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Federal Bank to offer special deposit scheme

31 Jul 2012 Evaluate

Federal Bank, a Kerala-based private sector bank is planning to provide special rate of 10% for resident and non-resident deposits of 1,000 days’ maturity. The bank is going to offer this rate for a limited period only that is between July 30 and August 17.

The bank will offer an additional interest of 0.50% points over this rate for senior citizens and NRIs a tax-free yield of 10%. The bank is likely to introduce its 1000th branch in the country on August 17, 2012.

Peers
Company Name CMP
HDFC Bank 684.45
ICICI Bank 1378.95
Axis Bank 1224.10
Kotak Mahindra Bank 450.55
Indusind Bank 853.95
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