and have grown Rate of interest On Fixed Deposit (FD). Both the banks have raised fixed deposit interest rates On deposits below Rs 2 crore, the revised interest rates will be applicable from July 18, 2022.

Federal Bank FD Interest Rate

The bank will pay 5.25% interest on fixed deposits with maturity of six months and 4.80 percent on deposits with tenors of 9 months. It will pay 5.45 per cent interest on fixed deposits with maturity of one year and 5.75 per cent on deposits with maturity of two years.

The bank will offer an interest rate of 6 per cent for the FD tenure of 750 days. The interest rate for a tenure of 2222 days 75 months is 5.95 per cent. Fixed deposits with maturities of 750 days or less will now fetch an interest rate of 6.00%, while fixed deposits with maturities of 3 to 6 years will now fetch an interest rate of 5.75%.

IDFC First FD Interest Rates

IDFC First The bank will offer an interest rate of 6.5 per cent for a new tenure of 500 days to two years.

The bank will continue to offer 6.50 percent interest rate on fixed deposits maturing in 3 years, 1 day to 5 years, while fixed deposits maturing in 2 years, 1 day and 3 years will now get 6.50 percent interest rate from 6.25 percent. Earlier