Repco Bank, a government bank under ministry of home affairs has announced hike in interest rates of fixed deposits across selected maturities.

The revised rates have come into effect from February 7, 2011.

According to Mr. J. Gireesh Kumar, Chief Manager of the Thiruvananthapuram branch of Repco Bank, the interest rate has been raised for 15 month deposit to 10.5% for general citizens and 11% for senior citizens.

Also interest rate has been hiked for the 181 days to 364 days deposit which will now fetch the depositor an interest of 10.10%, said Kumar.