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Dhanlaxmi Bank Makes Interest Rate Revision On Fixed Deposits: Check Details

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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
 

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 days3.25
15 days to 45 days3.25
46 days to 60 days3.75
61 days to 90 days3.75
91 days to 179 days4
180 days to less than one year4.25
1 Year and above up to & inclusive of 2 years5.15
Above 2 years up to & inclusive of 3 years5.3
Above 3 years up to & inclusive of 5 years5.4
1100 days5.45
Above 5 years up to & inclusive of 10 years5.5
Source: Bank Website 
Dhanlaxmi Bank FD Rates For Senior Citizens

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 days3.25
15 days to 45 days3.25
46 days to 60 days3.75
61 days to 90 days3.75
91 days to 179 days4
180 days to less than one year4.25
1 Year and above upto & inclusive of 2 years5.65
Above 2 years upto & inclusive of 3 years5.8
Above 3 years upto & inclusive of 5 years5.9
1100 days5.95
Above 5 years upto & inclusive of 10 years6
Source: Bank Website 
Dhanlaxmi Bank NRE Deposit Interest Rates

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 years5.15
Above 2 years upto & inclusive of 3 years5.3
Above 3 years upto & inclusive of 5 years5.4
1100 days5.45
Above 5 years upto & inclusive of 10 years5.5
Source: Bank Website 
Dhanlaxmi Bank MCLR Rates

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.

TenorMCLR (%) p.a.
Overnight MCLR7.30%
2 days to 1 month MCLR7.30%
Over one month to three months MCLR8.20%
Over three months to six months MCLR8.50%
Over six months to one year MCLR8.70%
Source: Bank Website 

Story first published: Tuesday, May 10, 2022, 11:47 [IST]
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