Federal bank hikes deposit rates

Also raised NRE term deposits for three years and above by 25 bps to 9%

Federal Bank has increased interest rates on domestic and non-resident deposits from today.

The private lender has hiked domestic term deposit rate by 150 basis points and will now pay 8.50% on these deposits maturing in 60 days to 119 days.

It has also raised NRE term deposits for three years and above by 25 basis points to 9%.