The Federal Bank revises interest rates on term deposits: details inside

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The Federal Bank, a private sector lender, has revised interest rates on term deposits below 2 crore. According to the bank’s website, the new rates are effective as of today, July 18, 2022. Following the revision, the bank is now offering an interest rate on deposits maturing in 6 months at 10 years which ranges from 4.25 percent to 5.75 percent. percent for the general public and 4.75 to 6.40 percent for seniors.

Federal Bank FD rate 2022

The bank will now offer an interest rate of 4.25% on deposits maturing in 6 months, while the Federal Bank will now offer an interest rate of 4.80% on deposits maturing in 9 months . The bank will now pay 5.45% interest on term deposits that mature in one year and 5.75% on deposits that mature in two years. Term deposits maturing in 750 days will now earn an interest rate of 6.00% and term deposits maturing in 3-6 years will now earn an interest rate of 5.75%.

On deposits with maturities ranging from 2222 days to 75 months, the Federal Bank now grants an interest rate of 5.95%. In addition, the bank now guarantees an interest rate of 5.75% on deposits with a maturity of 7 to 10 years. As a result of the interest rate change, senior residents will now enjoy an interest rate ranging from 4.75% to 6.40% on deposits maturing in 7 days to 10 years from the Federal Bank, in addition to the rate of 0.50% above the regular rate provided by the Federal Bank. bank.

As a result of today’s change by the Federal Bank, senior citizens will benefit from a maximum interest rate of 6.60% on term deposits maturing in 2222 days to 75 months, while the general public will receive a maximum interest rate of 6% on term deposits maturing in 750 days.

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Federal Bank FD rate (federalbank.co.in)

On July 16, 2022, Canara Bank revised interest rates on term deposits. The bank now offers an interest rate on deposits with maturities of 7 days to 10 years from 2.90% to 5.75% for the general public and from 2.90% to 6.25% for the elderly to following the change. While on July 16, 2022, Axis Bank, a private sector lender, raised the interest rate by 25 basis points for deposits below Rs. 2 crores with maturities of 6-7 and 8-9 months, respectively.

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