|Maturity Period||Interest Rate (%)||NRE rates (%)|
|1 year to 10 years||7||7|
Get the Highest Interest Rates on Lakshmi Vilas Bank Recurring Deposit
The recurring deposit scheme offered by Lakshmi Vilas Bank is favored mainly because of the high rates on interest which one can earn on their investments. This scheme helps people by letting them save money through their deposits, which amount to as low as Rs.100 per month (thereafter in multiples of it) for minimum 1 year and maximum 10 years, while earning attractive rates of interest. Apart from this, this scheme also offers loan and nomination facility.
Lakshmi Vilas Bank Short-Term Recurring Deposit Interest Rates
The short- term recurring deposits offered by Lakshmi Vilas Bank are available for a tenure of 1 year to below 2 years. The rate of interest that one can earn on their short term deposits amounting to less than Rs.1 crore is 7.70 % per annum.
Lakshmi Vilas Bank Medium and Long Term Recurring Deposit Interest Rates
The medium term and long term recurring deposits offered by Lakshmi Vilas Bank are available for tenures of 2 years to below 5 years and 5 years to 10 years. The interest rate offered on these deposits are as follows –
- For medium term deposits amounting to less than Rs.1 crore, the interest rate is 7.50 % per annum
- For long term deposits amounting to less than Rs.1 crore, the interest rate is 7.40 % per annum
Lakshmi Vilas Bank NRE Recurring Deposit Interest Rates
Lakshmi Vilas Bank allows its NRI customers to open recurring deposit account for different tenures, offering a very high rate of interest on the same.
The NRE recurring deposits made for a tenure of 1 year to below 2 years and 2 years to below 5 years, the bank offers 7.70% and 7.50 % interest per annum. Deposits made for a tenure of 5 years to 10 years attract an interest rate of 7.80 % per annum.
More you need to know about Recurring Deposit
- Compare RD Rates of Lakshmi Vilas Bank with Other Banks and Institutions
- Check Features and Schemes of Lakshmi Vilas Bank Recurring Deposit
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News About Lakshmi Vilas Bank Recurring Deposit Interest Rates
Lakshmi Villas Revises Interest Rates offered for Recurring Deposits
Lakshmi Villas Bank has revised the interest rates offered for their recurring deposits effective from 10th August 2016. The changes will be reflected on all deposits below Rs. 1crore. For deposits exceeding Rs. 1 Crore, details can be sought at the nearest Lakshmi Villas Bank branch. The interest rates offered depend on the tenures chosen and General interest rates offered for tenures of 1 to 2 years is 7.70% p.a., tenures of 2 to 5 years have interest rates of 7.50% p.a. and for tenures ranging from 5 years to 10 years is 7.40% p.a. Senior citizens receive no preferential interest rates for recurring deposits.
15th August 2016