Millionaire FSF

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Millionaire Federal Savings Fund

Millionaire Federal Savings Fund

Who doesn't want to be a millionaire ? Everyone does. This savings fund is a unique recurring deposit plan that lets you invest systematically over a period of time and makes you a millionaire on maturity.

  • Features
  • How much to remit ?
  • Investment Options
  • How to open ?
  • TDS
  • Any Resident or NRI customer can open the Millionaire FSF (Federal Savings Fund) deposit.
  • Monthly installments can be made to this deposit by transfer from your SB or SBNRE account.
  • Facility to register standing instruction from your existing SB or SBNRE account also.
  • Installments are made from a part of your savings, in small amounts and hence it will not disrupt your financial planning.
  • Loan facility against the balance in account
  • Freely Repatriable for NRI customers
  • Premature withdrawal allowed, no interest will be paid before completion of 1 year for NRE Deposits. 
 
 

Use our MFSF Interest calculator to find out the amount you need to pay per month based on the Monthly Deposit Amount,  Interest Rate and Term. Click to use MFSF Interest Calculator

For investment options of Millionaire Deposits, please click here.

There are no hassles to open Millionaire Federal Savings Fund. If you are using FedNet, our Internet Banking facility, you can open Millionaire Federal Savings Fund deposit online right away.  
Alternatively, you can:

 

 

Tax Deduction at Source (TDS) for Resident  Recurring Deposits

From June 1, 2015, Tax Deduction at Source (TDS) will be applicable on interest paid/ accrued on Resident Recurring Deposits. Deposit holder may claim exemption from TDS by submitting Form 15G / 15H (other than company, firm or co-operative society)/ Exemption Certificate under Section 197 (in case of all holders)/ or any other Tax Exemption Certificate with the Bank, subject to eligibility.. Such form or tax exemption certificate has to be submitted every financial year for each recurring deposit held with the Bank.

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4.6
The average rating is 5 stars out of 5.
38 total
5 28 
4 5 
3 4 
2 1 
1 0 

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Lalumon
Jun 05, 2020

The average rating is 5 stars out of 5.

Good
HARIDAS V G
Jun 05, 2020

The average rating is 5 stars out of 5.

Samji Abraham
Jun 05, 2020

The average rating is 5 stars out of 5.

Aswin R Krishnan
Jun 05, 2020

The average rating is 5 stars out of 5.

Wonderful product.
ARUN
Jun 05, 2020

The average rating is 5 stars out of 5.

Recurring deposit for who wish to become a millionaire ..
A.Venugopalan
Jun 11, 2018

The average rating is 5 stars out of 5.

Very good investment scheme
RAHUL K NAIR
May 31, 2018

The average rating is 5 stars out of 5.

Easy way to become a Millionaire
Vishnu Velappan
Dec 01, 2017

The average rating is 5 stars out of 5.

I hope its nice scheme
Gopakumar S
Nov 30, 2017

The average rating is 4 stars out of 5.

MANOJ KUMAR MADAKKARA
Nov 30, 2017

The average rating is 5 stars out of 5.

Very Good Scheme, Thank you
SAHAD
Aug 16, 2017

The average rating is 5 stars out of 5.

Easy way to become a millionaire
Varun
May 30, 2017

The average rating is 5 stars out of 5.

Very good investment plan.
Rajesh Achuthan Nair
Apr 09, 2017

The average rating is 5 stars out of 5.

Excellent scheme. I have already 2 Nos. I am planning to join one more in the coming year after finishing one among the two. Such a good scheme.
manoj
Apr 04, 2017

The average rating is 5 stars out of 5.

good investment for future
Saravanababu.M
Mar 09, 2017

The average rating is 5 stars out of 5.

Best deposit scheme, i have investing since 2012 and no other banks are not having this scheme for NRI
uday
Mar 05, 2017

The average rating is 2 stars out of 5.

Good Scheme. but the Compounded Average gross margin comes to only 4% per month. Same amount if invested on monthly basis with auto renewal in FD yeilds better returns. Besides, it also breaks the FD in small amount which is easy to withdraw then break FSF. Fed management need to review this. UK
Ganapathy Rajendran
Feb 04, 2017

The average rating is 5 stars out of 5.

Easy way to become a millionaire
Raghuraman Thalapan
Nov 07, 2016

The average rating is 5 stars out of 5.

best deposit scheme i have interest in this deposit scheme
Nazeer M Thaha
Oct 04, 2016

The average rating is 4 stars out of 5.

The Right Way to Save Our Money. Saving & planning for your future. No matter your age or life situation, putting a savings plan in place is essential for your financial well-being.
sunimon chacko
Sep 12, 2016

The average rating is 3 stars out of 5.

sunimon chacko
Sep 12, 2016

The average rating is 3 stars out of 5.

sibin
Jul 06, 2016

The average rating is 5 stars out of 5.

Best deposit scheme, Thanks Fed. 3 years before i opened that and 3 months back i got 10 Lac,
VENU
May 27, 2016

The average rating is 5 stars out of 5.

Best savings plan for meeting my future needs. It will be helpful for me to meet my childrens education expenses.
NEBU MATHEW
Apr 18, 2016

The average rating is 3 stars out of 5.

Guys, anyone know how Tax Deducted at Source ( TDS ) is applicable on this multimillionaire reccuring deposit?...
HENTY JOSEPH
Mar 05, 2016

The average rating is 5 stars out of 5.

Best Saving scheme
Githu Babu
Feb 11, 2016

The average rating is 4 stars out of 5.

Its one of the best options for NRIs who wants the money to be saved from unwanted expense as these are commitments. Also as the interest rates are getting lower its the best way to lock your maximum interest available for a longer tenure.
MOHAMMED HANEEFA KALLADA
Jan 13, 2016

The average rating is 5 stars out of 5.

How long deposit /10 yr/15 yr
Gopidasan S Nair
Jan 09, 2016

The average rating is 5 stars out of 5.

Best Saving Scheme for NRI on a short term. I am compelling my friends to join as well to have a best saving during our NRI time. This will help us to avoid any cheating Chitties, specially the NRI's are involving to make the money fast.
Vijay .P.k - Kuwait
Jan 03, 2016

The average rating is 5 stars out of 5.

Best Saving scheme , also my friends jointed very good scheme.
Ajo Malathusseril
Dec 08, 2015

The average rating is 4 stars out of 5.

Its very good scheme because each deduction goes to the interest of fixed deposit and the advantage is in case if we want to withdrew the money we can do it with loss.. and this worth than Local chit-funds (Chittys) in the base of returns and safety point of view