Federal Bank increases interest rates on fixed deposits, effective Dec 18

Federal Bank says deposits with maturities between 18 months and two years will earn a maximum interest rate of 7.75 per cent from December 18 onwards

The increased interest rates for fixed deposits below Rs 2 crore at the Federal Bank are now effective, reported LiveMint.
 

The publication cited an update from the lender to say that the bank is now giving interest rates between 3 per cent and 6.30 per cent on deposits maturing in seven days to 2,223 days for the general public. For senior citizens, the rates vary from 3.50-6.95 per cent.

Deposits with maturities between 18 months and two years will now earn a maximum interest rate of 7.25 per cent for the general public and 7.75 per cent for senior citizens.

Similarly,