Federal Bank FD rates: The private sector lender has announced a special Independence Day offer featuring highly competitive interest rates on term deposits. On this special occasion, the private sector lender has hiked its fixed deposit rates to 8.05% for senior citizens.
Federal Bank FD rates: Federal Bank has announced a special Independence Day offer featuring highly competitive interest rates on term deposits. On this special occasion, the private sector lender has hiked its fixed deposit rates to 8.05% for senior citizens.
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Federal Bank FD rates on callable fixed deposits
Under the callable FD category, the bank has announced new rates for deposits with 400 days, 777 days and 50 months tenors. General citizens will be offered FD rates of 7.35%, 7.40% and 7.40%, respectively. Senior citizens will get 7.85%, 7.90% and 7.90% interest rates, respectively on FDs of these tenors.
In callable FDs, customers are allowed to withdraw money, partially or fully, prior to the set maturity date.
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Federal Bank FD rates on non-callable deposits
Under the non-callable category, the bank is offering general citizens 7.5%, 7.55% and 7.55% on deposits of 400 days, 777 days and 50 months tenors, respectively. Senior citizens will be offered 8%, 8.05% and 8.05% interest rates, respectively on FDs of these tenors. These rates are applicable on non-callable deposits of over Rs 1 crore.
In non-callable FDs, customers are not allowed to close/break the deposit before maturity.
As India approaches its 77th Independence Day, Federal Bank reaffirms its commitment to financial growth and prosperity for all citizens, the bank said in a statement.
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“As we celebrate 77 years of Indian independence, Federal Bank is delighted to offer these exceptional interest rates to our valued customers,” said Joy P V, Senior Vice President & Country Head – Deposits, Wealth & Banca at Federal Bank.
“These rates reflect our dedication to fostering financial independence and growth for individuals and families across India,” Joy added.
The new interest rates are designed to provide customers with flexible options to maximize their returns, Federal Bank said.
“Whether opting for callable deposits with the freedom of premature withdrawal or choosing the Deposit Plus scheme for higher returns on larger investments, Federal Bank has tailored solutions to meet diverse financial needs. These rates will be available only for a limited period,” the bank said in its statment.
Customers can take advantage of these special rates by visiting any Federal Bank branch or through our digital banking platforms, it added.
