Lakshmi Vilas Bank has changed the interest rates on term deposits having a maturity of 1-2 years. The new rates are effective from 16th July 2012.
The bank was previously offering 10% card rate on fixed deposits for one year to two years, which was 0.25% higher for senior citizens. The rates have been reduced by 20 basis points to 9.80% for general citizens and 10.05% for senior citizens. The rates are also applicable on Non-Residen External (NRE) deposits for the same maturity. New deposits will fetch 9.8% against 10% previouslty. |
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