Interest rates

DCB Bank raises interest rates on fixed deposits by less than Rs 2 Cr

Investment

oi-Vipul Das

|

The interest rate on fixed deposits of less than Rs. 2 crore was lifted by DCB Bank, a private sector lender. The adjustment was made today, March 7, 2022. Following the revision, the bank now grants an interest rate of 6.00% on deposits maturing in 15 months to less than 18 months, compared to 5.50% previously. The bank raised the interest rate on deposits maturing in 18 months or less than 700 days from 5.50% to 6.25%. The bank raised the interest rate on deposits maturing in 700 days from 5.95% to 6.25%. The bank raised the interest rate on deposits maturing in more than 700 days to less than 36 months from 5.50% to 6.25%. The bank raised the interest rate on deposits maturing in 36 months to 120 months from 5.95% to 6.25%. Senior citizens will continue to receive an additional rate of 0.50% on top of the normal rate for all durations.

DCB Bank Regular Fixed Interest Rates

DCB Bank Regular Fixed Interest Rates

The bank is providing the below interest rates on fixed deposit for Indian residents as of March 7, 2022.

tenors Interest rate on deposits (percentage per year) Effective annualized return (% per year)
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 5.25% 5.34%
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 6.00% 6.18%
18 months to less than 700 days 6.25% 6.55%
700 days 6.25% 6.55%
More than 700 days to less than 36 months 6.25% 6.76%
36 months 6.25% 6.82%
More than 36 months to 60 months 6.25% 7.27%
More than 60 months to 120 months 6.25% 8.59%
Source: Bank website
DCB Bank Fixed interest rates on deposits for the elderly

DCB Bank Fixed interest rates on deposits for the elderly

Following the exclusive review, seniors will benefit from an interest rate of 4.85% – 6.75% on deposits maturing from 7 days to 120 months. Check the latest interest rates here.

tenors Senior rate (% per year) Effective annualized return (% per year)
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 5.75% 5.86%
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 6.50% 6.71%
18 months to less than 700 days 6.75% 7.10%
700 days 6.75% 7.10%
More than 700 days to less than 36 months 6.75% 7.35%
36 months 6.75% 7.41%
More than 36 months to 60 months 6.75% 7.95%
More than 60 months to 120 months 6.75% 9.53%
Source: Bank website
DCB Bank Savings Account Interest Rates

DCB Bank Savings Account Interest Rates

The bank also changed the interest rate on savings accounts last month on February 7, 2022. Check the interest rates for Residents, NRE and NRO savings bank accounts below.

Balance range (INR) Interest rate pa WEF 7 February 2022
On balances up to 1 lakh in the account 2.50%
On balances over 1 lakh to less than 2 lakh in the account 4.50%
On balances from 2 lakh to less than 10 lakh in the account 5.00%
On balances from 10 lakh to less than 25 lakh in the account 6.25%
On balances from 25 lakh to less than 50 lakh in the account 6.50%
On balances from 50 lakh to less than 2 crore in the account 6.75%
On balances of 2 crore to less than 50 crore in the account 5.50%
On balances of 50 crore and above 5.00%
Source: Bank website

Article first published: Monday, March 7, 2022, 9:56 a.m. [IST]