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About DCB Bank Savings Account
A DCB Bank savings account provides a host of banking benefits including cashback for transactions made with DCB Debit Card, access to investment solutions, attractive rates for insurance policies, flexible easy accounts management, free any branch banking across any DCB Bank, Free NEFT / RTGS facility, mobile banking, internet banking and much more along with a competitive interest rate.
There are various benefits to having a savings account with DCB Bank. Following is an overview.
A savings account for your family, where a minimum of 2 and a maximum of 5 members may be grouped under this scheme
DCB Basic Savings Bank Deposit Account (BSBDA)
The minimum balance required in DCB Bank savings account differs with each kind of account. It is advisable to contact the bank directly for details. To enjoy cashback and other benefits, a certain amount needs to be maintained with the bank. Following is an overview:
AQB Rs. 50,000
AQB Rs. 10,000
Rs. 5,00,000 (n any combination across your savings account and fixed deposits held with the Bank).
DCB Bank savings account comes with attractive interest rates, and can go up to 5.50% depending on the daily balance, the amount in your account and the type of savings account held with the bank. For the latest interest rates, it is advisable to contact the bank directly.
The current interest rates for DCB Bank savings account are tabled below.
Average Balance in Quarter (INR)
Rate of Interest p.a. W.E.F 17th June 2020
On balances up to Rs. 1,00,000 in the account
On balances above Rs. 1,00,000 to less than 1,00,00,000 in the account
On balances from Rs.1,00,00,000 to less than Rs.2,00,00,000 in the account
On balances from Rs.2,00,00,000 to less than Rs.5,00,00,000 crore in the account
On balances from Rs.5,00,00,000 in the account
Different DCB Bank savings accounts have a different schedule of charges. Contact DCB Bank directly for the most up to date charges.
DCB Bank savings account opening is easy and hassle-free. You can opt to open a savings account online. All you need to do is enter your details and submit the online application form on the DCB Bank website. Once you are done, take a printout of your application form, sign it and send it across to your nearest DCB Bank branch along with self-attested copies of your KYC documents.
Alternatively, you can walk into your nearest DCB Bank branch with your KYC documents to have your DCB Bank savings account opened.
A savings account is the most common form of an interest-bearing account which is held with a bank. A savings account provides a nominal interest rate and is often the first bank account for many people
The most common use for a savings account is to store money safely and securely. Having a savings account also helps keep a track of all the transactions made by the account holder including withdrawals and deposits. Banks usually provide a statement of accounts, which you can use to track and keep account of credits and expenses. Money transfers are made easy when you have a savings account. You can also avail of various banking facilities like Net Banking, Phone banking etc. It also instils a habit of savings.
There are some downsides to a savings account as well. There are fees associated with a savings account unless you maintain a certain balance each month. The minimum balance required, interest rate and fees and charges vary from bank to bank. Banks also generally impose a limit on the number of withdrawals you can make from the ATM each month.
Savings accounts are also least profitable in terms of investment purposes. The interest on a savings account is far less when compared to that of an FD account. Though they are liquid investments and easily accessible in times of need, they offer low yields in comparison to other forms of savings.
1. Who is eligible to open a Classic DCB Bank Savings account?
All resident individuals are eligible to open this account.
2. Is it possible to open an DCB Bank savings account online?
Yes, absolutely. Just log on to their website, select the required savings account as per your savings needs, and apply!
3. How many accounts can be linked under a DCB Family Savings Account?
A minimum of 2 and a maximum of 5 accounts can be linked under one Family Savings Account.
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