Development Credit Bank Term Deposit Interest Rate

Development Credit Bank Term Deposit Interest Rate

DCB Bank is a modern emerging new generation private sector bank with 100 branches across 15 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers.

DCB Bank’s business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC). DCB Bank has approximately 450,000 customers.

DCB Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd. holds over 19% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies.

Resident Indians & NRO Term Deposits Interest Rates* p.a. with effect from 30th August, 2013
Maturity Period

Deposit Interest Rate * 
(percent per annum)

Effective annualised yield p.a.

Deposit Interest Rate for Senior Citizens* (percent per annum)

Effective annualised yield p.a.

Single Deposit of less than Rs 100 lacs:

Single Deposit of less than Rs 100 lacs:

14 days

3.00%

3.00%

3.50%

3.50%

15 days to 45 days

4.00%

4.00%

4.50%

4.50%

46 days to 90 days

5.00%

5.00%

5.50%

5.50%

91 days to <6 months

6.25%

6.25%

6.75%

6.75%

6 Months to < 12 months

8.75%

9.01%

9.25%

9.54%

12 months to less than 24 months

9.00%

9.63%

9.50%

10.20%

24 months to 36 months

9.75%

11.17%

10.25%

11.83%

More than 36 months to 60 months

8.75%

10.83%

9.25%

11.59%

More than 60 months to 84 months

8.75%

11.90%

9.25%

12.81%

More than 84 months to 120 months

8.75%

13.76%

9.25%

14.95%

A person who has completed the age of 60 years at the time of booking term deposit will be treated as a senior citizen and would be eligible for additional interest of 0.50% above the existing rates (Not Applicable for NRO and NRE Deposits).

Non Residential (External) Term Deposit (with effect from 30th August, 2013 )
Term

Deposit Interest Rate (percent per annum) – NRE Rupee Term deposits

Effective annualised yield 
Per Annum

Single Deposit of less than Rs 100 lacs:

12 months to less than 24 months

9.00%

9.63%

24 months to less than 36 months

9.75%

11.03%

36 months

10.25%

11.83%

More than 36 months to 60 months

10.00%

12.77%

More than 60 months to 120 months

9.50%

15.57%

Important Terms and Conditions
1. Rates of Interest are subject to revision without notice
2. Bank Treasury approval is required for “interest rate quotes and booking” for single deposit of Rs 1 crore and above
3. There is no additional benefit to NR Senior Citizen
4. If a deposit is withdrawn before 1 year term, no interest will be payable
5. For premature withdrawals of deposits (for single deposit of less than Rs100 Lacs), Bank will pay 0.5% lower from the rate as applicable for the tenure     deposit was held with the Bank
6. For premature withdrawals of deposits (for single deposit of Rs100 Lacs and above), Bank will pay 2% lower from the rate as applicable for the tenure     deposit was held with the Bank

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