Private sector lender, Dhanlaxmi Bank has revised interest rates on its short term as well as medium term fixed deposits.

The short term deposit rates of the bank have been dipped by as much as 0.75%.

Deposits amounting to less than Rs 15 lakh will now have interest of 2.75%. It will also be the same for deposits of more than Rs 15 lakh to Rs 1 crore.

Deposits having tenor of 500 days will now fetch the depositor an interest of 9.5%, which is a 0.50% hike over the previous rate for amount less than Rs 15 lakh. For amount more than Rs 15 lakh, the interest will be 9.60%.

The revised rates are coming to effect from today, April 11, 2011.

Deposits having maturity of 91-179 days will have interest of 6.50%.

Dhanlaxmi Bank's Head, Branch Banking & NRI Business , Salil Datar, said "we have re-aligned our short-term rates in line with market trends. The increase of interest rates on our special medium-term deposit scheme would help our customers to maximise returns on their savings."