Dhanlaxmi Bank revises FD rates, now offers up to 7.25% on a tenor of 555 days | Mint
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Business News/ Industry / Banking/  Dhanlaxmi Bank revises FD rates, now offers up to 7.25% on a tenor of 555 days
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Dhanlaxmi Bank revises FD rates, now offers up to 7.25% on a tenor of 555 days

The private sector lender Dhanlaxmi Bank has revised interest rates on fixed deposits of less than ₹2 Cr.

The total business of Dhanlaxmi Bank surged by 15.71% in the second quarter of FY23 to reach Rs. 21,857 crore, while deposits climbed by 6.96% to Rs. 12,748 crore.Premium
The total business of Dhanlaxmi Bank surged by 15.71% in the second quarter of FY23 to reach Rs. 21,857 crore, while deposits climbed by 6.96% to Rs. 12,748 crore.

The private sector lender Dhanlaxmi Bank has revised interest rates on fixed deposits of less than 2 Cr. As per the official website of the bank, the new rates are effective as of today 8.12.2022. After the modification, the bank is now providing deposits with maturities ranging from 7 days to 10 years with interest rates ranging from 3.25% to 6.10%. Deposits maturing in 555 days will now get a maximum interest rate of 7.25% from Dhanlaxmi Bank.

Dhanlaxmi Bank Latest FD Rates

The bank now promises an interest rate of 3.25% on deposits that mature in the next 7 days to 45 days, while Dhanlaxmi Bank will now give an interest rate of 3.75% on deposits that mature in the next 46 days to 90 days. Dhanlaxmi Bank will now offer an interest rate of 4.50% on FDs maturing in 91 days to less than one year and the bank is now promising an interest rate of 6.25% on those maturing from 1 year and above upto & inclusive of 2 years.

Deposits maturing in 555 days will fetch an interest rate of 7.25% and those maturing from above 2 years upto & inclusive of 3 years will now fetch an interest rate of 6.00%. The bank is now paying an interest rate of 6.10% on deposits maturing from above 3 years up to & inclusive of 5 years, while Dhanlaxmi Bank will give an interest rate of 6.25% on deposits maturing in 1111 days. On deposits maturing from more than five years up to and including ten years, Dhanlaxmi Bank will give an interest rate of 6.10%.

Dhanlaxmi Bank Latest FD Rates
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Dhanlaxmi Bank Latest FD Rates (dhanbank.com)

Dhanlaxmi 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."

The total business of Dhanlaxmi Bank surged by 15.71% in the second quarter of FY23 to reach Rs. 21,857 crore, while deposits climbed by 6.96% to Rs. 12,748 crore. Retail deposits jumped by 6% to achieve Rs. 6382 Crore and CASA increased by 8.21% to reach Rs. 4324 Crore. Dhanlaxmi Bank reported over 520 customer touchpoints in the quarter that ended in September 2022 or Q2FY23, including 247 branches, 263 ATMs, and 17 BCs. Its branch presence reached 58 in metro areas, 63 in urban areas, 107 in semi-urban areas, and 19 in rural areas.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 08 Dec 2022, 02:31 PM IST
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