Federal Bank Fixed Deposit

** Disclaimer: Federal Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

Federal Bank Fixed Deposit schemes are one of the most attractive in the country, with Federal Bank FD interest rates ranging between 3.00% per annum. to 7.7% per annum. The tenor for the same can range from 7 days to 10 years NRIs can also take advantage of this FD scheme. The Federal Bank senior citizen interest rates are higher than that of regular FDs. 

Federal Bank Fixed Deposit rates - Below ₹2 crore

Here’s the Federal Bank FD interest rates for deposits below ₹2 crore. 

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022. 

Federal Bank Resident Term Deposits of ₹2 crore and Above 

Here’s the Federal Bank Fixed Deposit rates for deposits above ₹2 crore.

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022.

Federal Bank Fixed Deposit rates: Above Rs.2 crore (Non-Withdrawable)

Here’s the Federal Bank FD interest rates for non-withdrawable deposits above ₹2 crore. 

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022.

Federal Bank Tax Saving FD Rates

Here’s the Federal Bank FD interest rates for tax-saving FDs above ₹2 crore. 

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022.

Federal Bank NRE FD Rates

Here’s the Federal Bank Fixed Deposit rates for NRE FDs.

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022.

Federal Bank NRI FD Rates

Here’s the Federal Bank FD interest rates for NRI FDs.

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022.

Federal Bank Federal Bank FCNR Rates

Here are the interest rates applicable for various foreign currencies such as US Dollar (USD), Euro (EURO), GBP (Pound Sterling), Japanese Yen (YEN), Hong Kong Dollar (HKD), Canadian Dollar (CAD), Australian Dollar (AUD), New Zealand Dollar (NZD), Swiss Franc (CHF) and Singapore Dollar (SGD). 

The Federal Bank Fixed Deposit interest rates can change at any point in time at the discretion of the bank. This data is valid as of 14th December 2022. As for the USD, these rates are for deposits of less than ₹2 lakh.

Features and Benefits of Federal Bank Fixed Deposit

Here are some of the features and benefits of the Federal Bank Fixed Deposit: 

• The tenor of the FD scheme can range between 7 days to 10 years.

• Federal Bank FD interest rates for senior citizens is higher than regular FD interest rates, which will help senior citizens grow their savings. 

• You can get up to 90% of your FD amount as a loan.

• You can add nominations to your FD. 

• You may opt for the auto-renewal option. 

• There is no upper limit on the amount that can be deposited in your FD.

• You must make a minimum deposit of  at least ₹1,000.

• You can use a  Federal bank FD calculator to arrive at accurate estimates and make efficient financial decisions. 

Eligibility Criteria

The following individuals and entities are eligible to book an FD with Federal Bank: 

• Joint stock companies

• Associations/ Clubs

• Joint accounts

• Individuals

• Hindu Undivided Family

• Firms

• Proprietorships

Documents Required

The following documents are required to be submitted when booking an FD with Federal Bank: 

• Application form

• Form 60 or 61 (in case PAN Card is not provided)

• Passport-size photographs

• Proof of identity

• PAN Card copy

• Proof of address

• Documents applicable for HUFs, companies, proprietorships, companies, partnership firms or similar entities. 

Types of Federal Bank Fixed Deposit Schemes

There are a number of different types of FDs offered by Federal Bank. Here are some of the FDs offered and their key features. 

1. Regular Fixed Deposits

Minimum deposit amount: ₹1,000

Tenor: 7 days to 10 years

• You can choose your preferred payout option. You can choose between an annual, monthly or quarterly payout option. 

• You may opt for the automatic renewal option as well. 

• Your principal balance and your interest amount will be credited to your savings account. 

• You may also opt for the nomination option. 

• In case of emergencies, you may choose to get a loan of up to 90% of your FD amount. 

• FDs that have been opened for a period of 2222 days or more will be considered for the Green Deposits and these funds will be used for funding the Green loan portfolio. 

2. Federal Tax Savings Deposit

Minimum deposit amount: ₹100

Maximum deposit amount: ₹1.5 Lakhs per financial year

Tenor: minimum 5 years (lock-in period)

• FD interest is compounded at every quarter

• Premature withdrawal will be not be permitted

• You cannot get a loan on this FD 

• You get the option to transfer your FD from one branch to another

3. Federal Cash Certificate (Reinvestment of Interest Component)

This scheme allows reinvestment of the interest component to the deposit amount

Minimum deposit amount: ₹1,000

Tenor: 6 months to 10 years

• Your FD interest will be compounded quarterly. 

• Premature withdrawal will not be permitted. 

• You may opt for an automatic renewal facility. 

• If you opt for the automatic renewal, then both your principal and your interest amounts shall be credited to your savings account at the time of maturity

• You may also opt for the nomination facility

• You may also opt for a loan against your cash certificates for a maximum of 90% of your deposit amount. 

4. Green Deposits

The funds that have been deposited as a part of this scheme will be used for lending towards environmentally sustainable projects such as smart agri, green building projects, waste management, renewable energy projects, or water projects, etc. 

• Depositors of this scheme will become a part of the Environment, Social and Governance (ESG) framework. 

• You may opt for the automatic renewal option as well. 

• This deposit can be booked both online as well as offline.

5. NRE Fixed Deposit

Minimum deposit amount: ₹500

Tenor: 1 year to 10 years

• You may opt for a premature withdrawal, but you would not be eligible for any interest payout if the premature withdrawal occurs prior to 1 year. 

• The principal amount as well as the interest earned on the deposits are completely repatriable. 

• You will be given the facility to avail an advance for up to 90% of your deposit. 

• The deposit amount will be exempted from any wealth tax. 

6. NRO Fixed Deposit

Depositors of this FD scheme can avail an advance of up to 90% of their deposit amount at an interest rate of over 2% above the deposit rate plus interest tax

• You may opt for a premature withdrawal as well. 

• Your principal as well as the interest amount can be repatriated outside India. 

7. Foreign Currency Non Resident Account Deposit (FCNR)

Depositors can hold deposits in any of the following eight currencies: US Dollars (USD), Euro (EUR), Canadian Dollar (CAD), British Pound (GBP), Japanese Yen (YEN), Swiss Franc (CHF), Australian Dollar (AUD), and Singapore Dollar (SGD)

Tenor: 1 year to 5 years

• The Interest will be paid at intervals of 180 days each

• You may opt for a premature withdrawal, but you would not be eligible for any interest payout if the premature withdrawal occurs prior to 1 year.

• Your principal as well as the interest amount can be repatriated outside India.

• You can get a loan under this facility

• You may opt for the nomination facility 

8. Federal Rupee Plus

This scheme is totally tax free and allows depositors to earn attractive returns without losing the NRE status of their rupee funds

Minimum deposit amount: ₹10 lakhs

Tenor: One year one day to five years

• The deposit is opened as an FCNR deposit

• Upon opening this FD, a forward contract will be booked simultaneously. 

• The proceeds for this deposit at maturity will be converted to INR at an agreed upon conversion rate.

Penalty Charges on Premature Withdrawal of Fixed Deposits 

Here are the penalty charges that will be applicable on premature withdrawal of FDs. 

Calculate Federal Bank FD Interest Rate

Having a comprehensive estimate of your FD returns and time horizons will help you budget your savings and plan for the future. This is why it’s crucial that you make these calculations, keeping in mind the prevailing interest rates, your deposit amount and the time period. You may use the Bajaj Markets FD calculator to arrive at an estimate.