Private sector lender Dhanlaxmi Bank has revised the interest rates on deposit schemes, giving its investors a chance to save more. The bank has increased the interest rates on fixed deposit schemes with an investment of less than 2 crores.
At the same time, the bank has offered senior citizens an additional interest rate on FD investment. Dhanlaxmi Bank gives customers the opportunity to invest on FDs ranging from 7 days to 10 years. According to the official website of the bank, the bank has offered a minimum interest rate of 3.25% to 7.25% on FD investment with maturity of 7 days to 10 years. Senior investors will be given the benefit of additional interest rate. The new rates are effective from 3 May 2023.
Dhanlaxmi Bank FD Interest Rates
- The bank will now pay an interest rate of 3.25% on FDs maturing in 7 to 14 days.
- Dhanlaxmi Bank will pay an interest rate of 5.75% on FDs maturing in 15 to 45 days.
- Will give an interest rate of 6.25% on deposits with a tenure of 91 days to 179 days.
- An interest rate of 6.00% is offered on FDs of 46 days to 90 days.
- Interest will be given at the rate of 6.50% on FDs maturing in 180 days or less than one year.
- FDs with a tenure of 1 year and more than 2 years will earn interest at the rate of 6.75%.
- 7.25 percent interest rate will be given on FDs maturing in 555 days (18 months and 7 days).
- 6.50% interest rate is offered for FDs above 2 years and up to 5 years.
Additional Interest Rate to Senior Citizens
Senior citizens are eligible for an additional interest rate of 0.50% per annum as per Dhanlaxmi Bank website. The bank said that except for Dhanam Tax Advantage Deposit Scheme, seniors will continue to get the benefit of additional interest rate on all domestic FDs of 1 year or more.
