by NR INDRAN / INT

Federal Bank has hiked the interest rates on Non Resident Term Deposits. Revised rates of interest for NRE term deposits for 1 year to less than 2 years, 2 years to less than 3 years and 3 years and above would be 3.69%, 3.36% and 3.52% respectively.

For FCNR deposits in US Dollar, the revised rates for 1 year to less than 2 years, 2 years to less than 3 years, 3 years to less than 4 years, 4 years to less than 5 years and 5 years only are 2.19%, 1.86%, 2.02%, 2.30% and 2.62% respectively.

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