Federal Bank has recently changed its FD rates. Whenever it comes to investment, the first thing that comes to mind is FD. In such a situation, Federal Bank's FD (Fixed Deposit) can also prove to be of great use to you, where you will get interest up to 7.9 percent. These FD rates will be applicable on investments less than Rs 3 crore. Let us tell you that the new FD rates of the bank have come into effect from 16 September 2024.

Federal Bank is offering interest ranging from 3 percent to 7.4 percent on FD. These interest rates are being given on FDs from 7 days to 5 years and above. The highest interest is being offered by the bank on FDs of 777 days and 50 months, which is 7.4 percent.

7.9 percent interest to senior citizens
The interest rates of FD for senior citizens from the bank range from 3.5 percent to 7.9 percent. This is for FDs from 7 days to 5 years and above. Senior citizens get the highest interest rate of 7.9% on FDs of 777 days and 50 months.

Keep these things in mind too.
If you withdraw money from your FD within 15 days, then you will not have to pay any penalty. However, if you withdraw money after 15 days before your FD matures, then you will have to pay a penalty of 1%.

In the case of Smart Deposits, if you withdraw money within 90 days, then you will not have to pay any charge. On the other hand, if you withdraw money after 90 days, then you will have to pay a penalty of 1%.