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Dhanlaxmi Bank Makes Interest Rate Revision On Fixed Deposits: Check Details
Dhanlaxmi Bank, a private sector lender, has adjusted interest rates on domestic term deposits of less than Rs 2 crore. According to the bank's website, the new interest rates are effective as of 1st May 2022.
Dhanlaxmi Bank Term Deposits-Domestic & NRO Deposits Interest Rates
The bank is giving a 3.25 per cent interest rate on deposits of less than Rs 2 crore maturing in 7 to 45 days as of May 1, 2022. The bank is currently offering a 3.75 per cent interest rate on deposits maturing in 46 days to 90 days. Dhanlaxmi Bank is currently giving a 4.00 per cent interest rate on term deposits due in 91 days to 179 days, and a 4.25 per cent interest rate on deposits maturing in 180 days to less than one year. Dhanlaxmi Bank now offers an interest rate of 5.15 per cent on deposits maturing in 1 year and above up to and including 2 years, 5.30 per cent on deposits maturing from above 2 years up to and including 3 years, 5.40 per cent on deposits maturing from above 3 years up to and including 5 years, 5.45 per cent on deposits maturing in 1100 days, and 5.50 per cent on deposits maturing from above 5 years up to and including 10 years.
| Term Deposits (All Maturities) | Rates of Interest (Less than Rs.2 Crore) |
|---|---|
| 7 days to 14 days | 3.25 |
| 15 days to 45 days | 3.25 |
| 46 days to 60 days | 3.75 |
| 61 days to 90 days | 3.75 |
| 91 days to 179 days | 4 |
| 180 days to less than one year | 4.25 |
| 1 Year and above up to & inclusive of 2 years | 5.15 |
| Above 2 years up to & inclusive of 3 years | 5.3 |
| Above 3 years up to & inclusive of 5 years | 5.4 |
| 1100 days | 5.45 |
| Above 5 years up to & inclusive of 10 years | 5.5 |
| Source: Bank Website |
Dhanlaxmi Bank FD Rates For Senior Citizens
The bank has mentioned on its website that "Senior citizens are eligible for an additional interest rate of 0.50% p.a. for all domestic term deposits of 1 year and above except for Dhanam Tax Advantage deposits." W.e.f. 1st May 2022, senior citizens are eligible to get the following interest rates on their deposits.
| Term Deposits (All Maturities) | Rates of Interest (Less than Rs.2 Crore) |
|---|---|
| 7 days to 14 days | 3.25 |
| 15 days to 45 days | 3.25 |
| 46 days to 60 days | 3.75 |
| 61 days to 90 days | 3.75 |
| 91 days to 179 days | 4 |
| 180 days to less than one year | 4.25 |
| 1 Year and above upto & inclusive of 2 years | 5.65 |
| Above 2 years upto & inclusive of 3 years | 5.8 |
| Above 3 years upto & inclusive of 5 years | 5.9 |
| 1100 days | 5.95 |
| Above 5 years upto & inclusive of 10 years | 6 |
| Source: Bank Website |
Dhanlaxmi Bank NRE Deposit Interest Rates
The bank is now giving the following interest rates on NRE deposits of less than Rs 2 crore, effective as of 01.05.2022.
| NRE (All Maturities) (w.e.f 01.05.2022) | Rates of Interest (Less than Rs.2 Crore) |
|---|---|
| Above 1 year upto & inclusive of 2 years | 5.15 |
| Above 2 years upto & inclusive of 3 years | 5.3 |
| Above 3 years upto & inclusive of 5 years | 5.4 |
| 1100 days | 5.45 |
| Above 5 years upto & inclusive of 10 years | 5.5 |
| Source: Bank Website |
Dhanlaxmi Bank MCLR Rates
Dhanlaxmi Bank has also revised its tenor-based MCLR effective as of 1st May 2022. "Effective from 01.04.2016, all rupee loans sanctioned/ disbursed and credit limits renewed will be priced with reference to the MCLR. MCLR is subject to monthly review and the rates given below will be effective till next review," the bank has mentioned on its website.
| Tenor | MCLR (%) p.a. |
|---|---|
| Overnight MCLR | 7.30% |
| 2 days to 1 month MCLR | 7.30% |
| Over one month to three months MCLR | 8.20% |
| Over three months to six months MCLR | 8.50% |
| Over six months to one year MCLR | 8.70% |
| Source: Bank Website |
