Federal Bank has changed the interest rate of its fixed deposits. According to the official website of the bank, the new interest rates will be applicable from Jan 10, 2025. If you want to deposit a large amount in the bank, then this is a golden opportunity for you because the maximum interest rate offered by Federal Bank is up to 8 percent.
How much interest rate is being received?
According to the official website of the bank, the new interest rate has been implemented from January 10. The increase of 50 basis points (BPS) in fixed deposits will also prove to be very beneficial for you. On one year tenure, customers are getting the benefit of 7 percent interest rate and senior citizens are getting 7.5 percent interest rate. On tenure of 2 years, interest rate of 7.15 percent is being given to general customers and 7.65 percent to senior citizens.
Whereas on tenure of 3 to 4 years, general customers are getting 7.10 percent interest rate and senior citizens are getting 7.60 percent interest rate. On tenure of 5 years, customers are getting 7.10 percent interest rate and senior citizens are getting 7.60 percent interest rate. On tenure of more than 5 years, customers are getting the benefit of 6.60 percent interest rate and senior citizens are getting the benefit of 7.10 percent interest rate.
