Laxmi Vilas bank offers maximum interest of 7.75% for senior citizens and 8.35% for general for domestic deposit of amount below Rs. 1 crore, and the maturity period is 3 years to less than 5 years for the same.
Tax saver deposits: Upon going with Tax Saver Fixed deposits, the deposit amount becomes 1 lakh per financial year, and the maturity period is 5 years. The interest rate remains 7.75% for both senior citizens and general people.
NRO deposits: In case of NRO Fixed deposit of an amount about Rs. 10 Crore the maximum interest rate offered is 7.75%, and the maturity period here is 3 years to 5 years. The interest rate remains the same 7.75% as well for the above amount for maturity period of 2 years to 3 years, and the fixed deposit amount is the same at about Rs. 10 crores.
Lakshmi Vilas Bank Fixed deposits interest rates of February 2019 (Domestic & NRO):
|Time Period||Interest Rates (For Amount Below 1 Crore)||Interest Rates (Senior Citizens)|
(For Amount Below 1 Crore)
|7 Days to 14 Days||4.50%||4.50%|
|15 Days to 30 Days||4.50%||4.50%|
|31 Days to 45 Days||5.50%||5.50%|
|46 Days to 60 Days||6.00%||6.00%|
|61 Days to 90 Days||6.00%||6.00%|
|91 Days to 180 Days||6.50%||7.00%|
|181 Days to 270 Days||7.30%||7.80%|
|271 Days to 1 Year||7.30%||7.80%|
|1 Year to 2 Years||8.00%||8.60%|
|2 Years to 3 Years||7.60%||8.20%|
|3 Years to 5 Years||7.75%||8.35%|
|5 Years to 10 Years||7.75%||8.35%|
Tax saver deposit:
|Deposit Type||General||Senior Citizen|
|Lakshmi Tax Saver Deposits||7.75%||8.35%|
Lakshmi NRE fixed deposit interest rates February 2019:
|Period|| Interest rate|
|1 Year to 3 Years||7.60-8.00%|
|3 Year to 5 Years||7.75%|
|5 Year to 10 Years||7.75%|
Table updated: 19 February, 2019
- Lakshmi Vilas bank offers 5% interest for saving resident and no deposits up to 5 lakhs and 6% interest for above 5 lakhs.
- Extra .50 interest rate is available for senior citizen deposits for the period above 1 year. These rates are not applicable to NRO accounts.
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