DCB Bank FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 6.25% (for 18 months to 120 months ) |
| For 1 year | 5.55% |
| For 2 year | 6.25% |
| For 3 year | 6.25% |
| For 4 year | 6.25% |
| For 5 year | 6.25% |
| Tax-Saving FD | 6.25% |
Table of Contents
DCB Bank FD Rates 2022
Fixed Deposit Interest Rates on Domestic deposits of less than Rs 2 crore w.e.f. 07 March, 2022
| Tenure | Regular Citizens | Senior Citizens |
| 7 days to 14 days | 4.35% | 4.85% |
| 15 days to 45 days | 4.35% | 4.85% |
| 46 days to 90 days | 4.35% | 4.85% |
| 91 days to less than 6 months | 5.05% | 5.55% |
| 6 months to less than 12 months | 5.25% | 5.75% |
| 12 months | 5.55% | 6.05% |
| More than 12 months to less than 15 months | 5.30% | 5.80% |
| 15 months to less than 18 months | 6.00% | 6.50% |
| 18 months to less than 700 days | 6.25% | 6.75% |
| 700 days | 6.25% | 6.75% |
| More than 700 days to less than 36 months | 6.25% | 6.75% |
| 36 months | 6.25% | 6.75% |
| More than 36 months to 60 months | 6.25% | 6.75% |
| More than 60 months to 120 months | 6.25% | 6.75% |
DCB Bank Tax Saver Deposit
| Tenure | Regular Citizens | Senior Citizens |
| 5 years | 6.25% | 6.75% |
NRE Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 07 March, 2022
| Tenure | Regular Citizens |
| 12 months | 5.55% |
| More than 12 months to less than 15 months | 5.30% |
| 15 months to less than 18 months | 6.00% |
| 18 months to less than 700 days | 6.25% |
| 700 days | 6.25% |
| More than 700 days to less than 36 month | 6.25% |
| 36 months to 120 months | 6.25% |
NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 07 March, 2022
| Tenure | Regular Citizens |
| 7 days to 14 days | 4.35% |
| 15 days to 45 days | 4.35% |
| 46 days to 90 days | 4.35% |
| 91 days to less than 6 months | 5.05% |
| 6 Months to less than 12 months | 5.25% |
| 12 months | 5.55% |
| More than 12 months to less than 15 months | 5.30% |
| 15 months to less than 18 months | 6.00% |
| 18 months to less than 700 days | 6.25% |
| 700 days | 6.25% |
| More than 700 days to less than 36 months | 6.25% |
| 36 months to 120 months | 6.25% |
FCNR (B) Fixed Deposit Interest Rates w.e.f. 14 March 2022
| Currency | 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 | 1.60% | 1.90% | 1.90% | 1.90% | 1.90% |
| GBP | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| EUR | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
| AUD | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| CAD | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
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 is offered to senior citizens FD depositors
- Minimum deposit amount: Rs 10,000
- Tenure:7 days – 10 years
- Monthly/Half yearly/Quarterly/Yearly basis payout options are available
- Depositors can avail loans/overdrafts of up to 80% against fixed deposits
- Automatic renewal facility is available
DCB Tax Saver Fixed Deposit
- Deposits are eligible for 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 payout option is available
- Loan against deposits is not allowed
- FD cannot be used as collateral for availing loan
- Senior citizens are offered an additional 0.5% over and above the domestic FD rates
- Auto renewal facility is not available
DCB ZIPPI Online Fixed Deposit
- This scheme allows depositors to open 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 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 benefit coverage will cease to exist
- Depositors can avail 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 payout 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 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 payout option is also possible
- The funds in NRE deposits are repatriable
- Overdraft of up to 85% is allowed against 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 payout 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 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 FD amount
- In case of overdraft facility, 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. So the investors can also decide a preferred tenure of investment by entering different rates and calculating their total earning. 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. Can an account holder obtain a loan against his/her Tax-Saver FD?
A. No, as per the rules of the government an account holder cannot obtain a loan against his/her Tax-Saver FD.
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:
- PAN Card
- Passport
- Pension Card
- Government Identity Card
- School Leaving Certificate
- Birth Certificate