Private sector bank Laxmi Vilas Bank has made certain amendments in the interest rates for the savings accounts. The bank has increased the rate by 1%. For the account balance of more than Rs 1 lakh the interest have been made to 5%, earlier it was 4% p.a.
The bank reported that if the customer keeps the balance of Rs 1lakh or above in the account even for single he will be offered with an interest rate of 5% per annum on the savings amount. The bank has it headquarters in Tamil Nadu.
The bank is offering its services all over the country through its wide network of 362 branches (with 8 extension counters) in 15 states. In addition to this the bank also serves the facility with 635 ATMs.