Private sector Lakshmi Vilas Bank has revised interest rates on term deposits with a maturity period of over 180 days, with effect from tomorrow.
The revised interest rates have been in the range of 5 to 25 basis points, a bank statement said.
"For deposits which have maturity period of 181-270 days, the new interest rate has been fixed at 8.50 per cent from the existing 8.75 per cent," it said.
For term deposits having a maturity period of 271-364 days, the rate has been revised to 8.75 per cent.
The interest rate is fixed at 9.05 per cent as against the current 9.15 per cent for deposits of one year and above but less than three years.
For senior citizens, rates have been revised to 9.55 per cent for deposits of one year and above but less than three years from the existing 9.65 per cent.
The rate for deposits of three years and up to 10 years has been revised downwards to 9 per cent, as compared with existing 9.25 per cent.
For senior citizens, it has been reduced to 9.50 per cent for deposits of 3 years and up to 10 years from the existing 9.75 per cent, the release said.
