DCB Bank FD Rates

DCB Bank Tax Saver Deposit

Tenure	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens
5 years	7.40	7.90

NRE Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 27 September 2023

Tenure	Interest Rates (% p.a.)
12 months	7.15
Above 12 months to less than 12 months 10 days	7.75
12 months 11 days to less than 18 months 5 days	7.15
18 months 6 days to less than 700 days	7.50
700 days to less than 25 months	7.55
25 months to less than 26 months	7.90
Above 26 months to less than 37 months	7.60
37 months to less than 38 months	7.90
Above 38 months to less than 61 months	7.40
61 months	7.65
Above 61 months to 120 months	7.25

NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 27 September 2023

Tenure	Interest Rates (% p.a.)
7 days to 45 days	3.75
46 days to 90 days	4.00
91 days to less than 6 months	4.75
6 months to less than 10 months	6.25
10 months to less than 12 months	7.25
12 months	7.15
Above 12 months to less than 12 months 10 days	7.75
12 months 11 days to less than 18 months 5 days	7.15
18 months 6 days to less than 700 days	7.50
700 days to less than 25 months	7.55
25 months to 26 months	7.90
Above 26 months to less than 37 months	7.60
37 months to 38 months	7.90
Above 38 months to less than 61 months	7.40
61 months	7.65
Above 61 months to 120 months	7.25

FCNR (B) Fixed Deposit Interest Rates w.e.f. 13 November 2023

Currency	Interest Rates (% p.a.)
	1 year to less than 2 years	2 years to less than 3 years	3 years to less than 4 years	4 years to less than 5 years	5 years
USD	6.10	5.35	3.50	3.50	3.50
GBP	2.75	2.75	2.75	2.75	2.75
EUR	0.75	0.75	0.75	0.75	0.75
AUD	2.75	2.75	2.75	2.75	2.75
CAD	3.00	3.00	3.00	3.00	2.80

Types of DCB Bank FD Schemes

Regular Fixed Deposits (Reinvestment of Interest Component)

• This scheme allows reinvestment of the interest component to the deposit amount
• Additional 0.50% p.a. interest rates are offered to senior citizens FD depositors
• Minimum deposit amount: Rs 10,000
• Tenure:7 days – 10 years
• Monthly/Half-yearly/Quarterly/Yearly basis pay-out options are available
• Depositors can avail of loans/overdrafts of up to 80% against fixed deposits
• Automatic renewal facility is available

DCB Tax Saver Fixed Deposit

• Deposits are eligible for a tax deduction of up to Rs 1.5 lakhs in a financial year under section 80C of the Income Tax Act
• Deposit amount: Minimum: Rs 10,000; Maximum: Rs 1.5 lakhs in a financial year
• Tenure: 5 years
• Quarterly interest/quarterly compounding pay-out option is available
• Loan against deposits is not allowed
• FD cannot be used as collateral for availing loan
• Senior citizens are offered an additional 0.50% over and above the domestic FD rates
• Auto-renewal facility is not available

DCB ZIPPI Online Fixed Deposit

• This scheme allows depositors to open a fixed deposit online
• Deposit amount: Minimum- Rs 10,000; Maximum- Rs 50 lakhs
• Once KYC is completed through video KYC, depositors can open additional deposits for a period between 14 days to 10 years
• Tenure: 30 days – 5 years
• The principal amount and the interest earned will be transferred to the depositor’s existing bank account opened with other banks. DCB Savings Account is not required

DCB Health Plus Fixed Deposit

• This scheme provides free medical benefits and emergency services under ICICI Lombard Group Take Care Insurance Plan
• Minimum deposit amount: Rs 10,000
• Age eligibility: 18 years to 70 years
• Depositors can open a maximum of 4 DCB Health Plus Fixed Deposits
• The benefits under this scheme are available on the basis of the individual and not the cumulative amount of the FD
• These health benefits are applicable on a yearly basis. If a depositor does not use some health benefits throughout the year, they will expire at the completion of the year. A fresh set of similar benefits will be available to the depositors for the next year
• The certificate of insurance will be issued  within 15 working days of the FD opening via email
• Premature withdrawal is allowed. However, free health benefits coverage will cease to exist
• Depositors can avail of a loan/overdraft on the deposit amount
• Nomination facility is available
• The auto-renewal facility is available, provided at the time of renewal the bank still has a tie-up with the insurance provider
• IL Take Care app offered by ICICI Lombard General Insurance Company Ltd allows depositors access to the health benefits as per their eligibility. Any service not booked through the IL Take Care app will be excluded from the policy’s benefits

NRE Term Deposits

• Tenure: 1 year – 10 years
• No interest will be paid if the FD is closed before the completion of 1 year
• Deposits are compounded quarterly and paid half-yearly
• Simple interest pay-out option is also available
• The principal amount and interest earned are freely repatriable
• Overdraft facility is available against the deposits
• Premature withdrawal is allowed
• Overdraft of up to 85% is allowed against the FD amount
• In the case of an overdraft facility, an additional 2% interest rate will be charged over and above the FD interest rate

NRO Term Deposit

• Tenure: 7 days – 10 years
• The deposits are paid half-yearly but compounded quarterly
• Simple interest pay-out option is also possible
• The funds in NRE deposits are repatriable
• Overdraft of up to 85% is allowed against the FD amount

NRO Tax Saver Fixed Deposit

• Deposit amount: Minimum: 10,000; Maximum: Rs 1.5 lakhs in a financial year
• Tenure: 5 years – 10 years
• Lock in period: 5 years
• Quarterly or monthly interest pay-out option is available
• No partial or premature withdrawal is allowed
• Sweep-in not allowed
• Overdraft or pledge is not permitted

FCNR (B) Deposits

• This FD scheme can be opened in the following currencies: US Dollars (USD), British Pound Sterling (GBP), Euro, Australian Dollar (AUD), and Canadian Dollar (CAD)
• Tenure: 1 year – 5 years
• No interest will be paid if the FD is closed before the completion of 1 year
• Interest rates are compounded half-yearly
• The principal amount and interest earned are freely repatriable
• Overdraft of up to 70% is allowed against the FD amount
• In case of an overdraft facility, an additional 2% interest rate will be charged over the FD interest rate

Premature Withdrawal of Fixed Deposits – Penalty Charges

Interest will be paid after deducting the penal rate from the applicable interest rate. The applicable interest rate would be the interest rate applicable for the period of deposit for which the FD remained with the bank. No premature withdrawal is allowed in Tax Saving FD.

Penalty for Premature Closure of Resident/NRO Fixed Deposits

Deposit amount	7 – 13 days	14 – 29 days	30 days & above
Less than Rs 2 crore	No interest is paid	0.50% is deducted from the applicable interest rate	0.50% is deducted from the applicable interest rate
Rs 2 crore and above	No interest is paid	No Interest is paid	2% is deducted from the applicable interest rate

Penalty for Premature Closure of NRE Fixed Deposits

Deposit amount	Less than 1 year	1 year or more
Less than Rs 2 crore	No interest is paid	0.50% is deducted from the applicable interest rate
Rs 2 crore and above	No interest is paid	2% is deducted from the applicable interest rate

Penalty for Premature Closure of FCNR (B) Deposits

• Premature withdrawals of deposits (opened/renewed prior to 1st October 2021) of duration more than 1 year and up to 5 years, will be subject to a penalty rate of 1%
• Premature withdrawals of deposits (opened/on or after 1st October 2021) of duration more than 1 year and up to 5 years, will be subject to a penalty rate of 0.5%

DCB Bank Loan Against FD

DCB Bank provides its customers with the facility of Loan against fixed deposit at up to 80% at attractive interest rates. This helps customers get secured loans without having to liquidate their FD and lose interest.

FD Calculator

Investors can check the maturity amount of the scheme by using the FD Interest Rate Calculator at Paisabazaar. Also, DCB Bank FD Interest rates differ for different tenures. Investors can open a fixed deposit by comparing different interest rates and calculating their total earnings. In the case of reinvestment schemes, investors can check the interest and the maturity amount by using the compound interest calculator.

FAQs

Q. Is TDS applicable on DCB Bank Tax-Saver FD?

A. Tax is deducted at source, from the interest on Tax-Saver Fixed Deposit, as applicable, as per the Income Tax Act, 1961.

Q. Can an account holder prematurely close his/her fixed deposit account?

A. Yes, an account holder can prematurely close his/her fixed deposit account and will be charged penal interest as mentioned above.

Q. What is the minimum deposit amount for DCB Bank Fixed Deposit?

A. The minimum deposit amount for DCB bank fixed deposit is Rs. 10,000.

Q. What is the highest FD rate in DCB Bank?

A. The highest fixed deposit rate for DCB Bank is 7.75% for general citizens and 8.50% p.a. for senior citizens for a tenure of 25 months and 37 months.

Q. What documents are required to open a senior citizen’s regular fixed deposit?

A. The following documents can be accepted as valid proof of age for this purpose:

1. PAN Card
2. Passport
3. Pension Card
4. Government Identity Card
5. School Leaving Certificate
6. Birth Certificate