Fixed Deposit Details
Bank Name
DCB Bank
Eligibility
Nationality: Indian residents and Non-Resident Indians (NRIs) can open FD accounts. Age: Minimum age is 18 years for all applicants. Some schemes may have a maximum age limit. For example, the DCB Suraksha Fixed Deposit scheme is only for individuals between 18 and 54 years old. Applicant Type: Individual, Hindu Undivided Family (HUF), partnership firm, and sole proprietorship are all eligible.
Interest Rate
3.75 - 7.60
Tenure
Tenure ranging from 7 days to 10 years
Fixed Deposit Type
Regular
DCB FIXED DEPOSITS
Tax Benefits
Credit Ratings
CRlSIL A1+
Interest Payment Frequency
Choose to take interest payout on monthly/Quarterly/Half yearly/Yearly basis. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
No information provided
Features
Avail of loan/OD against fixed deposits with a maximum drawing power of up to 80% of the value of the fixed depositsAutomatic 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.
Minimum Investment Amount
Minimum deposit amount as low as Rs 10,000
Features & Benefits
Pros
- Competitive Interest Rates
- Flexible Tenure
- DCB allows you to choose how you receive your interest - monthly, quarterly, half-yearly, or annually. You can also opt to reinvest the interest for compounding benefits.
- Senior Citizen Benefits
- Convenient Online Booking
Cons
- Fixed Interest Rate
- Early Withdrawal Penalty
- Tax on Interest
Pros & Cons
How to Open?
- Visit a DCB Bank Branch: This is the traditional method. Here's what you need to do:Visit your nearest DCB bank branch. Fill out the FD account opening form. Provide the required documents (listed below). These typically include identity proof (Aadhaar card, PAN card, etc.), address proof (electricity bill, bank statement, etc.), and a recent passport-sized photograph. Choose your FD tenure (ranging from 7 days to 10 years) and deposit amount (minimum Rs. 10,000). Fund your deposit using a cheque or other acceptable methods. You will receive a Fixed Deposit Receipt (FDR) as confirmation.
- Open an Online Fixed Deposit (FD) through DCB Zippi: This is a faster and more convenient option if you're already a DCB customer. Here's how:Visit the DCB Zippi website ( https://www.dcbbank.com/dcb-fixed-deposits ). You'll need your Aadhaar card and PAN card for verification. Choose your FD tenure and deposit amount. Complete the online application and fund your deposit.
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About this content
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