Federal Bank revises deposit rates, hikes Resident and Non-resident deposit rates

Interest Rate for 500 days is increased to 7.75% and 8.25 % for resident senior citizens.

Federal Bank revises deposit rates, hikes Resident and Non-resident deposit rates

18th January 2024, Mumbai: Federal Bank has revised interest rates for both resident and Non-resident deposits with effect from 17th January 2024. 

Interest Rate for 500 days is increased to 7.75% and 8.25 % for resident senior citizens. 

 

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The interest rate for non-withdrawable fixed deposits for 500 days is increased to 7.90% and for resident senior citizens, Federal Bank is now offering a maximum return of 8.40% for 500 days tenures. 

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New Deposit Rates are as follows:    

Tenure    

Withdrawable before maturity (Less than 2 Cr)   

Non-withdrawable before maturity   (Above 1 Cr – Less than  2 Cr) 

General Public  (NR & Resident) 

Resident Senior Citizen    

General Public  (NR & Resident) 

Resident Senior Citizen    

500 Days    

 7.75% 

8.25% 

7.90%  

8.40%    

Other details can be accessed from the official website of the bank.

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