Dhanachakra Deposit Account offered by Lakshmi Vilas Bank allows automatic compounding of accrued interest which yields higher returns, making your investments grow faster. This is ideal when it comes to planning your financial commitments for the future
Features of Dhanachakra Deposit Account
Some of the features are listed below:
- You can open the account with a minimum investment of Rs.100.
- The deposit tenure can range between 1 year to 10 years.
- You can open an individual deposit, joint deposit and in the name of minors.
- Loan can be availed on the deposit
- Nomination facility available
Rate of Interest offered
|Maturity Period||For General Citizens (p.a.)||For Senior Citizens (p.a.)|
|8 - 60 days||2.50%||2.50%|
|61 – 180 days||2.75%||2.75%|
|181 – 269 days||3.00%||3.50%|
|270 – 364 days||3.50%||5.50%|
|365 – 540 days||5.00%||5.65%|
|541 – 730 days||5.15%||5.75%|
|731 days to less than 3 years||5.25%||5.75%|
|3 years to less than 5 years||5.65%||6.15%|
|5 years to 10 years||5.75%||6.25%|
FAQs on Dhanachakra Deposit
Are senior citizens offered additional interest on all deposit tenures?
No, senior citizens are not offered additional interest on all deposit tenures. Additional interest of 0.50% is being offered on tenures ranging between 181 days and 10 years.
Is there a cap on the maximum deposit amount?
No, there is no ceiling on the maximum deposit amount.
Can I avail overdraft on my deposit?
Yes, you can avail overdraft on your deposit amount as the lender offers the loan facility.