Dhanlaxmi Bank, a private sector lender has revised its interest rates on fixed deposits under Rs 2 crore. The bank has revised its interest rates on deposits, which now range from 3.25% to 7.25% for maturities of 7 days to 10 years, according to the bank’s official website. The new rates are effective from May 3, 2023.
Dhanlaxmi Bank FD interest rates
On fixed deposits that mature in 7 to 14 days, the bank will now pay an interest rate of 3.25%, and Dhanlaxmi Bank will pay an interest rate of 5.75% on deposits that mature in the following 15 to 45 days. Dhanlaxmi Bank is now offering interest rates of 6.25% on deposits with a tenor of 91 Days to 179 Days and 6.00% on deposits with a tenor of 46 days to 90 days. Deposits that mature in 180 days or less than a year will now earn interest at a rate of 6.50%.
Deposits that mature in a 1 Year and above up to 2 years will now earn interest at a rate of 6.75%. The interest rate has been increased by the bank to 7.25% for deposits maturing in 555 days (18 months and 7 days).
The bank now offers 6.50% for deposits maturing in more than 2 years up to and up to 5 years.
| Term Deposits-Domestic & NRO Deposits (w.e.f. 03.05.2023) | |
| Term Deposits (All Maturities) | Rates of Interest (Less than Rs.2 Crore) |
| 7 Days to 14 Days | 3.25 |
| 15 Days to 45 Days | 5.75 |
| 46 Days to 60 Days | 6 |
| 61 Days to 90 Days | 6 |
| 91 Days to 179 Days | 6.25 |
| 180 Days to less than one year | 6.5 |
| 1 Year and above upto & inclusive of 2 years | 6.75 |
| 555 Days (18 months and 7 Days) | 7.25 |
| Above 2 years upto & inclusive of 3 years | 6.5 |
| Above 3 years upto & inclusive of 5 years | 6.6 |
| 1111 Days (36 Months and 15 Days) | 6.6 |
| Above 5 years upto & inclusive of 10 years | 6.6 |
According to the Dhanlaxmi Bank website “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.”
NRE deposit rates
| NRE (All Maturities) (w.e.f 03.05.2023) | Rates of Interest (Less than Rs.2 Crore) |
| Above 1 year upto & inclusive of 2 years | 6.75 |
| 555 days | 7.25 |
| Above 2 years upto & inclusive of 3 years | 6.5 |
| Above 3 years upto & inclusive of 5 years | 6.6 |
| 1111 days | 6.6 |
| Above 5 years upto & inclusive of 10 years | 6.6 |
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