Federal Bank has hiked the rate of interest on both - resident as well as NRE term deposits for a period of 1 year to 10% effective from April 3, a statement said.
The rates of interest for resident deposits of other maturity periods has been fixed at for 7 days to 45 days - 5.00%, 46 days to 180 days - 7.00%, 181 days to 199 days - 8.50%, 200 days - 9.50%, 201 days to less than 1 year - 8.50%, above 1 year to less than 3 years - 9.50% and 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.
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The rates of interest for resident deposits of other maturity periods has been fixed at for 7 days to 45 days - 5.00%, 46 days to 180 days - 7.00%, 181 days to 199 days - 8.50%, 200 days - 9.50%, 201 days to less than 1 year - 8.50%, above 1 year to less than 3 years - 9.50% and 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.
....more info