Dhanlaxmi Bank has increased the interest rates on its fixed deposits (FDs) of less than Rs 2 crore. Effective from May 3, 2023, the revised rates will offer an interest rate ranging from 3.25% to 6.60% on deposits with maturities ranging from 7 days to 10 years. The bank will now offer a maximum interest rate of 7.25% on deposits with a tenor of 555 days (18 months and 7 days).
As per the bank's official website, the revised rates will provide an interest rate of 3.25% on FDs maturing within the next 7 to 14 days.
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FDs maturing in the next 15 to 45 days will now attract an interest rate of 5.75%, while deposits with a tenor of 46 days to 90 days will offer an interest rate of 6.00%.
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The bank will also provide an interest rate of 6.25% on deposits with a tenor of 91 days to 179 days.
Deposits maturing in 180 days to less than one year will now fetch an interest rate of 6.50%, and those maturing in 1 year and above up to and inclusive of 2 years will attract an interest rate of 6.75%.
Deposits maturing in more than 2 years up to and including 3 years will offer an interest rate of 6.50%.
For deposits held for more than three years and up to five years, the bank will pay interest at a rate of 6.60%, and it has also raised its interest rate to 6.60% on deposits held for 1111 days (36 months and 15 days).
The interest rate for deposits maturing from more than five years up to and including ten years is presently 6.60%.
Dhanlaxmi Bank Latest FD Interest Rates
Dhanlaxmi Bank has also stated that senior citizens are eligible for an additional interest rate of 0.50% p.a. for all domestic term deposits of 1 year and above except for Dhanam Tax Advantage deposits.
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