Curated By: Business Desk
Last Updated: December 16, 2023, 18:35 IST
The revised rates of interest of FD in DCB have already come into impact from December 13, 2023.
DCB is now offering an rate of interest of 8 per cent to normal residents and eight.60 per cent to senior residents for a deposit of lower than Rs 2 crore.
A set deposit (FD) is a secure funding choice that means that you can accumulate an enormous sum of cash over a set interval at a set rate of interest. It is taken into account a assured return funding choice which is supplied by authorities banks, Non-Banking Financial Companies and India Post Office. The rates of interest differ in every financial institution. Some give excessive returns whereas different offers low. Among the personal banks, Development Credit Banks ( DCB) is among the monetary establishments which provide excessive-rates of interest on FDs. The financial institution has now revised its FD rates of interest. It has elevated its rates of interest by as much as 10 foundation factors.
DCB is now offering an rate of interest of 8 per cent to normal residents and eight.60 per cent to senior residents for a deposit of lower than Rs 2 crore. For the tenure of seven days to 45 days, the rate of interest for the FD in DCB is 3.75 per cent for normal residents and 4.25 per cent for senior residents. For 6 months to lower than 10 months, normal residents will obtain the rate of interest of 6.25 per cent and senior residents will get 6.75 per cent on their deposited sum. A yr tenure will grant an curiosity of seven.15 per cent for normal residents and seven.65 per cent for senior residents. However, for the tenure of 12 months 1 day to 12 months 10 days, the rate of interest shall be 7.85 per cent for the overall residents and eight.35 per cent for senior residents.
For a tenure of greater than 26 months to lower than 37 months, the rate of interest shall be 7.60 per cent and eight.10 per cent for senior residents. The mounted deposits for 37 months to 38 months are 7.90 per cent for normal residents and eight.50 per cent for senior residents. Interested depositors can verify the revised rates of interest of FDs of DCB by their official web site–https://www.dcbbank.com/. The upcoming new yr might be one of many causes for the hike in rates of interest.
