Federal Bank FD Rates

Federal Tax Saving FD Rates

Particulars	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens
5 years	6.60	7.25

NRE Fixed Deposit Interest Rates of Deposits less than Rs 3 crores w.e.f. 2 August 2024

Period	Interest Rates (% p.a.)
1 year to 399 days	6.80
400 days	7.35
401 days to 776 days	7.05
777 days	7.40
778 days to less than 3 years	7.05
3 years to less than 50 months	7.00
50 months	7.40
Above 50 months to less than 5 years	7.00
5 years and above	6.60

FCNR(B) Fixed Deposit Interest Rates of deposits w.e.f. 23 October 2024

Period	Interest Rates (% p.a.)
	USD
	Less than 10 lakhs	10 lakhs and above
1 year	5.60	5.60
1 year 1 day	5.85	6.10
1 year 2 days to less than 15 months	5.50	5.50
15 months to less than 2 years	5.00	5.00
2 years to less than 3 years	4.60	4.60
3 years to less than 4 years	4.00	4.00
4 years to less than 5 years	3.75	3.75
5 years only	3.40	3.40

Period	Interest Rates (% p.a.)
	GBP	EURO	YEN	CAD	AUD	CHF	NZD	SGD	HKD
1 year to less than 2 years	5.50	4.10	0.20	4.30	5.00	0.05	0.05	0.42	0.33
2 years to less than 3 years	4.80	2.65	0.20	3.80	4.60	NA	NA	0.84	0.72
3 years to less than 4 years	4.00	2.00	0.20	3.30	4.00	NA	NA	0.78	0.74
4 years to less than 5 years	3.50	1.75	0.10	3.20	3.60	NA	NA	0.78	0.65
5 years only	3.00	1.70	0.10	2.85	3.60	NA	NA	0.80	0.57

RFC Fixed Deposit Interest Rates of deposits w.e.f. 23 October 2024

Period	Interest Rates (% p.a.)
	USD
	Less than 10 lakhs	10 lakhs and above
6 months to less than 1 year	5.60	5.60
1 year	5.60	5.60
1 year 1 day	5.85	6.10
1 year 2 days to less than 15 months	5.50	5.50
15 months to less than 2 years	5.00	5.00
2 years to less than 3 years	4.60	4.60
3 years only	4.00	4.00

Period	Interest Rates (% p.a.)
	GBP	EURO	YEN	CAD	AUD	CHF	NZD	SGD	HKD
6 months to less than 1 year	5.50	4.10	0.20	4.30	5.00	0.05	0.05	0.42	0.33
1 year to less than 2 years	5.50	4.10	0.20	4.30	5.00	0.05	0.05	0.42	0.33
2 years to less than 3 years	4.80	2.65	0.20	3.80	4.60	NA	NA	0.84	0.72
3 years only	4.00	2.00	0.20	3.30	4.00	NA	NA	0.78	0.74

Types of Federal Bank FD Schemes

FD Schemes for Resident Depositors

Regular Fixed Deposits

• Minimum deposit amount: Rs 1,000
• Tenure: 7 days to 10 years
• Depositors can opt for annual, half-yearly, monthly or quarterly payout option
• Automatic renewal facility is available
• Both the principal and the interest amount will be credited to the savings account automatically on the due date
• Nomination facility is available
• Depositors can avail of a loan of up to 90% of the deposit amount

Federal Tax Savings Deposit

• Deposit amount: Minimum- Rs 100; Maximum: Rs 1.5 lakhs in a financial year
• Tenure: 5 years (lock-in period)
• Deposits under Federal Tax Savings scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
• Interest is compounded at quarterly intervals
• Premature withdrawal is not allowed
• Loan facility is not available

Federal Cash Certificate (Reinvestment of Interest Component)

• This scheme allows reinvestment of the interest component to the deposit amount
• Minimum deposit amount: Rs 1,000
• Tenure: 6 months to 10 years
• The interest is compounded every quarter
• Premature withdrawal is not allowed
• Automatic renewal facility is available
• Both the principal and the interest components of the FD will be credited to the savings account on the maturity date
• Nomination facility is available
• Depositors can avail of a loan against cash certificates for up to 90% of the deposit

Federal Bank NRI Schemes

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
• In the case of a cash certificate, the interest component is added to the principal amount (reinvestment plan) on quarterly basis

NRO Fixed Deposit

• Depositors can avail advance of up to 90% of the deposit amount at an 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

Foreign Currency Non-Resident Account Deposit (FCNR)

• Depositors can hold deposits in any of these 10 currencies: US Dollars (USD), British Pound (GBP), Euro (EURO), Japanese Yen (YEN), Australian Dollar (AUD), Swiss Franc (CHF), Canadian Dollar (CAD), New Zealand Dollar (NZD), Hong Kong dollar (HKD) 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 the NRE status of their rupee funds
• Tenure: 1 year 1 day to 5 years
• The deposit is opened as an FCNR deposit
• On the 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 the 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

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 are applicable
• Depositors can also avail loan via a missed call to 8880144225 or send SMS in the format INSTANT LAD to 8546995577 from the registered mobile number
• In order to avail of a missed call and SMS service, the deposit amount should be a minimum Rs 5,000 and minimum tenure left for a 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

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.