The Federal Bank has revised the interest rates for both resident and non-resident deposits with effect from January 17, 2024. According to a statement, the interest rate has been increased to 7.75 per cent for 500 days and 8.25 per cent for resident senior citizens.

“The interest rate on non-withdrawable fixed deposits for a tenure of 500 days has been increased to 7.90 per cent and for resident senior citizens, Federal Bank will now offer interest rates of 8.40 per cent for a tenure of 500 days,” the private sector lender said in a statement. Giving maximum returns.” ,