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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 have not been raised from the present 3.25 and 3.75 per cent, 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 per cent to six per cent, Lakshmi Vilas Bank said in a statement.
The interest rates for term deposits having a maturity period 91—180 days (nine per cent), 181—270 days (9.25 per cent), 271—364 days (9.30 per cent), one year but less than two years (10.10 per cent (regular) and 10.25 per cent (senior citizens).
Interest rates for term deposits with maturity period of two years but less than three years (9.75 per cent for regular and 10.50 per cent for senior citizens), three years and up to five years 9.50 per cent (for regular), 10.25 per cent (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 per cent to 9 per cent for regulars and 7.75 per cent to 9.75 per cent for senior citizens, the statement added.
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