Public sector lender Dena Bank has announced a hike in interest rates of its fixed deposits by as much as 50 bps.

The new rates have come into effect from yesterday, May 16, 2011.

Deposits having tenor of 366 days to less than 2 years will have interest of 9.25% following the revision.

Interest would be 9.25% as against 8.75% earlier for deposits of 2 years to less than 3 years maturity.