The bank has reduced the interest rates on FDs by up to 65 bps. Senior citizens are also getting extra interest. The maximum interest rate for general citizens is 8.55%.
Highest returns: After the cut in repo rate, many banks have started changing the interest rates of loans and fixed deposits (FD). There are chances of reduction in FD interest rates in the coming days. It has already started. Private sector DCB Bank has cut the interest rates of fixed deposits by 65 bps. Some FD tenures less than Rs 3 crore will get lower returns than before. The new rates are effective from 14 February 2025.
Even after the cut in interest rates of HD, this bank is offering better returns to the customers than many private and government banks. General citizens are getting at least 3.75% and maximum 8.05% interest on FDs ranging from 7 days to 120 months. Senior citizens are also getting 0.50 percent extra interest, for them the interest rate is from 4.25% to 8.55%.
Highest returns will be available on FDs of this duration
The bank is offering the highest returns on tenures of 19 months to 20 months. General citizens are getting 7.10% interest and senior citizens are getting 7.60% interest on one year FD. The bank is offering more than 7% return on all tenures of 10 months and above.
Interest rates as per tenure (Fixed Deposit)
7 to 45 days – 3.75%
46 to 90 days – 4%
91 days to less than 6 months – 4.75%
6 months to less than 10 months – 6.20%
10 months to less than 12 months – 7.25%
12 months – 7.10%
More than 12 months and up to 12 months 10 days – 7.75%
12 months 11 days to 17 months – 7.15%
17 months 1 day to 18 months 5 days – 7.10%
18 months 6 days to less than 19 months – 7.40%
19 months to 20 months – 8.05%
20 months 1 day to less than 700 days – 7.40%
700 days to Up to 26 months – 7.50%
More than 26 months and less than 37 months – 7.50%
From 37 months to 38 months – 7.85%
More than 38 months and up to 61 months – 7.40%
61 months – 7.65%
More than 61 months and up to 120 months – 7.25%
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