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Federal Bank Recurring Deposit Interest Rates 2020

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 RD when it comes to recurring deposits:

Period Interest Rate (p.a)
181 days to less than a year 6.00%
1 year 6.30%
Above 1 year to less than 20 months 6.40%
20 months 6.50%
Above 20 months 6.40%

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 6.25% p.a. to general citizens..

Federal Bank Medium Term Recurring Deposit Interest Rates

For medium term recurring deposits, general citizens are offered interest in the range of 6.60% - 6.70% 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 6.60% p.a.

Federal Bank RD Interest Rates FAQs

  • Who is eligible to open a Federal Bank Recurring Deposit account?
  • A Federal Bank Recurring Deposit account can be opened by:

    • Individuals
    • By the guardian on behalf of a minor
    • Joint account with another individual
    • Hindu Undivided Families (HUFs)
    • Associations/Clubs
    • Joint stock companies
    • Sole proprietaries
    • Firms
    • Any other entity that has not been prohibited by the Reserve Bank of India
  • Is it possible to change the tenure of the Recurring Deposit account?
  • No, it is not possible to change the tenure of the Recurring Deposit account.

  • Can I pay an additional amount towards the Recurring Deposit account?
  • No, you cannot pay an additional amount towards the Recurring Deposit account.

  • Can the interest be withdrawn before the account matures?
  • No, the interest that has been generated cannot be withdrawn before the RD account matures.

  • Can I avail a loan against the RD account?
  • Yes, loans can be availed against the money that is available in the account.

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

Recurring Deposit - Sitemap

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