New Delhi: DCB Bank announced that it has revised its savings account and fixed deposit interest rates (for amounts below Rs 2 crore) with effect from May 22, 2024. The bank is offering the highest savings account interest rate up to 8 per cent on balances from Rs 1 crore to less than Rs 2 crore in the account. The DCB Bank is giving 8 per cent returns to general customers and 8.55 per cent to senior citizens on fixed deposit scheme with a tenure of 19 months to 20 months.
The bank categorically stated that the mentioned interest rates are applicable to resident, NRE and NRO savings accounts, and subject to change without prior notice.
According to the information on DCB Bank’s website, interest will be calculated on a daily basis based on end of day clear balance in the account and will be paid quarterly. The below-mentioned interest rates mentioned are applicable for the incremental balances that are present corresponding to the amount slabs mentioned.
DCB Bank Savings Bank Account Interest rates
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%
Resident Fixed Deposit Interest Rates
Tenure
Deposit Interest Rate
Effective Annualised Yield (% per annum) *
Rate for Senior Citizens (% per annum)
Effective Annualised Yield (% per annum) *
Single Deposit of less than INR 2 Cr.
7 days to 45 days
3.75%
3.75%
4.25%
4.25%
46 days to 90 days
4.00%
4.00%
4.50%
4.50%
91 days to less than 6 months
4.75%
4.75%
5.25%
5.25%
6 months to less than 10 months
6.20%
6.30%
6.70%
6.81%
10 months to less than 12 months
7.25%
7.38%
7.75%
7.90%
12 months
7.10%
7.29%
7.60%
7.82%
More than 12 months to 12 month 10 days
7.75%
7.98%
8.25%
8.51%
12 months 11 days to 17 months
7.15%
7.41%
7.65%
7.95%
17 months 1 day to 18 months 5 days
7.10%
7.42%
7.60%
7.97%
18 months 6 days to less than 19 months
7.40%
7.75%
7.90%
8.30%
19 months to 20 months
8.05%
8.47%
8.55%
9.02%
20 months 1 day to less than 700 days
7.40%
7.82%
7.90%
8.38%
700 days to 26 months
7.50%
8.01%
8.00%
8.58%
More than 26 months to less than 37 months
7.55%
8.39%
8.05%
9.00%
37 months to 38 months
7.75%
8.63%
8.25%
9.25%
More than 38 months to less than 61 months
7.40%
8.86%
7.90%
9.57%
61 months
7.65%
9.21%
8.15%
9.94%
More than 61 months to 120 months
7.25%
10.51%
7.75%
11.55%
DCB Rates for Domestic NON CALLABLE RETAIL Deposits
The below-mentioned interest rates on Deposit NON CALLABLE (%per annum) for single deposit of above Rs 1 crore to less than Rs 2 crore are as follows:
For 12 months tenure interest rate is 7.40 per cent
More than 12 months to 12 months 10 days: 8.10 per cent
12 months 11 days to 18 months 5 days: 7.40 per cent interest rate
18 months 6 days to less than 19 months: 7.75 per cent
19 months to 20 months” 8.15 per cent
20 months 1 day to less than 700 days: 7.75 percent
700 days to 26 months: 7.80 per cent
More than 26 months to less than 37 months: 7.85 per cent
37 months to 38 months: 8.10 per cent
More than 38 months to 60 months: 7.65 per cent
DCB Bank has revised its interest rates on savings account and fixed deposits interest rates with effect from May 22, 2024. The bank said that interest rates are subject to change without prior notice. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
