DCB Bank revises savings account, FD interest rates: Check details The new rates are effective from September 27, 2023, according to the DCB Bank website
DCB Bank has revised savings accounts and fixed deposit interest rates for deposits below Rs 2 crore. The new rates are effective from September 27, 2023, according to the DCB Bank website.The bank is offering the highest FD interest rate of 7.90% to general customers and 8.50% for senior citizens, after the revision. On savings accounts, the bank offers interest rate between 1.75% and 8% depending on the balance range.
Also read: 7 big banks offering up to 7.5% FD interest rates
Latest DCB Bank FD rates
The bank is offering an interest rate of 3.75% on resident term deposits maturing in 7 days to 45 days, and an interest rate of 4.00% on tenures between 46 days to 90 days. Interest rates offered by DCB Bank on deposits maturing in 91 days to less than 6 months is 4.75%, and 6.25% for deposits maturing in 6 months to less than 12 months.For deposits maturing between 10 months to less than 12 months, the bank has increased to 7.25% from 6.90%. For 12 months, the bank will pay 7.15% interest.
Deposits with maturities between 12 months to less than 12 months 10 days will earn interest at a rate of 7.75% after the revision from 7.15%, while bank offer 7.15% interest on deposits of 12 months 11 days to less than 18 months 5 days.
Whereas deposits with maturities between 18 months 6 days to less than 700 days, the bank will pay interest of 7.50% and 7.55% on deposits of 700 days to less than 25 months.
The highest interest rate of 7.90% is offered on 25 months to 26 months and 37 months to 38 months. Earlier, the highest interest rate was 7.75% on tenure of 25 months and 37 months.
For tenure more than 38 months to less than 61 months, the bank offers 7.40% and 7.65% on tenure of 61 months tenure.
The interest rate offered by DCB Bank for deposits with maturities more than 61 months to 120 months is 7.25%.
TenureDeposit Interest RateRate for Senior Citizens (% per annum)(percent per annum)7 days to 45 days3.75%4.25%46 days to 90 days4.00%4.50%91 days to less than 6 months4.75%5.25%6 months to less than 10 months6.25%6.75%10 months to less than 12 months7.25%7.75%12 months7.15%7.65%12 months 1 day to 12 month 10 days7.75%8.25%12 months 11 days to less than 18 months 5 days 7.15%7.65%18 months 6 days to less than 700 days7.50%8.00%700 days to less than 25 months 7.55%8.05%25 months to 26 months7.90%8.50%More than 26 months to less than 37 months7.60%8.10%37 months to 38 months7.90%8.50%More than 38 months to less than 61 months7.40%7.90% 61 months 7.65%8.15%More than 61 months to 120 months 7.25%7.75%
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DCB Bank savings account rates
The bank pays an interest rate of 1.75% on savings accounts with balances up to 1 lakh, and an interest rate of 3% on accounts with balances between Rs 1 lakh and Rs 5 lakh. On savings accounts with balances between 5 lakh and less than 10 lakh, DCB Bank will give interest rates of 5.25% and 8% on balances of On balances from 10 lakh to less than 2 Crore in the account.The interest rate on savings accounts with balances between Rs 2 crore to less than Rs 5 crore in the account will earn 7.00%, while the interest rate on accounts with balances On balances from 10 crore to less than 200 Crore in the account offered at 7.75%. On balances in the account from Rs 200 crore and above, the bank would offer an interest rate of 5.50%.
Resident, NRE and NRO Savings Bank Account Interest rates (with effect from September 27th, 2023)
Balance Range (INR)Rate of Interest p.a. W.E.F September 27th, 2023On balances up to 1 lakh in the account1.75%On balances above 1 lakh to less than 2 lakh in the account3.00%On balances from 2 lakh to less than 5 lakh in the account3.00%On balances from 5 lakh to less than 10 lakh in the account5.25%On balances from 10 lakh to less than 2 Crore in the account8.00%On balances from 2 cr to less than 5 crore in the account5.50%On balances from 5 crore to less than 10 Crore in the account7.00%On balances from 10 crore to less than 50 Crore in the account7.75%On balances from 50 crore to less than 200 Crore in the account7.75%On balances from 200 crore and above5.50% Source: DCB Bank website
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This story originally appeared on: India Times - Author:Faqs of Insurances
