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Lakshmi Vilas FD Interest Rates 2021

Lakshmi Vilas FD Interest Rates

Last Updated 25th Jun 2021

When it comes to the FD interest rate, the highest rate offered on Lakshmi Vilas Bank FD is 6.00%. Latest Lakshmi Vilas Bank FD interest rate for senior citizens, on the other hand ranges between 2.50% to 6.50%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 2.50% 2.50%
15 days to 30 days 2.50% 2.50%
31 days to 60 days 2.50% 2.50%
61 days to 90 days 2.75% 2.75%
91 days to 180 days 2.75% 2.75%
Earn upto 6.95% on FD APPLY NOW

Lakshmi Vilas Fixed Deposit Features

Lakshmi Vilas Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Lakshmi Vilas Bank Fixed Deposit are:

  • Deposit Amount : Lakshmi Vilas Bank FD can be opened with an amount as a low to up to No Limit.
  • FD Tenure : Ranges between 7 days to 730 days.
  • Interest Rate Range : 2.50% p.a. to 6.00% p.a.
  • Senior Citizens FD Rate : 2.50% p.a to 6.50% p.a.
  • Highest Interest Rate : As per today’s rate, Lakshmi Vilas Bank’s highest interest rate on FD is 6.00% offered for a tenure of 730 days.
  • Safety of Lakshmi Vilas Bank Deposits : Lakshmi Vilas Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Lakshmi Vilas Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Standard Fixed Deposits

Lakshmi Vilas Bank FD Interest Rates Today

Interest rates on Lakshmi Vilas Bank deposits are updated regularly by the Government of India. The following are updated Lakshmi Vilas Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 2.50%
15 days to 30 days 2.50%
31 days to 60 days 2.50%
61 days to 90 days 2.75%
91 days to 180 days 2.75%
181 days to 269 days 3.00%
270 days to 364 days 3.50%
365 days to 540 days 5.00%
541 days to 730 days 6.00%
731 days to 3 years 4.75%
3 years to 10 years 5.50%

Lakshmi Vilas Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Lakshmi Vilas Bank offers a higher interest rate to senior citizens than the general public. Listed below are the Lakshmi Vilas Bank fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 14 days 2.50%
15 days to 30 days 2.50%
31 days to 60 days 2.50%
61 days to 90 days 2.75%
91 days to 180 days 2.75%
181 days to 269 days 3.50%
270 days to 364 days 4.00%
365 days to 540 days 5.50%
541 days to 730 days 6.50%
731 days to 3 years 5.25%
3 years to 10 years 6.00%

Best FD Plan as per Lakshmi Vilas Bank FD Rates

To invest in Lakshmi Vilas Bank fixed deposit, you must compare Lakshmi Vilas Bank Fixed Deposit Rates for varying tenures. Lakshmi Vilas Bank FD Interest Rates 2021 are best for the deposits with a tenure of 1 year 5 months 26 days to 2 years, wherein the current Lakshmi Vilas Bank Fixed Deposit Interest Rates is 6.00 p.a.

If you are looking to invest in short term deposits with Lakshmi Vilas Bank, the interest rate of Lakshmi Vilas Bank for FD ranges from 2.50% p.a. to 3.50% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Lakshmi Vilas Bank Fixed Deposit Rates for senior citizens range from 2.50% to 4.00% p.a.

If you want to invest in long term deposits, Lakshmi Vilas Bank Fixed Deposit Rates with tenure ranging from 5 years to 10 years are a good choice with interest rates on deposits at 5.50%.Lakshmi Vilas Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of6.00% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in Lakshmi Vilas Bank:

  • Interest on deposit is paid only at the time of the maturity
  • Lakshmi Vilas Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Lakshmi Vilas Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Lakshmi Vilas Bank FD account prematurely, however Lakshmi Vilas Bank charges a penalty of for premature withdrawal. Also, The penal provisions for premature closure on Lakshmi Vilas Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Lakshmi Vilas Bank

Lakshmi Vilas Bank offers loans up to 0% against its own deposit. Note that Lakshmi Vilas Bank will not give you loan against FD of any other bank. Lakshmi Vilas Bank offers Loan against FD at the rate of 3.5% to 7%

FD Account Opening Process at Lakshmi Vilas Bank

To open an Lakshmi Vilas Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Lakshmi Vilas Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Lakshmi Vilas Bank FD after reading the terms and conditions.

To open a Fixed Deposit account in Lakshmi Vilas Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Lakshmi Vilas Bank FD after reading the terms and conditions.

Nomination Facility on Lakshmi Vilas Bank FD

Lakshmi Vilas Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Lakshmi Vilas Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

FAQs

What is the highest fixed deposit interest rate for Lakshmi Vilas Bank?

You can earn a maximum interest of 6.00% on Lakshmi Vilas Bank fixed deposit.

Are there any special rates for senior citizens FD of Lakshmi Vilas Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.50% to 6.00%. Compared to this, Lakshmi Vilas Bank senior citizens FD are in the range of 2.50% to 6.50%.

What are the current Lakshmi Vilas Bank FD interest rates 2021?

Current interest for FD in Lakshmi Vilas Bank ranges between 2.50% - 6.00%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Lakshmi Vilas Bank?

The minimum deposit amount required to book an FD with Lakshmi Vilas Bank is .

Is it possible to change the tenure of my existing fixed deposit account with Lakshmi Vilas Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Lakshmi Vilas Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Lakshmi Vilas Bank?

Yes, you can submit your application for opening an FD account on the website of Lakshmi Vilas Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Lakshmi Vilas Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 6.00%. For Lakshmi Vilas Bank FD the number of years in which your FD will get doubled is; 72/6.00 = 12

What is the interest of 1 lakh in the Lakshmi Vilas Bank?

The interest on Lakshmi Vilas Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the Lakshmi Vilas Bank FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 14 days 2.50%
15 days to 30 days 2.50%
31 days to 60 days 2.50%
61 days to 90 days 2.75%
91 days to 180 days 2.75%
181 days to 269 days 3.00%
270 days to 364 days 3.50%
365 days to 540 days 5.00%
541 days to 730 days 6.00%
731 days to 3 years 4.75%
3 years to 10 years 5.50%


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Lakshmi Vilas News - Jul 2021
  • 2020-12-21 : Revised FD rates for Lakshmi Vilas Bank
    Lakshmi Vilas Bank revised its Fixed deposit rate with effect from 9 December 2020. The revised rate for 7 to 60 days 2.50%, the rate for 61 to 180 days is 2.70%, and it stands at 3% for 181 to 269 days. Further, the FD rates for 270 to 364 days is 3.50%, for 365 to 1 year 364 days it is 5% and stands at 4.75% for 2 years to 2years 11 months and 29 days. Th FD rate for 3 years to 10 years is 5.50%.
  • 2020-12-01 : Lakshmi Vilas Bank customers can access all services
    DBS Bank India announced that customers of the merged bank Lakshmi Vilas Bank can continue to access all banking services. DBS Bank further clarified that the interest rates on savings and fixed deposits are unchanged.
*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
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