DCB Bank cuts FD interest rates by up to 50 bps: Check details
Big banks such as Axis Bank, Bank of India, PNB, IndusInd have also cut FD rates on select tenures in the last two months. DCB Bank is offering the highest FD interest rate of 7.75% to general customers and 8.50% for senior citizens, after the revision.
Latest DCB FD interest ratesThe bank is offering an interest rate of 3.75% on resident term deposits maturing in 7 days to 45 days, and an interest rate of 4.00% on tenures between 46 days to 90 days. Interest rates offered by DCB Bank on deposits maturing in 91 days to less than 6 months is 4.75%, and 6.25% for deposits maturing in 6 months to less than 10 months. Deposits with maturities between 10 and 15 months will earn interest at a rate of 7.25%, while bank offers 7.50% interest on deposits of 15 months to less than 700 days, earlier the interest rate was 7.75% for 18 months to less than 700 days. Whereas deposits with maturities between 700 and 36 months will now earn interest at a rate of 7.75% from earlier 8%, a dip of 25 bps. The interest rate offered by DCB Bank for deposits with maturities more than 36 months to less than 60 months is 7.50% from 7.75%. For tenure more than 60 months to 120 months, the bank now offers 7.25% from 7.75% a drop of 50 basis points.
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TenureDeposit Interest RateRate for Senior Citizens (% per annum)(percent per annum)Single Deposit of less than INR 2 Cr.7 days to 14 days3.75%4.25%15 days to 45 days3.75%4.25%46 days to 90 days4.00%4.50%91 days to less than 6 months4.75%5.25%6 months to less than 10 months6.25%6.75%10 months to less than 12 months7.25%7.75%12 months7.25%7.75%More than 12 months to less than 15 months7.25%7.75%15 months to less than 18 Read more on economictimes.indiatimes.com
