Lakshmi Vilas Bank revises term deposit interest rates

Private sector Lakshmi Vilas Bank has revised its interest rates for term deposits that will be effective from May 9.

The existing interest rates for 15-29 and 30-45 days period has not been raised from the present 3.25 and 3.75%, respectively for both regular and senior citizens.

However, for term deposits with maturity period of 46-90 days, the interest rates have been revised from 4.25% to six%, Lakshmi Vilas Bank said in a statement.

The interest rates for term deposits having a maturity period 91-180 days (nine%), 181-270 days (9.25%), 271-364 days (9.30%), one year but less than two years (10.10% (regular) and 10.25% (senior citizens).

Interest rates for term deposits with maturity period of two years but less than three years (9.75% for regular and 10.50% for senior citizens), three years and up to five years 9.50% (for regular), 10.25% (for senior citizens) were not changed, it said.

For term deposits where maturity period is above five years, the interest rates were changed from 7% to 9% for regulars and 7.75% to 9.75% for senior citizens, the statement added.