NEWS & ADVICE : FIXED DEPOSITS
Federal Bank offers 10% interest on deposit scheme for residents and non-residents
By Neelima Shankar
Jul 31, 2012
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The private sector lender Federal Bank has launched a limited period special deposit scheme for residents and non-residents. The bank is offering 10 percent interest rate on fixed deposits having a maturity period of 1000 days, from 30 July to 17 August.

The Kochi headquartered bank issued a release according to which senior citizens will be offered an additional interest of 0.50 percent above this rate, and NRIs will get a tax free 10 percent interest rate.

The bank has dedicated this limited period special deposit scheme to its 1000th bank branch, which it will open on August 17.


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