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How to Open Dhanlaxmi Bank Fixed Deposit Account

Updated 30 Aug 2023

Fixed Deposits (FDs) have always been the beacon of reliability and stability in the spectrum of financial investments. Dhanlaxmi Bank, with its rich history and commitment to customer satisfaction, offers a myriad of FD options suitable for diverse financial aspirations. Considering an FD with Dhanlaxmi Bank might be a judicious decision if you're eyeing a safe yet rewarding financial venture.


This blog aims to demystify opening an FD account with Dhanlaxmi Bank. Dive in with us to understand each step in detail, ensuring a seamless and knowledgeable initiation into your savings journey.

How To Open A FD Account with Dhanlaxmi Bank?

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

Online Method:
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

Offline Method:
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

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 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 of 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).


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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

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