Private sector Lakshmi Vilas Bank has revised its interest rates for term deposits that will be effective from May 9.
The existing interest rates for 15-29 and 30-45 days period has not been raised from the present 3.25 and 3.75%, respectively for both regular and senior citizens.
However, for term deposits with maturity period of 46-90 days, the interest rates have been revised from 4.25% to six%, Lakshmi Vilas Bank said in a statement.
The interest rates for term deposits having a maturity period 91-180 days (nine%), 181-270 days (9.25%), 271-364 days (9.30%), one year but less than two years (10.10% (regular) and 10.25% (senior citizens).
Interest rates for term deposits with maturity period of two years but less than three years (9.75% for regular and 10.50% for senior citizens), three years and up to five years 9.50% (for regular), 10.25% (for senior citizens) were not changed, it said.
For term deposits where maturity period is above five years, the interest rates were changed from 7% to 9% for regulars and 7.75% to 9.75% for senior citizens, the statement added.
