4,80,000 people visited this section in last 30 daysApply Online

MyLoanCare - Baat Aapke Interest Ki

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Dhan Laxmi FD - Scheme, Eligibility, Documents

Dhan Laxmi Bank Fixed Deposit Highlights

Last Updated 25th Jun 2021

Dhan Laxmi Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 3.50% to 5.60%
Minimum Tenure 7 days
Maximum Tenure 10 years
Deposit Amount Rs 100
Maximum Deposit No Limit
    Earn upto 6.95% on FD APPLY NOW

    Dhan Laxmi Bank FD

    Dhan Laxmi Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 7 days to 10 years. Apart from that, Dhan Laxmi Bank FD offers regular returns on fixed deposits ranging between 3.50% to 5.60%. For senior citizens, the interest rates on fixed deposits range between 4.00% to 6.10%. In addition to that, Dhan Laxmi Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of Dhan Laxmi Bank Fixed Deposit Schemes

    Different type of Dhan Laxmi Bank term deposit products offered to the investors are listed as follows:

    Standard Fixed Deposit

    Description:

    • Fixed deposits of Dhan Laxmi Bank offers lucrative interest rates coupled with safety and flexible payout options. It is a low-risk investment with moderate returns. Further, moderate returns ensure that it beats inflation. The lumpsum amount after the stipulated time makes it a viable Bank to bank on.
    • Minimum amount of deposit: Rs.100
    • Tenure: 7 days to 10 years
    • No limit on maximum deposit amount
    • No limit on maximum deposit amount

    Eligibility:

    • Resident Individuals, HUFs and Minors.

    Benefits of Dhan Laxmi Bank FD

    Dhan Laxmi Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are mentioned below:

    • Guaranteed returns: The best thing about Dhan Laxmi Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on a fixed deposits is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, Dhan Laxmi Bank offers FD rates up to 5.60%. The interest rates offered on Dhan Laxmi Bank FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a fixed deposits with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, Dhan Laxmi Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in an FD scheme is not only a reliable investment option but can also act as an asset. This is because Dhan Laxmi Bank fixed deposit allows one to borrow a secured loan against Dhan Laxmi Bank FD. Benefits of Loan Against FD of Dhan Laxmi Bank are as follow:
      • Loan against FD of Dhan Laxmi Bank offers the loan amount upto 90%-95% of the FD amount.
      • The interest charged on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
      • Loan against FD of the Dhan Laxmi Banks flexible repayment options.
      • The processing fee of Loan Against FD in the Dhan Laxmi Bank is nil.
      • It is a hassle-free loan and does not require the depositor to break the FD.
    • Flexible tenures: Dhan Laxmi Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. Dhan Laxmi Bank offers fixed deposit for a minimum tenure of 7 days up to a maximum tenure of 10 years. Dhan Laxmi Bank offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, Dhan Laxmi Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs 100. Apart from that, one can invest in the Dhan Laxmi Bank FD up to a maximum of No Limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with Dhan Laxmi Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from Dhan Laxmi Bank will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of Dhan Laxmi Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for Dhan Laxmi Bank FD

    Dhan Laxmi Bank FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for Dhan Laxmi Bank FD

    Dhan Laxmi Bank fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    Credit Card Against Dhan Laxmi Bank FD

    Credit Cards againstDhan Laxmi Bank FD are secured credit cards. They are availed against the amount deposited in the term deposits. They are an ideal option for individuals with low CIBIL score and salary. Below mentioned are the important features of Credit Cards against Dhan Laxmi Bank FD:

    • The limit offered on the credit card depends upon the amount deposited in the fixed deposits. Generally, banks offer around 80% of the deposit amount as the total credit limit on the card.
    • Credit Cards against the fixed deposits require minimum documentation.
    • The minimum tenure of the term deposits should be 6 months to avail credit card against it.
    • Secured Credit cards also offer discounts, cashback and rewards.
    • The cardholder continues to earn the same applicable interest rate on FD.

    FAQs

    What is the loan against FD repayment tenure in Dhan Laxmi Bank?

    Loan against FD is the  facility which allows the investor to avail the loan against the amount deposited in the term deposit. Dhan Laxmi Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years.

    What is the minimum investment for FDs under Dhan Laxmi Bank?

    Dhan Laxmi Bank Fixed Deposit is one of the safest investment avenues and it can be availed with a minimum deposit of Rs 100.

    What is the minimum amount for a fixed deposit in Dhan Laxmi Bank?

    The minimum amount required for a fixed deposit investment in Dhan Laxmi Bank fixed deposit is Rs 100.

    What is the current interest rate on FD in Dhan Laxmi Bank?

    Currently, Dhan Laxmi Bank offers an interest rate ranging between 3.50% to 5.60% on its fixed deposits.

    What is the penalty for early withdrawal in Dhan Laxmi Bank?

    Bank charges penalty on premature withdrawal of fixed deposits. The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in Dhan Laxmi Bank?

    Dhan Laxmi Bank fixed deposit can be opened with a minimum tenure of 7 days. The tenure of the Dhan Laxmi Bank fixed deposits ranges from 7 days to 10 years.

    Can I deposit additional amount in my Dhan Laxmi Bank FD account?

    No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

    Who is eligible for opening an FD account in Dhan Laxmi Bank?

    All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

    What documents are required to open an FD account in Dhan Laxmi Bank?

    The documents required to open an FD account in Dhan Laxmi Bank includes KYC documents and Passport size photos.

    In how many years FD doubled in the Dhan Laxmi Bank?

    The time Dhan Laxmi Bank fixed deposits will take to double the initial amount will depend upon the rate of interest offered on the FD. You can calculate the maturity amount of the Dhan Laxmi Bank FD at MyLoanCare by entering the amount you want to deposit and the interest offered on FD.

    Can an NRI open a Dhan Laxmi Bank fixed deposit account?

    No, Non-Resident Individuals are not allowed to invest in Dhan Laxmi Bank schemes. It means that they are not eligible to invest in fixed deposits.

    Is the Dhan Laxmi Bank safe for FD?

    Yes, the Dhan Laxmi Bank is one of the safest avenues for any investments. Dhan Laxmi Bank is backed by the Government of India and the returns on any investment including fixed deposits are guaranteed.

    Is it wise to take a loan against FD from the Dhan Laxmi Bank?

    Yes, opting for a Loan Against FD is an excellent decision. The reasons to take loan from Dhan Laxmi Bank are:

    • It offers the loan upto 90%-95% of the FD amount.
    • The interest levied on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
    • Loan against FD offers flexible repayment options.
    • The processing fee of Loan Against FD is Nil.
    • It is a hassle-free loan and requires minimum documentation.
    • Loan against FD helps the depositors to avoid the option of premature withdrawal.

    However, there might be a chance that the alternative credit option is offering lower rates with better facilities. In that case, individuals must compare and decide on the credit option.


    Notification ×
    • Home Loan

      Home Loan at all-time low rates starting at 7.85%. Cashback of up to ₹ 1,000.

      Apply Now
    • Personal Loan

      Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

      Check Offers
    • Gold Loan

      Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

      Apply Now
    • Loan Against Property

      Best Loan Against Property Offers starting @ 10.60%. Cashback of up to ₹ 1,000*.

      Apply Now
    • Business Loan

      Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

      Apply Now
    • Fixed Deposit

      AAA rated FDs with returns as high as 6.95%.

      Invest Now
    Dhan Laxmi News - Jul 2021
    • 2021-06-03 : Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4
      Dhanlaxmi Bank reported a net profit of Rs 5.28 crore in the fourth quarter of FY2020-21, boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.
    • 2020-03-04 : New FD rates for Dhan Laxmi Bank
      Dhan Laxmi Bank revised its FD rates with effect from 1 March 2020. The FD rate for 7 to 45 days is 4%, for 46 to 90 days it is 5% and it is 5.50% for 91 to 179 days. The Fixed deposit rate for 180 days to less than one year is 6.15% and for one year to and upto two years is 6.90%. In addition to this, the fixed deposit rate for above two years upto and inclusive of 10 years is 6.50%.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
    Loader
    Please wait while your information is being processed...