Federal Bank Fixed Deposit

About Federal Bank Fixed Deposit

Federal Bank Fixed Deposit offers you deposits that earn handsome returns by way of interest. Customers prefer ‘Safety, Liquidity and Return’ as their top most criteria for choosing their Bank. As a result, Federal Bank is very much transparent in communicating the rates and charges on their bank deposits.

Domestic Fixed Deposit Interest Rates

PeriodLess than ₹1 Crore
(w.e.f. 17.07.2017)
7 days to 14 days3.50%
15 days to 29 days4.50%
30 days to 60 days5.00%
61 days to 90 days5.70%
91 days to 119 days6.00%
120 days to 270 days6.25%
271 days to less than 1 year6.50%
1 year 6.70%
Above 1 year to 2 years6.60%
Above 2 years to 1110 days6.50%
1111 days7.00%
1112 days & above6.50%

Federal Bank  Fixed Deposit Schemes

1. Cash Certificate

Cash Certificate is a growth oriented scheme which offers higher returns. You can put your hard earned money in this attractive investment scheme which has the potential of doubling in the shortest span, with zero percent gambling.

Features of Cash Certificate

  • Minimum deposit amount for Cash certificate is only ₹1000/-
  • No maximum amount for Cash certificate
  • Interest will be quarterly compounded and reinvested. You cannot withdraw the interest before maturity of the deposit.
  • Interest and principal amount will be credited to your Federal Bank Savings account directly on the due date of the deposit.
  • Automatic renewal facility is available for Cash Certificates
  • Availability of nomination facility
  • Loan facility is available against Cash certificates up to 90% of deposit amount.

Period: The minimum deposit period of Cash Certificate is of 6 months and 10 years for maximum deposit period.

2. Federal Tax Savings Deposit

Do you want to save income tax? Federal Tax Savings Deposit is a fixed deposit scheme which you can look for which is convenient and risk-free option for you.

Features of Tax Savings Deposit

  • Minimum deposit amount for Federal Tax Savings Deposit is only ₹100/- and additional amount in multiples of ₹100/-
  • Maximum amount of Federal Tax Savings Deposit is ₹1,50,000.
  • Tax benefits under Sec. 80 C of the Income Tax Act is permissible. In the case of joint accounts, tax benefits are applicable on the first account holder.
  • Premature withdrawal of tax savings deposit is not allowed. Deposits have a lock-in period of 5 years and you can withdraw the amount only after 5 years.
  • Loan facility is not permissible in the case of Tax savings deposit.
  • Interest rates: Please visit Federal Bank Website
  • Submission of a copy of PAN card is compulsory for opening Tax Savings Deposit

Maturity Value

Maturity value will be calculated at the applicable rate of interest, compounded at quarterly intervals and based on the incidence of TDS on periodic interest.

Period

The fixed period of tax savings deposit is for 5 years. The lock-in period of such deposit is of 5 years.

Transfer of Deposit

  • Deposits made under this scheme may be transferred from one branch of the bank to another branch at the request of the depositor.
  • Deposits in this scheme shall not be transferred from one bank to another bank

Proof of Investment

On the request of the depositor, a certificate will be issued for producing before tax authorities

TDS & PAN

  • In the case of Federal Tax Saving Deposits, applicable TDS will be subtracted from the interest credited to operative account/ term deposit periodically.
  • PAN number of the customer shall be compulsorily updated in bank accounts.
  • You may visit your Federal Bank branch with your PAN card (original & copy) for getting the same updated on the bank accounts.
  • You may also apply for PAN through Federal Bank Branches.

Fixed Deposit Calculator

You must be curious to know how much returns you have earned on the basis of your Deposit Amount, Rate of Interest and Deposit Period. Fill the details in Federal Bank Fixed Deposit Calculator and get your result.

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