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Lakshmi Vilas Bank
Source Name: Lakshmi Vilas Bank

Lakshmi Vilas Bank Increases Interest Rate on Savings Deposits

From 5 per cent to 6 per cent

Jun 16, 2015   17:59 IST 
New Delhi, Delhi, India

Lakshmi Vilas Bank, one of the fastest growing banks in India, today, announced increase in its interest rates on savings accounts to 5 percent up to Rs. 5 lakhs from earlier 4 per cent per annum up to Rs. 1 lakh. The revised interest rates are applicable with effect from June 16, 2015 till further notice.

 

For balance of above Rs. 5 lakhs, the new interest rates would be 6 percent from earlier interest rates of 5 percent on incremental balances above Rs. 1 lakh. 

 

Mr. Rakesh Sharma, MD & CEO, Laksmi Vilas Bank said, “New interest rate is the best among the peer banks, we want to give the maximum returns to our valued customers.”

 

The interest will be calculated on daily basis, at the end of day ledger balance in the account and paid at every half year.

 

About Lakshmi Vilas Bank:

Lakshmi Vilas Bank is founded in 1926 and it has a national presence serving over 2 million customers through its 400 branches, 7 Extension Counters and 820 ATMs, totaling close to 1225 outlets in 16 states and Union territory of Pondicherry.

 

The bank is active across the entire spectrum of customer segments - retail, mid-market and corporate. Through its branches, the bank also offers a host of para-banking products in association with Life and General Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.  


 
 
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