Federal Bank Hike FD Rates: Reserve Bank of India has increased the repo rate almost twice in the last two months. After this hike, all banks have increased their loan interest rates. Now taking a car and home loan has become expensive for the customers. Along with this, the bank has decided to increase the interest rates in the savings bank account and fixed deposit account along with the increase in the repo rate. Since this decision of the central bank, all private and government sector banks are continuously increasing their FD interest rates (FD Rate Hike).
In this episode, the big private bank Federal Bank has also decided to increase its interest rates. The bank has decided to change the interest rates of different tenures. The bank has increased 10 basis points on FDs of 7 to 29 days. At the same time, on FD of 180 days to 270, there has been an increase of 10 basis points. The bank has only increased by 15 basis points on one year term deposits. The bank is getting about 0.50 percent more interest rate to its senior citizen customers than the common people. So let us tell you about the interest rate offered by the bank on FDs of different tenures-
Federal Bank gets this interest on FD of less than 2 crores
7 to 29 days – 2.75%
30 to 45 days – 3.25%
46 days to 60 days – 3.65%
61 days to 90 days – 3.75%
91 days to 119 days-4.00%
120 days to 180 days -4.25%
181 days to 270 days -4.60%
271 days to 1 year -4.75%
1 to 2 years -5.60%
2 to 749 days – 5.75%
up to 750 days-5.85%
751 days to 5 years-5.75%
5 years to 2221 days-5.75%
up to 2222 days-5.95%
2223 days to 75 months-5.75%
75 months-5.95%
over 75 months – 5.75%
Bank increased savings interest rate
According to the report published in the official website of Federal Bank, you will get 2.75 percent interest rate on less than 5 crores. At the same time, up to 5 crores for an amount more than 5.75 percent and for an amount more than 5 percent, there will be a return of 4 percent. This new interest rate has been implemented from 9 June 2022.
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