Private sector lender, Lakshmi Vilas Bank has announced increase in interest rates of fixed deposits. The revised rates are to come to effect from today, May 09, 2011.

The interest rates for deposits having tenor of 15-29 days and 30-45 days do not see any change and stand at 3.25 and 3.75% respectively.

For deposits of 46-90 days tenor, the interest rate stands at 6% following revision.

Deposits having tenor of 91-180 days will now have interest of 9%, while the 181-270 days deposit will fetch the depositor an interest of 9.25%.

Interest for 271-364 days has been raised to 9.3% and that of 1 year to less than 2 years tenor has been raised to 10.10%.

The deposits maturing in a period between 2 years to less than 3 years will have interest of 9.75% while that in between 3 years to less than 5 years will have interest of 9.5%.