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Lakshmi Vilas FD Interest Rates 2022

Lakshmi Vilas Bank Fixed Deposit Interest Rate: Today

Last Updated 12th Jan 2022

When it comes to the FD interest rate, the highest rate offered on Lakshmi Vilas Bank FD is 5.65%. Latest Lakshmi Vilas Bank FD interest rate for senior citizens, on the other hand, ranges between 2.50% to 6.15%.You can earn up to ₹ 28,250 per lakh by investing some money in a fixed deposit account.

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
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 7.05% 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 10 years.
  • Interest Rate Range : 2.50% p.a. to 5.65% p.a.
  • Senior Citizens FD Rate : 2.50% p.a to 6.15% p.a.
  • Highest Interest Rate : As per today’s rate, Lakshmi Vilas Bank’s highest interest rate on FD is 5.65% offered for a tenure of 10 years.
  • 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 2022:

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 5.15%
731 days to 3 years 5.25%
3 years to 10 years 5.65%

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. Fixed deposit interest rates for senior citizens in Lakshmi Vilas Bank 2022 are as follows:

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 5.65%
731 days to 3 years 5.75%
3 years to 10 years 6.15%

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.

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.

Earn upto ₹ 28,250 Per Lakh on Lakshmi Vilas Bank Fixed Deposit?

To earn ₹ 28,250 per lakh on an online FD for 60 months:-

  • Investment Amount - ₹ 1,00,000
  • FD Interest Rate - 5.65%
  • Tenure - 60 months
  • Calculation formula - Simple interest
  • Interest Payout - ₹ 28,250
  • FD Maturity Amount - ₹ 1,28,250

Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.

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.

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 6.65%


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

You can earn a maximum interest of 5.65% on Lakshmi Vilas Bank fixed deposit deposits for a tenure of 10 months.

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 5.65%. Compared to this, Lakshmi Vilas Bank senior citizens FD are in the range of 2.50% to 6.15%.

What are the current Lakshmi Vilas Bank FD interest rates 2022?

Current interest for FD in Lakshmi Vilas Bank ranges between 2.50% - 5.65%. for different tenure.The highest rate is offered on a tenure 6.15 months/years. For senior citizens the interest rates ranges bweteen 2.50% - 6.15%.

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 and there is no limit for maximum amount.

Did Lakshmi Vilas Bank increase FD rates in 2022?

No, Lakshmi Vilas Bank has reduced its Fixed Deposit rates by upto 0.35%. The best rate on Lakshmi Vilas Bank FD has been cut to 5.65% from 6.00% earlier. The fixed deposit rates of Lakshmi Vilas Bank are now in the range of 2.50% to 5.65% with effect from 06 Oct, 2021.

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 5.65%. For Lakshmi Vilas Bank FD the number of years in which your FD will get doubled is; 72/5.65 = 13

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. The highest interest rate is 5.65% for tenure and banks offer senior citizens little more, which is 6.15%.

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Lakshmi Vilas News - Jan 2022
  • 2021-09-16 : RBI Moves Laxmi Vilas Bank Under a Moratorium
    Reserve Bank of India has placed Laxmi Vilas Bank under a 1-month moratorium. The central bank has restricted withdrawal amounts to Rs 25,000 per customer from any savings or deposit account. The moratorium period ends on November 26, 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.
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