Dhanalakshmi Bank provides customers deposits with attractive features that include attractive rates of interest. These rates while fixed for the tenure chosen by a deposit holder is subject to change at the banks discretion in response to market rate movements. This can make it difficult for FD account holders to track latest rates and choose the most profitable tenure.
The above table resolves this issue by displaying the latest fixed deposit rates from Dhanalakshmi Bank on a real-time basis. Using this, investors can make informed decisions and avail those schemes that offer the best rates that suit individual timeframes.
The updated list of Dhanalakshmi Bank FD Rates, for Regular and Senior Citizen, is listed below:
|Tenure||Regular FD Rate||Senior Citizen FD Rate|
|Upto Amount||Rs. 1 Crore||Rs. 1 Crore|
|7 days to 14 days||4||4.5|
|15 days to 45 days||4||4.5|
|46 days to 90 days||5||5.5|
|91 days to 179 days||5.5||6|
|180 days to less than one year||6||6.5|
|1 Year and above upto & inclusive of 2 years||6.75||7.25|
|Above 2 years upto & inclusive of 3 years||6.5||7|
|Above 3 years upto & inclusive of 5 years||6.5||7|
|Above 5 years upto & inclusive of 10 years||6.5||7|
The bank offers an attractive rate of return, when compared to its peers, on very short-term holdings between 7 days to 45 days at 5% p.a. This is enhanced by 1.5% to 6.5% p.a. for deposits held between 46 days to 91 days. This is further enhanced by 0.25% for holdings between 91 days and 179 days. The bank's highest rate is offered on deposits held for a period of 180 days to 1 year at 7.00% p.a.
The bank offers a standard rate of 7.60% on all deposits maintained for a period above 1 year up to and including 3 years. Which drops by 0.10% for period 3 years up to 10 years at 7.50%. This makes medium and long term options attractive to those customers who need to invest funds for a longer period of time. It represents a 0.60% jump from the maximum rate offered on short term deposits.
Senior citizens holding fixed deposit accounts with the bank can avail 0.5% p.a. in addition to rack rates offered to regular customers. This puts rates for this customer class in the range of 5.5% to 8.10%p.a. This makes these FDs good options for seniors looking to lock-in funds on a long term basis.
Dhanlaxmi Bank, which is a private sector bank, offers a number of attractive services such as personal, corporate, and NRI banking services to its customers. The fixed deposits offered by the bank include attractive rates of interest. As per the recent directive by the Reserve Bank of India, Dhanlaxmi Bank has revised its interest rates.
The bank has changed interest rates for domestic and NRO term deposits. For deposits with 365 days tenure, the rate offered is 7.35%. Deposits having tenure above 1 year upto & inclusive of 2 years, and above 2 years upto & inclusive of 3 years, the interest rate applicable is 7.25%. An interest rate of 7.10% is levied on term deposits with tenures above 3 years upto & inclusive of 5 years, and above 5 years upto & inclusive of 10 years. For senior citizens an additional 0.5% rate of interest is applicable on all domestic term deposits for a period of 1 year and above. These revised rates of interest are applicable from March 10, 2016.
18th March 2016
Dhanalakshmi Bank has revised the interest rates of its products owing to the repo rate reduction and the subsequent directive by the Reserve Bank of India.
The bank offers revised interest rates on term deposits - domestic and NRO deposits - with effect from November 18, 2015. Interest rates for tenures ranging 46 -90 days and 91-179 days are offered at 6.50% and 6.75% respectively. An interest rate of 7% is offered for 180-364 days fixed deposit. Between 365 days-2 years and above 2 years inclusive of 3 years the rate of interest applicable is 7.60% for both the tenures. For the next slab of above 3 years up to 5 years and above 5 years up to 10 years, customers will get interest rate of 7.50% for short-term fixed deposits. Senior citizens can avail an additional rate of interest of 0.50% per annum for all domestic term deposits having a tenure of 1 year.
20th November 2015