Federal Bank is one of the major commercial banks in the private sector in India. Headquartered at Aluva, Kerala, Federal Bank has 1251 other branches and 1687 ATMs across the country. With services like internet banking, mobile banking, online bill payment, online fee collection, mutual fund products, Federal Bank provide different deposit schemes as per the need of the customers. Let us have a look at the various Federal Bank deposit schemes in detail.
Federal Bank FD Rates 2019
| Deposit Tenure | Regular Citizens (Less than Rs.200 Lakh) | Senior Citizens (Less than Rs.200 Lakh) |
| 7 days to 14 days | 3.50% | 4.50% |
| 15 days to 29 days | 4.50% | 5.50% |
| 30 days to 60 days | 5.00% | 6.00% |
| 61 days to 90 days | 5.70% | 6.70% |
| 91 days to 180 days | 6.00% | 7.50% |
| 181 days to 270 days | 6.25% | 7.50% |
| 271 days to less than 1 year | 6.50% | 8.30% |
| 1 year to less than 20 months | 7.00% | 8.30% |
| 20 months | 7.25 % | 8.30% |
| Above 20 months | 7.00% | 8.40% |
Note: The above interest rates are applicable with effect from 6th August 2019.
Interest rates for NRE/NRO Fixed Deposits (effective from 23-02-2019)
| Period | Less than Rs.100 Lakhs |
| 1 year to 2 years | 7.30% |
| Above 2 year to less than 3 years | 7.40% |
| 3 years and above | 7.25% |
FCNR (B) Deposits – effective from 10 May 2019
| Deposit Tenure | Less than Rs.2.5 lakh | Rs.2.5 lakh and above | ||||
| USD | GBP | EURO | USD | GBP | EURO | |
| 1 year to less than 2 years | 3.52% | 1.90% | 0.80% | 3.70% | 2.00% | 0.90% |
| 2 years to less than 3 years | 3.39% | 2.06% | 0.82% | 3.44% | 2.11% | 0.87% |
| 3 years to less than 4 years | 3.33% | 2.12% | 0.88% | 3.33% | 2.12% | 0.88% |
| 4 years to less than 5 years | 3.32% | 2.17% | 0.96% | 3.32% | 2.17% | 0.96% |
| 5 Years only | 3.34% | 2.20% | 1.05% | 3.34% | 2.20% | 1.05% |
| Deposit Tenure | YEN | CAD | AUD | CHF | NZD | SGD | HKD |
| 1 year to less than 2 years | 1.01% | 3.21% | 2.45% | 0.37% | 2.73% | 2.95% | 3.08% |
| 2 years to less than 3 years | 0.99% | 2.92% | 2.39% | 0.37% | 2.69% | 2.93% | 3.08% |
| 3 years to less than 4 years | 0.98% | 2.91% | 2.40% | 0.44% | 2.70% | 2.94% | 3.10% |
| 4 years to less than 5 years | 0.98% | 2.92% | 2.59% | 0.52% | 2.76% | 2.96% | 3.12% |
| 5 Years only | 0.99% | 2.96% | 2.67% | 0.62% | 2.83% | 2.99% | 3.16% |
RFC Deposits (effective from 10 May 2019)
| Deposit Tenure | USD | GBP | EURO | YEN | CAD | AUD | CHF | NZD | SGD | HKD |
| 6 months to less than 1 year | 3.52% | 1.90% | 0.80% | 1.01% | 3.21% | 2.45% | 0.37% | 2.73% | 2.95% | 3.08% |
| 1 year to less than 2 years | 3.52% | 1.90% | 0.80% | 1.01% | 3.21% | 2.45% | 0.37% | 2.73% | 2.95% | 3.08% |
| 2 years to less than 3 years | 3.39% | 2.06% | 0.82% | 0.99% | 2.92% | 2.39% | 0.37% | 2.69% | 2.93% | 3.08% |
| 3 Years only | 3.33% | 2.12% | 0.88% | 0.98% | 2.91% | 2.40% | 0.44% | 2.70% | 2.94% | 3.10% |
Types of Federal Bank Fixed Deposit Schemes
Let us have a look at various Federal Bank fixed deposit schemes:
- Federal Bank Regular Fixed Deposit
- Federal Cash Certificate
- Federal Bank Tax Saving Deposit
- Federal Bank NRE Fixed Deposit
- Federal Bank NRO Fixed Deposit
- Federal Bank FCNR (B) Deposits
- Federal Rupee Plus
1. Federal Bank Regular Fixed Deposit
Federal Bank provides its customers with regular fixed deposit scheme using which customers can invest a lump sum amount of their choice for a specified tenure to earn interest on their investment. Following are some of the key features of Federal Bank Regular Fixed Deposit scheme:
| Features of Federal Bank Regular Fixed Deposit |
|
| Federal Bank Regular Fixed Deposit Eligibility Criteria |
| The account can be opened by any resident individual, minors (with Guardian), HUF, Sole Proprietory, Clubs / Associations, Firms, Joint stock companies, any other entity not prohibited by RBI. |
2. Federal Cash Certificate
Federal Cash Certificate scheme is a goal oriented deposit model by Federal Bank, which focuses on providing high interest to their customers. If you want to double your investment in short tenure without any risk, then Federal Cash Certificate is an ideal investment option for you. Features & benefits of the deposit account is mentioned below:
| Features of Federal Bank Cash Certificate |
|
| Federal Bank Cash Certificate Eligibility Criteria |
| The account can be opened by any resident individual, minors (with Guardian), HUF, Sole Proprietory, Clubs / Associations, Firms, Joint stock companies, any other entity not prohibited by RBI. |
3. Tax Saving Deposit
Federal Bank Tax Saving Deposit scheme provides tax exemption up to Rs.1.5 lakh under Section 80C of the Income Tax Act, 1961. The features & benefits of the account are as follows:
| Features of Federal Bank Tax Saving Deposit |
|
| Federal Bank Tax Saving Deposit Eligibility Criteria |
| The account can be opened by any resident individual. |
4. NRE Fixed Deposit
NRI Individuals can open a Federal Bank NRE Deposit Account, which can be maintained for minimum deposit tenure of 1 year and a maximum period of 10 years. Below-mentioned are some of the features & benefits of Federal Bank NRE Fixed Deposit:
| Features of Federal Bank NRE Fixed Deposit |
|
| Federal Bank NRE Fixed Deposit Eligibility Criteria |
| Federal Bank NRE Deposit can be opened by NRI individuals. |
5. NRO Fixed Deposit
NRI Individuals can open a Federal Bank NRO Deposit Account, which can be repatriated outside India for any purpose. Below-mentioned are some of the features & benefits of Federal Bank NRO Fixed Deposit:
| Features of Federal Bank NRO Fixed Deposit |
|
| Federal Bank NRO Fixed Deposit Eligibility Criteria |
| Federal Bank NRE Deposit can be opened by NRI individuals. |
6. FCNR (B) Deposits
With Federal Bank FCNR Deposit, you can hold your investments and earnings in 10 foreign currencies in India with high interest rate. With high interest rates, you can also enjoy the benefit of 100% tax free interest in India. Following are the 10 different currencies in which you can open this account:
- US Dollar (USD)
- Great Britain Pound (GBP)
- Euro (EUR)
- Japanese Yen (JPY)
- Canadian Dollar (CAD)
- Australian Dollar (AUD)
- Swiss franc (CHF)
- New Zealand Dollar (NZD)
- Singapore Dollar (SGD)
- Hong Kong Dollar (HKD)
| Features of Federal Bank FCNR Deposit |
|
| Federal Bank FCNR Deposit Eligibility Criteria |
| Federal Bank NRE Deposit can be opened by NRI individuals. |
7. Federal Bank Rupee Plus
Federal Bank provides its customers with Rupee Plus deposit scheme which provides assured returns, 100% tax free and freely repatriable. Following are some of the key features of Federal Bank Regular Fixed Deposit scheme:
| Features of Federal Bank Rupee Plus |
|
| Federal Bank Rupee Plus Eligibility Criteria |
| Federal Bank NRE Deposit can be opened by NRI individuals. |
Documents Required for Open Federal Bank Fixed Deposit Account
Along with the application form, any customer looking to invest in a fixed deposit offered by Federal Bank will be required to provide following documents.
| Documents Required for Federal Bank Fixed Deposit |
| Proof of Identity |
| PAN card Aadhaar card Voter ID Passport Driving license, etc. |
| Proof of Residence |
| Utility Bills (Telephone Bills, Electricity Bills) Voters’ ID card Driving license Passport Any other document approved by the bank |
Federal Bank FD Calculator
Before opting for any fixed deposit offered by any bank or financial institution, you can easily check your fixed deposit maturity amount using the Fixed Deposit Calculator. If you plan to invest in Federal Bank Fixed Deposit, then you can check your fixed deposit maturity amount using the Federal bank FD Calculator at Paisabazaar. You only need to provide details like your investment amount, Federal Bank FD Rates and deposit tenure to choose the deposit scheme that best suits your needs.
How to apply Federal Bank Fixed Deposit?
You can apply for a Federal Bank Fixed Deposit easily by either online or offline mode. If you are an active internet banking customer, then you can open your fixed deposit online using the FedNet internet banking account. If you do not have Internet banking facility activated, please visit your nearest Federal Bank branch for opening the deposit.
Federal Bank Fixed Deposit News
| Federal Bank revises its FD interest rates |
| 8 August, 2019 Federal Bank has revised its fixed deposit interest rates with effect from 6th August 2019. The bank is offering an interest of 5.00% for FDs maturities in 7 days to 60 days, 5.70% for maturities between 61 days to 90 days and 6.00% for maturities between 91 to 180 days. Moreover, the bank is providing an interest rate of 6.5% and 7% for FDs maturing in 1 year less than 20 months and above 20 months respectively. The bank is offering an interest rate of 7.25% for 20 months. |