Federal Bank Hikes FD Rates: The country’s largest private sector bank Federal Bank has increased its fixed deposit rates (Federal Bank FD Rates). The bank has increased the FD rates of less than Rs 2 crore (FD Rates Hike). The bank has implemented the new rates on 17 August 2022. Explain that the bank is offering interest rates ranging from 3.00% to 6.10% on FDs of 7 days to 75 weeks to ordinary citizens. At the same time, it is offering interest rates ranging from 3.50% to 6.75% on FDs of less than 2 crores to senior citizens. If you are also a bank account holder and planning to do a fixed deposit (Federal Bank FD Rates Hike), we are giving you information about the latest rates of Federal Bank (Federal Bank Latest FD Rates)-
Ordinary citizens get this interest rate on FD of less than 2 crores-
- 7-29 days-3.00%
- 30-45 days-3.25%
- 46-60 days-3.75%
- 61-90 days-4.00%
- 91-119 days-4.10%
- 120-180 days-4.25%
- 181-332 days-4.80%
- 333 days-5.45%
- 334 – Below 1 year – 4.80%
- 1 year-5.45%
- 1-20 months-5.60%
- 20 months-5.90%
- 20 months to 2 years -5.60%
- 2 years to 749 days-5.75%
- 750 days-6.10%
- 751 to 5 years-5.75%
- 5 years-2221 days-5.75%
- 2222 days-6.00%
- 2223 days-75 months-5.75%
- 75 months-6.10%
- 75 months-5.75%
hike in repo rate
Let us tell you that in the last 4 months, RBI has increased the repo rate 3 times. In the recent RBI review meeting, the Reserve Bank has increased the interest rate by 0.50% to control inflation. Now the repo rate of RBI is 5.40%. Since the increase in the repo rate of RBI, many banks have increased their FD and savings account interest rates continuously. Along with this, the loan burden has also increased continuously. Now customers have to pay more EMI for homes.
These banks increased FD rates
Recently many big banks like State Bank of India, Punjab National Bank, Indian Overseas Bank, Kotak Mahindra Bank, Axis Bank Many banks, IndusInd Bank etc. have increased their FD and savings bank account interest rates.
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