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Laxmi Bank Introduces Recurring Deposit

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Laxmi Bank Introduces Recurring Deposit
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December 13: Laxmi Bank has introduced a new deposit product named “Lakshit Muddati” (Recurring Deposit).

Issuing a press statement, the bank said that the Recurring Deposit is an ideal investment option for customers with regular income to earn higher interest on their monthly deposit. 

Recurring Deposit provides great flexibility for customers to choose a fixed monthly amount starting from Rs 500 to be automatically debited every month on their chosen date from their savings account.

Lakshit Muddati can be opened for a fixed term of 1 year and up to 5 years. Further, all Lakshit Muddati account holders will get the benefit of free DMAT account from Laxmi Capital, the bank said in the statement.

The new scheme is available for all existing and new savings account holders of the bank with an introductory rate of up to 9.0% pa.

 

 

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