Dhanlaxmi Bank offers a variety of fixed deposit schemes to individuals both for a short tenure as well as for long tenure. The bank offer different types of schemes with diverse features and attractive interest rates. Let us have a look at the various Dhanlaxmi Bank Fixed Deposit schemes in detail.
Dhanlaxmi Bank FD Rates 2019
|FD Tenure||Dhanlaxmi Bank Fixed Deposit Interest Rate (Less than Rs.1 Crore)|
|Regular Individuals||Senior Citizens|
|7 days to 14 days||4.00%||4.00%|
|15 days to 45 days||4.00%||4.00%|
|46 days to 90 days||5.00%||5.00%|
|91 days to 179 days||5.50%||5.50%|
|180 days to less than one year||6.50%||7.00%|
|1 Year and above up to & inclusive of 2 years||7.25%||7.75%|
|Above 2 years up to & inclusive of 3 years||6.50%||7.00%|
|Above 3 years up to & inclusive of 5 years||6.50%||7.00%|
|Above 5 years up to & inclusive of 10 years||6.50%||7.00%|
Note: Above interest rates are applicable on deposits below ₹ 1 Cr. w.e.f. 01.April.2019
NRE (Non Resident External) Fixed Deposit Interest Rates
|Tenure||Interest Rate (Less than Rs.1 Crore)|
|Above 1 year upto & inclusive of 2 years||7.00|
|Above 2 years upto & inclusive of 3 years||6.50|
|Above 3 years upto & inclusive of 5 years||6.50|
|Above 5 years upto & inclusive of 10 years||6.50|
Note: Above interest rates are applicable on deposits below ₹ 1 Cr. w.e.f. 01-April-2019
FCNR (Foreign Currency Non-Resident) Fixed Deposit Interest Rates*
|FCNR (B) (w.e.f 01.05.2019)|
|1 year & above|
but < 2 years
|2 years & above|
but < 3 years
|3 years & above|
but < 4 years
|4 years & above|
but < 5 years
|For 5 years|
|Rates of Interest (% p.a)|
|RESIDENT FOREIGN CURRENCY – RFC (w.e.f 01.05.2019)|
|6 months and above but less than 1 year||1 years & above|
but less than 2 years
|2 years & above|
but less tahn 3 years
|Rates of Interest (% p.a)|
Types of Dhanlaxmi Bank Fixed Deposit Schemes
- Dhanam Abhivridhi Deposit
- Surabhi Deposit
- Sri Dhana Chakra Deposit
- Cumulative Deposit Certificate (DCDC)
- Dhanam Tax Advantage Deposit
- Senior Citizens Deposit Scheme
- NRI Term Deposit
- Foreign Currency Non-Resident Fixed Deposit
- Accounts for Returning NRIs (Resident Foreign Currency Account)
1. Dhanam Abhivridhi Deposit
Dhanam Abhivridhi is a term deposit product from Dhanlaxmi Bank wherein the deposit amount will become double within a specific period of time. Features & benefits of this deposit scheme are mentioned below:
|Features of Dhanlaxmi Bank Dhanam Abhivridhi Deposit|
|Dhanam Abhivridhi Deposit Eligibility Criteria|
2. Surabhi Deposit
Dhanlaxmi Surabhi Deposit minimizes the loss of interest on premature closure. It comes with a higher initial investment than most of the other deposit schemes and allows higher deposits to the existing term deposit.
|Features of Dhanlaxmi Bank Surabhi Deposit|
|Dhanlaxmi Bank Surabhi Deposit Eligibility Criteria|
3. Sri Dhana Chakra Deposit
With Sri Dhana Chakra Deposit, you are provided with automatic renewal facility of the deposit on maturity. With a relatively higher initial investment, Sri Dhana Chakra allows for deposits with tenure flexibility with no upper limit.
|Features of Dhanlaxmi Bank Sri Dhana Chakra Deposit|
|Dhanlaxmi Bank Sri Dhana Chakra Deposit Eligibility Criteria|
4. Cumulative Deposit Certificate (DCDC)
Dhanlaxmi Bank offers Cumulative Deposit Certificate (DCDC) which offers quarterly interests on the deposit which are then added back to the principal amount. The cumulative quarterly interest amount is paid with the principal amount on maturity of the deposit.
|Features of Cumulative Deposit Certificate|
|Cumulative Deposit Certificate Eligibility Criteria|
5. Dhanam Tax Advantage Deposit
Dhanam Tax Advantage Deposit offers tax exemption under Section 80C of the Income Tax Act, 1961.
|Features of Dhanam Tax Advantage Deposit|
|Dhanam Tax Advantage Deposit Eligibility Criteria|
6. Senior Citizens Deposit Scheme
Senior Citizen Deposit Scheme is crafted to provide senior citizens with additional benefits through a preferential rate of interest over the normal interest rate.
|Features of Senior Citizens Deposit Scheme|
|Senior Citizens Deposit Scheme Eligibility Criteria|
7. NRI Recurring Deposit & Term Deposit
Dhanlaxmi Bank provides its NRI customers with the benefit of easy investments to earn high returns on their term deposits. With the dual benefits of recurring deposits and term Deposits, you can choose to invest fixed amount monthly. On maturity, the principal and interest amount is transferred to a term deposit to earn interest as per the prevalent interest rates.
|Features of NRI Recurring Deposit & Term Deposit|
|NRI Recurring Deposit & Term Deposit Eligibility Criteria|
8. Foreign Currency Non-Resident Fixed Deposit
The Foreign Currency Non-Resident (FCNR) Deposit Account is better than NRO and NRE accounts as it can be opened in five different currencies. But, these accounts cannot be in the form of savings account or current accounts, and must be in the form of term deposits only. FCNR deposits can avail the same tax exemptions as NRE accounts.
|Features of Foreign Currency Non-Resident Fixed Deposit|
|Foreign Currency Non-Resident Fixed Deposit Eligibility Criteria|
9. Accounts for Returning NRIs (Resident Foreign Currency Account)
If you are an NRI and have decided to relocate back to India, Dhanlaxmi Bank offers you a structured deposit scheme which can help you minimise the income tax liability and ensure a well-designed allocation of funds and assets. However, you can still hold, own, transfer or invest in foreign currency, foreign securities or any immovable property abroad if the investments were made when you were located abroad.
You can opt to open a Resident Foreign Currency account (RFC) in India, which will enable you to transfer balances held in Non-Residential External account (NRE) or Foreign Currency Non-Resident Deposit (FCNR) on returning to India.
|Features of Accounts for Returning NRIs (Resident Foreign Currency Account)|
|Accounts for Returning NRIs (Resident Foreign Currency Account) Eligibility Criteria|
Documents Required for Dhanlaxmi Bank Fixed Deposit
An applicant has to provide following documents to open Dhanlaxmi Bank Fixed Deposit account:
|Documents Required for Dhanlaxmi Bank Fixed Deposit|
|Passport size photograph|
|Proof of Identity|
PAN card (mandatory)
Driving license, etc.
|Proof of Residence|
Utility bills (electricity, water, telephone, and gas)
Bank account statement
Driving license, etc.
Dhanlaxmi Bank Fixed Deposit Calculator
Individuals looking out for making investment in fixed deposits can check the maturity amount of the investment they are planning by using the Dhanlaxmi Bank FD Interest Rate Calculator at Paisabazaar. Investors can check their maturity amount by just providing their investment amount, Dhanlaxmi Bank FD interest rate and tenure. This can help you make an informed decision about your investment.
How to Apply for Dhanlaxmi Bank Fixed Deposit
An applicant can apply for Dhanlaxmi Bank Fixed Deposit scheme by visiting the Dhanlaxmi Bank’s official website, navigating to the fixed deposit section and clicking on the “Apply” button to open a fixed deposit online. Applicants can also opt to visit the branch to enquire about the fixed deposit schemes offered by the bank and open one as well.