Find the Best Rates for a Federal Bank Recurring Deposit
Less than Rs.100 Lakhs (in %)
271 days to less than 1 year
Above 1 year to 2 years
Above 2 years to 1110 days
1112 days and above
Having an RD account is the best way to start saving to finance emergency needs and increase your wealth. You can choose the deposit amount and deposit term according to your convenience and affordability with Federal Bank. You can deposit of as low as 50 rupees with Federal Bank and there is no maximum limit for the deposits. The depositor can also make standing instructions so that the amount gets automatically deducted from their savings account. The depositors can also take a loan against this deposit. The tenure of RD varied from 6 months-10 years. The interest rates applicable to the Rds offered by federal Bank depend on the deposit term and amount of deposit.
Federal Bank Short-Term Deposit Interest Rates
The tenure of 9 months- 1 year comprises the short-term Recurring Deposit which earns an interest rate of 6.5% per annum. For the deposit term of one year, the depositor earns 6.7% interest. NRIs cannot open short-term deposit account since the minimum tenure for opening NRI RD accounts is 1 year.
Federal Bank Medium and Long-Term Recurring Deposit Interest Rates
The customers can earn an interest of 7.15% per annum for medium-term deposits. Medium terms deposit term for Federal Bank ranges from 1-2 years. Long-term deposits range from 2 years up to 1110 days. For the tenure of 2 years-1110 days, an interest rate of 6.8% is applicable. and for a tenure of 1112 days and above, the interest rate of 6.5% per annum is applicable.
Federal Bank Senior Citizen Recurring Deposit Interest Rates
Senior citizens can receive an additional interest rate of 0.5% above the regular interest rate. The additional interest rate is applicable irrespective of the tenure chosen by the individual. Senior citizens may earn an interest rate of 6.5%-6.7% on the short-term deposits. For deposits of more than 2 years-1110days, the applicable interest rate is 6.5% per annum. When the deposit term is 1112 days and above, the interest earned on the deposits is 6.5% per annum.
Federal Bank NRE/NRO Recurring Deposit Interest Rates
NRI/NRE RD scheme is applicable on NRIs and NROs for a minimum tenure of one year. For a deposit made for less than 2 years, the interest rate applicable is 7.5%. For a deposit term of 2 years and more, the depositor earns a 7.5% interest rate