Lakshmi Vilas Bank was founded in 1926 by a group of seven progressive businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. Their objective was to cater to the financial needs of the people in and around Karur who were occupied in trading businesses, industry and agriculture. The Bank was incorporated on November 3, 1926 under the Indian Companies Act, 1913, and obtained the certificate to commence business on November 10, 1926. Subsequent to introduction of the Banking Regulations Act, 1949 and Reserve Bank of India as the regulator for the banking sector, the Bank obtained its banking license from RBI on 19,June 1958, and on 11, August 1958 it became a ‘scheduled commercial bank’ signifying capability to operate as a full-fledged commercial bank.
Domestic Deposit Rates
| General | Senior Citizen | |
|---|---|---|
| 7 day | ||
| 8 Days - 60 Days | ||
| 61 Days - 180 Days | ||
| 181 Days - 269 Days | ||
| 270 Days - less than one Year | ||
| 1 Year - 375 Days | ||
| 376 Days to less than 2 Years | ||
| 2 Years to less than 2 Years 6 Months | ||
| 2 Years 6 Months to less than 3 Years | ||
| 3 Years to less than 4 Years | ||
| 4 Years upto 10 Years |