top of page
Product Details
Bank Name

Dhanlaxmi Bank

Eligibility

The account can be opened by individuals, firms, corporate bodies, clubs, and associations

Interest Rate

5 to 7.25% per annum.

Tenure

6 to 60 months.

Fixed Deposit Type

Cumulative Deposit Scheme

Dhanam Cumulative Deposit Certificate (DCDC)

Dhanam Cumulative Deposit Certificate (DCDC)

Tax Benefits

None

Credit Ratings

CARE BB+ Stable

Interest Payment Frequency

At maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.

Cummulative/Non-Cummulative

Cumulative

Features
  • Quarterly compounding of interest.

  • Loan facility is available.

  • Minimum deposit requirement of Rs. 100.

Minimum Investment Amount

100

Fees and Charges
Pros
  • Low initial deposit requirement.

  • Quarterly compounding of interest.

Cons
  • Payment of interest is done at maturity only.

  • Tenure of up to 5 years only.

Pros & Cons
Account Opening and Procedure
How to Open?

Visit a Dhanlaxmi Bank Branch:

  • This is the most traditional way.

  • Locate your nearest Dhanlaxmi Bank branch using their branch locator https://www.dhanbank.com/branch-locator/.

  • Once at the branch, inform the bank representative that you want to open a "Senior Citizen's Deposit" account.

  • You'll likely be provided a specific application form for this scheme.

  • Fill out the form with your details including name, address, contact information, PAN, nominee details, etc.

  • Choose your deposit amount, tenure (ranging from 180 days to 10 years, excluding the 500-day product), and how you want to receive interest payouts (monthly, quarterly, or on maturity).

  • Submit the completed form along with the required documents and your deposit amount (cash or cheque).

  • The bank will verify your documents and provide you with an account opening confirmation.

Application Procedure

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Add a Title

Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.

Product Review
bottom of page