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DCB FD Calculator

DCB Bank Fixed Deposit Calculator 2022

Last Updated 11th Jan 2022

DCB Bank FDs have tenures ranging from 1 year 10 months 5 days to 2 years 11 months 20 days with maximum rate of interest of 5.95%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.45%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 4.35% 4.85% ₹ 1,00,083 - ₹ 1,00,186
15 days to 45 days 4.35% 4.85% ₹ 1,00,179 - ₹ 1,00,598
46 days to 90 days 4.35% 4.85% ₹ 1,00,548 - ₹ 1,01,196
91 days to 179 days 5.05% 5.55% ₹ 1,01,259 - ₹ 1,02,740
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DCB Bank Fixed Deposit Calculator

DCB Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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. Banks may allow a higher interest rate on larger deposits. DCB Bank offers a deposit amount in the range of Rs. 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 5.95% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 1 year 10 months 5 days to 2 years 11 months 20 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 4.35% for a 1 year 10 months 5 days FD and a rate of 5.95% for a 2 years 11 months 20 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 - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 4.35%. 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 a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

DCB Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- 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.
  • Cumulative- 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.

How is DCB Bank FD Rate Calculated?

DCB Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

DCB Bank FD Maturity Calculation for 5 Year

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.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in DCB Bank FD for a 5-year tenure at an interest rate of 5.95% for depositors below 60 years and 6.45% for senior citizens.The maturity schedule of DCB Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.95% for Citizens below 60 years and at 6.45% 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
2022 ₹ 6,084 ₹ 1,06,084 ₹ 6,608 ₹ 1,06,608
2023 ₹ 6,454 ₹ 1,12,538 ₹ 7,044 ₹ 1,13,652
2024 ₹ 6,847 ₹ 1,19,385 ₹ 7,510 ₹ 1,21,162
2025 ₹ 7,263 ₹ 1,26,648 ₹ 8,006 ₹ 1,29,168
2026 ₹ 7,705 ₹ 1,34,353 ₹ 8,535 ₹ 1,37,703

DCB Bank FD Calculator Formula

Along with an 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

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FAQs

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

You can earn a maximum interest of 5.95% on DCB Bank fixed deposits.

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.You can also use DCB Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. 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.

Can I withdraw my premature FD from DCB Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 1% of FD amount for premature withdrawal.

How can I calculate DCB Bank premature FD amount?

To calculate premature FD amount you can use DCB Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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DCB News - Jan 2022
  • 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, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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