Kerala-based Federal Bank today raised its interest rate offering on select deposit buckets by up to 0.50 per cent.
Under the revised slabs, the bank will pay 9 per cent per annum for a deposit of over one year, but under 3 years maturity, up from the earlier 8.75 per cent, it said in a statement.
Similarly, it has upped the rate of interest for the 91 days to 119 days maturity to 7.5 per cent from the 7 per cent earlier, it said.
The revised rates, effective from December 24, vary according to the maturities.
Under the new structure, the bank will pay 5 per cent per annum for a 7 days to 45 days tenure, 7 per cent for 46 days to 90 days bracket and 8.50 per cent for the 181 days to less than a year maturity, it said.
For rupee term deposits by non-resident Indians, the rates have been fixed at 9 per cent for the one to three year deposit and 8.75 per cent if the deposit is above 3 years, it said.