Federal Bank and Dena Bank have raised their deposit rates with effect from December 22. Dena Bank has hiked the term deposit rate (up to Rs.15 lakh as well as above Rs.15 lakh and up to Rs.1 crore) on 365 days and above 1 year to less than two years — from 8.75 per cent to 9.10 per cent. Federal Bank has raised the interest rate on term deposits in the 91-119 days maturity from 7 per cent to 7.50 per cent and for above 1 year and up to 3 years from 8.75 per cent to 9 per cent.

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