Business   

Federal Bank raises interest rates

KOCHI: The Federal Bank has hiked interest rates for NRE term deposits and FCNR deposits by 0.50 per cent.

The revised rate of interest for NRE term deposit for one to two years is 3.71 per cent.

It will be 3.81 per cent for two to three years and 4.13 per cent for three years and above.

The bank has also revised the interest on resident term deposits for one-year term. The bank is paying a rate of 10.6 per cent for deposits for a period of one year.

The benefits for senior citizens are extra, according to a press release issued by the bank.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

A stitch in time saves nine
BFSI meltdown calls for new steps
Coming to terms with new realities financial scene
Nature of risks taken
A trip down memory lane
A few on-line aids to research netspeak
Failure to honour declaration in Form 15G/15H
Tax deduction at source on NRI deposits
Banking matters
Ayurveda cluster project gets Central approval
Federal Bank raises interest rates

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu