If you are interested in investing in FD amidst huge turmoil in the market, then you can plan your investment by considering the attractive rates of this private bank. You can get investment options for every kind of period.
There is good news for private sector Federal Bank customers. The bank has revised its fixed deposit rates. After this revision, Federal Bank is now offering up to 8 percent interest per annum on FD. The highest interest is now being offered on FDs with a tenure of 444 days. After the new revision, a maximum of 7.5 percent interest is being offered to general customers and up to 8 percent interest to senior citizens. The new rates have been implemented from January 10, 2025.
How much interest is being received in different periods
According to the official website of Federal Bank, on one-year deposits, Federal Bank is now offering 7.00 percent and 7.50 percent interest to general customers and senior citizens respectively. Similarly, on two-year deposits, the bank is offering 7.15 percent and 7.65 percent interest to general and senior citizens. On three-year and four-year deposits, the bank is now offering 7.10 percent interest to general citizens and 7.60 percent interest to senior citizens.
This much interest is being received on 777 days FD
On deposits with a tenure of 5 years, the bank is offering 7.10 percent interest to general citizens and 7.60 percent interest to senior citizens. On deposits of more than five years, the bank is offering 6.60 percent interest to general citizens and 7.10 percent interest to senior citizens. Similarly, on FDs of 777 days, general customers are getting 7.40 percent interest and senior citizens are getting 7.90 percent interest.
Federal Bank Performance
Federal Bank’s net profit in the September quarter rose 11 percent to Rs 1,057 crore. The bank had recorded a net profit of Rs 954 crore in the same period a year ago. Federal Bank’s total income increased to Rs 7,541 crore, from Rs 6,186 crore in the same quarter last year. The bank earned interest income of Rs 6,577 crore during the quarter under review, from Rs 5,455 crore in the same period a year ago. During this period, the bank’s gross non-performing asset (NPA) came down to 2.09 percent from 2.26 percent on an annual basis.
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