DCB Fixed Deposit Rate

0 / 5

Write Review

DCB Bank Fixed Deposit Rate

DCB Fixed Deposit Rate - FD Rate in India

A Fixed Deposit (FD) is one of the most popular financial instruments among the general population in India as it is a safe and reliable investment which provides a higher rate of interest than a regular savings account. It is considered to be a low-risk form of saving. The rewards are proportionately low as well when compared to investing in the stock market, for example, but is free from volatility and fluctuation.

Money can be deposited in an FD account for a period that typically ranges from 7 days to 10 years. Banks are free to set their own FD interest rate which in India can generally range from 3.5% - 8% (or more) depending on the tenure and amount among other factors. If you have some extra money that you wish to invest, opening an FD is a simple and safe option, with minimal documentation required.

Apart from banks, NBFCs and corporates too offer fixed deposits.

DCB Bank deposit rates

The rate of interest paid on a fixed deposit varies according to the amount deposited, period and the issuing bank. DCB Bank Interest Rates typically ranges from 4%-9% per annum.

The defining criteria for a fixed deposit is that the money cannot be withdrawn before maturity, unless on payment of a penalty. Once the deposit matures, the bank credits the original amount plus the interest earned to the bank account specified when the FD is opened. The money deposited earns the same fixed rate of interest throughout the entire FD period (except for certain kinds of floating rate deposits).

DCB bank offers attractive interest rates and flexible interest payment options. You can choose to reinvest the principal and interest accrued and benefit from the power of quarterly compounding. There are two kinds of interest payout options: monthly or quarterly basis. If you are in need of urgent funds as in case of an emergency, you can opt for the Overdraft facility and avail a loan against your FD.

DCB Bank FD rates

Following is an overview of DCB Bank Term Deposit Rates and DCB Bank Short-Term Fixed Deposit Interest Rates.

DCB bank interest rates on fixed deposits 2015 – 2016:

(Do keep in mind that these rates can change at any time and can be changed at the sole discretion of the Bank. For the latest rates, it is advisable to check with DCB Bank directly.)

Resident Indians Fixed Deposit Interest Rates

Tenure Deposit Interest Rate per annum < Rs.100 lakhs Effective Annualized Yield
7 days to 14 days 4.00% 4.00%
15 days to 45 days 4.00% 4.00%
46 days to 90 days 5.00% 5.00%
91 days to less than 6 months 6.25% 6.25%
6 months to less than 12 months 7.40% 7.57%
12 months to less than 13 months 7.70% 7.93%
13 months to less than 18 months 7.75% 8.06%
18 months to less than 24 months 7.80% 8.27%
24 months to 36 months 7.90% 8.82%
More than 36 months to 60 months 7.90% 9.57%
More than 60 months to 120 months 7.80% 11.65%

Interest Rates for Domestic / NRO / NRE Bulk Deposits. Note that the minimum tenure for NRE FDs is 12 months.

Tenure Deposit Interest Rate for deposit of Rs 1 Crore to Rs 5 Crores
7 days to 14 days 5.00%
15 days to 45 days 5.25%
46 days to 60 days 6.25%
61 days to 89 days 6.50%
90 days to less than 6 months 6.75%
6 months to less than 9 months 7.10%
9 months to less than 12 months 7.40%
12 months to less than 18 months 7.60%
18 months to 36 months 7.65%
More than 36 months to 120 months 7.50%

NRE FD (Non Resident External Fixed Deposit) Interest Rates

Tenure Deposit Interest Rate (% per annum) < Rs.100 lakhs Effective Annualized Yield
12 months to less than 13 months 7.70% 7.93%
13 months to less than 18 months 7.75% 8.06%
18 months to less than 24 months 7.80% 8.27%
24 months to 36 months 7.90% 8.82%
More than 36 months to 60 months 7.90% 9.57%
More than 60 months to 120 months 7.80% 11.65%

NRO FD (Non Resident Ordinary Fixed Deposit) Interest Rates

Tenure Deposit Interest Rate (% per annum) < Rs.100 lakhs Effective Annualized Yield
7 to 14 days 4.00% 4.00%
15 days to 45 days 4.00% 4.00%
91 days to less than 6 months 6.25% 6.25%
6 months to less than 12 months 7.40% 7.57%
12 months to less than 13 months 7.70% 7.93%
13 months to less than 18 months 7.75% 8.06%
18 months to less than 24 months 7.80% 8.27%
24 months to 36 months 7.90% 8.82%
More than 36 months to 60 months 7.90% 9.57%
More than 60 months to 120 months 7.80% 11.65%

DCB Bank FD Interest Rates for Senior Citizens

DCB Bank offers special Senior Citizen FD Rates which is 0.5% p.a. over the rates as applicable for a regular FD.

DCB Bank Senior Citizen FD Rates:

Tenure Rate for Senior Citizens Effective Annualized Yield
7 days to 14 days 4.50% 4.50%
15 days to 45 days 4.50% 4.50%
46 days to 90 days 5.50% 5.50%
91 days to less than 6 months 6.75% 6.75%
6 months to less than 12 months 7.90% 8.10%
12 months to less than 13 months 8.20% 8.46%
13 months to less than 18 months 8.25% 8.60%
18 months to less than 24 months 8.30% 8.83%
24 months to 36 months 8.40% 9.44%
More than 36 months to 60 months 8.40% 10.31%
More than 60 months to 120 months 8.30% 12.74%

How to Calculate DCB Bank Fixed Deposit Interest

You can use online resources to calculate the interest accrued on your DCB Bank FD. There are several online sites that allow you to instantly calculate the interest earned. All you have to do is enter the FD amount, tenure and rate of interest – the calculator will do the number crunching and present you with a breakup of the interest earned and the maturity amount. You can enter as many combinations as you want, and the calculator will give you instant and accurate results.

You can also calculate the interest earned and the maturity value on the principal amount using the following formula:

Calculate DCB FD Rate

A = P x (1 + r/n)nt

I = A - P

Where

A = Maturity Value

P = Principal Amount

r = Rate of Interest

t = Number of Years

n = Compounded Interest Frequency

I = Interest Earned

DCB Bank FD Premature Withdrawal Penalty

Breaking a fixed deposit before the maturity date is possible and might come in handy if you are in an urgent need for funds – for example, in case of a medical emergency.

In such cases the bank will allow partial or complete withdrawal of the deposit before completion of the period of the deposit. This is subject to the terms agreed upon at the time of placing the deposit. For such premature withdrawals, the bank typically charges a small penalty which is communicated to you at the time of application of FD Deposit.

DCB Bank FD – FAQS

What is the eligibility for opening an FD account with DCB Bank?

All resident individuals including minors and Hindu undivided families are eligible to open an FD account with DCB Bank.

Who is a senior citizen?

A senior citizen is defined by DCB Bank as a person who has completed 60 years of age as on the date of opening the Fixed Deposit.

Is it possible to prematurely close the fixed deposit?

Yes. Nominal penal charges apply as specified by the bank from time to time. The penalty fee will be communicated to you at the time of booking the FD account.

While it is possible to prematurely close a regular fixed deposit account, keep in mind that premature closure of tax saver fixed deposit is not allowed before the completion of the lock-in period of 5 years.

Customer Reviews