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Save money while enjoying a higher interest rate with Lakshmi Vilas Bank Recurring Deposits. Lakshmi Vilas Bank Recurring Deposit Interest Rates differ for resident and NRI customers. Lakshmi Vilas Bank Senior Citizen RD Interest Rates are higher.
A Recurring Deposit (RD) is a type of a term deposit that is offered by many banks. It permits the customer to deposit a certain amount of money on a regular basis with the bank and it earns a certain amount of interest on the same. These regular monthly deposits can be made over a certain period. This period to deposit can be chosen by the customer.
The main difference between a Fixed Deposit and a Recurring Deposit is that the RD account allows one to make periodic investments in the deposit that goes on for the entire duration, whereas a fixed deposit, allows one to deposit the entire lump amount at the time they open the Fixed Deposit account.
About Lakshmi Vilas Bank Recurring Deposit Rate
A Recurring Deposit in Lakshmi Vilas Bank enables one to save at regular intervals. There are two Recurring Deposit schemes that are offered to the customers by Lakshmi Vilas Bank. They are Recurring Deposit and Lakshmi Freedom Deposit (LFD).
Features of Recurring Deposit
Features of Lakshmi Freedom Deposit (LFD)
Lakshmi Vilas Bank Recurring Deposit interest rates are like the rates offered for the Fixed Deposit accounts. Following is an overview of Lakshmi Vilas Bank RD interest rates. For the latest and accurate RD interest rates in Lakshmi Vilas Bank, it is advisable to check with the bank directly.
Following is an overview of Lakshmi Vilas Bank Recurring 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.)
You can make use of the Lakshmi Vilas Bank Recurring Deposit Calculator to compute the interest and the maturity that is received on your invested amount. Using an RD calculator is easy as you just need to enter the amount you want to invest monthly, mention the date of opening of RD, the tenure and due date of RD. The calculator will then provide the maturity amount that you get at the time of maturity of the Recurring Deposit.
Using an RD calculator gives you the maturity amount and you can accordingly decide how much you want to invest. You can try various investment amount options and opt for the one that is most suited to your budget and helps achieve your financial goals.
1. What is the minimum amount required to open an RD with Lakshmi Vilas Bank?
The minimum opening balance for a regular recurring deposit with Lakshmi Vilas Bank is Rs. 100.
2. What is the minimum and maximum deposit period?
The minimum deposit tenure is 1 year and can extend up to a maximum of 10 years.
3. Who can open an RD with Lakshmi Vilas Bank?
An individual, two or more persons, minor with a guardian, literate minor of 12 years, Partnership Firm, Joint Stock Company, Clubs, Society and Trusts
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