Federal Bank FD Rates

The Federal Bank offers its customers attractive fixed deposit products at interest rates ranging from 3% p.a. to 6.40% p.a. The investment duration for these products ranges from 7 days to 10 years. The bank offers investment products for Indian citizens as well as Non-resident Indians. Further, this scheme has no maximum investment amount, and you can easily manage your investment owing to the automatic renewal facility. 

Federal Bank FD Rates

Given below are the Federal Bank FD interest rates for different investment amounts and tenure:

Below Rs. 2 Crore

Given below are the Federal Bank FD Interest rates for an investment of less than Rs. 2 Crore for different investment tenures:

Investment Duration	Interest Rate for General Public (p.a.)	Interest Rate for Senior Citizens (p.a.)
7 days to 29 days	3.00%	3.50%
30 days to 45 days	3.25%	3.75%
46 days to 60 days	3.75%	4.25%
61 days to 90 days	4.00%	4.50%
91 days to 119 days	4.10%	4.60%
120 days to 180 days	4.25%	4.75%
181 days to 332 days	4.80%	5.30%
333 days	5.45%	5.95%
334 days to less than 1 year	4.80%	5.30%
1 year	5.45%	5.95%
1 year 1 day to less than 20 months	5.60%	6.10%
20 months	5.90%	6.40%
More than 20 months but less than 2 years	5.60%	6.10%
2 years to 749 days	5.75%	6.25%
750 days	6.10%	6.60%
751 days but less than 5 years	5.75%	6.25%
5 years to 2,221 days	5.75%	6.40%
2,222 days	6.00%	6.65%
2,223 days to less than 75 months	5.75%	6.40%
75 months	6.10%	6.75%
More than 75 months	5.75%	6.40%

Above Rs. 2 Crore

Given below are the Federal Bank FD rates for an investment amount of over Rs. 2 Crore:

Investment Duration	Rs.2 crore - Rs.5 crore	Above Rs.5 crore - Rs.25 crore	Above Rs.25 crore - Rs.50 crore	Above Rs.50 crore
7 days - 14 days	3.40%	3.40%	3.40%	3.40%
15 days - 29 days	3.50%	3.50%	3.50%	33.50%
30 days - 45 days	3.75%	3.75%	3.75%	3.75%
46 days - 60 days	4.30%	4.30%	4.30%	4.30%
61 days – 90 days	4.65%	4.65%	4.65%	4.65%
91 days - 120 days	5.00%	5.00%	5.00%	5.00%
One hundred twenty-one days - 180 days	5.10%	5.10%	5.10%	5.10%
181 days - 270 days	5.50%	5.50%	5.50%	5.50%
271 days – Less than a year	5.80%	5.80%	5.80%	5.80%
1 year	6.25%	6.25%	6.25%	6.25%
1 year 1 day – 18 months	6.35%	6.35%	6.35%	6.35%
Above 28 months - 2 years	6.40%	6.40%	6.40%	6.40%
Above 2 years - 3 years	6.40%	6.40%	6.40%	6.40%
Above 3 years - 5 years	6.40%	6.40%	6.40%	6.40%
Above 5 years	6.40%	6.40%	6.40%	6.40%

Federal Bank Tax Saving FD Rates

Given below are the Federal Bank FD interest rates for a tax saving fixed deposit:

Investment Duration	Rate of Interest
5 years	5.75%

Types of Federal Bank Fixed Deposits 

The different types of Federal Bank Fixed Deposits are as follow:

• Regular Fixed Deposit
• Tax Saving Fixed Deposit

Features and Benefits of Federal Bank Fixed Deposits

Federal Bank fixed deposit schemes offer a host of advantages that make it the ideal choice for any investor. Given below are some of the features and benefits of the Federal Bank FD that make it an ideal investment option:

• The investor can opt for monthly, half-yearly, quarterly or annual interest payout options 
• You can get a loan against your fixed deposit account of up to 90% of the total investment amount
• You can start an investment with just Rs.1,000, and there is no cap on the maximum investment amount
• Federal bank fixed deposits have an automatic renewal option
• You can add a nomination to your FD account

Eligibility Criteria for Federal Bank FD

Given below are the individuals and entities who are eligible to open a fixed deposit account with the Federal Bank:

• Any entity that is not prohibited by the Reserve Bank of India
• Individuals
• Hindu Undivided Families
• Joint Stock Companies 
• Firms
• Proprietorships 
• Clubs/Associations
• Joint Accounts

How is the Interest Rate Calculated on a Federal Bank Fixed Deposit?

The interest rate for a fixed deposit from Federal Bank is calculated in a below-given manner:

• Simple interest is paid out maturity for a fixed deposit tenure of fewer than six months
• For a fixed deposit tenure of over six months, the interest is calculated quarterly
• Cumulative or reinvestment interest is calculated quarterly and added to the principal amount in a way that the interest is paid on the interest earned in the previous quarter as well
• In case of the monthly investment plan, the interest is calculated quarterly and paid monthly at a discounted rate

Tax on Federal Bank FD

The returns earned from a fixed deposit account are typically taxed at the individual’s applicable tax slab rate. For instance, a person with an annual income of over Rs.10 lakh per annum will be liable to deposit 30% income tax on the returns earned from an FD in a fiscal year. Banks must also deduct TDS on the interest earned from your FD. Given below are the applicable rates for TDS deduction:

Status	TDS Rate
PAN Submitted to the Bank	10.00%
PAN not Submitted to the Bank	20.00%
Held by NRI	30.00%

Federal Bank FD Minimum/ Maximum Deposit Amount

The Federal Bank offers its customers superior flexibility and ease when it comes to their investment portfolio. As it stands, you can invest in a Federal Bank FD with a minimum amount of Rs. 1,000. There is no maximum investment amount for a Federal Bank FD.

Federal Bank Fixed Deposit Returns Comparison With Top Banks

The table below draws a detailed comparison between the Federal Bank FD with fixed deposit options offered by other banks and NBFCs in the country:

Name of Bank/NBFC	Interest Rates (p.a.)
Baroda UP Bank FD	5.2% - 5.8%
Utkal Grameen Bank FD	5.45% - 5.95%
Uttar Bihar Gramin Bank FD	5% - 5.5%
City Union Bank FD	5.3% - 5.6%
Madhyanchal Gramin Bank FD	5.3% - 5.8%
Sundaram Finance FD	6.65% - 7.15%
South Indian Bank FD	5.75% - 6.25%
Saurashtra Gramin Bank FD	5.3% - 5.8%
ESAF Small Finance Bank FD	5.75% - 6.25%
Central Bank of India FD	5.35%

How to Open a Federal Bank FD Account

Given below is the step-by-step process to open a fixed deposit account with the Federal Bank:

Step 1: Visit the nearest Federal Bank branch.

Step 2: Obtain the fixed deposit account opening form and fill it with all the required information. To be opened, you must provide details like the account's name, address, contact number, email ID, and PAN type.

Step 3: Enter the investment tenure. Usually, banks offer a tenure ranging from 7 days to 10 years. The customer can choose an investment tenure according to their respective financial goal.

Step 4: Attach the cheque for the investment amount. Alternatively, you may pay the investment amount via net banking from another account.

Step 5: Attach all the required documents; you will need to attach KYC documents like Identity proof documents, address proof documents, and PAN cards.

Step 6: The banker will verify the account opening form and other documents.

Step 7: Once the documents have been verified, the account provider will give you an acknowledgement slip regarding the account opening.