Lakshmi Vilas Bank Fixed Deposits Interest Rates

The services of Lakshmi Vilas Bank are now a part of the DBS Bank India Limited. With several accolades on its name, the DBS Bank India Limited is known for its quality services.
Lakshmi Vilas Bank offers several services to its customers, including fixed deposits and online banking services. A savings account for an FD can be opened directly at the bank or can be availed through Lakshmi Vilas Bank's official website. A fixed deposit allows the customers to gain fixed interests and benefits on their investment.

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Features:

Here is a list of some features of Laxmi Vilas Bank fixed deposits:

  • The interest rate on a regular savings account is calculated and is payable out in phased balances.
  • The deposit tenure can be anywhere from seven days to ten years.
  • Term deposit schemes can offer a steady flow of interest that is reliable and reasonable.
  • The minimum sum of money to be banked is hundred rupees. There is no particular maximum roof set for depositing money.
  • Accounts can be opened both individually and jointly.
  • Deposit accounts can be opened for minors by parents or guardians.
  • There are the facilities of availing for a loan and nominations.
  • Guaranteed quarterly or monthly form of income.

Lakshmi Vilas Bank Fixed Deposit Interest Rates 2021

Lakshmi Vilas Bank fixed deposit interest rates as per the deposit tenure is listed out as follows:

Tenure

General Fixed Deposit Rate p.a

Senior Citizens Fixed Deposit Rate p.a

7days to 15 days

4.00%

4.00%

15 days to 30 days

4.25%

4.25%

31 days to 45 days

4.75%

4.75%

46 days to 90 days

5.25%

5.25%

91 days to 120 days

5.75%

5.75%

121 days to 150 days

6.00%

6.00%

151 days to180 days

6.00%

6.00%

181 days to364 days

6.00%

6.50%

365 days to 399 days

6.50%

7.00%

400 days

6.75%

7.25%

401 days to less than 36 months

6.50%

7.00%

36 months to less than 60 months

6.25%

6.75%

60 months to 120 months

6.25%

6.75%

*Interest rates are subject to changes.

Balance (Indian rupees)

Rate of Interest

Up to 1 Lakh

3.25%

Above 1 to 2 Lakhs

3.50%

Above 2 to 5 Lakhs

3.50%

Above 5 to 10 Lakhs

3.75%

Above 10 to 20 Lakhs

3.50%

Above 20 to 50 Lakhs

3.25%

Above 50 lakhs to 5 Crores

3.75%

Above 5 Crores

3.75%

*Fixed Deposit Interest rates are subject to change.

Lakshmi Vilas Bank Fixed Deposit Rates: Things to Know!

Few points one must keep in mind while looking for Laxmi Vilas Bank fixed deposit rates are:

  • The Lakshmi Vilas Bank's fixed deposit interest rates can range from 3.25% to 6.75%. Senior citizens also can receive interest in the same return percentage range.
  • The deposit tenure and the deposited amount play a crucial role in determining the rate of returns.
  • Interest rates are subject to revisions according to the bank’s policies and terms and conditions.
  • Lakshmi Vilas Bank offers term deposits for NRIs through the deposits under the NRE, NRO, FCNR, and RFC concepts.
  • The interest will be payable for every quarter or is owed monthly after a discounted value.

Summing it Up

Lakshmi Vilas Bank offers a competitive rate of interest in their fixed deposit schemes. Customers can also use online services offered by the bank for a better banking experience and quick use. In the best interest of the customers, it is advised that they confirm with the banking institution regarding the fixed deposit and the interest rates before availing of the service.

Written By: PolicyBazaar - Updated: 12 August 2021
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