Private sector lender Dhanlaxmi Bank hikes fixed deposit rates: Details inside

Dhanlaxmi Bank, a private sector lender, raised interest rates on fixed deposits under ₹2 crore.

According to the bank's official website, the revised rates are effective as of 20.07.2022. 

The bank raised interest rates on fixed deposits with maturities of 555 and, 1111 days in response to the amendment. 

Fixed deposits maturing in 91 days to less than one year will continue to offer an interest rate of 4.50% 

Fixed deposits maturing in 1 year and above up to & inclusive of 2 years will continue to fetch an interest rate of 5.15%.

Deposits made for more than two years up to and including three years will continue to pay interest at a rate of 5.30 per cent

Dhanlaxmi Bank increased interest rates on term deposits maturing in 555 days from 5.55 per cent to 5.80 per cent.

while deposits made for more than three years up to and including five years will continue to give interest at a rate of 5.40 per cent.

On deposits maturing in 5 years up to and including 10 years, the bank will continue to pay an interest rate of 5.50 per cent.