Lakshmi Vilas Bank Term Deposit Rates

What is the Lakshmi Vilas Bank Fixed Deposit interest rates, will you please provide here & also give more details related to Lakshmi Vilas Bank Fixed Deposit???

[Quick Sam]

Lakshmi Vilas Bank Fixed Deposit details are as given below:

Features
Deposit period ranges from 15 days to 10 years with assured regular Monthly/ Quarterly income.

Minimum Deposit Amount is Rs. 100/- with no ceiling for the maximum amount.

Deposit account can be opened individually/ jointly and also in the name of minors.

Quarterly payment of interest or at discounted value at monthly rests.

Loan facility and Nomination facility available

Interest rates:



Required documents to apply;

Keep your KYC documents - PAN card, address proof and photo ready.
In case you already hold an account with Lakshmi Vilas Bank, you don’t need to submit KYC documents again.

What are the fixed deposit schemes available with Lakshmi Vilas Bank as well as the Deposit Rates for those schemes?

[Quick Sam]

The Fixed Deposit schemes available at Lakshmi Vilas bank are as follows:

Dhanachakra Deposit Scheme:

Salient Features of the Deposit Scheme are:

• Deposit period ranges from 1 year to 10 years
• Minimum Deposit is Rs.100/- with no ceiling for the maximum
• Individual Deposit/ Joint Deposit / Deposit in the name of Minors can be made.
• Loan facility / Nomination facility available.

Lakshmi Tax Saver Deposit Scheme:

Salient Features of the Deposit Scheme are:

• It is not only the best way to save taxes but also the only way to get highest rates on deposits 8.20% (senior citizen 8.20% p.a) with effect from 08.10.2015
• Fixed Deposit Tenure of 5 Years
• Minimum Deposit Amount is Rs.100 /- and maximum Amount is Rs.1,50,000/-
• Deposit account can be opened individually/ jointly. However the deduction from income under section 80 C of the act shall be available only to the first holder of the deposit.
• Fixed deposit with interest payment on monthly, quarterly, half yearly or yearly stretch. (or) Cumulative deposit with interest payable along with maturity.
• Tax benefit available up to a maximum limit of Rs.1,50,000/- under Sec 80 C.
• Nomination facility available.

Interest rate applicable for deposit below Rs.1 Crs, with effect from 08.10.2015

Card Rates (% Per Annum)
Maturity Period

Regular

Senior Citizen
(Not applicable for RD and NRO)

7-14 days

5.00

5.00

15-29 days

5.25

5.25

30-45 days

6.00

6.00

46-90 days

7.00

7.00

91-180 days

7.20

7.20

181-270 days

7.50

7.50

271-364 days

7.80

7.80

1 year and above & less than 3 years

8.10

8.60

3 year and above & less than 5 years

8.25

8.75

5 years and above

8.20

8.70

* Senior citizen interest rate benefits is not applicable for NRO deposit and Recurring Deposits.


Deposit

Regular

Senior Citizen

Lakshmi Tax Saver Deposits - w.e.f 08.10.2015

8.20%

8.20%

Address:

The Lakshmi Vilas Bank Ltd.
Registered Office,
Salem Road,Kathaparai, Karur - 639006
Tamil Nadu.
LL: 04324 - 220051 (10 lines)
FAX: 04324 - 223607
Email: secretarial@lvbank.in

Please find a file attached below which has the rules for deposit schemes.

Sir I am looking for the Lakshmi Vilas Bank Term Deposit Rates so can you please provide me the same

[Shaleen]

Hey buddy The fixed deposit interest rates offered by Lakshmi Vilas Bank depend on the duration of the deposit and the type of deposit.

Domestic deposits can earn an interest rate of 5.5% per annum to 8.75% per annum on deposits held for 15 days to 364 days. For deposits held from 1 year to 2.5 years the interest rate is 8.80% per annum and 9% per annum for deposits held for 900 days.

Long term deposits of 901 days to just under 5 years earn 8.80% per annum and those above 5 years earn 8.75% per annum.


Below I am giving you the the Lakshmi Vilas Bank Term Deposit Rates for the following accounts


A. Domestic

B. non resident


The rates depends on the following parameters

Normal

Senior Citizen

Rural

Semi Urban

Urban

Metro