Private sector lender Dhanlaxmi Bank has increased interest rates on fixed deposits with effect from today, February 03, 2011.

The revision has led to a hike up to 50 bps in interest of selected maturities.

The revised rates would be applicable on deposits of Rs 15 lakh to Rs 1 crore, the bank said.

The upper limit of term deposits has also been raised to Rs 1 crore from Rs 50 lakhs earlier.

As per the new structure, deposits having tenor of 180-365 days will attract interest of 8.5% while the 500 days deposit will offer interest of 9.35%.