Federal Bank has hikedthe interest rates on Resident as well as Non Resident Term Deposits. Theinterest rates of resident term deposits for a period of 2 years to less than 3years has been increased from 9.25% to 9.50% while the rate for deposits of 5years and above has been increased from 9.00% to 9.25%.
The revised rates of interest on NRE term deposits are asfollows: 1 year to less than 3 years 9.50 %, 3 years and above 9.25%.
The other rates for resident term deposits are given below:
|
Period |
Rate of Interest |
|
7 days to 45 days |
5.00% |
|
46 days 180 days |
7.00% |
|
181 days to 199 days |
8.50% |
|
200 days |
9.50% |
|
201 days to less than 1 year |
8.50% |
|
1 year only |
9.75% |
|
Above 1 year to less than 2 years |
9.50% |
|
3 years to less than 5 years |
9.25% |
The hiked rates are applicable from 17.01.2012.