Lakshmi Vilas Bank hikes domestic term deposit rates

Raised interest rates on one-year deposits by 50 bps to 10%

Lakshmi Vilas Bank today said it has increased interest rates on domestic term deposits by 25-50 basis points. The rate hike is effective from Wednesday.

 

The private lender has raised interest rates on one-year deposits by 50 basis points to 10%, while for deposits above one year but less than two years the interest rate has been revised to 9.50% from 9.25%. The bank has also raised rates on deposits for more than two years and up to five years by 25 basis points.