• Overview of Lakshmi Vilas Bank Fixed Deposit

    The bank was established to help the industrialists and traders and agriculturalists that resided in the region of Karur. Between the years 1961 and 1965 the bank grew rapidly and post 1974, it started to expand to other parts of the country as well. Today, the bank offers its services through an impressive network of over 400 branches spread across the country. It also has 11 regional offices and well over 800 ATMs.

    Features of Lakshmi Vilas Bank Fixed Deposit

    • The period of the deposit ranges from 15 days to 10 years
    • You will have an assured regular monthly/quarterly income.
    • The minimum deposit amount is Rs.100 (no ceiling for the maximum amount)
    • You can open the deposit account individually or jointly.
    • It can also be opened in the name of minors.
    • Loan facility is available
    • Nomination facility is also available.

    Lakshmi Vilas Bank FD Eligibility Criteria

    Any individual can open a fixed deposit with the bank. The FD can also be opened jointly or by a group like a company or a society. Even minor above the age can open fixed deposits either under the guidance of a guardian or on their own. Even NRIs (Non Resident Indian’s) can open these fixed deposits.

    How to Open Lakshmi Vilas Bank Fixed Deposit

    A fixed deposit with this bank can be opened in two ways:

    • The first is the traditional way of approaching the bank’s branches and submitting the appropriate documents.
    • The second is the online method where all you have to do is fill up a form on the website with your details and which account you want to open.

    Once the form is completed it will provide you with a unique number to track your request and also a list of documents that will be needed. Thereafter, a representative of the bank will get in touch with you to help with the remaining formalities.

    Lakshmi Vilas Bank Fixed Deposit Interest Rates

    Maturity Period Regular Senior Citizen
    7 days 2.50% 2.50%
    8 days to 14 days 2.50% 2.50%
    15 days to 29 days 2.50% 2.50%
    30 days to 45 days 2.50% 2.50%
    46 days to 60 days 2.50% 2.50%
    61 days to 90 days 2.75% 2.75%
    91 days to 180 days 2.75% 2.75%
    181 days to 269 days 3.00% 3.50%
    270 days to 364 days 3.5% 4.00%
    365 days to 375 days 5.00% 5.50%
    376 days to 540 days 5.00% 5.50%
    541 days to 730 days 6.00% 6.50%
    731 days to less than 2 years and 6 months 4.75% 5.25%
    2 years and 6 months 4.75% 5.25%
    2 years and 6 months and 1 day to less than 3 years 4.75% 5.25%
    3 years to less than 4 years 5.50% 6.00%
    4 years to less than 5 years 5.50% 6.00%
    5 years to 10 years 5.50% 6.00%

    FAQs on Lakshmi Vilas Bank Fixed Deposit

    1. What is the highest interest rate offered by Lakshmi Vilas Bank?

      The highest rate offered by the bank is 6%.

    2. Is loan facility available with the bank's fixed deposits?

      Yes, loan facility is available.

    3. What is the minimum amount for the fixed deposit?

      The minimum deposit amount is Rs.100 (no ceiling for the maximum amount).

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