This big bank now offers interest rate up to 8% on savings account, 8.55% on fixed deposits

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Sneha Kulkarni

, ET OnlineLast Updated: May 23, 2024, 11:16:00 AM IST

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DCB Bank has revised its savings account and fixed deposit (for amount below Rs 2 crore) interest rates. The new rates are effective from May 22, 2024, according to the DCB Bank website.

piggy bank pastel — Latest DCB Bank FD interest rates May 2024.

DCB Bank has revised its savings account and fixed deposit interest rates (for amounts below Rs 2 crore). According to the DCB Bank website, the new rates are effective May 22, 2024.

The bank is offering the highest FD interest rate of 8% to general customers and 8.55% for senior citizens after the revision in tenure from 19 months to 20 months. The highest savings account interest rate offered is up to 8%.

Also read: Up to 7.25% FD rate: Which bank is offering highest fixed deposit rate; SBI HDFC Bank, ICICI Bank, PNB, Canara Bank, Axis Bank

Latest DCB Bank FD interest rates May 2024

Tenure	Deposit Interest Rate	Rate for Senior Citizens (% per annum)
	(percent per annum)
	Single Deposit of less than INR 2 Cr.
7 days to 45 days	3.75%	4.25%
46 days to 90 days	4.00%	4.50%
91 days to less than 6 months	4.75%	5.25%
6 months to less than 10 months	6.20%	6.70%
10 months to less than 12 months	7.25%	7.75%
12 months	7.10%	7.60%
More than 12 months to 12 month 10 days	7.75%	8.25%
12 months 11 days to 17 months	7.15%	7.65%
17 months 1 day to 18 months 5 days	7.10%	7.60%
18 months 6 days to less than 19 months	7.40%	7.90%
19 months to 20 months	8.05%	8.55%
20 months 1 day to less than 700 days	7.40%	7.90%
700 days to 26 months	7.50%	8.00%
More than 26 months to less than 37 months	7.55%	8.05%
37 months to 38 months	7.75%	8.25%
More than 38 months to less than 61 months	7.40%	7.90%
61 months	7.65%	8.15%
More than 61 months to 120 months	7.25%	7.75%

DCB Bank savings account interest rates

Resident, NRE and NRO Savings Bank Account Interest rates (with effect from May 22nd, 2024)
Balance Range (INR)	Rate of Interest p.a. W.E.F May 22nd, 2024
On balances up to 1 lakh in the account	1.75%
On balances above 1 lakh to less than 5 lakh in the account	3.00%
On balances from 5 lakh to less than 10 lakh in the account	5.25%
On balances from 10 lakh to less than 1 Crore in the account	7.75%
On balances from 1 Crore to less than 2 Crore in the account	8.00%
On balances from 2 cr to less than 5 crore in the account	5.50%
On balances from 5 crore to less than 10 Crore in the account	7.00%
On balances from 10 crore to less than 50 Crore in the account	7.75%
On balances from 50 crore to less than 200 Crore in the account	7.75%
On balances from 200 crore and above	5.50%

Source: DCB Bank website

According to the DCB Bank website, “Interest will be calculated daily based on end of day clear balance in the account and will be paid quarterly.

Rates mentioned are applicable for the incremental balances that are present corresponding to the amount slabs mentioned.
These interest rates are applicable to resident, NRE and NRO savings accounts, and subject to change without prior notice.
Additional interest to be charged on overdrawn amounts for Savings Bank Account and Current Accounts. The Bank will levy interest @ 2% per month (monthly basis) on overdrawn balances for the period any Savings or Current account remains overdrawn.”

Also read: FD interest rate up to 8.6%: 10 corporate fixed deposits with the highest interest rates