Investors can still get 8.5% interest on this FD tenure despite DCB Bank cutting interest rate Effective March 5, 2025, the bank offers rates between 3.75% and 8% depending on the tenure for general citizens
DCB Bank has once again cut its fixed deposit (FD) interest rates for deposits less than Rs 3 crore, marking the second such reduction within a month. The bank has reduced up to 25 basis points on select tenures. The highest FD interest rate has been cut from 8.05% to 8%. The revised rates are applicable from March 5, 2025.
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In February, the bank reduced the interest rate on fixed deposits for select tenures by up to 65 basis points (bps) effective February 14, 2025.
Which FD tenures have seen interest rate reductions?
Following the revision, DCB Bank now offers interest rates between 3.75% and 8% on FD amounts less than Rs 3 crore for general citizens for tenures ranging from 7 days to 10 years.The bank has reduced the interest rate on FDs with a tenure of 10 months to less than 12 months by 20 basis points from 7.25% to 7.05%.
With another FD interest rate reduction of 25 basis points (bps), bringing rates down from 7.75% to 7.50% on tenure of above 12 months to 12 months 10 days.
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Earlier, the bank was offering the highest FD interest rate of 8.05% on a tenure of 19 months to 20 months. After the revision, the highest FD interest rate of 8% is offered on a tenure of 15 months to less than 16 months.
Latest DCB Bank FD interest rates
TenureDeposit Interest RateRate for Senior Citizens (% p.a.)(% p.a.)Single Deposit of less than ₹ 3 Crore7 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 months6.20%6.70%10 months to less than 12 months7.05%7.55%12 months7.10%7.60%More than 12 months to 12 month 10 days7.50%8.00%12 months 11 days to less than 15 months7.15%7.65%15 months to less than 16 months8.00%8.50%16 months to 17 months7.15%7.65%17 months 1 days to 18 months 5 days7.10%7.60%18 months 6 days to less than 700 days7.40%7.90%700 days to less than 37 months7.50%8.00%37 months to 38 months7.85%8.35%More than 38 months to less than 61 months7.40%7.90%61 months7.65%8.15%More than 61 months to 120 months7.25%7.75%Senior Citizen FD rates
Following the revision, DCB Bank now offers interest rates between 4.25% and 8.50% on FD amounts below Rs 3 crore for senior citizens for tenures ranging from 7 days to 10 years.The bank has reduced FD interest rate on tenure of 10 months to less than 12 months by 20 basis points from 7.75% to 7.55%.
With another FD interest rate reduction of 25 basis points (bps), bringing rates down from 8.25% to 8% on tenure of above 12 months to 12 months 10 days.
Earlier, the bank was offering the highest FD interest rate of 8.55% on tenure of 19 months to 20 months. After the revision, the highest FD interest rate of 8.50% is offered on tenure of 15 months to less than 16 months.
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This story originally appeared on: India Times - Author:Faqs of Insurances
