Federal Bank Savings Account Interest Rate & Minimum Balance 2025

Federal Bank offers a range of savings accounts with interest rates starting from 3% per annum and flexible minimum balance requirements. Whether you're looking for a zero-balance account or one that rewards higher balances with better rates, Federal Bank caters to diverse financial needs. Federal Bank savings accounts provide you with digital banking access, debit card benefits, and customised options for women, youth, and senior citizens.

What is a Federal Bank Savings Account?

A Federal Bank savings account is a secure deposit account that helps individuals grow their money while maintaining easy access to funds. It allows you to earn interest on your deposits and comes with features like ATM withdrawals, debit cards, internet and mobile banking, UPI services, and fund transfers.

Federal Bank offers multiple types of savings accounts tailored to specific needs—whether you are a student, salaried individual, homemaker, or senior citizen. Some accounts require a minimum balance, while others, like the BSBDA and Yuvamitra accounts, offer zero-balance facilities. With strong digital banking support and customer-friendly features, Federal Bank savings accounts are ideal for daily banking and long-term savings.

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:

Federal Bank offers a wide range of savings accounts with interest rates starting from 3% and going up to 7.5% for senior citizens. Customers can choose from zero-balance accounts, youth and women-focused plans, or premium options with added perks. Features like free NEFT/RTGS, digital passbooks, and reward points enhance the banking experience. It is important to stay updated with the latest interest rates for your chosen account.