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DCB FD Interest Rates

DCB Fixed Deposit Rates 2020

Last Updated 07th May 2020

DCB Bank offers best FD rate of 7.35% on term deposits for a tenure of 2 years 11 months 20 days to 9 years 10 months 15 days. Current DCB Bank FD rates for senior citizens range from 5.50% to 7.85%. Fixed Deposits rates of DCB Bank are a function of many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank.

Tenure FD Rates Senior Citizen FD Rates
7 days to 14 days 5.00% 5.50%
15 days to 45 days 5.30% 5.80%
46 days to 90 days 5.50% 6.00%
91 days to 179 days 6.00% 6.50%
6 months to 364 days 6.60% 7.10%

DCB Fixed Deposit (FD)

DCB Bank FDs are one the best investment option available for depositors who are looking to invest in a fixed income instrument and earn higher returns than savings account. Key Features of DCB Bank FD are:

  • Deposit Amount: DCB Bank FD can be opened with an amount as a low to up to .
  • FD Tenure: Ranges between 7 days to 120 months.
  • Interest Rate Range: 5.00% p.a. to 7.35% p.a.
  • Senior Citizens FD Rate: 5.50% to 7.85% p.a.
  • Highest Interest Rate: As per today’s rate, DCB Bank’s highest interest rate on FD is 7.35% offered for a tenure of 120 months.
  • Safety of DCB Bank Deposits: DCB Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD: DCB Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto Renewal Facility: Available
  • Nomination Facility: Available
  • Popular FD Schemes:

DCB Bank Best FD Plan

We need to compare tenure wise FD rate of DCB Bank to choose the tenure at which it provides the highest interest rate. DCB Bank FD rates are best for the deposits with a tenure of 2 years 11 months 20 days to 9 years 10 months 15 days, wherein the current FD rate of interest is 7.35% p.a

If one is looking to invest in short term deposits with DCB Bank, FD interest rates range from 5.00% p.a. to 6.60% p.a for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short term DCB Bank FD rates for senior citizens range from 5.50% to 7.10% p.a.

If one is looking to invest in long term deposits, DCB Bank FD interest rates with tenure of 5 years to 120 months are a good choice with interest rates on deposits with a tenure of 120 months at 7.35%. Senior citizens are offered special rates from bank with highest deposit rates of 7.85% p.a. on long term FDs.

Fixed Deposits of DCB Bank have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in DCB Bank are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited

FD in DCB Bank – Premature Withdrawal

Premature closure of Term Deposit with DCB Bank is along with the lower interest rate of 1% than the contracted rate. The penal provisions for premature closure on DCB Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit DCB Bank

DCB Bank offers loan up to 0% against its own deposit. Note that DCB Bank will not give you loan against FD of any other bank. DCB Bank offers Loan against FD at the rate of 6% to 8.35%

FD Account Opening Process at DCB Bank

To open a Fixed Deposit account in DCB Bank, you can visit the official website and login to your account. Choose Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the DCB Bank FD after reading the terms and conditions.

Nomination Facility on DCB Bank FD

DCB Bank offers nomination facility on Fixed Deposit to claim the amount in case of the death of the depositor. An individual, single or joint account holders can appoint a nominee. Only one person can be appointed as nominee. You can fill nominee details while opening a DCB Bank fixed deposit. Nominee has to submit his/her identification proof at the time of claim.

DCB Bank Fixed Deposit Scheme

FAQs

What is the highest FD rate for DCB Bank?

You can earn a maximum interest of 7.35% on DCB Bank fixed deposit.

Are there any special rates for senior citizens FD of DCB Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 5.00% to 7.35%. Compared to this, the rate of senior citizens FD are in the range of 5.50% to 7.85%.

Can I deposit additional amount in my FD account?

No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

Who is eligible for opening an FD account in DCB Bank?

All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

Is it possible to change the tenure of my existing fixed deposit account with DCB Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with DCB Bank without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

What is the current interest rate on FD in DCB Bank?

Current interest for FD in DCB Bank ranges between 5.00% - 7.35%.

Can a customer open a FD account online in DCB Bank?

Yes, you can submit your application for opening a FD account on the website of DCB Bank. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.

In how many years FD will double in DCB Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 7.35%. For DCB Bank FD the number of years in which your FD will get doubled is; 72/7.35 = 10


DCB News - Jul 2020
  • 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