Federal Bank raises deposit interest rate to 10.10%
Federal Bank revises interest on Resident Term Deposits. Bank is paying a rate of 10.10% for above one year to inclusive of two-year deposits. The benefits for senior citizens are extra.
The revised rate is given below:
Resident Term Deposits
Period Rate of Interest
Existing Rate Revised rate
7 to 14 days 4.50% 4.50%
15 to 30 days 5.00% 5.00%
31 to 45 days 5.00% 5.00%
46 to 90 days 5.50% 5.50%
91 to 180 days 7.00% 7.00%
181 to 270 days 8.50% 8.50%
271 days to less than 1 year 8.50% 8.50%
1 Year to inclusive of 2 years 9.75% 10.10%
Above 2 years to less than 3 years 9.75% 9.75%
3 years to less than 4 years 9.50% 9.75%
4 years to inclusive of 5 years 9.50% 9.75%
Above 5 years 9.25% 9.25%
The above revision will be effective from 18.08.2008.
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