Laxmi Vilas bank offers maximum interest of 7.75% for senior citizens and 8.35% for general for domestic deposit of amount below Rs. 1 crore, and the maturity period is 3 years to less than 5 years for the same.
Tax saver deposits: Upon going with Tax Saver Fixed deposits, the deposit amount becomes 1 lakh per financial year, and the maturity period is 5 years. The interest rate remains 7.75% for both senior citizens and general people.
NRO deposits: In case of NRO Fixed deposit of an amount about Rs. 10 Crore the maximum interest rate offered is 7.75%, and the maturity period here is 3 years to 5 years. The interest rate remains the same 7.75% as well for the above amount for maturity period of 2 years to 3 years, and the fixed deposit amount is the same at about Rs. 10 crores.
For NRE fixed deposit of amount about Rs. 1 crore, the maximum interest rate is 7.75%, and the maturity period is 3 years to 5 years. Below rates are effective from 3 November 2018.
Lakshmi Vilas Bank Fixed deposits interest rates of February 2019 (Domestic & NRO):
| Time Period | Interest Rates (For Amount Below 1 Crore) | Interest Rates (Senior Citizens) (For Amount Below 1 Crore) |
| 7 Days to 14 Days | 4.50% | 4.50% |
| 15 Days to 30 Days | 4.50% | 4.50% |
| 31 Days to 45 Days | 5.50% | 5.50% |
| 46 Days to 60 Days | 6.00% | 6.00% |
| 61 Days to 90 Days | 6.00% | 6.00% |
| 91 Days to 180 Days | 6.50% | 7.00% |
| 181 Days to 270 Days | 7.30% | 7.80% |
| 271 Days to 1 Year | 7.30% | 7.80% |
| 1 Year to 2 Years | 8.00% | 8.60% |
| 2 Years to 3 Years | 7.60% | 8.20% |
| 3 Years to 5 Years | 7.75% | 8.35% |
| 5 Years to 10 Years | 7.75% | 8.35% |
Tax saver deposit:
| Deposit Type | General | Senior Citizen |
|---|---|---|
| Lakshmi Tax Saver Deposits | 7.75% | 8.35% |
Lakshmi NRE fixed deposit interest rates February 2019:
| Period | Interest rate
(% p.a.) |
|---|---|
| 1 Year to 3 Years | 7.60-8.00% |
| 3 Year to 5 Years | 7.75% |
| 5 Year to 10 Years | 7.75% |
Table updated: 19 February, 2019
Important notes:
- Lakshmi Vilas bank offers 5% interest for saving resident and no deposits up to 5 lakhs and 6% interest for above 5 lakhs.
- Extra .50 interest rate is available for senior citizen deposits for the period above 1 year. These rates are not applicable to NRO accounts.
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However, you can go through the official website for having complete detail of interest rates.
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