Mumbai: Federal Bank has hiked the rate of interest on both-- resident as well as NRE term deposits for a period of 1 year to 10 percent effective from April 3, a statement issued here said.
   
The rates of interest for resident deposits of other maturity periods has been fixed at for 7 days to 45 days - 5.00 percent, 46 days to 180 days - 7.00 percent, 181 days to 199 days - 8.50 percent, 200 days - 9.50 percent, 201 days to less than 1 year - 8.50 percent, above 1 year to less than 3 years - 9.50 percent and 3 years and above - 9.25 percent.
   
The rate of interest for NRE term deposits for a period of 1 year to less than 3 years is 9.50 percent and for a period of 3 years and above is 9.25 percent.
   
Senior citizens are eligible for additional interest of 0.50 percent on resident term deposits.

(Agencies)