An RD account with Lakshmi Vilas Bank can be opened with a minimum deposit amount of Rs.100. The interest offered by the bank on RDs are attractive and range between 7.75% to 7.85% p.a. The bank offers you loan and nomination facilities for opening an RD account with them.
Listed below are the deposit tenures and interest rates offered by Lakshmi Vilas Bank when it comes to recurring deposits:
|Deposit Tenure||Interest rate p.a. (For General and Senior Citizens)|
|12 months to less than 18 months||7.75%|
|18 months to 120 months||7.85%|
Note: The interest rates mentioned above are for deposits below Rs.2 crore as of 02 July 2019.
Lakshmi Vilas Bank Short-Term Recurring Deposit Interest Rates
If you open an RD account with Lakshmi Vilas Bank for a period that ranges between 12 months to less than 18 months, it falls under short-term RDs. The interest paid by the bank on deposits made for such tenures is 7.75% p.a.
Lakshmi Vilas Bank Medium and Long Term Recurring Deposit Interest Rates
Deposits made for a period that ranges from 18 months to less than 5 years fall under medium-term RDs while deposits made for a period that is in excess of 5 years falls under long term RDs. The interest offered by the bank on both medium-term and long-term RDs are the same i.e., 7.85% p.a.
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