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Do you want to open a Fixed Deposit (FD) Account in DCB Bank? As you are reading this article, maybe you are. Cool! But when you are intending to open an FD account in DCB Bank or in any other bank, the most important thing to consider is the interest rate of FD. So, in this article, we will tell you about DCB Bank FD Rates of Interest, and all the other information regarding DCB Bank Fixed Deposit Account which you must know before opening an FD Account.
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DCB Bank FD Rates, 2022
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DCB Bank Resident Fixed Deposit Interest Rates
| Resident Indian Fixed Deposit Interest Rates (with effect from 07th March, 2022) | |||||
|---|---|---|---|---|---|
| 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 INR 2 Cr. | |||||
| 7 days to 14 days | 4.35% | 4.35% | 4.85% | 4.85% | |
| 15 days to 45 days | 4.35% | 4.35% | 4.85% | 4.85% | |
| 46 days to 90 days | 4.35% | 4.35% | 4.85% | 4.85% | |
| 91 days to less than 6 months | 5.05% | 5.05% | 5.55% | 5.55% | |
| 6 months to less than 12 months | 5.25% | 5.34% | 5.75% | 5.86% | |
| 12 months | 5.55% | 5.67% | 6.05% | 6.19% | |
| More than 12 months to less than 15 months | 5.30% | 5.41% | 5.80% | 5.93% | |
| 15 months to less than 18 months | 6.00% | 6.18% | 6.50% | 6.71% | |
| 18 months to less than 700 days | 6.25% | 6.55% | 6.75% | 7.10% | |
| 700 days | 6.25% | 6.55% | 6.75% | 7.10% | |
| More than 700 days to less than 36 months | 6.25% | 6.76% | 6.75% | 7.35% | |
| 36 months | 6.25% | 6.82% | 6.75% | 7.41% | |
| More than 36 months to 60 months | 6.25% | 7.27% | 6.75% | 7.95% |
| More than 60 months to 120 months | 6.25% | 8.59% | 6.75% | 9.53% |
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| Interest Rates for Domestic NON CALLABLE RETAIL Deposits (With effect from 07th March, 2022) | ||||||
|---|---|---|---|---|---|---|
| Tenure | Deposit NON CALLABLE Interest rate (%per annum) for single deposit of INR 25 Lakh to less than INR 2 Cr. | |||||
| Non – Callable | ||||||
| 15 months to less than 18 months | 6.50% | |||||
| 18 months to less than 700 days | 6.70% | |||||
| 700 days | 6.70% | |||||
| More than 700 days to less than 36 months | 6.70% | |||||
| 36 months | 6.70% | |||||
| More than 36 months to 60 Months | 6.50% | |||||
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| Interest Rates for Domestic / NRO / NRE** Bulk Deposits (with effect from 14th March, 2022) | ||||||
|---|---|---|---|---|---|---|
| Tenure | Deposit Interest rate (%per annum) for single deposit of INR 2 Cr. to less than INR 5 Cr. | |||||
| Regular | Non – Callable | |||||
| 7 days to 14 days | 3.00% | – | ||||
| 15 days to 30 days | 3.25% | – | ||||
| 31 days to 45 days | 3.50% | – | ||||
| 46 days to 60 days | 3.75% | – | ||||
| 61 days to 89 days | 3.80% | 4.00% | ||||
| 90 days to less than 6 months | 5.00% | 5.35% | ||||
| 6 months to less than 9 months | 5.25% | 5.60% | ||||
| 9 months to less than 12 months | 5.50% | 5.85% | ||||
| 12 months to less than 15 months | 6.75% | 6.85% | ||||
| 15 months to less than 18 months | 6.75% | 6.85% | ||||
| 18 months to less than 24 months | 6.75% | 6.85% | ||||
| 24 months | 6.75% | 6.85% | ||||
| More than 24 months to 36 months | 6.00% | 6.10% | ||||
| More than 36 months to 60 Months | 6.00% | 6.10% | ||||
| More than 60 months to 120 Months | 6.00% | 6.10% |
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| Interest Rates for Domestic / NRO / NRE** Bulk Deposits (with effect from 14th March, 2022) | ||||||
|---|---|---|---|---|---|---|
| Tenure | Deposit Interest rate (%per annum) for single deposit of INR 5 Cr. to less than INR 20 Cr.) | |||||
| Regular | Non – Callable | |||||
| 7 days to 14 days | 3.00% | – | ||||
| 15 days to 30 days | 3.25% | – | ||||
| 31 days to 45 days | 3.50% | – | ||||
| 46 days to 60 days | 3.75% | – | ||||
| 61 days to 89 days | 3.80% | 4.00% | ||||
| 90 days to less than 6 months | 5.00% | 5.35% | ||||
| 6 months to less than 9 months | 5.25% | 5.60% | ||||
| 9 months to less than 12 months | 5.50% | 5.85% | ||||
| 12 months to less than 15 months | 6.75% | 6.85% | ||||
| 15 months to less than 18 months | 6.75% | 6.85% | ||||
| 18 months to less than 24 months | 6.75% | 6.85% | ||||
| 24 months | 6.75% | 6.85% | ||||
| More than 24 months to 36 months | 6.00% | 6.10% | ||||
| More than 36 months to 60 months | 6.00% | 6.10% | ||||
| More than 60 months to 120 Months | 6.00% | 6.10% |
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| Interest Rates for Domestic / NRO / NRE** Bulk Deposits (with effect from 15th March, 2022) | ||||||
|---|---|---|---|---|---|---|
| Tenure | Deposit Interest rate (%per annum) for single deposit of INR 20 Cr. and above) | |||||
| Regular | Non – Callable | |||||
| 7 days to 14 days | 3.00% | – | ||||
| 15 days to 30 days | 3.25% | – | ||||
| 31 days to 45 days | 3.50% | – | ||||
| 46 days to 60 days | 3.75% | – | ||||
| 61 days to 89 days | 3.80% | 4.10% | ||||
| 90 days to less than 6 months | 4.50% | 5.00% | ||||
| 6 months to less than 9 months | 5.00% | 5.25% | ||||
| 9 months to less than 12 months | 5.20% | 5.40% | ||||
| 12 months to less than15 months | 5.23% | 5.45% | ||||
| 15 months to less than 18 months | 5.25% | 5.50% | ||||
| 18 months to less than 24 months | 5.25% | 5.50% | ||||
| 24 months to 36 months | 5.50% | 5.60% | ||||
| More than 36 months to 60 months | 5.50% | 5.60% | ||||
| More than 60 months to 120 Months | 5.50% | 5.60% |
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Penalty for Premature Closure of Resident Deposits in DCB Banks
| Penalty for Premature Closure of Resident Deposits | |||||
|---|---|---|---|---|---|
| Size of Deposit | 7 – 13 days | 14 – 29 days | 30 days & above | ||
| Less than INR 2 crore | No Interest | 0.50% less than the applicable rate | 0.50% less than the applicable rate | ||
| INR 2 crore and above | No Interest | No Interest | 2% less than the applicable rate | ||
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| NRE FD (Non Resident External Fixed Deposit) Interest Rates (with effect from 07th March, 2022) | |||||
|---|---|---|---|---|---|
| Tenure | Deposit Interest Rate (% per annum) | Effective Annualised Yield (% per annum) * | |||
| Single Deposit of less than INR 2 Cr. | |||||
| 12 months | 5.55% | 5.67% | |||
| More than 12 months to less than 15 months | 5.30% | 5.41% | |||
| 15 months to less than 18 months | 6.00% | 6.18% | |||
| 18 months to less than 700 days | 6.25% | 6.55% | |||
| 700 days | 6.25% | 6.55% | |||
| More than 700 days to less than 36 month | 6.25% | 6.76% | |||
| 36 months to 120 months | 6.25% | 8.59% | |||
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| Penalty for Premature Closure of NRE Deposits | |||||
|---|---|---|---|---|---|
| Size of Deposit | Less than 1 year | 1 year or more | |||
| Less than INR 2 crore | No Interest | 0.50% less than the applicable rate | |||
| INR 2 crore and above | No Interest | 2% less than the applicable rate | |||
| NRO FD (Non Resident Ordinary Fixed Deposit) Interest Rates (with effect from 07th March, 2022) | |||||
|---|---|---|---|---|---|
| Tenure | Deposit Interest Rate (% per annum) | Effective Annualised Yield (% per annum) * | |||
| Single Deposit of less than INR 2 Cr. | |||||
| 7 days to 14 days | 4.35% | 4.35% | |||
| 15 days to 45 days | 4.35% | 4.35% | |||
| 46 days to 90 days | 4.35% | 4.35% | |||
| 91 days to less than 6 months | 5.05% | 5.05% | |||
| 6 Months to less than 12 months | 5.25% | 5.34% | |||
| 12 months | 5.55% | 5.67% | |||
| More than 12 months to less than 15 months | 5.30% | 5.41% | |||
| 15 months to less than 18 months | 6.00% | 6.18% | |||
| 18 months to less than 700 days | 6.25% | 6.55% | |||
| 700 days | 6.25% | 6.55% | |||
| More than 700 days to less than 36 months | 6.25% | 6.76% | |||
| 36 months to 120 months | 6.25% | 8.59% | |||
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Penalty for Premature Closure of NRO Deposits in DCB Banks
| Penalty for Premature Closure of NRO Deposits | |||||
|---|---|---|---|---|---|
| Size of Deposit | 7 – 13 days | 14 – 29 days | 30 days & above | ||
| Less than INR 2 crore | No Interest | 0.50% less than the applicable rate | 0.50% less than the applicable rate | ||
| INR 2 crore and above | No Interest | No Interest | 2% less than the applicable rate | ||
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FCNR (B) Deposit Interest Rates Per Annum
| FCNR (B) Deposit Interest Rates Per Annum (with effect from 14th March, 2022) | |||||
|---|---|---|---|---|---|
| Currency | 1 year and above but less than 2 years | 2 years and above but 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% |
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DCB Bank FD Accounts
DCB Bank offers various types of Fixed Deposit Accounts. They are as below –
DCB FIXED DEPOSITS
- Attractive interest rates
- Flexible interest payment options
- 0.5% p.a. extra interest for senior citizens
- Tenure ranging from 7 days to 10 years
- Minimum deposit amount as low as Rs 10,000
- Flexible payment options:
- Benefit from the power of quarterly compounding by reinvesting the principal and interest
- Choose to take interest payout on monthly/Quarterly/Half-yearly/Yearly basis
- Need urgent funds? Avail of loan/OD against fixed deposits with a maximum drawing power of up to 80% of the value of the fixed deposits
- Automatic renewal of deposit! To ensure that your money doesn’t remain idle even for a single day, even if you happen to forget the due date.
DCB TAX SAVER FIXED DEPOSIT
Looking for avenues to save tax as well as get assured returns?
Invest in DCB Tax Saver Fixed Deposit and get the twin benefit!
- Claim tax benefit of up to Rs.1,50,000 in a financial year u/s 80C of Income Tax Act, 1961
- Opt for either quarterly compounding or quarterly interest payout
- Default tenure of 5 years
- No premature encashment of tax saver fixed deposit as per current tax laws
- Invest as low as Rs 10,000 up to Rs.1,50,000 in a financial year
- Tax Saver Fixed Deposit cannot be pledged as security to avail loan
- Tax Saver Fixed Deposit with the bank shall be subject to Tax Deduction at source as per Income Tax Act 1961
DCB DIAMOND KHUSHIYALI DEPOSIT
An offering that benefits you in the long run by securing your monthly deposits and turning them into huge returns at maturity. This helps you to be ready for planned future expenses with a systematic disciplined approach
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Decide your maturity value today and plan for the upcoming happy occasions of your life.
- Save and deposit small amounts every month. The larger the deposit amount per month, the higher the assured maturity value
- The minimum installment amount is Rs. 500 per month and in multiples of Re. 1 thereafter
- Assured amount at maturity
- Flexibility in making payments. No extra charges even if you miss your deposit installment
- Receive SMS alerts for monthly deposit installment
DCB ZIPPI ONLINE FIXED DEPOSIT
Experience maximum convenience and get superior returns with DCB Zippi Online Fixed Deposit. Open a fixed deposit simply with your Aadhaar and PAN from the comfort of your home!
- A truly online platform. No need to visit the Bank at all. Your Aadhaar and PAN are mandatory for opening a DCB Zippi Online Fixed Deposit Account
- Earn attractive returns on your idle funds
- Create and close your fixed deposits online from your home
- Receive interest and maturity amounts in your existing bank account in other banks. No need to open a new savings account
- Applicable for customers not having any existing relationship with DCB Bank
DCB HEALTH PLUS FIXED DEPOSIT
- A Fixed Deposit that offers attractive returns along with free medical benefits and emergency services!
- Free medical benefits and emergency services are offered under ICICI Lombard Group Take Care Insurance Plan.
How to Open DCB Bank Fixed Deposit Account?
- To open a fixed deposit account in DCB Bank, click on the below link and fill in all the details. A representative from DCB Bank will contact you and guide you on the matter. Otherwise, you can visit your nearest DCB Bank to open an FD Account.
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Click here to open DCB Bank FD Account
DCB Bank Contact Number
- For any queries, one can reach DCB Bank
- For NRIs
- Call: 91 22 61271000
- India: 022 68997777
- Email: [email protected]
- For NRIs
- For Resident Indians (IST 8:00am to 8:00pm)
- Call: 022 6899 7777 or 040 6815 7777
- Email: [email protected]
- Email for Demat account queries: [email protected]
- Email for Loan account queries: [email protected]
- For Resident Indians (IST 8:00am to 8:00pm)
Frequently Asked Questions about DCB Bank Fixed Deposit (FD)
- Who is a senior citizen? What documents are required to open a senior citizen’s regular fixed deposit?
- A person who has completed the age of 60 years on the date of booking of the Fixed Deposit / Recurring Deposit may be considered as a senior citizen for getting the special interest benefit for senior citizens. 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
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- A person who has completed the age of 60 years on the date of booking of the Fixed Deposit / Recurring Deposit may be considered as a senior citizen for getting the special interest benefit for senior citizens. The following documents can be accepted as valid proof of age for this purpose:
- When is TDS deducted for regular fixed deposits?
- TDS is deducted every time the Bank pays / credits / re-invests interest during the financial year. In addition, TDS is also deducted on interest accrued (but not due) at the end of the financial year viz. 31st March. TDS is also deducted on tax saver fixed deposits.
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- When does the Bank issue a TDS Certificate?
- The TDS Certificate, Form 16A, for TDS deducted during a calendar quarter, is issued as mentioned below:
| Different quarters | TDS certificate will be issued on or before |
|---|---|
| For the quarter ending 30 June of the financial year | 30 July of the financial year |
| For the quarter ending 30 September of the financial year | 30 October of the financial year |
| For the quarter ending 31 December of the financial year | 30 January of the financial year |
| For the quarter ending 31 March of the financial year | 30 May after the end of the financial year in which TDS is deducted |
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- As a Fixed Deposit holder, how do I apply for an exemption on TDS?
- If your total interest income for the year does not fall within the overall taxable limits, you can submit Form 15G (resident individuals) or Form 15H (senior citizen) at any of our branches, ideally at the time of booking the fixed deposit or in the 1st week of April where the fixed deposit was booked in the previous year.
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- When do I become liable for TDS?
- For Senior Citizens – If the aggregate interest that you are likely to earn for all your deposits held in the bank is greater than Rs. 50,000/- in a financial year, you become liable for TDS.
- For Regular Deposits – If the aggregate interest that you are likely to earn for all your deposits held in the bank is greater than Rs. 40,000/- in a financial year, you become liable for TDS.
- Note: Deposits held by minors are also subject to TDS. The credit for the TDS may be claimed by the person in charge of the minor and consequently the minor’s income.
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- When do I have to furnish my PAN to book a fixed deposit with your bank?
- If a fixed deposit exceeding Rs. 50,000/- is booked, then it is mandatory to mention a valid Permanent Account Number. In the absence of a Permanent Account Number, the depositor has to submit Form 60 / 61 as the case may be.
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- At what rate is TDS deducted?
- The latest TDS deduction rates are as below:
| Tax Rate | Surcharge | Education Cess | TOTAL | |
|---|---|---|---|---|
| Resident Individuals & HUF | 10% | —- | —- | 10% |
| Corporate Entity | 10% | —- | —- | 10% |
| Non-Resident Ordinary A/c (NRO A/c) | 30% | —- | 4% | 31.2% |
| Firms | 10% | —- | —- | 10% |
| Co-operative Societies & Local Authority | 10% | —- | —- | 10% |
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- What are the implications of booking a fixed deposit without PAN?
- As per section 206AA of the Income Tax Act 1961, it is mandatory for every person including non-residents receiving income on which TDS is deductible, to furnish his PAN, failing which TDS would be deducted at the rate of 20% or rate applicable, whichever is higher. Declaration in Form 15G/15H for non-deduction of tax shall be treated invalid in the absence of a valid PAN.
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- Can I avail loan against my fixed deposit?
- Yes. You can avail of loan / OD against Term Deposits with a maximum drawing power of up to 80% of the value of the term Deposits. Tax saver Fixed Deposit cannot be pledged as security to avail loan.
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- Can I prematurely close my fixed deposit?
- Yes. If the deposits are prematurely withdrawn, the interest rate prevailing at the date of deposit, of the period for which deposit was with the Bank shall be payable. The Bank may on such premature withdrawal charge penal interest at such rate as may be specified by the bank from time to time. The Bank, at its sole discretion, may allow premature encashment of bulk deposits subject to penalty provisions.
- Premature closure of non-callable deposits & of tax saver fixed deposit is not allowed before the completion of the stipulated tenure.
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Last Words
- DCB Bank gives depositors to invest in various types of FD accounts. They provide a nice interest rate and some special facilities. Hence, a depositor may consider DCB Bank to open an FD account.
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I hope you have found something useful in this article. If you have any questions about this article, please let us know in the comments or mail us at [email protected]. Also, share this article with others to give them an opportunity to learn new things. In this blog, we publish various articles on finance. To get immediate notification of our articles, click on the red bell icon on the right side and turn on the notification. Thank you for spending your precious time reading this article. stay healthy, Stay safe.
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