Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
10 October, 2015 19:54 IST
Federal Bank hikes interest rates on resident, NRI deposits
Source: IRIS | 24 Dec, 2012, 02.00PM
Comments  |  Post Comment

Federal Bank, a private sector lender, has revised interest rates on rupee deposits from resident and non-resident customers. The bank has increased rate to 9% on maturity period of one year to three years.

The extant rate of interest on deposits of above 1 year to 3 years maturity bucket is 8.75%. For resident depositors, rate of interest for deposits has been increased in the 91 days to 119 days band to 7.50% from 7%.  

Revised rates of interest for resident customers for other maturity periods are as follows:

 Tenure  Interest Rate
 7 days to 45 days  5%
 46 days to 90 days  7%
 120 days to 180 days  7% 
 181 days to less than 1 year  8.50%
 Above 3 years  8.75%

Resident senior citizens are eligible for additional interest of 0.50%. For NRI Term Deposits, for maturities from one year to three years the rate offered is 9%.

Above three years the rate is 8.75%.  The above rates are effective from December 24, 2012.

Shares of the company gained Rs 4.05, or 0.78%, to trade at Rs 521.60. The total volume of shares traded was 13,777 at the BSE (1.22 p.m., Monday).

Federal Bank Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Related Articles
TCI board approves demerger of subsidiary - 09-Oct-2015 19:25
Tata Motors to invest USD 2 bn in Slovak Republic - 09-Oct-2015 19:01
Suprajit Engineering acquires balance 10.88% stake in Phoenix Lamps - 09-Oct-2015 16:56
Analysts see sequential rise in Infosys Q2 earnings - 09-Oct-2015 14:57
Unichem Labs gets USFDA nod for Montelukast Sodium tablets - 09-Oct-2015 14:56
IndusInd Bank Q2 profit climbs 30% - 09-Oct-2015 14:32
Aurobindo gets USFDA nod for Aripiprazole tablets - 09-Oct-2015 13:02
Cairn India's production rises 1% in H1FY16 - 09-Oct-2015 12:57
FIIs, DIIs reduce stake in Thermax in Sept quarter - 09-Oct-2015 12:38
Reliance Sec recommends 'Buy' on Persistent Systems; target Rs 875 - 09-Oct-2015 12:04
FIIs, DIIs raise stake in Crompton Greaves in September quarter - 09-Oct-2015 11:53
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer