Private sector lender, Federal Bank has increased interest rates on domestic fixed deposits.

Interest on deposits having tenor of 181 days to less than 1 year has been revised to 8.25%.

Rate of interest for deposits maturing from 1 year to less than 3 years is 8.60% and 8.75% for a period of 3 years and above.

Senior citizens will be facilitated with an additional 0.50% rise from the normal rates.

The rates come into effect from today, December 14, 2010.