Bank FD Rates: 15-month FD offers 7.10% return; this private bank revises interest rates
Another private bank has revised its fixed deposit interest rates. Senior citizens are now earning 7% or more returns on various tenures. Let’s find out how much interest will be earned on investments for how long? Bank FD Rates: Private sector bank Federal Bank has joined the list of banks that revised their fixed deposit interest rates (Bank FD Rates) in November. The bank has revised the interest rate on resident term deposits. The new rates have also been implemented for FDs of less than ₹3 crore. Even after the revision, the bank is offering an additional 50 bps interest rate to senior citizens. General citizens receive a minimum interest rate of 3% and a maximum of 6.70%. Interest rates for senior citizens range from 3.50% to 7.20%. Anyone can open an FD account with an investment of just ₹1,000. The bank also offers automatic renewal, allowing for premature withdrawal, and nomination. Furthermore, the bank offers loans for certain tenures. The highest interest rate w...