Indians have chosen fixed deposits as their preferred investment option for ages. The most important benefits of an FD are that it guarantees returns and is quite a low-risk investment option. Dhanlaxmi Bank is another private-sector bank that offers fixed deposits. The bank, which started its operations way back in 1927 in Thrissur, Kerala, has made a name for itself with its financial products and customer service. So, if you have been considering opening an FD account, check out Dhanlaxmi Bank FD rates.

Features and Benefits of Dhanlaxmi Bank FD Interest Rate 

Check the features and benefits of fixed deposit schemes offered by Dhanlaxmi Bank: 

• You can open a fixed deposit scheme within the range of 7 days to 10 years. 
• The process of availing of Dhanalakshmi Bank FD rates is quite convenient. There are no hassles involved in its online procedure. 
• Senior citizens who are uncomfortable with opening an FD account online can also visit their nearest branch and open FD accounts offline. 
• Dhanalakshmi Bank offers additional interest rates to senior citizens. 
• As depositors, you can choose your beneficiaries for investing in fixed deposit schemes offered by Dhanlaxmi Bank. 

How to Book Dhanlaxmi Bank FD? 

In this section, we will explore how you can open a fixed deposit account at Dhanlaxmi Bank. 

1. Online

Follow these steps to open an FD account online:

• Step 1: Visit the official net banking website of Dhanlaxmi Bank. 
• Step 2: Navigate to the ‘investments’ section and choose the ‘fixed deposit’ option from it. 
• Step 3: Choose the scheme in which you wish to invest. The bank will notify you of the following instructions on how to proceed on your registered mobile number. 

2. Offline

People, especially senior citizens, may face problems in opening FD schemes online. They can follow these steps to avail of Dhanlaxmi Bank fixed deposit rates offline:

• Step 1: Visit the nearest branch of your bank. 
• Step 2: Collect the bank officials' FD account opening application form. 
• Step 3: Make sure you fill in the required details with care. Don’t forget to attach the required documents. 
• Step 4: Before submitting the application form to the branch, don’t forget to check the details. 

Documents Required to Book Dhanlaxmi Bank FD 

Check the documents you would require to open an FD account at Dhanlaxmi Bank: 

• Filled up the FD account opening form for Dhanlaxmi Bank 
• 4 Passport-size photographs 
• Proof of identity - Aadhaar card / Voter ID card / Driving license etc. 
• Proof of address - PAN card / Voter ID card / Aadhaar card / Passport etc. 
• PAN card or Form 60 / 61 
• Proof of age - Certificate of birth / School passing certificate / Graduation certificate 
• Bank account details - Account number / IFSC code / Branch name 

Eligibility to Open Dhanlaxmi Bank FD 

The bank has put forward certain eligibility criteria you must fulfil if you wish to avail of the attractive Dhanalakshmi Bank fixed deposit interest rates.

• Applicant type - Individuals, Hindu Undivided Families (HUFs), Non-Resident Individuals (NRIs), Partnership Firms, Public and Private Companies, Clubs, Societies etc. 
• Age (in case of individual applicants)- 18 and above (Minors can open an FD account under the supervision of guardians) 

Types of Dhanlaxmi Bank FD Schemes 

In this section, we’ll explore the different types of fixed deposit schemes offered by Dhanlaxmi Bank. 

1. Dhanam Cumulative Deposit Certificate 

Under this cumulative deposit scheme, the bank issues quarterly interest, which gets added to the principal amount. The depositor receives both the cumulative quarterly interest and principal amount after maturity. 

• Minimum Deposit: ₹100
• Maximum Deposit: No upper limit 
• Tenure: 6 months to 60 months (Subsequent multiples at the interval of 3 months are allowed) 
• Interest Rate: 4.00% to 7.00% 
• Eligibility: Individuals / Firms / Corporate Bodies / Associations / Clubs 

2. Dhanam Tax Advantage Deposit 

If you wish to receive tax-saving benefits while investing in an FD scheme, consider investing in the Dhanam Tax Advantage Deposit scheme. 

• Minimum Deposit: ₹100
• Maximum Deposit: ₹1.50 lakh 
• Tenure: 5 years
• Interest Rate: 6.50%
• Eligibility: Individuals/HUFs/Minors under their guardians 

3. Senior Citizens Deposit 

Dhanlaxmi Bank also offers a fixed deposit scheme for senior citizens, allowing them to receive an additional interest rate of 0.50% per annum on all domestic term deposits for 1 year or above. However, Dhanlaxmi Bank Senior Citizen interest rates are not applicable under Dhanam Tax Advantage deposits.

• Minimum Deposit: ₹100
• Maximum Deposit: No limit 
• Tenure: 5 years to 10 years 
• Interest Rate: 4.50% to 7.50% 
• Eligibility: Individuals/HUFs/Minors under their guardians 

4. NRE Account

Under this scheme, depositors can repatriate the balance in savings and current accounts abroad, along with their principal amount and interest received. An important feature to be noted here is that the balance in an NRE FD Account does not fall under the purview of income tax, gift tax, or wealth tax. Moreover, when the depositor returns to India permanently, an NRE account will be converted to a resident account. 

• Minimum Deposit: No limit specified 
• Maximum Deposit: No limit specified
• Tenure: 1 year to 10 years 
• Interest Rate: 6.25% to 7.00% 
• Eligibility: Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) 

5. NRO Account

The most important feature of an NRO FD account offered by Dhanlaxmi Bank is that the account can be a current account, a savings account, a cumulative deposit, or a term deposit. Depositors can use normal banking channels for the remittance of funds from abroad. Non-resident Indians can even open NRO accounts jointly with a resident Indian. 

• Minimum Deposit: No limit specified
• Maximum Deposit: No limit specified
• Tenure: 7 Days to 10 years 
• Interest Rate: 4.00% to 7.00% 
• Eligibility: Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs)

Knowing the details of Dhanlaxmi Bank FD rates is essential if you wish to open a bank account at this renowned bank. But don’t forget to ensure that your investment requirements are aligned with the scheme. Moreover, don’t forget to carefully review the terms and conditions before opening an FD account. Remember to check the premature withdrawal charges and other applicable fees.