- Recurring Deposit
- Dhanalaxmi Bank RD Interest Rates
Dhanalaxmi Bank RD Interest Rates
small finance
Dhanlaxmi Bank RD Interest Rates Apr 2024
| Tenure | Normal Citizen RD Rate | Senior Citizen RD Rate |
|---|---|---|
| 3 Months to 6 Months | 6.75% | 6.75% |
| 6 Months to 9 Months | 6.75% | 6.75% |
| 9 Months to 1 Year | 6.75% | 6.75% |
| 1 Year to 2 Years | 6.75% | 7.25% |
| 2 Years to 3 Years | 6.50% | 7.00% |
| 3 Years to 5 Years | 6.60% | 7.10% |
| 5 Years to 10 Years | 6.60% | 7.10% |
Note: All interest rates shown above are as on 1st November 2023
Dhanlaxmi Bank RD Scheme Details
Tenure | 3 Months to 10 Years |
Public Interest Rates | 6.50% to 6.75% |
Senior Citizen Interest Rates | 6.75% to 7.25% |
Minimum Deposit Amount | Rs. 1000 |
Premature Withdrawal | 1% on Interest Return |
Highest Rates for Public | 6.75% |
Highest Rates for Senior Citizen | 7.25% |
Dhanlaxmi Bank Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 6.60% | For 5 years with interest of 6.60% |
|---|---|---|
| ₹ 50,000 | ₹ 1,51,647 | ₹ 2,54,133 |
| ₹ 1 lakh | ₹ 3,03,294 | ₹ 5,08,265 |
| ₹ 2 lakh | ₹ 6,06,588 | ₹ 10,16,530 |
| ₹ 5 lakh | ₹ 15,16,470 | ₹ 25,41,326 |
| ₹ 10 lakh | ₹ 30,32,940 | ₹ 50,82,651 |
Compare Dhanlaxmi Bank vs Punjab National Bank Recurring Deposit
vs
Punjab National Bank
 | | |
|---|---|---|
| Maturity Amount | ₹ 3,03,294 | ₹ 3,02,621 |
| Total Investment Amount | ₹ 3,00,000 | ₹ 3,00,000 |
| Total Interest Gained | ₹3,294 | ₹ 2,621 |
Compare RD Interest Rates of Other Banks
Frequently Asked Questions
What is the current interest rate of RD in Dhanlaxmi Bank?
The current highest Dhanlaxmi Bank RD rates for general citizen range from 6.50% to 6.75% and for senior citizen it ranges from 6.75% to 7.25% today 2024-04-23
How to open rd account in Dhanlaxmi Bank?
Dhanlaxmi Bank RD account can be opened with a minimum deposit of Rs. 1000 with tenure ranging 3 Months to 10 Years. Dhanlaxmi Bank recurring deposit account can be opened online or by visiting Dhanlaxmi Bank branches with any ID proof like PAN card, Aadhar card, voter ID, or driving licence etc.
How to close rd in Dhanlaxmi Bank?
You can close your RD a/c online through "Close A/c" tab or by visiting the branch, this may cost you a penalty. The current premature closer penalty in Dhanlaxmi Bank RD is 1% on Interest Return.
How to calculate maturity and interest in Dhanlaxmi Bank recurring deposit ?
The maturity amount in Dhanlaxmi Bank recurring deposit account can be calculated by using A = P x(1 + R / N) ^ (NT) formula.
Where:
A: Maturity Amount
P: Recurring Deposit Amount
N: Number of times the interest is compounded
R: annual interest rate
T: Tenure
Example:
If you open recurring deposit account at the Dhanlaxmi Bank for 5 years and planed to invest INR 50,000.The current Dhanlaxmi Bank RD interest rate for 5 year is 6.60%.So using the above formula the maturity amount will be - Rs. 35,58,901.
Where:
A: Maturity Amount
P: Recurring Deposit Amount
N: Number of times the interest is compounded
R: annual interest rate
T: Tenure
Example:
If you open recurring deposit account at the Dhanlaxmi Bank for 5 years and planed to invest INR 50,000.The current Dhanlaxmi Bank RD interest rate for 5 year is 6.60%.So using the above formula the maturity amount will be - Rs. 35,58,901.
What is Dhanlaxmi Bank RD interest rates for 1 year in 2024 ?
The Dhanlaxmi Bank recurring deposit for 12 months or 1 year is 7.25% for senior citizen and 6.75% for others.
Calculate Dhanlaxmi Bank Returns
36
3.2 %
₹1,00,000
Total Investment
0
Wealth Gained
₹0
Maturity Amount
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