Federal Bank Senior Citizen RD Interest Rates

What is the Federal Bank Senior Citizen RD?

Federal Bank has a special recurring deposit (RD) for senior citizens aged 60 and above. It's a convenient way to save where you put in a small amount of money each month and build your savings. The most important aspect is that you earn more interest than with a regular RD account. With assured RD interest rates, it's a suitable way to steadily grow your savings. The tenure ranges from a minimum of 6 months to 10 years.

Federal Bank RD Rates for Senior Citizens

Stated below are the RD interest rates across various time spans, offering better returns for senior citizens:

*Federal Bank senior citizen RD interest rates w.e.f. 12th March 2026.

Key Features of Federal Bank Senior Citizens RD

Federal Bank provides important features that help you earn consistent and stable returns.

• Low Minimum Investment: You can easily start investing with ₹50 a month. There's no upper limit, so you can invest as much as you want to grow your savings even more.
• Loan/overdraft facility: Each month, the instalment is automatically deducted from your savings account, making investing easy and regular. Federal bank loan against RD generally allows borrowing of up to 90% of the RD balance while receiving interest.
• Premature withdrawal: The Federal Bank RD premature withdrawal facility also enables customers to access their RD before it matures. Interest is recalculated at a reduced rate based on the actual deposit period, and penalties may still apply.
• Easy Monthly Payment Options: You can pay your RD instalments through:
• Auto-debit: Set up a standing instruction from your Federal Bank savings account.
• NACH (National Automated Clearing House) Mandate: If your savings account is with another bank, you can enable automatic deductions through NACH for hassle-free payments.

How to Open a Federal Bank Senior Citizens RD

It is easy to open a Federal Bank Senior Citizen RD both online and offline, whichever is convenient for you.

Online Method

You can use these easy steps to open your RD online:

• Download the App: Download and open the FedMobile app on your mobile device.
• Log In: Sign in with your registered mobile number or banking credentials.
• Go to Investments Section: Look for the ‘Investments’ tab on the main screen.
• Select RD Option: Choose ‘Bank Deposit’ and select ‘Recurring Deposit’.
• Enter Deposit Details: Enter the monthly sum, select the scheme, and choose an appropriate tenure.
• Set Debit Details: Choose your debit account and decide the monthly instalment date.
• Review and Confirm: Verify all information and approve the request.
• Complete Authentication: Enter your mPIN to start your RD immediately.

You may open an RD through the bank’s virtual assistant FEDDY, as it is available on platforms like WhatsApp, Alexa, and Google Assistant.

Offline Method

The Federal Bank Senior Citizen RD may also be opened at a branch:

• Visit the Bank Office: Visit the closest branch of Federal Bank in your locality.
• Request RD Application Form: Ask the Recurring Deposit form from the bank representative.
• Fill Banking Form: Enter the deposit amount, tenure, and account information.
• Provide KYC and Age Documents: Present a valid ID and proof of age to access senior citizen rates.
• Decide Instalment Method: Confirm your monthly deposit and select how you wish to pay.
• Send and Open RD: Once submitted, the bank will handle your request to start the RD.

Federal Bank Senior Citizen RD Eligibility Criteria

Federal Bank RD includes a clear eligibility procedure to secure a simple account opening process. It's important to adhere to the guidelines.

• Age requirement: The applicant must be a senior citizen aged 60 years or above to avail senior citizen RD benefits.
• Eligible account holders: This account can also be opened by a senior citizen alone or together with another, when the main holder remains a senior citizen.
• KYC compliance: Applicants must fulfil KYC obligations with valid documents like PAN, Aadhaar, address proof, etc.
• Minor accounts (not applicable for senior benefits): RD accounts can be opened for minors via guardians, but senior citizen benefits apply only if the depositor is above the age of 60.

Key Takeaways

Federal Bank Senior Citizen RD gives interest rates ranging from 5.00% to 7.25% p.a., ensuring reliable and better returns compared to normal RDs. You can begin with ₹50 per month and opt for a tenure from 6 months to 10 years. It also gives loans up to 90% of the deposit and allows early withdrawal, providing both flexibility and easy access to funds.