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Federal Bank Recently Launched 'Annuity Deposit' for Resident Customers.

Banking & Finance | Dated: 03 Mar 2025

Aluva (Kerala)-based Federal Bank Limited, one of India's leading private sector banks, recently launched a new term deposit product, "Annuity Deposit," specifically designed for resident customers, offering stable income for a period ranging from 5 to 20 years.

🎯 Key Highlights:

  • - Customers have the flexibility to select their preferred payout frequency: monthly, quarterly, half-yearly, or annually, with each payout consisting of both principal and interest earned.

💡 Other Important Facts:

  • (i) The product was recently launched by Shalini Warrier, Executive Director (ED), Federal Bank.
  • (ii) To open an annuity deposit, the minimum investment required is Rs. 15 lakh, while the maximum investment limit is Rs. 2 crore.
  • (iii) The product is designed for customers seeking a reliable, pension-like income over an extended period, with the flexibility to prematurely close their accounts in case of emergencies.

📚 Test Your Knowledge:

Which bank recently launched the 'Annuity Deposit' for resident customers?

Correct Answer: Federal Bank

🚀 Quick Recap:

About Federal Bank

  • CEO : Krishnan Manian
  • Headquarters: Aluva