Interest Rate Update: Laxmi Bank reduces interest for savings while maintaining the rates for fixed deposit

Laxmi Bank Limited has updated its interest rates effective from today, i.e. Bhadra 24, 2077 (September 9, 2020).

The interest rate for savings is set in the range of 3% to 5% p.a. It previously provided interest in the range of 4% to 5% p.a. for savings.

Meanwhile, individuals will get a 7.25% interest in fixed deposits maturing in less than a year. The rate is 7.75% for fixed deposits with a maturity period of more than a year. Institutions will get 6.5% for fixed deposits maturing in less than a year and 7% for fixed deposits with a maturity period of more than a year. The interest rates profile for fixed deposits hasn't changed from the last update.

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