Lakshmi Vilas Bank (LVB), the private sector lender, has decided to offer a special rate of 9% on 900 days term deposit. The offer is expected to be effected from April 27, 2015.
The rate is 0.20% higher than those with a tenure of 901 days and above up to 3 years. Long term deposits of 5 years and above would fetch a lower rate at 8.75% compared to the rate offered for 901 to 3 year time bucket at 8.80%.
Lakshmi Vilas Bank has reported over four fold jump in its net profit at Rs 32.56 crore for third quarter ended December 31, 2014 as compared to Rs 7.42 crore for the same quarter in the previous year. Total income of the bank has increased 14.97% at Rs 635.36 crore for Q3FY15 as compared Rs 552.63 crore for the corresponding quarter previous year
