For 400 days tenure, Federal Bank revises deposit rate up to 8.15% for senior citizens

Mumbai, Oct 20 Federal Bank has introduced special interest rates for deposits, in celebration of Founder’s Day and the festive season. Special rates are applicable for 400 days and the highest rate offered is 8.15%.

As seen in the table, the Bank is offering 8.15% for Senior Citizens for a Term Deposit that is non-withdrawable before maturity for 400 days tenure and 7.65% for general public under the same scheme. The rates for such deposits for a tenure between 13 months and 21 months (excluding 400 days) are 8.05% and 7.55% for senior citizens and general public respectively. Senior citizens are citizens aged above 60 years and they can enjoy a higher rate for deposits that are withdrawable before maturity at 7.90% for 400 days and 7.80% for tenure between 13 months and 21 months (excluding 400 days).

These special rates are designed to provide an extra edge to depositors during this festive season. Federal Bank, in its commitment to customer-centric offerings, presents these enhanced rates as a token of appreciation during the Founder’s Day celebration.