Federal Bank Fixed Deposit Interest Rates - Benefits & Best Plan
Federal Bank Fixed Deposit Interest Rates: Are you looking for the best fixed deposit plan to save your money in Federal Bank. Here, we explained all details related to Federal Bank Fixed Deposit Interest Rates. Federal Bank has announced an interest rate of 9.5% per annum on fixed deposits for a tenure of 1 year to 2 years. This is one of the highest interest rates offered by any bank in India.
Federal Bank Fixed Deposit Interest Rates - Overview:
Federal Bank offers some of the best interest rates on Fixed Deposits in India. The interest rates offered by Federal Bank on Fixed Deposits vary based on the amount deposited and the tenure. The bank has a long history of providing excellent returns on investments, and the interest rates on FDs have always been competitive. The current Federal Bank FD Interest Rates for senior citizens are,
|Federal Bank Fixed Deposit Interest Rates|
- 7.00% for tenure of 7 days to 45 days
- 7.50% for tenure of 46 days to 179 days
- 8.00% for tenure of 180 days to 210 days
- 8.50% for tenure of 211 days to 364 days
- 9.00% for tenure of 1 year & above but less than 2 years.
The interest rates on Federal Bank fixed deposits have been as follows, 2019 - Jan to Mar - 7.00% to 7.50%, 2018 - Oct to Dec - 6.75% to 7.25%, 2018 - Jul to Sep - 6.50% to 7.00%
What are the Current Federal Bank Fixed Deposit Interest Rates?
The current Federal Bank fixed deposit interest rates for regular deposits range from 4.50% to 7.00%. The interest rate for senior citizens is 0.50% higher than the regular rates. The tenor for regular deposits ranges from 7 days to 10 years, while senior citizens can open FDs for a minimum tenure of 1 year.
Federal Bank Fixed Deposit Interest Rates - How They Work?
Federal Bank offers several different types of fixed deposit (FD) accounts, each with its own interest rate and minimum deposit amount. The interest rate on your FD account will depend on the type of account you open, the amount you deposit, and the length of your FD term. Here's an overview of Federal Bank's current FD interest rates Type of FD Account Minimum Deposit Amount Interest Rate (%)
- Regular FD Account $5,000 1.50%
- Senior Citizen FD Account $5,000 2.00%
- NRE FD Account $5,000 1.50%
- FCNR FD Account $5,000 1.75%
To earn interest on your Federal Bank FD account, you must maintain a minimum balance in your account throughout the term of your FD. If you withdraw funds from your account before the end of your term, you may be subject to an early withdrawal penalty. When you open a fixed deposit account with Federal Bank, you will be able to choose from several different FD terms. The longer your FD term, the higher your interest rate will be. You can open an FD account with a term as short as 7 days or as long as 10 years.
Federal Bank Fixed Deposit Interest Rates - Advantages:
There are many advantages of investing in Federal Bank Fixed Deposit Interest Rates.
- The interest rate is higher than the average market rate, so you can earn more on your investment.
- The bank offers a wide range of investment options, so you can choose the plan that best suits your needs.
- You can also choose to have your interest paid monthly, quarterly, or at maturity, so you can earn interest on your investment more quickly.
Federal Bank Fixed Deposit Interest Rates - Disadvantages
While a bank fixed deposit offers several advantages, it also has certain disadvantages which must be considered before investing in one.
- The biggest disadvantage of a bank FD is that it offers low liquidity. This means that if you need to access your money before the maturity date, you will have to pay a penalty. This can be as high as 2% of the deposit amount.
- Another downside of bank FDs is that they offer limited returns. In today’s market scenario, there are other investment options available that can offer higher returns than bank FDs.
- If you are looking for an investment option with flexible tenure, then bank FD is not the right choice for you. The tenure of a bank FD is fixed and cannot be changed once the deposit is made.
How To Get Federal Bank Fixed Deposit?
You can open a Federal Bank Fixed Deposit either by visiting your nearest Federal Bank branch or by applying online.
- To open an account online, you will need to have a net banking account with the bank.
- From there, you can login to your net banking account and select the ‘Fixed Deposit’ option.
- You will be taken to a page where you can fill in your personal details, the amount you wish to deposit and the tenure of the deposit.
- Once you have submitted the form, an executive from the bank will get in touch with you to complete the process.
1. What is a Federal Bank Fixed Deposit?
Ans: A Federal Bank Fixed Deposit is a savings account where you can deposit your money for a fixed period of time and earn interest on it. It is a safe and secure way to save your money and grow your wealth.
2. What are the interest rates for Federal Bank Fixed Deposits?
Ans: The interest rates for Federal Bank Fixed Deposits vary depending on the amount of money you deposit, the tenure of the deposit, and the type of account you open.
The Federal Bank offers some of the best interest rates on fixed deposits in the market. If you are looking for a safe and secure investment option with good returns, then a Federal Bank fixed deposit is a good option for you. You can visit the Federal Bank official site for more information.
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