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    Federal Bank not to jump into savings rate hike war

    Instead of jumping into the rate hike war, Kerala-based Federal Bank is in no hurry to increase its savings deposit rates. Rather, they may be planning to improve customers' service. This is despite the fact that its peer banks already upped savings deposit rates by 150-200 basis points.

    November 04, 2011 / 17:09 IST

    Moneycontrol Bureau

    Kerala-based Federal Bank is no mood to jump into the ongoing savings deposit rate hike war in banks. Instead, it plans on engaging competition by improving its customer services.

    Many major banks including Kotak Mahindra Bank, Yes Bank and IndusInd Bank have upped their savings deposit rates by 150-200 basis points, immediately after RBI announced savings rate de-regulations.

    first published: Nov 3, 2011 02:20 pm

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