A recent press report said that Lakshmi Vilas Bank has revised its interest rates for term deposits. The was founded in 1926 by seven people of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar, to cater to the financial needs of varied customer segments. The bank offers home loan, personal loan, auto loan, busiess loans etc.
The bank has not changed the interest rates of regular and senior citizens which is 3.25 and 3.75 per cent for 15-29 and 30-45 days respectively. However, for term deposits with maturity period of 46-90 days, the interest rates have been revised from 4.25 per cent to six per cent.
The bak announced the following changes in its interest rates.
| S.no | Maturity period | Interst rates |
| 1 | 91-180 days | 9 per cent |
| 2 | 181-270 days | 9.25 per cent |
| 3 | 271-364 days | 9.30 per cent |
| 4 | 1 year but less than 2 years | 10.10 per cent |
| 5 | two years but less than three years – Regular | 9.75 per cent |
| 6 | two years but less than three years – Senior citizens | 10.25 per cent |
| 7 | two years but less than three years for senior citizens | 10.50 per cent |
| 8 | three years and up to five years – Regular | 9 per cent |
| 9 | three years and up to five years – Senior citizens | 9.75 per cent |
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