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Federal Bank Recurring Deposit Interest Rates

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A Recurring deposit account with Federal Bank can be opened for a minimum deposit of Rs.50. The bank offers two types of recurring deposit schemes namely - 

  • Federal Savings Fund 
  • Millionaire Federal Savings Fund 

There is no cap on the maximum amount when it comes to depositing in the RD accounts offered by the bank. Federal Bank also offer customers loan facility against the balance in the recurring deposit. The tenure for which you can open an RD account with the bank ranges between 6 months and 10 years. Listed below are the tenures and interest rates offered by Federal Bank when it comes to recurring deposits: 

 
Deposit Tenure Interest rate offered to General Public (p.a.) Interest rate offered by Senior Citizens (p.a.)
181 days to less than 12 months 6.50% 7%
12 months to 24 months  7.30% 7.80%
24 months 1 day to less than 36 months 7.40% 7.90%
More than 36 months 7.25% 7.75%

Federal Bank Short-Term Recurring Deposit Interest Rates 

Short-term recurring deposits are those which have a tenure of 181 days to less than 12 months. The interest offered on such RDs by the bank is 6.50% p.a. to general citizens and 7% p.a. to senior citizens

Federal Bank Medium Term Recurring Deposit Interest Rates 

For medium term recurring deposits, general citizens are offered interest in the range of 7.30% - 7.40% p.a. Citizens who are above the age of 60 years are offered in the range of 7.80% to 7.90% p.a. Medium-term RDs are those which have deposit tenures of 12 months to 36 months. 

Federal Bank Long Term Recurring Deposit Interest Rates 

Long term Recurring Deposits are those which have a deposit above 36 months. The interest paid by Federal Bank to general citizens on such deposits is 7.25% p.a. Senior citizens are offered 7.75% p.a. for investing in long-term RDs. The maximum tenure offered by the bank to citizens when it comes to long term recurring deposits is 7.75% p.a. 

More you need to know about Recurring Deposit

Read More Articles On RD

News About Federal Bank Recurring Deposit

  • Federal Bank Revises RD Interest Rates

    Federal Bank is one of the leading banks in India today. Recently, the bank decided to revise its recurring deposit interest rates. Depositors can now earn 7.15% p.a. for a tenure of 1 year to below 3 years. People who own a Federal Bank RD with a tenure of 3 years can earn an interest of 7.35% p.a. and people who own a RD with a tenure of more than 3 years can earn an interest rate of 7.1% p.a.

    1 December 2016

  • Federal Bank Revises Recurring Deposit Rates

    Federal Bank whose RD schemes are one of the most sought after investment products in the market, recently revised the interest rates. Federal Bank Recurring Deposit schemes are divided into three categories - for general customers, NRI customers and senior citizens. The bank’s general RD customers will now receive an interest rate of 7.5% per annum for tenures varying from 1 year to 10 years instead of 7.6% per annum. Senior citizens will receive an interest rate of 8% per annum instead of 8.1% per annum for RD tenures from 1 year to 10 years.

    For NRI customers, the interest rate for RD tenures ranging from 1 year to less than 2 years has been revised to 7.5% per annum from 7.6% per annum. Interest rate of Recurring Deposit for senior citizens for a tenure of 6 months to 364 days remains the same at 7.5% per annum. For general customers, the interest rate for recurring deposit tenures ranging from 6 months to 364 days remains unchanged at 7% per annum.

    2 March 2016

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Federal Bank RD Rates Reviews

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  • Federal Bank Recurring Deposit
    "Tactical investment plan"
    FEDERAL BANK
    0.5 5.0/5 "Blown Away!"
    I always Prefer Recurring Deposit instead of Fixed deposit, It is a tactical investment plan . So have invested for higher interest rates in Federal bank . Its a three years plan and going to complete by this year and hoping for better returns .
    Was this review helpful? 2
    , kochi
    Reviewed on Apr 10, 2019
  • Federal Bank
    Federal Bank Recurring Deposit
    "Prompt Service"
    FEDERAL BANK
    0.5 5.0/5 "Blown Away!"
    I do have recurring deposit with Federal bank. I forgot the interest rate for this RD account. But this is a long time process. I felt more comfortable in opening recurring account with federal because all my financial accounts are in this bank only. Till date the bank service is very prompt.
    Was this review helpful? 4
    , pune
    Reviewed on Aug 23, 2017
  • Federal Bank Recurring Deposit
    "Good for investment purposes"
    FEDERAL BANK
    0.5 5.0/5 "Blown Away!"
    I have a Recurring 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. Their online banking is user friendly. The tenure is for 10 years and I pay around Rs.5000 monthly.
    Was this review helpful? 13
    , new delhi
    Reviewed on Mar 28, 2016
  • Federal Bank Recurring Deposit
    "Best"
    FEDERAL BANK
    0.5 5.0/5 "Blown Away!"
    I am having the recurring deposit with federal bank of india.The rate of interest as 6%.The minimum locking period is one year.The services are really made me happy.The customer service and the responsiveness are really best.
    Was this review helpful? 3
    , ahmedabad
    Reviewed on Jun 27, 2015
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