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24 September, 2014 07:53 IST
News
Federal Bank hikes interest rates on resident, NRI deposits
Source: IRIS (24-DEC-12)
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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)*


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* Q - Quote , N - News , C - Chart , F - Financials
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