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- Fixed Deposit
- DCB Bank
- DCB Bank Fixed Deposit
Private
DICGC
7.6%
Interest for 3 years
DCB Bank FD Interest Rates 2024
| Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
|---|---|---|
| 7 days - 1 month 14 days | 3.75% | 4.25% |
| 1 month 15 days - 2 months 29 days | 4% | 4.5% |
| 2 months 30 days - 5 months 26 days | 4.75% | 5.25% |
| 5 months 27 days - 9 months 28 days | 6.25% | 6.75% |
| 9 months 29 days - 11 months 27 days | 7.25% | 7.75% |
| 1 year - 1 year | 7.15% | 7.65% |
| 1 year 1 day - 1 year 10 days | 7.85% | 8.35% |
| 1 year 11 days - 1 year 6 months 4 days | 7.15% | 7.65% |
| 1 year 6 months 5 days - 1 year 10 months 28 days | 7.5% | 8% |
| 1 year 10 months 29 days - 2 years 29 days | 7.55% | 8.05% |
| 2 years 30 days - 2 years 2 months | 8% | 8.6% |
| 2 years 2 months 1 day - 3 years 29 days | 7.6% | 8.1% |
| 3 years 30 days - 3 years 2 months | 7.9% | 8.5% |
| 3 years 2 months 1 day - 5 years 28 days | 7.4% | 7.9% |
| 5 years 29 days - 5 years 29 days | 7.65% | 8.15% |
| 5 years 30 days - 9 years 11 months 26 days | 7.25% | 7.75% |
Note: All interest rates shown above are as on 6th Mar 2024
About DCB Bank FD
DCB Bank has deep roots in India since its inception in 1930s. The bank has a balance sheet size of Rs. 38,505 Cr as on 31st March 2020. The bank recorded a profit of Rs 338 Cr in FY20
3.75% - 8%
FD Rate
4.25% - 8.6%
FD Rate for Seniors
₹ 10000
Minimum Deposit
₹ 2 Crores
Maximum Deposit
-
Lock-in
-
FD Tenure
-
Loan against FD
CRISIL Rating
DCB Bank FD Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 7.6% | For 5 years with interest of 7.4% |
|---|---|---|
| ₹ 50,000 | ₹ 62,759 | ₹ 72,305 |
| ₹ 1 lakh | ₹ 1,25,518 | ₹ 1,44,609 |
| ₹ 2 lakh | ₹ 2,51,037 | ₹ 2,89,218 |
| ₹ 5 lakh | ₹ 6,27,591 | ₹ 7,23,045 |
| ₹ 10 lakh | ₹ 12,55,183 | ₹ 14,46,091 |
Compare DCB Bank Fixed Deposit Returns with Top Banks
Use FD calculator to change values and compare your returns from top banks.
vs
Utkal Grameen Bank FD
 | | |
|---|---|---|
| Maturity Amount | ₹ 1,07,389 | ₹ 1,06,697 |
| Total Investment Amount | ₹ 1,00,000 | ₹ 1,00,000 |
| Total Interest Gained | ₹7,389 | ₹ 6,697 |
Compare DCB Bank Fixed Deposit Rates with Top Banks
| Bank Name | FD Interest Rates |
|---|---|
 | 6.5% - 7% |
 | 6% - 6.5% |
 | 7.5% - 8% |
 | 5.6% - 5.6% |
 | 6.85% - 7.35% |
 | 6.75% - 7.25% |
 | 6.75% - 7.25% |
 | 7.3% - 8% |
 | 6.5% - 7% |
 | 6.5% - 7% |
Calculate DCB Bank FD Returns
₹1,00,000
Total Investment
7,389
Wealth Gained
₹1,07,389
Maturity Amount
Track your existing FDs
Explore Debt Funds, instead!
The flexible & tax efficient alternative to FDs.
DCB Bank Limited (formerly, Development Credit Bank Limited) is one of India’s emerging private sector banks. It started as a Credit Society in the 1930s and has now developed into a full-fledged bank. It offers various FD schemes for its investors. Their fixed deposits are quite flexible with their interest payments. The bank also offers premature withdrawal facility and loan against their fixed deposits. In this article, we have covered DCB Bank FD and its interest rates in detail.
The highest fixed deposit interest rate for DCB Bank is 6.95% for a regular investor for the tenure of 5-10 years. For the same tenure, the senior citizen FD rate of interest is 7.45%. Returns from DCB fixed deposits can be calculated using the Scripbox’s fixed deposit calculator.
Key Features of DCB Bank Fixed Deposit
Following are the key features of DCB Bank fixed deposits:
Tenure
The DCB Bank fixed deposit tenure ranges between 7 days to 10 years. Once invested, one cannot change the tenure of DCB Bank FD investment. However, investors can always opt for premature withdrawal. And they can close their existing DCB Bank FD and start a new FD with the desired tenure.
Minimum and Maximum Deposit Amount
The minimum investment for DCB fixed deposits is INR 10,000. For tax saving deposits, the minimum investment amount is INR 100. There is no limit on the maximum amount of investment except for tax saving fixed deposits, which is INR 1.5 lakhs per annum.
DCB Bank FD Rates
DCB bank fixed deposit rates are in the range of 4.75% p.a to 6.95% p.a.
Preferential Interest Rates
DCB Bank offers a preferential interest rates for senior citizens. Senior citizens qualify for an additional 0.5% interest rate on their FD investments.
Eligibility
To be able to open a fixed deposit account with DCB Bank, one needs to be eligible. Following are the eligible persons and entities.
- Resident individuals (single and joint)
- HUFs
- Partnership firms
- Public and Private companies
Documents required
To open an FD account with DCB Bank, one would need the following documents.
- PAN Card
- ID Proof (Aadhar Card, Driving License, Voter ID)
- Address Proof (Utility Bills, Passport, Voter ID, Municipal tax receipt)
- Age Proof (Passport, Pension Card, Birth Certificate, Government ID card, School Leaving Certificate)
Additional Payments
It is not possible to deposit any additional amount in an existing DCB FD. However, one can always invest in a fresh DCB FD with the additional amount.
Tax and TDS
Investment in DCB Tax Saver Fixed Deposit qualifies for tax saving under Section 80C of the Income Tax Act, 1961. One can claim the tax benefits while filing income tax returns. All other DCB fixed deposits do not qualify for tax saving.
The interest that one earns on their DCB Bank FD investments is taxable as per the investor’s income tax slab rates. Furthermore, DCB Bank deducts TDS of 10% (20% if PAN is not available) if income exceeds INR 40,000 (INR 50,000 for senior citizens).
To estimate if the interest income from DCB Bank FD is above or below the TDS threshold limit, one can use the DCB Bank fixed deposit calculator available online. Also, to estimate their tax liability one can use an Income Tax Calculator. Scripbox’s Income Tax Calculator is available online and is free to use. It helps in estimating one’s tax liability.
Safety
Under the Deposit Insurance Scheme of RBI, DICGC insures all DCB deposits up to INR 5,00,000.
Premature withdrawal
DCB Bank allows premature withdrawal of fixed deposits. However, they will charge a penalty for the same, which is subject to change from time to time. The penalty shall be in the form of interest. The same is deducted from the contracted FD interest rates.
Nomination Facility
Depositors can nominate beneficiaries for their DCB fixed deposits.
Auto-Renewal
DCB offers auto-renewal facilities to depositors for their fixed deposits.
Convenience
Opening and managing DCB FD investments is easy and convenient through their online portal.
Loan against FD and Overdraft
DCB Bank allows investors to take a loan against their FD investments. This will help them in meeting short term liquidity requirements without having to break their fixed deposits. Moreover, they do not have to go through the entire stress of the loan application process. The bank gives up to 80% of the deposit amount as loan.
Pan Card
A PAN card is mandatory to open a DCB Bank FD account. In case one doesn’t submit their PAN details, the bank will deduct TDS at 20% instead of 10%. Moreover, DCB Bank will not issue any TDS certificate. Also, all exemption certificates are invalid.
Requirement of savings account
Individuals need not have a DCB Bank account to open a fixed deposit account.
Types of Fixed Deposit Schemes offered by DCB
- Fixed Deposit
- Suraksha Fixed Deposit
- Tax Saver Fixed Deposit
- Diamond Khushiyali Deposit
- Zippi Online Fixed Deposit
Types of Fixed Deposit Schemes: In Detail
DCB Fixed Deposit
The scheme offers an attractive interest rate with flexible payment options.
- Tenure: 7 days to 10 years
- Minimum Depsoit Amount: INR 10,000
- Loan or Overdraft Facility: Available, depositors can avail a loan up to 80% of the deposit amount.
- Auto-renewal facility: Available
DCB Suraksha Fixed Deposit
The scheme helps depositors for a better future. It offers attractive returns as well as free life insurance for the family members of the depositor. The scheme also offers a maximum life insurance cover of INR 50,00,000. The insurance cover is valid from the age of 18 years, and till the account holder attains the age of 55 years.
Tenure: 36 months
DCB Tax Saver Fixed Deposit
The tax saver FD offers twin benefits. It offers attractive interest rates and also tax benefits to the depositor. Under Section 80C of the Income Tax Act, the depositors can claim tax benefit on deposits up to INR 1,50,000 per annum.
- Lock-in period: 5 years
- Minimum Amount: INR 10,000
- Maximum Amount: INR 1,50,000 per financial year
- Loan Facility: Not available
- Premature Withdrawal: Not allowed
DCB Diamond Khushiyali Deposit
The scheme offers long term benefits by securing monthly deposits and turning them into huge returns upon maturity. It helps the depositors to be ready for planned expenses in the future. The scheme offers an assured amount upon maturity. It also offers flexibility in payments and does not charge for missing any instalment.
Minimum Deposit Amount: INR 500 per month and in multiples of Re 1 thereafter
DCB Zippi Online Fixed Deposit
Zippi Online fixed deposit scheme is a convenient way of opening an account and also offers superior returns. One can easily open the account from home with just an Aadhaar card and pan card. Furthermore, the scheme offers the benefit of quarterly compounding by reinvesting the interest and principal. Also, depositors can choose their interest payout frequency, monthly or quarterly.
- Tenure: 30 days to 5 years
- Minimum Deposit Amount: INR 10,000 per transaction
- Maximum Deposit Amount: INR 5,00,000 per transaction
- Auto-Renewal: Available
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Frequently Asked Questions
What is the highest DCB Bank FD rate today?
The highest DCB Bank FD rates for general citizens is 8% p.a. and 8.6% p.a. for senior citizens.
What is the highest interest rate on DCB Bank 1 year FD scheme?
The highest interest rate on DCB Bank 1 year FD scheme is 7.25% p.a.
What is DCB Bank FD scheme interest rate for 5 years?
7.4% p.a is the interest rate for 5 years on DCB Bank FD scheme.
How many years FD will double in DCB Bank?
To know in how many years DCB Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years DCB Bank Bank FD will double. The current highest DCB Bank FD interest rate is 8% so investors will double the investment in 9.00 years. Similarly, senior citizen depositors will double their FD investment in 8.37 years, where the highest FD rate for senior citizens is 8.6%.
What is DCB Bank FD minimum deposit amount?
The minimum investment in DCB Bank FD is INR 10,000. However, there is no limit on the maximum amount of investment in DCB Bank FD.
What is senior citizen fixed deposit interest rates in DCB Bank?
The senior citizen fixed deposit interest rates in DCB Bank range between 4.25% to 8.6% p.a. for an available minimum and maximum investment duration.
What are the available FD tenures in DCB Bank?
DCB Bank FD tenure ranges from 7 days to 9 years 11 months 26 days
What is DCB Bank FD ROI for 10 lakh deposit for 1 year?
The interest from the DCB Bank FD calculator for 10 lakh deposit for 1 year will be INR 74,958. The maturity value will be INR 10,74,958. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in DCB Bank?
You can check DCB Bank FD balance either online or offline mode. For online mode, log in to the DCB Bank internet banking portal. Alternatively, you can visit the nearest DCB Bank bank to update your passbook for FD balance enquiry.
How many FDs can be opened in DCB Bank?
There is no restriction on the number of FDs you can open with DCB Bank.
