DCB Bank hikes FD rates of interest by as much as 40 bps: Now rise up to 7.50%

The non-public sector lender DCB Bank has hiked rates of interest on fastened deposits of lower than ₹2 Cr. According to the financial institution’s official web site, the brand new charges take impact on October 17, 2022. After the adjustment, the financial institution elevated rates of interest on deposits maturing in additional than 700 days to 60 months by as much as 50 foundation factors. As a outcome, most people can now earn as much as 7.50%, which is considerably greater than the present inflation price of seven.41% in September 2022.

DCB Bank FD Rates

The financial institution will proceed to provide an rate of interest of three.75% on deposits maturing within the subsequent 7 days to 90 days, and DCB Bank will proceed to supply an rate of interest of 4.50% on deposits maturing within the subsequent 91 days to lower than 6 months. The rate of interest on deposits that mature in 6 months to lower than 12 months will stay at 5.70%, whereas the rate of interest on time period deposits that mature in 12 months to lower than 15 months will stay at 6.10%.

On deposits maturing in 15 months to lower than 700 days, DCB Bank will proceed to offer an rate of interest of 6.75%, and on deposits maturing in 700 days, a price of seven.10%. The financial institution will now give an rate of interest of seven.50% on deposits maturing in additional than 700 days however lower than 36 months, up from 7.10% earlier than. DCB Bank will now supply an rate of interest of seven.50% on deposits maturing in 36 months, up from 7.10% beforehand, which is a hike of 40 bps.

On deposits maturing in additional than 36 months to 60 months, DCB Bank elevated its rate of interest by 25 foundation factors, from 7% to 7.25%. On deposits maturing in additional than 60 months to 120 months, the financial institution will proceed to offer a 7.00% rate of interest.

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DCB Bank FD Rates (dcbbank.com)

Additionally, Suraksha Fixed Deposit (FD), which has a time period of three years and a high-interest price of seven.10% per yr, has lately been reintroduced by DCB Bank. This FD additionally comes with complimentary life insurance coverage protection of as much as Rs. 10 lakh. The 36-month time period life insurance coverage coverage supplied by DCB Suraksha FD is efficient from the age of 18 till the depositor turns 55.

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