DCB Bank has announced revised fixed deposit (FD) interest rates for deposits below Rs 2 crore, which will be effective from September 1, 2023. The bank is now offering an FD interest rate of 7.75% to general customers and 8.50% to senior citizens, after the revision. Previously, the bank had offered the highest interest rate of 8% to general customers.
The revised interest rates for term deposits of varying tenures are as follows:
– For deposits maturing in 7 days to 45 days, the interest rate is 3.75%.
– For tenures ranging from 46 days to 90 days, the interest rate is 4.00%.
– Deposits maturing in 91 days to less than 6 months will earn an interest rate of 4.75%.
– For deposits maturing in 6 months to less than 12 months, the interest rate is 6.25%.
– Deposits between 12 months to less than 12 months 10 days will earn an interest rate of 7.15% after the revision, while 12 months 10 days deposits will earn an interest rate of 7.25%.
The interest rates for deposits with longer tenures are as follows:
– Deposits with maturities between 12 months 11 days to less than 18 months 5 days will earn an interest rate of 7.15%, and those ranging from 18 months 6 days to less than 700 days will earn 7.50%.
– DCB Bank offers an interest rate of 7.55% on tenure of 700 days to less than 25 months, and the highest interest rate of 7.75% on tenure of 25 months and 37 months.
– For tenures more than 25 months to less than 37 months, the bank offers an interest rate of 7.60%, and for tenures more than 37 months to less than 61 months, the interest rate is 7.40%.
Finally, for deposits with maturities more than 61 months to 120 months, the bank offers an interest rate of 7.25%.
It should be noted that senior citizens can enjoy higher interest rates. The bank offers the highest interest rate of 8.50% for senior citizens on tenures of 25 months and 37 months, while tenures ranging from more than 25 months to less than 37 months will earn an interest rate of 8.35%.
This revision in FD interest rates by DCB Bank provides an attractive opportunity for individuals looking to invest their funds and earn competitive returns.
