Federal Bank FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 7.00% (for 700 days) |
| For 1 year | 5.60% |
| For 2 years | 5.75% |
| For 3 years | 6.00% |
| For 4 years | 6.00% |
| For 5 years | 6.00% |
| Tax-Saving FD | 6.00% |
The interest rates are updated as of 27 September 2022
Federal Bank FD Rates 2022
Fixed Deposit Interest Rates on Domestic/NRO deposits of less than Rs 2 crore w.e.f. 27 September 2022
| Period | Interest Rates (% p.a.) | |
| General Public | Senior Citizen | |
| 7 days to 29 days | 3.00 | 3.50 |
| 30 days to 45 days | 3.25 | 3.75 |
| 46 days to 60 days | 3.75 | 4.25 |
| 61 days to 90 days | 4.00 | 4.50 |
| 91 days to 119 days | 4.10 | 4.60 |
| 120 days to 180 days | 4.25 | 4.75 |
| 181 days to 332 days | 4.80 | 5.30 |
| 333 days | 5.60 | 6.10 |
| 334 days to less than 1 year | 4.80 | 5.30 |
| 1 year | 5.60 | 6.10 |
| Above 1 year to less than 20 months | 5.60 | 6.10 |
| 20 months | 6.10 | 6.60 |
| Above 20 months to 699 days | 5.60 | 6.10 |
| 700 days | 7.00 | 7.50 |
| 701 days to 749 days | 5.75 | 6.25 |
| 750 days | 6.50 | 7.00 |
| 751 days to less than 3 years | 5.75 | 6.25 |
| 3 years to less than 5 years | 6.00 | 6.50 |
| 5 years to 2221 days | 6.00 | 6.65 |
| 2222 days | 6.20 | 6.85 |
| Above 2222 days | 6.00 | 6.65 |
Note: Deposits opened for a duration of 2222 days will be considered as Green Deposits and funds will be used for funding Green loan portfolio
Federal Tax Saving FD Rates
| Particulars | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 6.00 | 6.65 |
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NRE Fixed Deposit Interest Rates of Deposits less than Rs 2 crores w.e.f. 27 September 2022
| Period | Interest Rates (% p.a.) |
| 1 year | 6.10 |
| Above 1 year to 699 days | 6.50 |
| 700 days | 7.00 |
| 701 days to 749 days | 6.50 |
| 750 days | 6.75 |
| 751 days to less than 3 years | 6.10 |
| 3 years to 2221 days | 6.20 |
| 2222 days | 6.25 |
| Above 2222 days | 6.20 |
FCNR(B) Fixed Deposit Interest Rates of deposits w.e.f. 16 September 2022
| Period | Interest Rates (% p.a.) | |||||||||||
| USD | GBP | EURO | YEN | CAD | AUD | CHF | NZD | SGD | HKD | |||
| Less than 2 lakhs | 2 lakhs to less than 10 lakhs | 10 lakhs and above | ||||||||||
| 1 year to less than 2 years | 3.65 | 3.85 | 4.00 | 2.10 | 0.05 | 0.05 | 2.40 | 2.40 | 0.05 | 0.05 | 0.42 | 0.33 |
| 2 years to less than 3 years | 3.00 | 3.00 | 3.00 | 2.40 | 0.05 | 0.05 | 2.50 | 2.50 | NA | NA | 0.84 | 0.72 |
| 3 years to less than 4 years | 2.75 | 2.75 | 2.75 | 2.45 | 0.05 | 0.05 | 2.60 | 2.60 | NA | NA | 0.78 | 0.74 |
| 4 years to less than 5 years | 3.15 | 3.15 | 3.15 | 2.20 | 0.10 | 0.05 | 2.60 | 2.60 | NA | NA | 0.78 | 0.65 |
| 5 years only | 3.25 | 3.25 | 3.25 | 2.20 | 0.10 | 0.05 | 2.60 | 2.60 | NA | NA | 0.80 | 0.57 |
RFC Fixed Deposit Interest Rates of deposits w.e.f. 16 September 2022
| Tenure | Interest Rates (% p.a.) | |||||||||
| USD | GBP | EURO | YEN | CAD | AUD | CHF | NZD | SGD | HKD | |
| 6 months to less than 1 year | 3.65 | 2.10 | 0.05 | 0.05 | 2.40 | 2.40 | 0.05 | 0.05 | 0.42 | 0.33 |
| 1 year to less than 2 years | 3.65 | 2.10 | 0.05 | 0.05 | 2.40 | 2.40 | 0.05 | 0.05 | 0.42 | 0.33 |
| 2 years to less than 3 years | 3.00 | 2.40 | 0.05 | 0.05 | 2.50 | 2.50 | NA | NA | 0.84 | 0.72 |
| 3 years only | 2.75 | 2.45 | 0.05 | 0.05 | 2.60 | 2.60 | NA | NA | 0.78 | 0.74 |
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Types of Federal Bank FD Schemes
Regular Fixed Deposits
- Minimum deposit amount: 1,000
- Tenure:7 days to 10 years
- Depositors can opt annually or monthly or quarterly payout option
- Automatic renewal facility is available
- Both the principal and the interest amount will be credited to savings account automatically on the due date
- Nomination facility is available
- Depositors can avail a loan of up to 90% of the deposit amount
- Deposits opened for a duration of 2222 days will be considered as Green Deposits and funds will be used for funding Green loan portfolio
Federal Tax Savings Deposit
- Deposit amount:Minimum- Rs 100; Maximum: Rs 1.5 lakhs in a financial year
- Tenure:5 years (lock in period)
- Interest is compounded at quarterly intervals
- Premature withdrawal is not allowed
- Loan facility is not available
- The scheme can be transferred to one branch from another
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Federal Cash Certificate (Reinvestment of Interest Component)
- This scheme allows reinvestment of the interest component to the deposit amount
- Minimum deposit amount: 1,000
- Tenure:6 months to 10 years
- The interest is compounded every quarter
- Premature withdrawal is not allowed
- Automatic renewal facility is available
- If automatic renewal is opted, then both the principal and the interest components of the FD will be credited to savings account on the maturity date
- Nomination facility is available
- Depositors can avail a loan against cash certificates for up to 90% of the deposit
Green Deposits
- The amount deposited under this scheme will be used for lending to environmentally sustainable projects like green building projects, renewable energy projects, smart agri, waste management or water projects, etc
- Depositors become part of the ESG (Environment, Social and Governance) framework
- Nomination facility is available
- The deposit can be opened online and offline. To open deposit online, depositors need to visit FedNet/FedMobile and select the period as 72 months and 30 days
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NRE Fixed Deposit
- Minimum deposit amount:Rs 500
- Tenure:1 year to 10 years
- Premature withdrawal of deposits is allowed, but no interest will be paid on premature withdrawal before the completion of 1 year
- The principal as well as interest earned are fully repatriable
- Advance will be granted for up to 90% of the deposit
- Loan can be repaid by transfer from the FCNR/NRE/NRO account of the borrower, remittance from abroad, or liquidation of the deposit
- Deposit amount is exempted from wealth tax
NRO Fixed Deposit
- Depositors can avail advance of up to 90% of the deposit amount at a interest rate of over 2% above the deposit rate plus interest tax
- Premature withdrawal of deposits is allowed
- The principal and interest can be repatriated outside India
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Foreign Currency Non Resident Account Deposit (FCNR)
- Depositors can hold deposits in any of these 8 currencies: US Dollars (USD), British Pound (GBP), Euro (EUR), Japanese Yen (YEN), Australian Dollar (AUD), Swiss Franc (CHF), Canadian Dollar (CAD) and Singapore Dollar (SGD)
- Tenure:1 year to 5 year
- Interest is paid at intervals of 180 days each and thereafter for the remaining number of days
- No interest will be paid in case the deposit is closed before 1 year
- The principal as well as interest earned are freely repatriable
- Loan can be availed under FCNR deposits
- Nomination facility is available
Federal Rupee Plus
- The scheme is tax free and allows depositors to earn decent returns without losing NRE status of their rupee funds
- Minimum deposit amount: Rs 10 lakhs
- Tenure:1 year 1 day to 5 years
- The deposit is opened as an FCNR deposit
- On opening of the deposit, a forward contract is simultaneously booked, with its delivery date coinciding with the maturity date of the deposit
- The maturity proceeds of the deposits are converted to Indian Rupee at an agreed rate i.e. conversion rate and date are predetermined and maturity value is assured.
- The return for Rupee plus Accounts is the Premium on the corresponding currencies at the time of opening, based on daily forward rate, and the interest income earned on FCNR Accounts. Premium on currencies varies daily and is subject to market fluctuations.
- The maturity amount will be paid in repatriable Indian Rupee
- Premature withdrawal is not allowed for the deposit
- Loan against the deposit is permitted subject to terms and conditions
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Premature Withdrawal of Fixed Deposits – Penalty Charges
Premature withdrawal penalty structure will be applicable for fixed deposits opened/renewed from 1 May, 2021
| Tenure | Single deposit of less than Rs 2 Crore | Single deposit of Rs 2 Crore and above |
| Up to 90 days | 0% | 1% |
| Above 90 days | 1% | 1% |
Also Know: What is Premature Withdrawal on Fixed Deposits
Loan against Fixed Deposits
- Depositors can avail loan of up to 90% of the fixed deposit amount
- Loans are only made against deposits that are free of liens, restraints, or encumbrances, and that are not held in the names of minors
- No penal interest and no processing fee is applicable
- Depositors can also avail loan via missed call to 8880144225 or send SMS in the format INSTANT LAD to 8546995577 from the registered mobile number
- In order to avail of missed call and SMS service, deposit amount should be minimum Rs 5,000 and minimum tenure left for fixed deposit to get matured should be more than 1 day
- Deposits maintained in FCNR or in the name of companies, minor and third parties are not eligible
- Tax saving fixed deposits are not eligible for loan against FD facility
- Deposits that are already used as security for other loans are not eligible
- Loan against fixed deposits is not available on the day when the deposit is opened
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FD Calculator
For any scheme provided by the bank, it is imperative to know the prevailing Federal Bank FD interest rates. This leads to more accurate estimation of returns one shall receive at the time of maturity. Using the FD calculator available at Paisabazaar.com can help customers get a better idea of this.
Using this calculator requires one to provide the deposit amount (principal) and FD tenure along with the current Federal Bank FD rates. Click on the “Calculate” button to check the potential maturity amount that the investor can earn if stay invested for the mentioned tenure at the Federal Bank FD rate provided.