Private sector lender Federal Bank has increased interest rates on fixed deposits of less than Rs. 2 crores in all periods. The bank announced this on 16 May 2022, and deposits maturing in 7 days to 2223 days and above will attract an interest rate of 2.65 per cent to 5.75 per cent for the general public, while senior citizens will enjoy an interest rate of 3.15 per cent. will get. 6.40 percent.
Bank Earlier, 2.50 per cent interest rate was offered on deposits maturing in 7 to 29 days, but now it will be 2.65 per cent, an increase of 15 basis points. The interest rate on fixed deposits maturing in 30 to 45 days has been increased by 25 basis points from 3 per cent to 3.25 per cent. Federal Bank will now offer interest rates of 3.65% and 3.75% on deposits maturing in 46 days to 60 days and 61 days to 90 days as against 3.25% on deposits maturing in 46 days to 90 days earlier. The interest rates on deposits maturing in 91 days to 119 days and 120 days to 180 days will now be 4.00 per cent and 4.25 per cent, respectively, from 3.75 per cent earlier on deposits maturing in 91 days to 180 days.
The interest rates on fixed deposits maturing from 181 days to 270 days and 271 days to less than one year will now be 4.50 per cent and 4.75 per cent, respectively, while the interest rate on deposits maturing in less than one year from 181 days will now be Earlier it was 4.40 percent. Federal Bank will now offer an interest rate of 5.40 per cent on deposits maturing in 1 year to 549 days, 5.50 per cent on deposits of 550 days and 5.40 per cent on deposits maturing in 551 days to less than 2 years. The interest rate on deposits maturing in 2 years, less than 3 years and 3 years to less than 5 years, was earlier 5.35 per cent and 5.40 per cent respectively, but now it is at least 5.75 per cent for deposits maturing in 2 years. Has been done. 5 years.
The interest rate on deposits maturing in 5 years to 2221 days was 5.60 percent earlier, but now it has been increased by 15 basis points to 5.75 percent. Earlier, the interest rate on deposits maturing in 2222 days was 5.75 percent, but now it has been increased by 20 basis points to 5.95 percent. On deposits of 2223 days and above, Federal Bank will now offer an interest rate of 5.75 per cent, up from 5.6 per cent earlier. Senior citizens, on the other hand, will get 0.50 percent additional premium for all tenures. As a result of the bank’s interest hike, elderly residents will get a maximum rate of 6.60 per cent on deposits maturing in 2222 days.
Federal Bank Fixed Deposit Interest Rates
Following are the updated interest rates for resident fixed deposits till May 16, 2022.
7 days to 29 days – 2.65%
30 days to 45 days- 3.25%
46 days to 60 days – 3.65%
61 days to 90 days – 3.75%
91 days to 119 days- 4.00%
120 days to 180 days – 4.25%
181 days to 270 days- 4.50%
271 days to less than 1 year – 4.75%
1 year to 549 days – 5.40%
550 days- 5.50%