Interest Rate News Update: The Reserve Bank of India (RBI) increased the repo rate this month. After the increase of 40 basis points i.e. 0.40% in the repo rate, while the interest rate on loans is increasing, the interest rates on bank deposits have also started increasing. In this episode, now the private sector Dhanlaxmi Bank has increased the interest rates on term deposits. The new rates have come into effect from May 26, 2022. Dhanalakshmi Bank Limited was established in 1927 in Thrissur (Kerala). This bank is 94 years old with 533 touch points across the country. 26 May The bank has increased interest rates on domestic and non-residential term deposits of less than Rs 2 crore.
After the revision of rates by the bank, now it will continue to offer 3.25% interest rate on deposits for 7 to 45 days. Also, the bank will continue to offer an interest rate of 3.75% on deposits maturing in 46 days to 90 days.
Earlier, the interest rate on term deposits from 91 days to 179 days was 4%, but it has been increased by 50 bps to 4.50 percent, while from 180 days to less than one year, the interest rate has been increased from 4.25 to 0.25 percent to 4.50% Is.
Dhanlaxmi Bank FD Rates
(Domestic and Non-Residential Term Deposits – with effect from May 26, 2022)
- 7 to 14 days – 3.25 percent
- 15 to 45 days – 3.25 percent
- 46 to 60 days – 3.75 percent
- 61 to 90 days – 3.75 percent
- 91 to 179 days – 4.50 percent
- 180 days to less than 1 year – 4.50 percent
- 1 year to 2 years – 5.15 percent
- 555 days – 5.55 percent
- 2 years 1 day to 3 years – 5.30 percent
- 3 years 1 day to 5 years – 5.40 percent
- 1111 days to 10 years – 5.75 percent
- 5 years 1 day to 10 years – 5.50 percent
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