|Term Deposits (All Maturities)||Rates of Interest||Rates of Interest – Senior Citizens|
|180 days to 364 days||6.75||6.75|
|Above 1 year upto & inclusive of 2 years||7||7.5|
|Above 2 years upto & inclusive of 3 years||7||7.5|
|Above 3 years upto & inclusive of 5 years||7||7.5|
|Above 5 years upto & inclusive of 10 years||7||7.5|
|NRE (All Maturities)||Rates of Interest|
|Above 1 year upto & inclusive of 2 years||7|
|Above 2 years upto & inclusive of 3 years||7|
|Above 3 years upto & inclusive of 5 years||7|
|Above 5 years upto & inclusive of 10 years||7|
Get The Best Rates for a Dhanlaxmi Bank Recurring Deposit
A recurring deposit is a good way to inculcate the habit of saving. Putting away small sums of money every month will help build a savings fund. Dhanlaxmi Bank offers an RD scheme that benefits the general public, senior citizens and NRIs. The RD scheme offered is called the Laxmi Recurring Deposits. Customers can set a predetermined amount and choose their tenure. Interest is computed on a quarterly basis. The interest accumulated is then invested with the RD amount. Upon maturity, the principal plus interest will be paid out.
Dhanlaxmi Bank Short Term Recurring Deposit Interest Rates
Short term deposits range between 6 months to less than 1 year. Creating a recurring deposit for these tenures will attract interest of 6.75% per annum. NRIs do not qualify to open these short term deposits. Also, senior citizens are not entitled to any additional rate of interest on short term deposits.
Dhanlaxmi Bank Medium and Long Term Recurring Deposit Interest Rates
A medium term deposit ranges between 1 year to less than 3 years. These deposits earn a higher interest rate of 7.25% per annum. Long term RDs of 3 years to 10 years earn interest of 7.10% per annum. You stand to earn a larger amount of interest over the years.
Dhanlaxmi Bank Senior Citizen Recurring Deposit Interest Rates
Senior citizens are entitled to an additional interest rate of 0.50% over the regular rate with deposits made for at least 1 year. Senior citizens will get only 7.25% per annum on short term deposits. Deposits made for 1 year to 3 years earn 7.75% interest per annum. Deposits made for 3 years to 10 years earn 7.60% per annum.
Dhanlaxmi Bank NRE/NRO Recurring Deposit Interest Rates
NRE deposits should be made for a minimum of 1 year. If it is closed before this period, no interest will be payable. The minimum deposit amount is Rs. 1,000, in multiples of Rs. 500. The interest earned on these deposits are on par with domestic RDs. Deposits made for 1 year to 3 years will earn 7.25% per annum. Long term RDs of 3 years to 10 years earn interest of 7.10% per annum.
More you need to know about Recurring Deposit
- Compare RD Interest Rates of Dhanalakshmi Bank with Other Banks and Institutions
- Check Features and Schemes of Dhanalakshmi Bank Recurring Deposit