Pursuant to change in ceiling rates announced by RBI on May 4, 2012, Federal Bank has enhanced interest rates for FCNR deposits.
The revised rates for FCNR deposits in US Dollar are as follows:
Rate of interest (Existing)
1 year to less than 2 years
2 years to less than 3 years
3 years to less than 4 years
4 years to less than 5 years
5 years only
Similarly, the rates have been revised upwards for all other currencies viz. British Pound, Euro, Yen, Canadian Dollar, Australian dollar and Swiss Franc.
The above rates are effective from 07th May 2012.