Effective December 05, 2023, Federal Bank has updated its deposit interest rates. The new rate for 500-day deposits stands at 7.50 per cent for both resident and non-resident deposits.
Non-withdrawable fixed deposits for the same duration now carry an interest rate of 7.65 per cent. Senior citizens can avail themselves of a maximum return of 8.15 per cent for 500-day tenures and 7.80 per cent for tenures ranging from 21 months to less than three years.
The new fixed deposit interest rates are tabled below
Tenure |
Withdrawable before maturity ( than 2 Cr) |
Non-withdrawable before maturity (Above 1 Cr – than 2 Cr) | ||
General Public |
Senior Citizen |
General Public |
Senior Citizen |
|
500 Days |
7.50% |
8.00% |
7.65% |
8.15% |
Above 21 Months to less than 3 years |
7.05% |
7.55% |
7.30% |
7.80% |
Interest rates for Foreign Currency Non-Resident (FCNR) and Resident Foreign Currency (RFC) have been increased, with additional revisions outlined below.
Tenure | USD | |
than ₹10 lakh |
₹10 lakh & above |
|
1 year 1 day |
6.10% |
6.15% |
1 year |
5.60% |
5.60% |
1 year 2 days to less than 15 months | 6.00% | 6.00% |
15 months to less than 2 years | 5.45% | 5.45% |
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Published: 07 Dec 2023, 09:23 AM IST