Dcb Bank is raising interest rates on local term deposits: check the new rates here

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Amid rising interest rates on bank deposits (FDs), another private sector lender, DCB Bank, has joined the bandwagon by raising interest rates on fixed deposits. On May 21, 2022, the bank revised the interest rate on India resident fixed deposits to less than 2 crore, and as a result of the change, the bank increased interest rates on deposits of all maturities. Previously, the bank offered a 4.35 percent interest rate on term deposits with maturities of 7 to 90 days, but that rate was increased by 45 basis points to 4.80 percent. DCB Bank increased the interest rate on term deposits with a maturity of 91 days to less than 6 months by 45 basis points from 5.05 percent to 5.50 percent.

For time deposits with a maturity of 6 to less than 12 months, the bank increased the rate by 45 basis points (bps) from 5.25 percent to 5.7 percent, while for deposits with a maturity of 12 months the bank increased the rate by 45 Basis points (bps) increased 45 basis points to 6 percent. DCB Bank is now offering an interest rate of 5.75 per cent, up from 5.30 per cent previously, an increase of 45 basis points for deposits over 12 months to under 15 months. Previously, the rate on deposits with a maturity of 15 to under 18 months was 6%, but was raised by 10 basis points to 6.10%.

DCB Bank is now offering an interest rate of 6.50 per cent on time deposits with a maturity of 18 to less than 36 months, up from 6.25 per cent previously, an increase of 25 basis points. In contrast, the rate on deposits with a maturity of 36 to 120 months was raised from 6.25 percent to 6.60 percent, an increase of 35 basis points. Seniors will continue to receive a 0.50 percent add-on benefit over the regular rate on insoles of all maturities. As a result of the revision, seniors now get interest rates ranging from 5.30 percent to 7.10 percent on deposits with maturities from 7 days to 120 months.

DCB Bank FD interest rates

Here are DCB Bank India-based fixed deposit interest rates as of May 21, 2022.

7 days to 14 days – 4.80%

15 days to 45 days – 4.80%

46 days to 90 days – 4.80%

91 days to less than 6 months – 5.50%

6 months to less than 12 months – 5.70%

12 months – 6.00%

More than 12 months to less than 15 months – 5.75%

15 months to less than 18 months – 6.10%

18 months to less than 700 days – 6.50%

700 days – 6.50%

More than 700 days to less than 36 months – 6.50%

36 months – 6.60%

More than 36 months to 60 months – 6.60%

More than 60 months to 120 months – 6.60%

DCB Bank FD rates for seniors

7 days to 14 days – 5.30%

15 days to 45 days – 5.30%

46 days to 90 days – 5.30%

91 days to less than 6 months – 6.00%

6 months to less than 12 months – 6.20%

12 months – 6.50%

More than 12 months to less than 15 months – 6.25%

15 months to less than 18 months – 6.60%

18 months to less than 700 days – 7.00%

700 days – 7.00%

More than 700 days to less than 36 months – 7.00%

36 months – 7.10%

More than 36 months to 60 months – 7.10%

More than 60 months to 120 months – 7.10%

DCB Bank also changed their interest rates on savings accounts on May 19, 2022. The bank is currently offering a maximum rate of 6.75 per cent on resident, NRE and NGO savings bank accounts as a result of the change.

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