Federal Bank hikes interest rates on fixed deposits

MUMBAI: South-based Federal Bank today hiked interest rates on fixed deposits by up to 0.25 percent based on maturity.

Under the revised rates applicable from January 17, a deposit for above two years but less than three years will fetch an interest of 9.50 percent per annum as compared to the earlier 9.25 percent.

Similarly, a deposit for five years and above will earn the depositor a rate of 9.25 percent per annum, it said in a statement issued here.

Source: EconomicTimes