Federal Bank Savings Account Interest Rate & Minimum Balance 2025

Federal Bank offers a diverse range of savings accounts designed to meet various financial needs, with flexible balance requirements and tailored benefits. Whether you prefer a zero-balance account or one that rewards higher balances, there’s an option for everyone. Enjoy seamless digital banking, debit card privileges, and specialised accounts for women, youth, and senior citizens.

Key Highlights

• Interest rates range from 2.50% to 6.05% depending on account balance.
• The minimum balance requirements vary across different types of savings accounts.
• No special interest rates on savings accounts are offered to senior citizens.

What is a Federal Bank Savings Account?

Federal Bank savings accounts offer a secure way to grow your money with interest, easy access to funds, and features like ATM withdrawals, debit cards, internet/mobile banking, UPI, and fund transfers. With options tailored for students, salaried individuals, homemakers, and seniors, including zero-balance accounts like BSBDA and Yuvamitra, these accounts combine convenience with strong digital support for everyday and long-term banking needs.

Types of Savings Accounts in Federal Bank

Given below are all the types of Federal Bank savings account:

How Much Minimum Balance is Required in Federal Bank?

Here is a list of Federal Bank savings account types and the minimum balance required for account opening:

Features and Benefits of Federal Bank Savings Account

Here are the features of different types of savings bank accounts in the Federal Bank:

What is a Federal Bank Savings Account?

Given below are two ways to open a Federal Bank Savings Account:

Via the Official Website

• Visit the Federal Bank website.
• Navigate to the 'Personal' section and select 'Savings Accounts'.
• Choose the type of savings account you wish to open and click on 'Apply Now'.
• Fill in the online application form with the required details.
• Review and submit the application.
• Complete the Know Your Customer (KYC) process by uploading the necessary documents.
• Deposit the minimum required amount, if applicable.
• Upon successful verification, your account will be activated, and you'll receive the account details. ​

Via the FedMobile App

• Download and install the FedMobile app on your smartphone.
• Open the app and select the option to open a new savings account.
• Provide your Aadhaar and PAN details for e-KYC verification.
• Fill in the necessary personal information as prompted.
• Submit the application and await verification.
• Once verified, your account will be activated, and you'll receive the account details.

Federal Bank Savings Account Interest Rate 2025

Here is a table that lists the interest rate for a savings bank account in the Federal Bank:

Federal Bank Savings Account Interest Rate for Senior Citizens

Federal Bank does not offer additional interest rates specifically for senior citizens on its standard savings accounts. The interest rates for savings accounts are uniform across all customer categories, including senior citizens. These rates are calculated daily based on the end-of-day balance and credited quarterly.​

Penalty for Not Maintaining Minimum Balance in Federal Bank Savings Account

Federal Bank charges a penalty for non-maintenance of the stipulated minimum balance. The greater your shortfall level, the higher your charges will be:

Final Word

Federal Bank offers a variety of savings accounts to suit different needs, from zero-balance and youth-oriented plans to premium options with added benefits. With features like free NEFT/RTGS transfers, digital passbooks, and reward points, customers enjoy a seamless and rewarding banking experience. Staying informed about the latest interest rates ensures you make the most of your chosen account.