DCB Bank Fixed Deposit Interest Rate

Fixed Deposit or FD is a good interest rate investment option. DCB Bank offers a Fixed Deposit Account with a high interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank.

Benefits of DCB Bank Fixed Deposit

  • You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
  • Multiple fixed deposits can open.
  • DCB Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
  • You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
  • If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.

Fixed Deposit Eligibility

  • Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
  • The applicant must have a savings account in the bank.

Income Tax Facts on DCB Bank Fixed Deposit Interest

If you are looking for income tax fact on Fixed Deposit interest, then you can check below:

  • If Fixed Deposit interest is less then Rs. 40, 000/-, then the DCB Bank will deduct TDS on interest.
  • Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
  • If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in DCB Bank.

DCB Bank Tax Benefit Fixed Deposit

  • Interest Rate is 6.5% for 5 years term deposits.
  • The amount can not withdraw before five years.
  • The deposit account can not transfer to another bank.
See also  IndusInd Bank Fixed Deposit Interest Rate

DCB Bank Fixed Deposit Interest Rate

Resident Indians Fixed Deposit Interest Rates (with effect from 01st February, 2020)
Tenure Deposit Interest Rate
(percent per annum)
Effective Annualised Yield (% per annum) * Rate for Senior Citizens (% per annum) Effective Annualised Yield (% per annum) *
Single Deposit of less than Rs.2 Cr.
7 days to 14 days 5.40% 5.40% 5.90% 5.90%
15 days to 45 days 5.65% 5.65% 6.15% 6.15%
46 days to 90 days 6.15% 6.15% 6.65% 6.65%
91 days to less than 6 months 6.35% 6.35% 6.85% 6.85%
6 months to less than 12 months 6.85% 7.00% 7.35% 7.52%
12 months 6.95% 7.13% 7.45% 7.66%
12 months 1 day to less than 15 months 7.20% 7.40% 7.70% 7.93%
15 months to less than 18 months 7.40% 7.68% 7.90% 8.22%
18 months 7.50% 7.86% 8.00% 8.41%
More than 18 months to less than 24 months 7.40% 7.82% 7.90% 8.38%
24 months 7.30% 7.78 % 7.80% 8.35%
More than 24 months to less then 36 months 7.30% 8.00% 7.80% 8.61%
36 months 7.60% 8.45% 8.10% 9.07%
More than 36 months to 60 months 7.50% 9.00% 8.00% 9.72%
More than 60 months to 120 months 7.25% 10.51% 7.75% 11.55%

 

Interest Rates for Domestic / NRO / NRE** Bulk Deposits (Effective For 20th February, 2020 Only)
Tenure Deposit Interest rate (%per annum) for single deposit of Rs. 2 Cr. to less than  Rs. 5 Cr.
Regular Non – Callable
7 days to 14 days 4.00%
15 days to 30 days 4.00%
31 days to 45 days 4.25%
46 days to 60 days 4.50%
61 days to 89 days 5.00% 5.10%
90 days to less than 6 months 5.25% 5.50%
6 months to less than 9 months 5.75% 6.25%
9 months to less than 12 months 6.00% 6.50%
12 months to less than 15 months 6.75% 7.00%
15 months to less than 18 months 7.00% 7.15%
18 months to 36 months 7.00% 7.15%
More than 36 months to 60 months 7.00% 7.15%
More than 60 months to 120 months 7.00% 7.15%
See also  Bandhan Bank Fixed Deposit Interest Rate

 

Interest Rates for Domestic / NRO / NRE** Bulk Deposits (Effective for 20th February, 2020 Only)
Tenure Deposit Interest rate (%per annum) for single deposit of Rs. 5 Cr. to less than Rs. 20 Cr.)
Regular Non – Callable
7 days to 14 days 4.00%
15 days to 30 days 4.00%
31 days to 45 days 4.25%
46 days to 60 days 4.50%
61 days to 89 days 5.00% 5.10%
90 days to less than 6 months 5.25% 5.50%
6 months to less than 9 months 5.75% 6.25%
9 months to less than 12 months 6.00% 6.50%
12 months to less than 15 months 6.75% 7.00%
15 months to less than 18 months 7.00% 7.15%
18 months to 36 months 7.00% 7.15%
More than 36 months to 60 months 7.00% 7.15%
More than 60 months to 120 months 7.00% 7.15%

 

Interest Rates for Domestic / NRO / NRE** Bulk Deposits (Effective for 20th February, 2020 Only)
Tenure Deposit Interest rate (%per annum) for single deposit of Rs. 20 Cr. and above
Regular Non – Callable
7 days to 14 days 4.00%
15 days to 30 days 4.00%
31 days to 45 days 4.25%
46 days to 60 days 4.50%
61 days to 89 days 5.00% 5.10%
90 days to less than 6 months 5.25% 5.50%
6 months to less than 9 months 5.75% 6.25%
9 months to less than 12 months 6.00% 6.50%
12 months to less than 15 months 6.75% 7.00%
15 months to less than 18 months 7.00% 7.15%
18 months to 36 months 7.00% 7.15%
More than 36 months to 60 months 7.00% 7.15%
More than 60 months to 120 months 7.00% 7.15%
See also  Canara Bank Fixed Deposit Interest Rate

 

Penalty for Premature Closure of Resident Deposits
Size of Deposit 7 – 13 days 14 – 29 days 30 days & above
Less than Rs. 2 crore No Interest 0.50% less than the applicable rate 0.50% less than the applicable rate
Rs. 2 crore and above No Interest No Interest 2% less than the applicable rate

 

Interest rate on Savings Bank Account w.e.f. 11-09-2019
Daily Balances in Savings Account (in INR) Amount (in INR) eligible for interest calculation Rate of Interest p.a.
Upto 1 lakh Upto 1 lakh 3.50%
1 lakh to less than 1 crore Upto 1 lakh 3.50%
Above 1 lakh 4.00%
1 crore to less than 5 crore Upto 1 lakh 3.50%
Above 1 lakh 6.00%
5 crore and above Upto 1 lakh 3.50%
Above 1 lakh 6.25%

Leave a Comment