 days - 5 months 27 days | 5% | 5.5% |
| 5 months 28 days - 8 months 26 days | 5.75% | 6.25% |
| 8 months 27 days - 11 months 30 days | 6% | 6.5% |
| 1 year - 1 year 29 days | 6.8% | 7.3% |
| 1 year 1 month - 1 year 4 months 12 days | 7.3% | 7.8% |
| 1 year 4 months 13 days - 1 year 4 months 13 days | 7.5% | 8% |
| 1 year 4 months 14 days - 1 year 8 months 29 days | 7.3% | 7.8% |
| 1 year 8 months 30 days - 2 years 11 months 30 days | 7.05% | 7.55% |
| 3 years - 4 years 11 months 29 days | 7% | 7.5% |
| 4 years 11 months 30 days - 9 years 11 months 29 days | 6.6% | 7.25% |
Note: All interest rates shown above are as on 4th Apr 2024
About Federal Bank FD
Federal Bank was incorporated in 1931 as Travancore Federal Bank. Later in 1949, it was renamed as Federal Bank. The bank has a strong NRI customer base in the middle east. The bank has its headquarters in Kochi, Kerela. As of March 2022, Federal Bank has 1,282 branch offices across India and 1,885 ATMs. The total deposits as of March 2022 stood at INR 181,701 crores. Federal Bank’s Fixed Deposits have an A1+ Credit Rating.
3% - 7.5%
FD Rate
3.5% - 8%
FD Rate for Seniors
₹ 1000
Minimum Deposit
₹ 2 Crores
Maximum Deposit
-
Lock-in
-
FD Tenure
-
Loan against FD
A1+
CRISIL Rating
Federal Bank FD Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 7% | For 5 years with interest of 6.6% |
|---|---|---|
| ₹ 50,000 | ₹ 61,646 | ₹ 69,486 |
| ₹ 1 lakh | ₹ 1,23,293 | ₹ 1,38,971 |
| ₹ 2 lakh | ₹ 2,46,585 | ₹ 2,77,942 |
| ₹ 5 lakh | ₹ 6,16,463 | ₹ 6,94,856 |
| ₹ 10 lakh | ₹ 12,32,926 | ₹ 13,89,711 |
Compare Federal Bank Fixed Deposit Returns with Top Banks
Use FD calculator to change values and compare your returns from top banks.
vs
UCO Bank FD
 | | |
|---|---|---|
| Maturity Amount | ₹ 1,07,016 | ₹ 1,06,485 |
| Total Investment Amount | ₹ 1,00,000 | ₹ 1,00,000 |
| Total Interest Gained | ₹7,016 | ₹ 6,485 |
Compare Federal Bank Fixed Deposit Rates with Top Banks
| Bank Name | FD Interest Rates |
|---|---|
 | 6.3% - 6.8% |
 | 8.6% - 9.1% |
 | 6.25% - 6.75% |
 | 7.25% - 7.75% |
 | 7.75% - 8.25% |
 | 7.25% - 7.75% |
 | 6.5% - 7% |
 | 6.7% - 7.2% |
 | 5.8% - 6.3% |
 | 6.5% - 6.9% |
Calculate Federal Bank FD Returns
₹1,00,000
Total Investment
7,016
Wealth Gained
₹1,07,016
Maturity Amount
Track your existing FDs
Explore Debt Funds, instead!
The flexible & tax efficient alternative to FDs.
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.
Federal Bank Fixed deposit schemes.
Following are the types of FD schemes that Federal Bank offers:
- Fixed Deposit
- Cash Certificate
- Tax Savings Deposit
- Millionaire Deposit
- Federal Bank Deposit Plus (Non-Callable Deposit)
- Federal Bank Green Deposit
Federal Bank Fixed Deposit
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.
- Tenure: 7 days to 10 years
- Minimum Deposit Amount: INR 1,000
- Maximum Deposit Amount: No Limit
- Interest Payout: Depositors can choose interest payment frequencies, monthly or quarterly or annually. The interest is credited to the Federal Bank Savings account automatically.
- Loan Facility: Depositors can get a loan against their FD; they can avail of a loan up to 90% of their deposit amount.
- Auto-Renewal Facility: Available
- Nomination Facility: Available
Federal Bank Cash Certificate
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.
- Tenure: 6 months to 10 years
- Minimum Deposit Amount: INR 1,000
- Maximum Deposit Amount: No Limit
- Loan Facility: Depositors can get a loan against their FD; they can avail a loan up to 90% of their deposit amount.
- Auto-Renewal Facility: Available
- Nomination Facility: Available
Federal Bank Tax Savings Deposit
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.
- Lock-in period: 5 years
- Minimum Deposit Amount: INR 100 and in multiples of INR 100, thereafter
- Maximum Deposit Amount: No Limit
- Premature withdrawal: Not available
- Loan Facility: Not available
Federal Bank Millionaire Deposit
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:
- Loan Facility: Available
- Premature withdrawal: Available, however, no interest is paid for withdrawals made before the completion of 1 year for NRE deposits.
- Nomination Facility: Available
- Eligibility: Any resident Indian or NRI customer can open a millionaire deposit account.
- Repatriable: The amount is freely repatriable for NRI customers.
Federal Bank Deposit Plus (Non-Callable Deposit)
Federal Bank’s Deposit Plus offers higher interest rates for your idle money than other normal deposits.
- Minimum Investment Amount: INR 15,00,001
- Tenure: Minimum 12 months
- Premature Closure: Not Allowed
- Interest Payout: Monthly or Quarterly options available
Federal Bank Green Deposit
Federal bank green deposit is a fixed deposit account for a specific tenure. The deposit amount will be utilized for lending to green building projects, renewable energy projects, and projects in smart agri, waste or water management projects etc.
Key Features of Federal Bank Fixed Deposit
- Tenure: The tenure of Federal Bank FD ranges from seven days to ten years. One cannot change the tenure of the Federal FD once it has commenced.
- Minimum and maximum investment: 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 FD rates: 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.
- Premature withdrawal: All Federal Bank FDs can be withdrawn prematurely except for tax saving FDs. Also, the Federal bank charges a 1% penalty on the interest for all premature withdrawals irrespective of the tenure of investment.
- Loan against FD: Federal Bank offers loans against their FDs. Investors can get up to 90% of the deposit amount as a loan. Also, the interest rate for the loan will be as per the terms of the Federal Bank. Moreover, the loan is provided only against their fixed deposits and cash certificate.
- Nomination facility: Federal Bank FD investors can nominate beneficiaries for their FDs.
- Auto-renewal: Investors can opt for auto-renewal of their Federal Bank FDs.
- Safety: The Deposit Insurance Scheme of RBI covers all Federal Bank deposits. The scheme covers all Federal Bank deposits up to INR 5,00,000.
- Additional payments: Investors cannot deposit an additional amount in a Federal Bank FD once it has commenced. However, they can open a fresh Federal Bank FD with the new amount.
How to open a Federal Bank FD deposit account?
One can open a Federal Bank FD account through various modes such as Internet Banking, Mobile App and offline.
Internet Banking
The following steps will help an individual to open a Federal Bank FD account through internet banking:
- Login to the Federal Bank NetBanking account.
- On the home page, select the ‘Fixed Deposit’ option.
- Choose the type of fixed deposit scheme.
- Next, provide all the necessary details, nominee details, deposit duration, interest payout frequency, payment and maturity instructions.
- Verify the details and click on ‘Submit’ to complete the account opening process.
Through Mobile App
Federal Bank App
The following steps will guide in opening an FD account through Federal Bank Mobile App:
- In the home menu, select the ‘Fixed Deposit’ option.
- Choose the type of fixed deposit scheme.
- Next, provide all the necessary details, nominee details, deposit duration, interest payout frequency, payment and maturity instructions.
- Verify the details and click on ‘Submit’ to complete the account opening process.
Offline Federal Bank FD Opening
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.
Documents required to Open a Federal Bank FD
To open a fixed deposit account with Federal Bank, one needs the following documents:
- FD application form
- Photographs of the depositor
- PAN Card
- ID proof (PAN Card, Driving License, Aadhar Card, and Passport)
- Address proof (Aadhar Card, Telephone bill, Electricity Bill)
- Age proof (Birth certificate, PAN Card, Discharge certificate, matriculation certificate).
Eligibility to Open a Federal Bank FD
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.
- Individuals, including minors
- Sole proprietors
- Partnership firms
- Joint-stock companies
- Hindu undivided families (HUF)
- Clubs, associations and trusts
How are Federal Bank FDs taxed?
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%.
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Frequently Asked Questions
What is the highest Federal Bank FD rate today?
The highest Federal Bank FD rates for general citizens is 7.5% p.a. and 8% p.a. for senior citizens.
What is the highest interest rate on Federal Bank 1 year FD scheme?
The highest interest rate on Federal Bank 1 year FD scheme is 6.8% p.a.
What is Federal Bank FD scheme interest rate for 5 years?
6.6% p.a is the interest rate for 5 years on Federal Bank FD scheme.
How many years FD will double in Federal Bank?
To know in how many years Federal Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years Federal Bank Bank FD will double. The current highest Federal Bank FD interest rate is 7.5% so investors will double the investment in 9.60 years. Similarly, senior citizen depositors will double their FD investment in 9.00 years, where the highest FD rate for senior citizens is 8%.
What is Federal Bank FD minimum deposit amount?
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.
What is senior citizen fixed deposit interest rates in Federal Bank?
The senior citizen fixed deposit interest rates in Federal Bank range between 3.5% to 8% p.a. for an available minimum and maximum investment duration.
What are the available FD tenures in Federal Bank?
Federal Bank FD tenure ranges from 7 days to 9 years 11 months 29 days
What is Federal Bank FD ROI for 10 lakh deposit for 1 year?
The interest from the Federal Bank FD calculator for 10 lakh deposit for 1 year will be INR 70,160. The maturity value will be INR 10,70,160. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in Federal Bank?
You can check Federal Bank FD balance either online or offline mode. For online mode, log in to the Federal Bank internet banking portal. Alternatively, you can visit the nearest Federal Bank bank to update your passbook for FD balance enquiry.
How many FDs can be opened in Federal Bank?
There is no restriction on the number of FDs you can open with Federal Bank.
