Chennai: Private lender Lakshmi Vilas Bank has raised interest rates on fixed deposits by up to 50 basis points effective from Monday.
Interest rate on deposits for three years and above will now be 8.25 percent and for senior citizens 9 percent, the bank said.
The bank’s existing rate for deposits for three to five years is 7.75 percent (8.5 percent for senior citizens) and for above five years 8 percent (8.75 percent for senior citizens).
