DCB Bank revised its fixed deposit (FD) rates in the week ended May 25, 2024. After the revision, senior citizens can earn a maximum of 8.55 per cent on FDs of 19 to 20 months, including the extra 50 basis points for older people, and for the general public, it is 8.05 per cent.

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The bank provides both callable and non-callable FDs. Callable FDs allow premature withdrawals, while non-callable FDs are locked until maturity.

The revised rates are effective from May 22, 2024:

Callable FDs:

The DCB Bank offers a minimum of 4.25 per cent interest on FDs of 7 to 45 days. For sixmonths and above, it provides 6.70 per cent or more. To avail of the compounding interest, one must stay invested in the FD for at least six months as compounding happens every quarter.

Rates and Tenures:

-6.70 per cent for six months to less than 10 months

– 7.75 per cent for 10 months to less than 12 months

– 7.60 per cent for 12 months

– 8.25 per cent for 10 months to less than 12 months

-7.65 per cent for 12 months 11 days to 17 months

– 7.60 per cent for 17 months one day to 18 months five days

– 7.90 per cent for 18 months and six days to less than 19 months

– 8.55 per cent for 19 months to 20 months

– 7.90 per cent for 20 months one day to less than 700 days

– 8.00 per cent for 700 days to 26 months

For longer tenures: 

– 8.05 per cent for more than 26 months to less than 37 months

– 8.25 per cent for 37 months to 38 months

– 7.90 per cent for more than 38 months to less than 61 months

– 8.15 per cent for 61 months

– 7.75 per cent for more than 61 months to 120 months (Annualised yield at 11.55 per cent)

A penalty of 0.50 per cent is levied on the interest for premature withdrawals of callable FDs.

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Non-Callable FDs:

For non-callable FDs, the highest interest rate for deposits of Rs 1 crore to less than Rs 2 crore is 8.15 per cent. These FDs range from 12 to 60 months, as per the bank’s website.

The rates are as follows: 

– 7.40 per cent for 12 months

– 8.10 per cent for more than 12 months to 12 months 10 days

– 7.40 per cent for 12 months 11 days to 18 months five days

– 7.75 per cent for 18 months and six days to less than 19 months

– 8.15 per cent for 19 months to 20 months

– 7.75 per cent for 20 months one day to less than 700 days

– 7.80 per cent for 700 days to 26 months

– 7.85 per cent for more than 26 months to less than 37 months

– 8.10 per cent for 37 to 38 months

– 7.65 per cent for more than 38 months to 60 months