Dhanalakshmi Bank is a trusted name in the banking sector with a strong branch network. The bank offers premium quality products and services, Fixed Deposits (FDs) being one among them.
There are multiple FD plans provided by the bank, each having different add-on benefits, features and tenure. You can choose and invest in the plan as per your financial goals and convenience.
The following are the interest rates for less than Rs.2 crore w.e.f. 01 August 2023:
Term Deposits (All Maturities) | Interest Rates (p.a.) |
7 Days to 14 Days | 5.75 |
15 Days to 45 Days | 5.75 |
46 Days to 60 Days | 6.75 |
61 Days to 90 Days | 6.75 |
91 Days to 179 Days | 6.75 |
180 Days to less than one year | 6.75 |
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 | 6.50 |
Above 3 years upto & inclusive of 5 years | 6.60 |
Above 5 years upto & inclusive of 10 years | 6.60 |
Note: For all domestic term deposits of 1 year and above, senior citizens are eligible for an additional interest rate of 0.50% p.a. except Dhanam Tax Advantage deposits.
Dhanalakshmi Bank has a special FD plan named "Dhanam Tax Advantage Deposit" under which the investor saves on tax under Section 80C of the Income Tax Act. The maximum tax exemption is up to Rs. 1.5 lakh in a financial year.
Features |
|
Eligibility |
|
Interest rate | Quarterly compounding interest; payment at maturity |
Rates for Senior Citizens | No interest benefits |
Premature Withdrawal | Allowed only after completing five years |
Loan against FD | Not allowed |
All Maturities | Interest Rate (Less than Rs. 2 Crore) (p.a.) |
Above 1 year up to & inclusive of 2 years | 6.75% |
555 days | 7.25% |
Above 2 years up to & inclusive of 3 years | 6.50% |
Above 3 years up to & inclusive of 5 years | 6.60% |
1111 days | 6.60% |
Above 5 years up to & inclusive of 10 years | 6.60% |
The above-mentioned interest rates are effective from 01 August 2023. Dhanalakshmi Bank can change the interest rates without prior notice.
Note: A penalty of 1% will be charged on premature withdrawal of deposit of Rs. 50,000/- and above.
A penalty of 0.50% will be charged for withdrawing deposits less than Rs. 50,000/- w.e.f. 10 April 2016. The bank will pay no interest on term deposits kept less than the minimum prescribed period.
Currency | 1 year to < 2 years | 2 years to < 3 years | 3 years to < 4 years | 4 years to < 5 years | For 5 years (Maximum) |
USD | 5.76 | 4.91 | 4.01 | 3.26 | 3.26 |
GBP | 4.76 | 4.51 | 3.21 | 3.21 | 3.21 |
EUR | 1.76 | 1.76 | 1.76 | 1.76 | 1.76 |
SGD | 0.71 | – | – | – | – |
Currency | 6 months to less than 1 year | 1 year to less than 2 years | 2 years to less than 3 years | 3 years |
USD | 5.76 | 5.76 | 4.91 | 4.01 |
GBP | 4.76 | 4.76 | 4.51 | 3.21 |
EUR | 1.76 | 1.76 | 1.76 | 1.76 |
You will the following documents while applying for an FD:
There are different types of Dhanlaxmi Bank fixed deposits to choose from, and these include:
The minimum deposit amount for an FD is Rs. 100.
The senior citizens get an additional interest benefit of 0.50%.
The highest and lowest interest rate for an FD are 6.10% and 3.25% for deposits below Rs. 2 crore.
The facility is available for account holders and non-account holders.
The customer can open an FD account online if they have an internet banking account.
Credit Card:
Credit Score:
Personal Loan:
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