Showing posts with the label 1000th Branch

Federal Bank to pay 10% Interest for 1000 days’ Deposits

On 17thof August 2012, Federal Bank will dedicate its 1000thBranch to the nation. In order to symbolize this milestone event in the growth history of the bank, the Bank has decided to give a special interest rate of10% for resident & non resident deposits of 1000 days’maturity as a goodwill gesture.This exclusive benefit will be available to the deposits opened during the limited period from July 30 till August 17, 2012.   Senior Citizens will get anadditional 0.50%interest over this rate.  NRIs will get tax-free return at a high yield of 10%. This gives investors an opportunity to earn high yield over the medium term of 1000 days that comes built with complete safety. 
About Federal Bank: Federal Bank is a leading Private Sector Bank with a branch network of 999 branches and 1,050 ATMs spread across the country. The Bank had total business of Rs. 86,693 crore as at March 31, 2012. It has Net Worth of Rs. 5,706 crore as at the end of fiscal 2011-12. It recorded net profit of Rs. 776…