Dhanalakshmi Bank Fixed Deposit
Dhanlaxmi is a bank that offers competitive rates for your investments. It has several customised fixed deposit schemes in order to meet the variant requirements of all of its customers.
Types of Dhanalaxmi Bank Fixed Deposit Schemes
- Dhanam Abhivridhi
- Surabhi Deposit
- Sri Dhana Chakra Deposit scheme
- Senior Citizen's Deposit scheme
- Tax Advantage fixed deposit scheme
- Cumulative Deposit Certificate (DCDC)
Features of Dhanalaxmi Bank Dhanam Abhivridhi Fixed Deposit Scheme
- Minimum amount of deposit: Rs.100
- Range of maturities available: 7 days to 10 years
- No limit on maximum deposit amount
- Interest compounded at quarterly rests
- Interest paid on the date of maturity
- You can apply for a loan or overdraft facility against this Term Deposit.
- Nomination is available
- Senior citizens are eligible for higher rates of interest
- Premature withdrawals are not charged with any penalty
- Tax Deducted at Source (TDS) is deducted from the interest income according to the Income Tax Act, 1961.
Features of Dhanalaxmi Bank Surabhi Deposit Scheme
- Facility to link your Savings Account or Current Account to the Term Deposit account
- This Surabhi fixed deposit account can be linked to more than one accounts.
- In case of deficits in the linked Savings/Current Account, funds will be transferred from the fixed deposit account in units of Rs.1,000.
- After the deposit matures, the account is automatically renewed.
- Maturity period: 6 months and above
- Lower limit of investment: Rs.10,000
Features of Dhanalaxmi Bank Sri Dhana Chakra Fixed Deposit
- Minimum investment: Rs.5,000
- Minimum tenure: 15 days
- Higher FIXED DEPOSIT interest rates as opposed to standard deposit rates
- Auto to renewal of the deposit after maturity for a tenure of your choice
- If the Sri Dhana Chakra Deposit account is closed 15 days since renewal, you will not receive any interest.
Features of Dhanalaxmi Bank Senior Citizen's Term Deposit Scheme
- 0.50% additional rate of interest offered to senior citizens
- Special rates only applicable for domestic deposits with a tenure of 1 year and above except for the 500 to day tenure.
- Range of fixed deposit maturity: 6 months to 120 months
Features of Dhanalaxmi Bank Tax Advantage Fixed Deposit Scheme
- Tax Advantage fixed deposit interest rates:
- Range of tenure period: 5 years to 10 years
- Minimum fixed deposit amount: Rs.100
- Tax benefits as outlined under Section 80 C of the Income Tax Act, 1961
- Tax to based exemptions only valid for a deposit value of up to Rs.1.50 lakh in a financial year.
- Permanent Account Number (PAN) card is mandatory to apply for this scheme
- You cannot prematurely withdraw from the Term Deposit scheme before 5 years of lock to in period
Features of Dhanalaxmi Bank Cumulative Deposit Certificate (DCDC) Scheme
- Interest added to the principal amount every quarter
- Cumulative payment of interest
- Lower limit of deposit: Rs.100
- Range of tenure: 6 months to 5 years
- Loans can be availed for up to 90% of the deposit value
- Lower limit of remittance amount: Rs.500
Dhanalaxmi Bank Fixed Deposit interest rates: Under Rs.2 crores
Term Deposits (All Maturities) | Interest rate (p.a.) |
7 days to 14 days | 5.75% |
15 days to 45 days | 5.75% |
46 days to 60 days | 6.50% |
61 days to 90 days | 6.50% |
91 days to 179 days | 6.50% |
180 days - less than one year | 6.50% |
1 Year and above 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% |
Above 5 years up to & 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.
Premature withdrawal of Dhanalaxmi Bank Term Deposits
In case of premature encashment, the following penalties are applicable:
- Penal interest of 1% levied on deposits adding up to Rs.5,00,000 and more.
- 0.50% penalty is charged for Term Deposits under the value of Rs.5,00,000.
Eligibility Dhanalaxmi Bank Fixed Deposit Scheme
- Any individual who is a resident of India
- Firms
- Corporates
- Associations
- Societies
- Clubs
- Trust Accounts
Top Bank FD
- SBI Bank FD
- HDFC Bank FD
- Axis Bank FD
- Post Office FD
- Senior Citizen FD
- Canara Bank FD Rates
- Kotak Bank FD
- Yes Bank FD
- Standard Chartered Bank FD
- Bank of Baroda FD
- PNB FD
- IDFC Bank FD
- IDBI Bank FD
- Indian Bank FD
- Union Bank FD
- Bank of India FD
- IOB Bank FD
- Shriram City FD
- LIC Housing FD
- Mahindra Finance FD
- Bandhan Bank FD
- KTDFC FD
- J & K Bank FD
- Federal Bank FD
- Bank of Maharashtra FD
FAQs on Dhanalaxmi Bank Term Deposit scheme
- What is the highest Fixed deposit rate of interest available through Dhanalaxmi Bank?
The maximum Fixed deposit rates available is 5.60% p.a. for a maturity period of 5 years and up to 10 years.
- What is the range of tenure for Dhanalaxmi Bank Fixed deposit?
The tenure range for the Dhanalaxmi Bank Fixed Deposit scheme is between 7 days and 120 months.
- What is the minimum deposit amount needed to open a Sri Dhana Chakra Fixed Deposit account?
You need to invest at least Rs.5,000 for this Term Deposit scheme.
- What is the minimum amount of balance needed for the Surabhi Deposit scheme?
You need to maintain a minimum balance of Rs.10,000 to operate the Surabhi Term Deposit scheme.
- Are senior citizens eligible for special Fixed Deposit rates?
Yes, senior citizens can receive 0.50% higher interest rate for deposits with a tenure of 1 year and above.
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