Federal Bank has recently changed its FD rates. Whenever it comes to investment, the first thing that comes to mind is FD. In such a situation, Federal Bank’s FD (Fixed Deposit) can also prove to be very useful for you, where you will get interest up to 7.9 percent.
This FD rate will be applicable on investments less than Rs 3 crore. Let us tell you that the new FD rates of the bank have come into effect from 16 September 2024.
Federal Bank is offering interest rates on FDs ranging from 3% to 7.4%. These interest rates are being offered on FDs of 7 days to 5 years and above. The highest interest rate offered by the bank is 7.4% on FDs of 777 days and 50 months.
7.9 percent interest to senior citizens
The bank’s FD interest rates for senior citizens range from 3.5% to 7.9%. This is for FDs ranging from 7 days to 5 years and above. Senior citizens get the highest interest of 7.9% on FDs of 777 days and 50 months.
keep these things in mind too
If you withdraw money from your FD within 15 days, then you will not have to pay any penalty. However, if you withdraw money after 15 days before your FD matures, then you will have to pay a penalty of 1 percent.
In case of Smart Deposits, if you withdraw money within 90 days, you will not have to pay any charge. However, if you withdraw money after 90 days, you will have to pay a penalty of 1 percent.
