Fixed Deposit Rate: There is good news for fixed deposit investors. If you also want to invest in FD now, then Federal Bank has increased its FD rates. Even today, FD is considered to be the most famous option for saving.
Federal Bank has made its customers happy by increasing the limit of their FDs. Federal Bank has increased the interest rates on FDs below Rs 2 crore. Federal Bank has announced a hike of 77 basis points in interest rates. According to Federal Bank, these increased rates will be valid only for a short time.
New FD interest rates of Federal Bank
Federal Bank is offering 3 percent interest rate on FDs maturing in 7 to 29 days and 3.25 percent on FDs maturing in 30 to 45 days. According to the bank’s website, it is paying 4.00 per cent interest on FDs maturing in 46 days to 60 days and 4.75 per cent interest on FDs maturing between 61 days to 90 days. 4.75 per cent on FDs maturing in 91 to 119 days.
Interest will be given at the rate of %. Those maturing in the next 120 to 180 days will now get interest at the rate of 5%. The bank is offering an interest rate of 5.75 percent on FDs maturing in the next 181 days to 270 days and 6 percent on FDs maturing in less than a year from the next 271 days.
Now these will be the new rates
Federal Bank is now offering an interest rate of 6.80 per cent on FDs maturing in 1 year to less than 15 months and 7.25 per cent on FDs maturing in 15 months to 2 years. FDs of more than two years and less than three years will now get interest at the rate of 6.75 percent. Maturity FDs of three years to less than five years will now get interest at the rate of 6.60 percent. The bank is offering an interest rate of 6.60 percent on FDs with a period of 5 years and above.
How much interest is being received on savings account
The bank is also offering an interest rate of up to 7.15 per cent on its savings account. According to the Federal Bank website, the interest rate is linked to the repo rate, so whenever the RBI changes the repo rate, that bank will also change the FD interest rates.
