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DCB Bank FD Calculator

DCB Bank Fixed Deposit Calculator 2020

Last Updated 13th Aug 2020

DCB Bank FDs have tenures ranging from 2 years 11 months 20 days to 9 years 10 months 15 days with maximum rate of interest of 6.95%. Interest rates for senior citizens are higher than the normal rates and ranges upto 7.45%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 4.75% to 5.25% ₹ 1,00,091 - ₹ 1,00,201
15 days to 45 days 5.05% to 5.55% ₹ 1,00,208 - ₹ 1,00,684
46 days to 90 days 5.25% to 5.75% ₹ 1,00,662 - ₹ 1,01,418
91 days to 179 days 5.75% to 6.25% ₹ 1,01,434 - ₹ 1,03,088
DCB Bank FD Maturity Calculator
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DCB Bank Fixed Deposit Calculator

DCB Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in DCB Bank. Bank may allow higher interest rate on larger deposits. DCB Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. DCB Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by DCB Bank is 6.95% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 2 years 11 months 20 days to 9 years 10 months 15 days.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 4.75% for a 2 years 11 months 20 days FD and a rate of 6.95% for a 9 years 10 months 15 days FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 4.75%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      DCB Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

DCB Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, DCB Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a DCB Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

The interest earned on a fixed deposit in DCB Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on DCB Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of DCB Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in DCB Bank FD for a 5-year tenure at an interest rate of % for depositors below 60 years and % for senior citizens. The maturity amount for this deposit amount is ₹ 1,00,000 and the total interest earned is ₹ 0 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 0 which is higher. The maturity schedule of DCB Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at % for Citizens below 60 years and at % for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2020 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2021 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2022 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2023 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2024 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2025 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000

DCB Bank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on DCB Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

FAQs

What is the highest interest earned on DCB Bank fixed deposit?

You can earn a maximum interest of 6.95% on DCB Bank fixed deposit.

How is DCB Bank FD interest calculated?

The formula to calculate interest on DCB Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in DCB Bank?

The growth of DCB Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in DCB Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in DCB Bank.

What are the minimum and maximum amounts that I can invest in an DCB Bank FD?

The minimum investment limit in DCB Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


DCB News - Sep 2020
  • 2020-08-07 : DCB Bank introduced virtual video booth for customer KYC
    DCB Bank striving to assist customers during the new normal of social distancing unveiled the virtual video booth for customer KYC for contactless onboarding of new customers. This enables any individuals to apply for DCB Bank FD through video-based KYC without visiting the branch or meeting a DCB Bank representative.
  • 2020-01-08 : New Fixed Deposit rates by DCB Bank
    DCB Bank revised its FD rates across all tenors. FD rates for 7 to 14 days is 5.40%, for 15 to 45 days it is 5.65%, the rate for 46 days to 90 days is 6.15%, it is 6.35% for 91 days to 6 months and for six months to less than 12 months the rate is 6.85%. The revised FD rate for long tenors of 12 months is 7%, for 12 months and one day to less than 15 months the rate is 7.25%, rate for 15 months to less than 18 months is 7.50%, for 18 months it is 7.60%, and for more than 18 months to less than 24 months, the rate is 7.50%. In addition to that for 24 months to less than 36 months, the interest rate is revised to 7.40%, for 36 months it is 7.70%, for more than 36 months to 60 months the rate is 7.50%, and for more than 60 months to less than 120 months, the new rate is 7.25%.
  • 2019-09-24 : Revised FD rates for DCB Bank
    With effect from September 18, 2019, DCB Bank has revised its interest rates on fixed deposits. The revised rate of interest for a period of 7-14 days is 5.40%; for 15-45 days the rate is 5.65%; the rate for 46-90 days is 6.15%; for 91 days to 6 months the rate is 6.35%, and for 6-12 months it is 7.00%. The rate for a longer tenure of 12-15 months is 7.25%; for 15-18 months it is 7.80%; for 18-24 months the rate is 7.75%; for 24-36 months the rate is 8.00%; for 36-60 months it is 7.75%, and for 60-120 months the revised rate is 7.25%.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More