Federal Bank implemented new interest rate, get maximum interest rate up to 7.9% from December 16

There is good news for customers wishing to invest in the bank. Banks often change their fixed deposit interest rates from time to time. Investing in fixed deposits seems to be a safe investment for customers. Changes in fixed deposit interest rates have been announced by Federal Bank. The new interest rates will be applicable on amounts less than Rs 3 crore.

When is the new interest rate coming into effect?

Let us tell you that Nyaya interest rate has been implemented from December 16, 2024. The bank is offering interest rates ranging from 3% to 7.4% for fixed deposits of 7 days to 5 years and above. At the same time, the bank is offering the benefit of interest rate ranging from 3.5% to 7.9% for senior citizens i.e. citizens of 60 years of age and above.

Banks are offering 7.4% interest rate to general customers on a tenure of 777 days and 7.9% interest rate to senior citizens on the same tenure. There is no scope for any kind of risk in fixed deposits because it is not affected by market fluctuations.