Lakshmi Vilas Bank Fixed Deposit Rates 2020

Founded in 1926, Lakshmi Vilas Bank is one of India’s leading private sector banks headquartered in Chennai, Tamil Nadu. Offering a wide variety of financial products and services under corporate and private banking, the Lakshmi Vilas Bank offers a fixed deposit scheme with attractive interest rates and a wide range of tenure options to choose from. The highest Lakshmi Vilas Bank (LVB) fixed Deposit rate is 6.75% p.a. for a maturity period of 400 days.

The minimum tenure for a fixed deposit is 7 days and the maximum is 15 years. The minimum amount required to open a term deposit account at Lakshmi Vilas Bank is Rs.100.

Highlights of LVB Fixed Deposit rates

  • Range of interest rates available for the general public: 4.00% p.a. to 6.75% p.a.
  • Highest Lakshmi Vilas Bank FD rate: 6.75% p.a. (400 days)
  • Highest FD rate for Senior Citizens: 7.25% p.a. (400 days)
  • Lakshmi Tax Saver Fixed Deposit rate: 6.25% p.a.
  • Tenure range available: 7 days to 10 years

Lakshmi Vilas Bank Fixed Deposit Rates

Tenure bracket General FD rates (per annum) Senior Citizens FD rates (per annum)
7 days to 15 days 4.00% 4.00%
15 days to 31 days 4.25% 4.25%
31 days to 45 days 4.75% 4.75%
46 days to 90 days 5.25% 5.25%
91 days to 120 days 5.75% 5.75%
121 days to 150 days 6.00% 6.00%
151 days to 180 days 6.00% 6.00%
181 days to 364 days 6.00% 6.50%
365 days to 399 days 6.50% 7.00%
400 days 6.75% 7.25%
401 days to less than 36 months 6.50% 7.00%
36 months to less than 60 months 6.25% 6.75%
60 months to 120 months 6.25% 6.75%

*The LVB Term Deposit rates are subject to change at the discretion of the bank. The rates of interest are valid as of 1 June 2020.

** Above rates are for deposits below Rs. 2 Crore.

Lakshmi Vilas Bank Tax Saver Deposit Rate

Tenure bracket General FD rates (per annum) Senior Citizens FD rates (per annum)
5 years 6.25% 6.75%

*The Lakshmi Tax Saver FD rates are subject to change at the discretion of the bank. The rates of interest are valid as of 1 May 2020.

Lakshmi Vilas Bank FD rates: Rs.2 crore to Rs.5 crore

Tenure bracket General FD rates (per annum)
7 days to 14 days 3.35%
15 days to 30 days 3.75%
31 days to 45 days 4.00%
46 days to 60 days 4.75%
61 days to 90 days 5.15%
91 days to 180 days 5.50%
181 days to 270 days 5.65%
271 days to 364 days 5.70%
400 days 6.00%
12 months to less than 13 months 6.10%
13 months to 120 months 6.00%

*The LVB Term Deposit rates are subject to change at the discretion of the bank. The rates of interest are valid as of 17 June 2020.

Lakshmi Vilas Bank term deposits for Non-Resident Indians

For Non-Resident Indians, term deposits are offered in terms of NRO, NRE, FCNR and RFC deposits.

The interest rates for NRO deposits are the same as the domestic rates of interest along with the tenure.

Interest rates for NRE term deposit are:

Tenure bracket Rate of Interest (per annum)
1 year to 399 days 6.50%
400 days 6.75%
401 days to less than 3 years 6.50%
3 years to less than 5 years 6.25%
5 years to 10 years 6.25%

Interest rate effective from 1 June 2020.

FCNR term deposit interest rates of Lakshmi Vilas Bank are:

Tenure/Currency SGD JPY EUR USD CAD GBP AUD CHF
1 year to less than 2 years 1.05% 0.76% 0.53% 1.30% 1.60% 0.95% 0.93% 0.15%
2 years to less than 3 years 1.08% 0.73% 0.46% 1.27% 1.34% 1.02% 0.99% 0.10%
3 years to less than 4 years 1.24% 0.82% 0.55% 1.39% 1.50% 1.11% 1.14% 0.21%
4 years to less than 5 years 1.31% 0.81% 0.56% 1.43% 1.57% 1.12% 1.25% 0.23%
5 years 1.37% 0.81% 0.58% 1.48% 1.63% 1.15% 1.33% 0.27%

Interest rate effective from 1 June 2020.

Interest rates for RFC term deposits are:

Tenure/Currency GBP USD EUR
1 month to less than 6 months 0.21% 0.37% 0.00%
6 months to less than 1 year 0.70% 0.80% 0.00%
1 year 0.84% 0.90% 0.00%

Interest rate effective from 1 June 2020.

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