Federal Bank revises interest rates on fixed deposits: Details inside

Federal Bank FD Rates

The bank will now offer an interest rate of 3.00% on fixed deposits maturing in 7 days to 29 days, while Federal Bank will now offer an interest rate of 3.25% on fixed deposits maturing in 30 days to 45 days. Fixed deposits with maturities between 46 and 60 days are now available at 3.75%, while fixed deposits with maturities between 61 and 90 days are now available at 4.00%. On fixed deposits maturing from 91 days to 119 days, Federal Bank will now offer an interest rate of 4.10%, and on fixed deposits maturing from 120 days to 180 days, the bank will now offer an interest rate of 4.25%.

The bank will offer an interest rate of 4.80% on fixed deposits maturing in 181 days to 332 days and 5.45% on fixed deposits maturing in 333 days. Fixed deposits with maturities of 334 days and less than one year currently carry an interest rate of 4.80%, while the interest rate with maturity of 1 year is 5.45%. Federal Bank will now offer an interest rate of 5.60% on fixed deposits maturing in more than one year but less than 20 months and 5.90% on fixed deposits maturing in 20 months.

Fixed deposits will now offer an interest rate of 5.60% for maturities above 20 months and less than 2 years, and 5.75% for maturities between 2 years and 749 days. Federal Bank will now pay 6.10% interest rate on fixed deposits maturing in 750 days and 5.75% interest rate on deposits maturing in 751 days to 2221 days. Currently, Federal Bank will pay 6.00% interest on fixed deposits maturing in 2222 days and 5.75% interest on fixed deposits maturing in 2223 days less than 75 months. The bank will now offer interest rates of 6.10% and 5.75% respectively on fixed deposits of 75 months and above 75 months.

Monetary Policy Statement, 2022-23 As per the resolution of the Monetary Policy Committee (MPC), the policy repo rate under the Liquidity Adjustment Facility (LAF) was increased by 50 basis points to 5.40 per cent from August 3-5, 2022. ) of the Reserve Bank of India. Banks have increased interest rates on their retail loan and deposit products as a result of rising market interest rates. When it comes to fixed deposit interest rates, they are on the rise, and investors can benefit by locking their deposits with a bank that guarantees higher interest rates than its competitors. Fixed deposit investors should note that, since RBI’s hike in the repo rate, a handful of banks like State Bank Of India, HDFC, axis Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, indusind bank, PNB, Canara Bank, Central Bank Of India, Indian Overseas Bank (IOB), Karur Vysya BankAnd Ujjivan Small Finance Bank Till now, they have increased their interest rates on fixed deposits.

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