federal bank have modified Rate of interest Feather Fixed deposit Less than Rs 2 crore. According to the official website of the bank, the new rates are effective from September 27, 2022.

For fixed deposits with maturities ranging from 7 days to 10 years, the bank is now offering interest rates that range from 3.00% to 6.00% for general public and 3.50% to 6.65% for senior citizens.

Source: Bank’s website


According to the Federal Bank website, “resident fixed deposit interest rates also apply to resident cash certificates, federal savings funds, federal tax savings deposits and NRO fixed deposits”.

Premature Withdrawal Penalty Fee

Features and Benefits of Federal Fixed Deposit Scheme

• Minimum deposit amount for fixed deposit is only Rs. 1000/-
• There is no maximum amount for fixed deposit
• Interest can be withdrawn at specific frequencies monthly or quarterly or annually
• Fixed deposits have automatic renewal facility
• On the due date, the interest and principal amount will be automatically credited to your Federal Bank savings account.
• You can opt for monthly, half-yearly, quarterly or annual interest payments, automatic renewal, automatic credit of interest and principal to your account on due dates, etc.
• Nomination facility available
• You can get loan against fixed deposit up to 90% of the deposit amount
• The minimum deposit period of fixed deposit is 7 days and maximum deposit period is 10 years.