CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Lakshmi Vilas Bank offers attractive fixed deposit rates. Fixed deposits can be opened online or by visiting the nearest branch. Lakshmi Vilas Bank Fixed deposit rates vary with the amount invested and the tenure. The rates are also different for non-withdrawable deposits and recurring fixed deposits.
What is a fixed deposit?
A fixed deposit is a type of investment that is used by most people wherein, one can deposit a desired amount of money for a certain period of time and earn an interest on the same. Fixed deposits are offered to people by many banks and Non-Banking Financial Companies (NBFCs). The tenures on fixed deposits generally range from 7 days to 10 years or more in some cases. The money deposited for this period earns an interest and is given back to the person after the tenure has ended. This is a financial tool that gets guaranteed returns.
You can deposit your desired amount at Lakshmi Vilas Bank fixed deposit account for a period of time that typically ranges from 15 days to 10 years. The minimum amount that can be deposited in a Lakshmi Vilas account is Rs.100. The bank offers competitive interest rate on fixed deposits. The interest earned on the fixed deposit will attract the TDS as applicable.
Apart from the regular fixed deposit scheme, Lakshmi Vilas Bank provides three different fixed deposit schemes catering to the needs of the customers. One can choose a fixed deposit scheme that is convenient based on personal needs. The three schemes are Dhanachakra deposit, Lakshmi freedom deposit, Lakshmi tax saver deposit.
About Lakshmi Vilas Bank Fixed Deposit Rate
Lakshmi Vilas Bank fixed deposit duration ranges from 15 days to 10 years. It gives guaranteed regular monthly or quarterly income. The minimum amount that can be deposited is Rs.100 and there is no maximum amount. This fixed deposit can be opened individually or jointly. Quarterly payment of interest is given to the customer or at discounted value monthly. Loan can be available against this fixed deposit. Nomination facility is available.
Dhanachakra deposit has automatic compounding of accrued interest that gives higher returns. The deposit duration ranges from 1 year to 10 years. The minimum amount one can deposit is Rs.100 and there is no maximum limit. Individual, joint or deposit in the name of minors can be made. Loan can be available against this fixed deposit. Nomination facility is available.
Lakshmi Freedom Deposit
Under this scheme, if the minimum balance is above Rs.5000/- then the system will look at the possibility of transferring Rs 5000/- and multiples of Rs 5000/- automatically, to LFD (Lakshmi Freedom Deposit) for a period of 46 days. On maturity of the deposit (46 days), it will automatically be renewed for another 46 days. If no sweep occurs within that deposit period, then the entire deposit is renewed.
Lakshmi Tax saver deposit
This scheme is made to help the customer save on taxes and also get high interest rates on the deposits. It has a fixed deposit duration of 5 years. The minimum amount that can be deposited is Rs.100 and the maximum amount allowed is Rs.1,50,000. The deposit can be opened individually or jointly. If applied for jointly, then the first holder of the deposit is only eligible for the tax deduction. Interest payment can be done monthly, quarterly, half yearly, yearly or along with the deposit on maturity. Nomination facility is available.
The rate of interest paid on a fixed deposit varies according to the amount deposited, period and the issuing bank. Lakshmi Vilas Bank interest rates typically ranges from 4.50% to 8% per annum.
Lakshmi Vilas Bank Fixed Deposit rates
Following is an overview of Lakshmi Vilas Bank Fixed Deposit Rates as of 03.11.2018
(Do keep in mind that these rates can change at any time and can be changed at the sole discretion of the Bank. For the latest rates, it is advisable to check with Lakshmi Vilas Bank directly.)
Deposit below Rs.1 crore:
Deposits above Rs.1 crore
Senior Citizens Deposits:
You can use online resources to calculate the interest accrued on your Lakshmi Vilas Bank FD. There are several online sites that allow you to instantly calculate the interest earned. All you have to do is enter the FD amount, tenure and rate of interest and the calculator will do the hard number crunching and present you with a breakup of the interest earned and the maturity amount
You can enter as many combinations as you want, and the calculator will give you instant and accurate results.
You can also calculate the interest earned and the maturity value on the principal amount using the following formula.
The following is the formula to calculate the interest earned in a Fixed Deposit account:
Calculate Lakshmi Vilas Bank FD Rate
A = P x (1 + r/n)nt
I = A - P
A = Maturity Value
P = Principal Amount
r = Rate of Interest
t = Number of Years
n = Compounded Interest Frequency
I = Interest Earned
For all pre-closure including deposits closed for reinvestment purposes, bank will pay the rate applicable for the period the deposit remained, or from the contracted rate, whichever is lower, after deducting 1%. However, the penalty for premature withdrawal/closure of deposits is not applicable in the case of single deposits of Rs.1 crore & above
Credit Report Analysis,Website/app interface,Usefulness of information,Product offers,
Allahabad Bank Fixed Deposit Rate
Andhra Bank Fixed Deposit Rate
Axis Bank Fixed Deposit Rate
Bandhan Bank Fixed Deposit Rate
Bank Of Baroda Fixed Deposit Rate
Bank Of Maharashtra Fixed Deposit Rate
Canara Bank Fixed Deposit Rate
Central Bank Of India Fixed Deposit Rate
Citibank Fixed Deposit Rate
City Union Bank Fixed Deposit Rate
Corporation Bank Fixed Deposit Rate
DCB Bank Fixed Deposit Rate
Deutsche Bank Fixed Deposit Rate
Dhanlaxmi Bank Fixed Deposit Rate
Federal Bank Fixed Deposit Rate
HDFC Bank Fixed Deposit Rate
ICICI Bank Fixed Deposit Rate
IDBI Bank Fixed Deposit Rate
Indian Bank Fixed Deposit Rate
Indian Overseas Bank Fixed Deposit Rate
IndusInd Bank Fixed Deposit Rate
Jammu Kashmir Bank Fixed Deposit Rate
Karnataka Bank Fixed Deposit Rate
Karur Vysya Bank Fixed Deposit Rate
Kotak Mahindra Bank Fixed Deposit Rate
Oriental Bank Of Commerce Fixed Deposit Rate
Punjab National Bank Fixed Deposit Rate
Punjab Sind Bank Fixed Deposit Rate
RBL Bank Fixed Deposit Rate
SBI Fixed Deposit Rate
South Indian Bank Fixed Deposit Rate
State Bank Of Travancore Fixed Deposit Rate
SVC Bank Fixed Deposit Rate
Syndicate Bank Fixed Deposit Rate
Tamilnad Mercantile Bank Fixed Deposit Rate
UCO Bank Fixed Deposit Rate
Union Bank Of India Fixed Deposit Rate
Vijaya Bank Fixed Deposit Rate
YES Bank Fixed Deposit Rate
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.