DCB Bank has revised its savings account and fixed deposit interest rates (for amounts below Rs 2 crore). According to the DCB Bank website, the new rates are effective May 22, 2024.
The bank is offering the highest FD interest rate of 8% to general customers and 8.55% for senior citizens after the revision in tenure from 19 months to 20 months. The highest savings account interest rate offered is up to 8%.
Tenure | Deposit Interest Rate | Rate for Senior Citizens (% per annum) |
(percent per annum) | ||
Single Deposit of less than INR 2 Cr. | ||
7 days to 45 days | 3.75% | 4.25% |
46 days to 90 days | 4.00% | 4.50% |
91 days to less than 6 months | 4.75% | 5.25% |
6 months to less than 10 months | 6.20% | 6.70% |
10 months to less than 12 months | 7.25% | 7.75% |
12 months | 7.10% | 7.60% |
More than 12 months to 12 month 10 days | 7.75% | 8.25% |
12 months 11 days to 17 months | 7.15% | 7.65% |
17 months 1 day to 18 months 5 days | 7.10% | 7.60% |
18 months 6 days to less than 19 months | 7.40% | 7.90% |
19 months to 20 months | 8.05% | 8.55% |
20 months 1 day to less than 700 days | 7.40% | 7.90% |
700 days to 26 months | 7.50% | 8.00% |
More than 26 months to less than 37 months | 7.55% | 8.05% |
37 months to 38 months | 7.75% | 8.25% |
More than 38 months to less than 61 months | 7.40% | 7.90% |
61 months | 7.65% | 8.15% |
More than 61 months to 120 months | 7.25% | 7.75% |
Resident, NRE and NRO Savings Bank Account Interest rates (with effect from May 22nd, 2024) | |
Balance Range (INR) | Rate of Interest p.a. W.E.F May 22nd, 2024 |
On balances up to 1 lakh in the account | 1.75% |
On balances above 1 lakh to less than 5 lakh in the account | 3.00% |
On balances from 5 lakh to less than 10 lakh in the account | 5.25% |
On balances from 10 lakh to less than 1 Crore in the account | 7.75% |
On balances from 1 Crore to less than 2 Crore in the account | 8.00% |
On balances from 2 cr to less than 5 crore in the account | 5.50% |
On balances from 5 crore to less than 10 Crore in the account | 7.00% |
On balances from 10 crore to less than 50 Crore in the account | 7.75% |
On balances from 50 crore to less than 200 Crore in the account | 7.75% |
On balances from 200 crore and above | 5.50% |
Source: DCB Bank website
According to the DCB Bank website, “Interest will be calculated daily based on end of day clear balance in the account and will be paid quarterly.
- Rates mentioned are applicable for the incremental balances that are present corresponding to the amount slabs mentioned.
- These interest rates are applicable to resident, NRE and NRO savings accounts, and subject to change without prior notice.
- Additional interest to be charged on overdrawn amounts for Savings Bank Account and Current Accounts. The Bank will levy interest @ 2% per month (monthly basis) on overdrawn balances for the period any Savings or Current account remains overdrawn.”
Also read: FD interest rate up to 8.6%: 10 corporate fixed deposits with the highest interest rates