The rates below are for deposits of less than Rs. 100 lakhs. For deposits of Rs. 1 crore or more, please contact the bank for further details. The rates mentioned below are subject to change.
|Period||Less than Rs.100 Lakhs %|
|271 days to less than 1 year||6.5|
|Above 1 year to 2 years||6.6|
|Above 2 years to 1110 days||6.5|
|1112 days and above||6.5|
Get the Best Rates for a Federal Bank Recurring Deposit
A recurring deposit scheme helps save small amounts of money every month in order to achieve your goals or future needs. Choose an amount and term according to your financial affordability and convenience. Deposit as low as Rs. 50, in multiples of Rs. 10 thereof. There is no maximum limit specified. Standing instructions can be made to automatically deduct the deposit amount every month from your savings account. Loan against deposit is also available. The minimum tenure for RDs is 6 months and is capped at 10 years. The interest rates offered on an RD depends on the term and amount of the deposit.
Short term recurring deposits comprise of tenures between 9 months to less than 1 year. These deposits earn 6.50% per annum and for 1 year of deposit earns 6.70%. NRIs are not eligible to open short term deposits. The minimum term is 1 year for NRI accounts.
Federal Bank Medium and Long Term Recurring Deposit Interest Rates
For medium term deposits, customers can earn 7.15% per annum. Medium terms are above 1 year to less than 2 years. Long term deposits are taken for 2 years up to 1110 days, , only 1111 days tenure and 1112 days & above. These RDs earn 6.60% for the tenure of above 2 years to 1110 days and 6.80% for 1111 days, 6.50% interest per annum for 1112 days and above.
Federal Bank Senior Citizen Recurring Deposit Interest Rates
Senior citizens are entitled to 0.50% additional interest above the regular rate. This bonus is given regardless of the tenure. Senior citizens can earn 6.50% to 6.70% per annum on short term deposits. For deposits above 2 year and to 1110, the interest given is 6.50% per annum. Deposits made for 1112 days and above attract 6.50% per annum interest.
Federal Bank NRE/NRO Recurring Deposit Interest Rates
NRIs can open an RD scheme with Federal Bank for a period of 1 year minimum. Interest on a deposit made for less than 2 years earns 7.50% interest per annum. Deposits for 2 years and above earn 7.5% interest.
More you need to know about Recurring Deposit
- Compare Recurring Deposit Rates of Federal Bank with Other Banks and Institutions
- Check Features and Schemes of Federal Bank Recurring Deposit
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