DCB Bank has increased savings accounts and fixed deposit interest rates for deposits below Rs 2 crore. The new rates are effective from March 10, 2023, according to the DCB Bank website.
After the revision, the bank is now offering the highest interest rate of 8% on savings accounts and FD interest rate of up to 8% for regular customers and 8.50% for senior citizens.
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DCB Bank savings account interest rates
The bank will offer an interest rate of 2.25% on accounts up to Rs 1 lakh, while DCB Bank will offer an interest rate of 4.00% on balances over Rs 1 lakh to below Rs 2 lakh. The bank will offer an interest rate of 5.00% with balances between Rs 2 lakh and less than Rs 5 lakh, while DCB Bank will pay an interest rate of 6.00% on accounts with balances between Rs 5 lakh to less than Rs 10 lakh.
For balances between Rs 10 lakh and less than Rs 50 lakh, DCB Bank will pay an interest rate of 7.00%. On balances between Rs 50 lakh and less than Rs 2 crore, DCB Bank will now offer an interest rate to 7.25%. Interest rate of 5.50% will be paid on account balances between 2 cr and less than 5 cr, and between 5 crore and less than 10 crore, at a rate of 7.00%.
DCB Bank is offering an interest rate of 8% on account balances between Rs 10 crore to less than Rs 200 crore, while a 5% interest rate for deposit beyond Rs 200 crore.
| Balance Range (INR) | Rate of Interest p.a. W.E.F March 10, 2023 |
| On balances up to 1 lakh in the account | 2.25% |
| On balances above 1 lakh to less than 2 lakh in the account | 4.00% |
| On balances from 2 lakh to less than 5 lakh in the account | 5.00% |
| On balances from 5 lakh to less than 10 lakh in the account | 6.00% |
| On balances from 10 lakh to less than 50 lakh in the account | 7.00% |
| On balances from 50 lakh to less than 2 Crore in the account | 7.25% |
| On balances from 2 cr to less than 5 crore in the account | 5.50% |
| On balances from 5 crore to less than 10 Crore in the account | 7.00% |
| On balances from 10 crore to less than 50 Crore in the account | 8.00% |
| On balances from 50 crore to less than 200 Crore in the account | 8.00% |
| On balances from 200 crore and above | 5.00% |
The above rates are applicable on resident, NRE, and NRO savings bank accounts. Interest will be paid quarterly and computed daily based on the account's end-of-day clear balance. Rates mentioned are relevant for the incremental balances that correspond to the specified amount slabs.
DCB Bank fixed deposit interest rates
The bank is offering an interest rate of 3.75% on resident term deposits maturing in 7 days to 45 days, and an interest rate of 4.00% on tenures between 46 days to 90 days. Interest rates offered by DCB Bank on deposits maturing in 91 days to less than 6 months is 4.75%, and 6.25% for deposits maturing in 6 months to less than 12 months.
Deposits with maturities between 12 and 15 months will earn interest at a rate of 7.25%, whereas deposits with maturities between 15 and 24 months will now earn interest at a rate of 8%. The interest rate offered by DCB Bank for deposits with maturities more than 24 months to less than 120 months is 7.60%.
| Tenure | Deposit Interest Rate | Rate for Senior Citizens (% per annum) |
| (percent per annum) | ||
| Single Deposit of less than INR 2 Cr. | ||
| 7 days to 14 days | 3.75% | 4.25% |
| 15 days to 45 days | 3.75% | 4.25% |
| 46 days to 90 days | 4.00% | 4.50% |
| 91 days to less than 6 months | 4.75% | 5.25% |
| 6 months to less than 12 months | 6.25% | 6.75% |
| 12 months | 7.25% | 7.75% |
| More than 12 months to less than 15 months | 7.25% | 7.75% |
| 15 months to less than 18 months | 8.00% | 8.50% |
| 18 months to less than 700 days | 8.00% | 8.50% |
| 700 days | 8.00% | 8.50% |
| More than 700 days to 24 months | 8.00% | 8.50% |
| More than 24 months to 36 months | 7.60% | 8.10% |
| More than 36 months to 60 months | 7.60% | 8.10% |
| More than 60 months to 120 months | 7.60% | 8.10% |
Source: Bank website
Senior citizens
DCB bank offers highest interest rate of 8.50% on tenure between 15 months to 24 months.
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