DCB Bank Modifies Interest Rates On FD: Latest Rates Here
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Investment
oi-Vipul Das
Along with competitive interest rates, DCB Bank provides a variety of benefits to both regular and senior citizens on fixed deposits, including flexible interest payment options, 0.5 percent p.a. additional interest for senior citizens, flexible tenure ranging from 7 days to 10 years, a minimum deposit amount of Rs 10,000, multiple interest payout options on a monthly, quarterly, half-yearly, or annual basis, an overdraft facility and so on. The bank has recently revised its interest rates on fixed deposits which is a must to know for you if you want to open an FD account.
DCB Bank FD Rates For Regular Customers
DCB Bank revised its fixed deposit interest rates on November 2, 2021, and now offers an interest rate of 4.35 percent for FDs with maturities ranging from 7 to 90 days, 5.05 percent for deposits maturing in 91 days to less than 6 months, 5.45 percent for deposits maturing in 6 months to less than 12 months, and 5.55 percent for deposits maturing in 12 months. DCB Bank is currently offering an interest rate of 5.30 percent for deposits maturing in more than 12 months but less than 15 months, 5.50 percent for deposits maturing in 15 months but less than 700 days, and 5.95 percent for deposits maturing in 700 days. The bank is providing a 5.50 percent interest rate on deposits maturing in more than 700 days to less than 36 months and a 5.95 percent interest rate on deposits maturing in 36 months to less than 120 months to the general public. DCB Bank is currently giving the following interest rates to the general public for a single deposit of less than Rs.2 crore.
| Tenure | Interest rate per annum | Effective Annualised Yield (% per annum) |
|---|---|---|
| 7 days to 14 days | 4.35% | 4.35% |
| 15 days to 45 days | 4.35% | 4.35% |
| 46 days to 90 days | 4.35% | 4.35% |
| 91 days to less than 6 months | 5.05% | 5.05% |
| 6 months to less than 12 months | 5.45% | 5.56% |
| 12 months | 5.55% | 5.67% |
| More than 12 months to less than 15 months | 5.30% | 5.41% |
| 15 months to less than 18 months | 5.50% | 5.65% |
| 18 months to less than 700 days | 5.50% | 5.73% |
| 700 days | 5.95% | 6.22% |
| More than 700 days to less than 36 months | 5.50% | 5.89% |
| 36 months | 5.95% | 6.46% |
| More than 36 months to 60 months | 5.95% | 6.87% |
| More than 60 months to 120 months | 5.95% | 8.05% |
| Source: Bank Website. With effect from 02nd November, 2021 |
DCB Bank FD Rates For Senior Citizens
Senior citizens would continue to receive an additional rate of 0.50 percent on deposits of less than Rs 2 crore across all tenures. With effect from November 2, 2021, the interest rates indicated below are effective on resident Indian Fixed Deposits for elderly individuals.
| Tenure | Interest rate per annum | Effective Annualised Yield (% per annum) |
|---|---|---|
| 7 days to 14 days | 4.85% | 4.85% |
| 15 days to 45 days | 4.85% | 4.85% |
| 46 days to 90 days | 4.85% | 4.85% |
| 91 days to less than 6 months | 5.55% | 5.55% |
| 6 months to less than 12 months | 5.95% | 6.08% |
| 12 months | 6.05% | 6.19% |
| More than 12 months to less than 15 months | 5.80% | 5.93% |
| 15 months to less than 18 months | 6.00% | 6.18% |
| 18 months to less than 700 days | 6.00% | 6.28% |
| 700 days | 6.45% | 6.77% |
| More than 700 days to less than 36 months | 6.00% | 6.47% |
| 36 months | 6.45% | 7.05% |
| More than 36 months to 60 months | 6.45% | 7.54% |
| More than 60 months to 120 months | 6.45% | 8.96% |
| Source: Bank Website. With effect from 02nd November, 2021 |
Story first published: Saturday, November 6, 2021, 15:10 [IST]
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