Lakshmi Vilas Bank has increased the interest rates on term deposits ranging from 9 months to a year. The bank has increased the rates by 50 basis points.
The new interest rates on fixed deposits from 271 days to 364 days would be 8.75% per annum against 8.50% at present. The new rates would be effective from 26 June. The rates on other term deposits would remain the same.