Curated By: Business Desk
Last Updated: January 29, 2024, 20:02 IST
The cashback is capped at a most of Rs 625 per 30 days.
Account holders want to take care of a median quarterly steadiness of Rs 25,000 to qualify for the cashback rewards.
DCB Bank Ltd has unveiled its new financial savings scheme with a pretty cashback supply for its prospects. The DCB Happy Savings Account is aimed toward prospects who have interaction in substantial UPI transactions repeatedly.
The DCB Happy Savings Account requires a minimal common quarterly steadiness (AQB) of Rs 10,000. Account holders want to take care of an AQB of Rs 25,000 to qualify for the cashback rewards. Cashback for a given quarter will probably be deposited into the purchasers’ accounts within the first month of the following quarter.
The cashback is capped at Rs 625 per 30 days. The prospects can obtain a most cashback of Rs 7,500 per yr. This enticing cashback promotion is open to each new prospects and present account holders. The present account holders may choose to transform their financial savings accounts to the DCB Happy Savings Account.
Praveen Kutty, Head Retail and SME Banking at DCB Bank, said in a current interview that the product gives one of the best of each worlds — thrilling cashback rewards and a seamless banking expertise.
“We believe this account will empower our customers to make the most of their everyday banking, with the potential to earn significant cashback while maintaining the required average quarterly balance,” he mentioned.
According to Kutty, this can be a testomony to the financial institution’s dedication to offering revolutionary and rewarding banking options to their valued prospects. This cashback is proscribed to debit card transactions inside India solely.
Besides the DCB Happy Savings Account scheme, DCB Bank has provide you with one other incentive for purchasers. The lender has elevated the Fixed Deposit (FD) rates of interest by as much as 10 foundation factors (bps) for deposits beneath Rs 2 crore. According to the DCB Bank web site, the brand new charges had been carried out on December 13, 2023.
The financial institution gives the FD rate of interest of 8 per cent to common prospects and eight.60 per cent for senior residents, publish the revision. The financial institution has hiked the rate of interest by 10 bps on tenure 12 months 1 day to 12 month 10 days from 7.75 per cent to 7.85 per cent for common residents. For senior residents, it was elevated from 8.25 per cent to eight.35 per cent for a similar tenure.
