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Dhanlaxmi Bank Fixed Deposit

Updated 06 Dec 2023

Dhanlaxmi Bank was established in 1927 in Thrissur, Kerala. For 95 years, this bank has been providing customer service and holds a position in the market with its innovation and best customer service. The bank has 541 touchpoints across India.


Fixed deposits are one of the traditional and safest ways of investment where customers get a fixed rate of return.


Dhanlaxmi Bank provides various fixed deposit schemes where customers can choose the best suitable scheme. This article will give detailed insights into Dhanlaxmi Bank fixed deposit schemes.

Types of Dhanlaxmi Bank Fixed Deposit

  • Dhanam Cumulative Deposit Certificate (DCDC)
  • Dhanam Tax Advantage Deposit
  • Senior Citizens Deposit

Benefits of investing in Dhanlaxmi Bank Fixed Deposit

1. Period: The FD with Dhanlaxmi Bank ranges from 6 months to 10 years.


2. Convenient: Open hassle-free FD using online banking in a few minutes.


3. DICGC Insurance: The amount invested with the Bank is covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) for the total sum of ₹5 lakhs.


4. Minimum Amount: Fixed deposits with Dhanlaxmi Bank can be opened with an investment as low as ₹100.


5. Preference to Senior Citizens: Earn an additional 0.5% p.a. on Senior Citizen Term Deposit.


6. Nomination Facility: Depositors can nominate beneficiaries for their investments in Dhanlaxmi Bank FDs.

Features of Dhanlaxmi Bank Fixed Deposit

Dhanam Cumulative Deposit Certificate (DCDC)


  • The minimum deposit is ₹100 and then in the multiples of ₹100 thereof.
  • The tenure of investment is from 6 months to 60 months.
  • Subsequent multiples at 3-month intervals are permitted.
  • The interest rate is paid quarterly, and cumulative interest and the principal amount are paid at maturity.
  • A loan facility is available for up to 90% of the FD amount.
  • Senior citizens will get an additional 0.5% interest rate.
  • Based on the tenor, the interest rate of the scheme ranges from 5.75% to 7.30% for the general public and 3.25% to 7.80% for senior citizens.



Dhanam Tax Advantage Deposit

  • You can deposit a minimum of ₹100 and a maximum of ₹1.5 lakhs in a given financial year.
  • In a given financial year, a tax exemption of ₹1.5 lakhs under section 80C of the Income Tax Act is applicable.
  • A nomination facility is available.
  • The minimum investment tenure is 5 years, and the maximum is 10 years.
  • A PAN card is mandatory for investing in this scheme.
  • Premature withdrawal is not allowed for up to 5 years.
  • It does not facilitate loans against the invested amount.
  • There is no additional interest rate for Senior citizens.
  • In the case of joint holders, the deduction under 80C is available only to the first holder.
  • In the case of the Hindu Undivided Family (HUF), Karta will get the deduction.
  • Joint accounts can be opened by adults, minors, and their guardians.
  • Based on the tenor, the interest rate of the scheme ranges from 5.75% to 7.30% for the general public, and 3.25% to 7.80% for senior citizens.


Senior Citizens Deposit


  • This scheme is for resident Indians who are aged 60 years and above.
  • They get an additional 0.5% p.a. interest rate for term deposits for periods starting from 180 days and above but excluding the 500 days product.
  • The additional interest rate offered for deposits of Senior Citizens applies only to Resident Indians.
  • Issue of demand draft of ₹5,000 once a month.
    At the par collection of 1 instrument for a value up to ₹5,000 once a month.
  • Based on the tenor, the interest rate of the scheme ranges from 5.75% to 7.30% for the general public and 3.25% to 7.80% for senior citizens.

Eligibility Criteria to Open a Fixed Deposit with Dhanlaxmi Bank

To invest in the Dhanlaxmi Bank following are eligible to invest in the FD scheme:

  • Individuals
  • Proprietorship
  • Partnership firm
  • Clubs and associations
  • Minors
  • HUF
  • Corporate Bodies

Documents Required to Open a Standard Chartered Fixed Deposit

The following documents are required to invest in the Fixed deposit scheme of Dhanlaxmi Bank.


Documents accepted as ID and Address proof:

  • Passport
  • Driving licence
  • Aadhar card
  • PAN card
  • Form 60/61 (In case PAN card is not available)
  • Voters' Identity cards issued by the Election Commission of India

How To Open A FD Account with Dhanlaxmi Bank?

You can open fixed deposit accounts in both online and offline methods:



Open FD Account Online with Dhanlaxmi Bank


Step 1: Log in to the net banking of Dhanlaxmi Bank
Step 2: Select the investment in Fixed Deposit
Step 3: Select the type of scheme in which a customer wants to invest
Step 4: Follow the online instructions and apply for a term deposit



Open FD Account Offline with Dhanlaxmi Bank


Step 1: Visit the bank branch
Step 2: Take the FD application form
Step 3: Fill in the required details and submit the necessary documents 
Step 4: Submit the form to the branch

Dhanlaxmi Bank Fixed Deposit Premature Withdrawal

There is a penalty of 1% on premature withdrawal of the amount ₹5 lakhs and above and 0.5% for the amount less than ₹5 lakhs.


How is a tax-saver FD different from a regular FD?

A tax-saving FD has a lock-in period of 5 years. No premature withdrawals, overdrafts, or loan facilities are not available under a tax-saving FD. Whereas one can have a regular FD for any tenure as per an individual's choice, and they are eligible for premature withdrawals too.

Can I avail a loan facility against my fixed deposit?

Dhanlaxmi Bank allows a loan facility in its Dhanam DCDC (Cumulative Deposit Certificate) scheme. In this scheme, depositors can get a loan or overdraft facility up to 90% of the FD amount.

Is the ₹5 lakhs DICGC insurance cover applicable on Dhanlaxmi Bank FD?

Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover is applicable on Dhanlaxmi Bank FD.

Are there charges at the time of opening or maturity of the fixed deposit?

There are no charges at the time of opening or maturity of the fixed deposit. However, there is a penalty in case of premature withdrawal, and the bank may charge TDS (Tax Deducted at Source) at the rate of 10% if the amount of interest exceeds ₹40,000 (₹50,000 in the case of senior citizens).

Dhanlaxmi Bank

Calculate Dhanlaxmi Bank FD Returns

Maturity Amount₹1,06,000

Understanding Fixed Deposit


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