FD Rates of This Private Bank Effective From Today, 24 March—Get Ready For Up To 7.25% ROI On These 2 Tenors

Established in 1927, Dhanlaxmi Bank Ltd. is a private sector bank in India with its main office located in Thrissur, Kerala. With effect from today, Monday, March 24, the bank has surprisingly revised the interest rates on fixed deposits under Rs 3 Cr. The bank is currently giving a maximum rate of return of 7.25% on term deposits, both domestic and NRO, for two specific tenures. On the other hand, all domestic term deposits of one year or more are entitled for an additional interest rate of 0.50% p.a. for senior citizens. Explore the latest Dhanlaxmi Bank FD rates, which are briefly described here.

Dhanlaxmi Bank FD Rates

The bank will give 4.25% interest on fixed deposits that mature in 7-14 days, and Dhanlaxmi Bank will now offer 5.75% interest on those that mature in 15-45 days. The interest rate offered by Dhanlaxmi Bank will now be 4.25% for term deposits with a duration of 46 days to 90 days and 6.00% for those with a duration of 91 days to less than a year. At Dhanlaxmi Bank, fixed deposits that mature within 300 days (use 9 months and 27 days while opening FD in online mode) will now yield an interest rate of 7.25%, while those coming to an end in 1 year and beyond, including 2 years, will yield an interest rate of 6.75.

The bank will pay an interest rate of 7.25% on fixed deposits maturing in 400 days (use 13 months and 4 days when creating an FD online). Dhanlaxmi Bank will now give an interest rate of 6.50% on deposits maturing from more than two years up to and including three years. Now, Dhanlaxmi Bank will give 7.25% returns on deposits made for more than three years up to and including five years, and eventually 6.60% on deposits made for more than five years up to and including ten years.

"W.e.f April 18 2016, a penalty of 1% for term deposits of Rs.5,00,000 and above and 0.5% on deposits less than Rs.5,00,000 upon premature closure is applicable. On premature withdrawal, interest shall be paid at the rate applicable at the time of deposit, to the amount and period for which the deposit remained with the Bank, irrespective of the contracted tenor and interest," mentioned Dhanlaxmi Bank on its website.

Meanwhile, the Board of Directors of the bank has, in its meeting held on March 22, 2025 approved the appointment of Shri. Ashutosh Khajuria as Additional Director (Non-Executive Independent) on the Board w.e.f March 22, 2025.

On the other hand, ICRA has recently assigned BBB- (Stable) for the Basel III Tier -II Bonds proposed to be issued by the bank on March 21, 2025.

At its meeting on March 19, 2025, the Bank's Board of Directors reviewed and approved the proposal to issue unsecured non-convertible debentures in the form of Tier-I debentures that comply with Basel III! bonds having a term of ten years and a private placement basis, each worth Rs. 1 Cr up to a maximum of Rs. 150 crores. Additionally, the proposed issue's term sheet, key information document, and general information document were all authorized by the board of directors.

Additionally, Mr. Santhosh Kumar R has been recently appointed as the bank's Chief Credit Officer in the rank of General Manager for a three-year term beginning on March 20, 2025 (the day he takes over) in lieu of Mr. Suresh M. Nair, who will be heading out the bank on March 31, 2025, for personal reasons.