A term deposit/ fixed deposit is a scheme where you can invest huge amounts for a pre-fixed tenure, and you can earn interest at the rates applicable on the day you open the fixed deposit.
Lakshmi Vilas Bank offers Fixed Deposit offers fixed deposits at many tenures at a very competitive interest rates. There may be a lot of cases where you can close a fixed deposit- either prematurely or close it once the term is over, instead of renewing it.
Am I allowed to deposit more amount into my fixed deposit account?
No, you cannot deposit more amount in the existing fixed deposit account. You can deposit only once when you open the account.
Who is eligible to open a fixed deposit account in Lakshmi Vilas Bank?
All HUFs, NRIs, resident individuals, minors, and firms can open a fixed deposit account.
Can I change the tenure of my fixed deposit account?
No, you cannot change the tenure of the fixed deposit account after the account has been opened.
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