April 03, 2012: Federal Bank has hiked the rate of interest on both Resident and NRE Term deposits for a period of 1 year to 10%.
The rates of interest for resident deposits of other maturity periods are as follows: 7 days to 45 days - 5.00%, 46 days to 180 days - 7.00%, 181days to 199 days - 8.50%, 200 days - 9.50%, 201 days to less than 1 year - 8.50%, above1 year to less than 3 years - 9.50%, 3 years and above - 9.25%.
The rate of interest for NRE Term Deposits for a period of 1 year to less than 3 years is 9.50% and for a period of 3 years and above is 9.25%.
Senior Citizens are eligible for additional interest of 0.50% on resident term deposits.
The above rates are effective from 03.04.2012.
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