Dhanlaxmi Bank RD Interest Rates

What is Dhanlaxmi Bank Recurring Deposit?

Dhanlaxmi Bank Recurring Deposit (RD) is a savings scheme where people save by making monthly deposits within a stipulated tenure at a specified RD interest rate. It is suitable for customers who want to get consistent and predictable returns without being subjected to market fluctuations.

It is affordable to the regular investor because the customer can begin with a minimum monthly instalment of ₹1000, and additional deposits in multiples of ₹500. The tenure is typically 1 year to 10 years, which offers flexibility to achieve both the short-term and long-term financial goals.

Dhanlaxmi Bank RD Interest Rates

The interest rates offered by Dhanlaxmi Bank RD across different tenures are outlined below:

*Dhanlaxmi Bank RD Interest Rates w.e.f. March 26, 2026

Key Features of Dhanlaxmi Bank RD

The following features make Dhanlaxmi Bank RD a reliable savings option:

• Loan Against RD: Customers can avail a Dhanlaxmi Bank loan against RD of up to 90% of the balance at around 1% above the RD rate, ensuring liquidity without closing the deposit.
• Premature Withdrawal Facility: Dhanlaxmi Bank RD premature withdrawal is allowed; no interest is paid if closed within 12 months. After 12 months, interest is paid for the actual tenure, subject to a 1% penalty.
• Nomination Facility: Customers can nominate a beneficiary for the smooth transfer of funds in unforeseen situations.
• Penalty on Late Instalments: There is a nominal penalty on late or missed instalments which will enforce disciplined savings.
• Tax Deducted at Source (TDS): The interest earned is subject to TDS provided it surpasses the stipulated limit in accordance to the provisions of income tax.
• Digital Access & RD Calculator: Customers have an option to operate RD accounts online and use RD calculator to compute the maturity value and structure savings.

How to Open a Dhanlaxmi Bank Recurring Deposit

Opening an RD with Dhanlaxmi Bank is simple and can be done both online and offline.

Online Method

Customers can open an RD conveniently through digital banking:

• Log in: Access Net Banking or Mobile Banking
• Navigate: Go to the deposits section
• Select RD: Choose “Open Recurring Deposit”
• Enter Details: Add the instalment amount and tenure
• Set Auto-Debit: Link your account for automatic payments
• Confirm: Review details and activate instantly

Offline Method

Customers can also open an RD by visiting a branch:

• Visit Branch: Go to the nearest Dhanlaxmi Bank branch
• Request Form: Ask for the RD application form
• Fill Details: Enter personal and deposit information
• Submit KYC: Provide the required documents
• Choose Mode: Select auto-debit or manual payment
• Deposit Instalment: Pay the first instalment

Eligibility Criteria for Dhanlaxmi Bank RD

Dhanlaxmi Bank RD accounts are available to a wide range of applicants, subject to standard banking norms:

• Existing Savings Account Requirement: Applicants generally need a Dhanlaxmi Bank savings account to open and maintain an RD.
• Resident Individuals: Salaried and self-employed individuals with valid KYC documents are eligible.
• Minors: Minors can open RD accounts under the supervision of a parent or a guardian.
• Joint Account Holders: Joint RD accounts may be opened with operating instructions that are flexible, like either-or-survivor.
• HUFs, Firms & Institutions: According to the bank policies, business entities like HUFs, companies and trusts are also eligible.
• NRIs (NRE/NRO Accounts): NRIs are allowed to open RD accounts either in NRE or NRO accounts as per the guidelines of RBI.

Key Takeaways

Dhanlaxmi Bank RD provides interest rates up to 7.00% per annum for general customers and up to 7.50% per annum for senior citizens with flexible tenure between 1 year and 10 years with a monthly deposit of ₹1000. It promotes discipline savings that are guaranteed to yield returns, liquidity through loans and convenient management of the accounts online.