Many big banks of the country have increased the interest rate on their fixed deposits (FD) since the Reserve Bank of India (RBI) increased the repo rate by 50 basis points.
Many big banks of the country have increased the interest rate on their fixed deposits (FD) since the Reserve Bank of India (RBI) increased the repo rate by 50 basis points. After increasing the interest rate, the bank is now giving more returns to the customers than before. If you also want to get more returns by doing FD, then this news can be of use to you. The country’s private sector lender DCB Bank has increased interest rates by up to 50 basis points on FDs of less than Rs 2 crore. The interest rates have been increased for FDs with tenures ranging from 18 months to 10 years. DCB Bank (DCB) has said that the increased interest rates will be effective from October 1. DCB Bank is offering the highest interest of 7.10 percent on FDs of 700 days to 3 years.
New FD Rates of DCB Bank
DCB Bank will continue to offer interest of 4.80% on FDs of 7 days to 90 days and 5.50% on tenures of 91 days to 6 months. Whereas DCB Bank will pay 5.70% interest on FDs of 6 months to 12 months, 6.10 percent on FDs of 12 months, 5.75 percent on FDs of 12 months to 15 months and 6.75 percent on FDs of 15 months to less than 18 months. Will continue On the other hand, DCB will increase the interest rate by 15 basis points to 6.75% on FDs of 18 months to less than 700 days in the bank. The same DCB Bank will give an interest of 7.10% on FDs of 700 days to 36 months after the highest 50 basis point increase in interest rates and 7% interest after 40 basis points increase on FDs of 36 months to 10 years.
You can start FD with 10 thousand rupees
If you want to do FD in DCB Bank, then you have to start with a minimum capital of 10 thousand rupees. Whereas for old customers, the bank will pay an additional interest of 0.5 percent per annum. Any customer can get interest rate on monthly, quarterly, half yearly and annual basis. Apart from this, the customer having FD can also apply for loan and Audi (OD). For this, the maximum limit of the customers is 80 percent of the FD amount.
