Federal Bank hikes interest rates on NRE deposits

Kochi, Nov 17: Kerala-based Federal Bank has hiked interest rates for NRE term deposits and FCNR deposits by 0.75 per cent.

Revised rate of interest for NRE term deposits for one to two years is 4.92 per cent, two years to three years 4.41 per cent and three years and above 4.89 per cent.

For FCNR deposits in US Dollar, GBP, EURO, YEN, CAD and AUD the Bank had hiked interest rates by 0.75 per cent across all maturities, according to a bank release.

The revised rates came into effect from yesterday.

UNI