Fixed Deposit Details
Bank Name
Federal Bank
Eligibility
Individuals Hindu Undivided Family Trust Partnership Firm Body Corporate
Interest Rate
6.60% per annum.
Tenure
5 years
Fixed Deposit Type
Tax Saver
Federal Tax Savings Deposit
Tax Benefits
Tax benefits under Sec. 80 C of the Income Tax Act is applicable.
Credit Ratings
CRISIL AA+
Interest Payment Frequency
At maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit
Cummulative/Non-Cummulative
Cumulative
Features
- Minimum deposit amount of Rs 100.
- The maximum amount of Federal Tax Savings Deposit is Rs. 1,50,000.
- Loan facility is not available in the case of Tax savings deposit.
- Tax exemption under section 80C of the Income Tax Act, 1961.
Minimum Investment Amount
100
Features & Benefits
Pros
- Tax exemption under Section 80C of the Income Tax Act, 1961.
- The minimum deposit amount is Rs 100 only.
Cons
- There is no loan facility against the deposit.
- The maximum tenure of this scheme is 5 years.
- Premature withdrawal of this deposit is not allowed.
Pros & Cons
How to Open?
Please visit your branch to open the deposit.
Open Federal tax saving deposit through FedNet or our mobile banking application FedMobile .
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T10:59:07Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
