• Overview of Federal Bank Fixed Deposit

    Founded by Mr. Kulangara Paulo Hormis as Travancore Federal Bank, Federal Bank was christened in the year 1947. With headquarters on the banks of river Periyar, in Aluva, Kerala, Federal now boasts of more than 2000 branches and ATM centres across India.

    Federal Bank is a major Indian commercial bank in the private sector with its target customer band being SME, retail and NRI categories. Federal Bank’s paramount aim of customer satisfaction led it to become the pioneers in various banking arenas in India over the last few decades.

    Federal Bank has many feathers in its cap, including being the first to bring in various innovative services to the Indian banking industry. To name a few, electronic telephone bill payment, e-shopping payment gateway, implementing express remittance facility from abroad, RTGS facilities in all bank branches, providing customers with virtual accounting system, IMPS facility, etc. Federal Bank also claims being the first to offer its clients a mobile-based electronic passbook, colloquially known as the FedBook.

    About Federal Bank’s Fixed Deposit

    Federal Bank’s fixed deposit scheme is called the ‘Federal Fixed Deposit Scheme’.

    For depositors looking for a healthy combination of safety, liquidity and returns, Federal Fixed Deposit Scheme is the perfect solution. Federal Bank’s fixed deposit account is the best place to invest your savings as well as your surplus. With an assurance of satisfactory profit, Federal Fixed Deposit Scheme is the right place to invest your hard earned money and be stress free about the safety and returns on your vested assets. Federal Bank’s fixed deposit account promises its depositors with periodical income through regularly accrued interest.

    Features of the Federal Fixed Deposit Scheme

    Following are the key features of the Federal Fixed Deposit Scheme which insure your investments are invested in the right place:

    • Flexible deposit durations suit various depositor preferences
    • High rate of return on investment
    • Interest and principal credited to the depositor’s account at regular intervals
    • Nomination facility available
    • Automatic renewals of fixed deposit accounts

    Payout Options for Federal Fixed Deposit Schemes

    A depositor holding a fixed deposit account with Federal Bank can opt for the following payout options-

    • Monthly
    • Quarterly
    • Half yearly
    • Yearly

    Eligibility for Opening an Account under the Federal Fixed Deposit Scheme

    Following are the entities that are eligible to open an account under the Federal Fixed Deposit Scheme-

    • Individuals
    • Guardians on behalf of minor individuals
    • Sole proprietors
    • Firms
    • Joint stock companies
    • Hindu undivided families
    • Clubs
    • Associations

    What Is the Minimum / Maximum Amount Required to Open a Fixed Deposit Account with Federal Bank?

    The minimum amount required to open an account under the Federal Fixed Deposit Scheme is Rs.1,000. There is no maximum cap on the amount a depositor can invest in a fixed deposit account with Federal Bank.

    What Is the Minimum / Maximum Duration of a Fixed Deposit Account with Federal Bank?

    The minimum duration for a fixed deposit account with Federal Bank is 7 days and the maximum duration that a depositor can invest in a fixed deposit account with Federal Bank is 10 years.

    Rates of Interest Offered on the Federal Fixed Deposit Scheme

    Federal Bank’s fixed deposit scheme, Federal Fixed Deposit offers its customers high returns on the investments with assured safety of their vested assets. Federal Fixed Deposit Scheme provides rates of interest in the range of 5.00%-8.75%.

    What Is the Procedure for Opening a Fixed Deposit Account with Federal Bank?

    In order to open a fixed deposit account under the Federal Fixed Deposit Scheme, a customer can download the application form from the BankBazaar website. Upon completion of filling of the form, it can be submitted with all the required supporting documents.

    Are Loans Provided Against a Fixed Deposit Account with Federal Bank?

    Yes, Federal Fixed Deposit Scheme offers its customers with an overdraft facility of up to 90% of the amount they have deposit into a Federal Bank fixed deposit account.

    What Are the Benefits Offered to Senior Citizens under the Federal Fixed Deposit Scheme?

    Senior citizens are provided with an added 0.50% on the existing standard rack rates of interest.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Federal Bank Fixed Deposit Reviews

    • Federal Bank Fixed Deposit
      "Good customer support"
      0.5 5.0/5 "Blown Away!"
      In Federal bank , for Recurring deposit they provide very good interest rate of almost 7.5% .Even it is applicable for shorter period and longer term also . Very good customer support . After comparing with other banks , I decided to start my FD in Federal bank .
      Was this review helpful? 1
      , kochi
      Reviewed on Apr 09, 2019
    • Federal Bank
      Federal Bank Fixed Deposit
      "Nominal interest"
      0.5 4.0/5 "Great!"
      I have invested Rs.50,000 in Federal Bank FD account, it has the tenure of five years, they told they would provide 6.5% of interest for the fixed deposit account. It is not that much great. I am an existing customer of the bank, hence I opened FD with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 20, 2017
    • Federal Bank Fixed Deposit
      "Good savings"
      0.5 5.0/5 "Blown Away!"
      I have a Fixed Deposit with Federal Bank. Since my salary account was with them, the customer service and responsiveness is very good. They offer preferential rates for women and online banking is easy. The amount is Rs.1 Lakh and was opened prior to marriage in 2007. It has not matured yet.
      Was this review helpful? 5
      , new delhi
      Reviewed on Mar 28, 2016
    • Federal Bank Fixed Deposit
      "Increase the rate "
      0.5 5.0/5 "Blown Away!"
      Federal bank is giving more than 6% interest rate for the fixed deposit. The minimum lock in period is for one year. After the maturity the amount will be credited to the bank. Sms and mail are sent on time for the payment reminder . They have to increase the interest for the FD because other nationalized and private banks are giving a good rate.
      Was this review helpful? 7
      , bangalore
      Reviewed on Jan 23, 2016
    • Federal Bank Fixed Deposit
      "Very good.."
      0.5 5.0/5 "Blown Away!"
      We can not find crowd in the branch of Federal bank so people can do transaction easily. There would be no delay in process. Employees in the branch are very professional. Federal bank is giving very good rate for Fixed deposit so I opened it six months ago.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 09, 2015
    • Federal Bank Fixed Deposit
      "High interest paid"
      0.5 4.0/5 "Great!"
      I opened a Fixed deposit account in Federal Bank. Federal Bank offered higher interest rate than many other banks. Documentation was really simple. I made this fixed deposit for 5 years and one of the features that I liked was the penalty charge , which was just 1% on breaking the Fixed Deposit before the tenure period.
      Was this review helpful? 7
      , mumbai
      Reviewed on Aug 14, 2015
    • Federal Bank Fixed Deposit
      0.5 3.0/5 "Satisfactory"
      I availed a fixed deposit from Federal bank of India which was good. This deposit is linked with my company it is easily accessible. I would say that the customer support is really good as I have never faced any issues till now. The rate of interest offered was 12% which is good as it is a corporate offer.
      Was this review helpful? 3
      , new delhi
      Reviewed on Dec 24, 2014
    • Federal Bank Fixed Deposit
      0.5 5.0/5 "Blown Away!"
      Was this review helpful? 4
      , rajkot
      Reviewed on Dec 02, 2014
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