After the decision of the Reserve Bank of India to increase the repo rate, the process of increasing the interest rates on fixed deposits by banks continues. In this episode, the private sector bank DCB has decided to change the interest rates on fixed deposits.
New Delhi. Bank of India (BOI) has recently changed the interest rates on fixed deposits after the Reserve Bank of India (RBI) suddenly increased the repo rate by 40 basis points i.e. 0.40 percent. With this move of the central bank, the interest rates of term loans are also certain to increase. In this episode, the private sector bank DCB has decided to revise and increase its interest rates on fixed deposits (FDs) of various tenors. The new rates of the bank have come into effect from May 10.
Investing in fixed deposits is considered very safe and very low risk. DCB Bank has decided to offer an interest rate of up to 6.75 per cent per annum to its customers on fixed deposits. Apart from offering traditional FDs, the bank is also offering other products like Health Plus FD, which can provide free medical benefits and emergency assistance to people. Not only this, DCB Bank has introduced another product named Suraksha FD, which offers free life insurance coverage up to Rs 50 lakh with high interest rates.
DCB Bank is giving additional benefits to senior citizens. They can get an interest rate of up to 6.75 per cent on their investments. Not only this, you can also take a gold loan from DCB Bank. A special advantage of such a loan is that when the price of gold is higher, then the higher the loan will be available. Let us tell you here that DCB Bank got the license on May 31, 1995.
DCB Bank is paying 4.35 percent interest on fixed deposits of less than Rs 2 crore for 7 to 14 days, while 4.85 percent to senior citizens. Similarly, the interest rate for the tenors of 15 to 45 days and 45 to 90 days is 4.35 per cent. At the same time, senior citizens are getting 4.85 percent interest rate. Fixed deposits of 91 days to 6 months will get 5.05 percent, while senior citizens will get interest at the rate of 5.55 percent.
These rates from 6 months to 36 months
DCB Bank will get 5.25 percent interest in the period from 6 months to less than 12 months, senior citizens will get interest at the rate of 5.75 percent. For a period ranging from 1 year 1 day to less than 15 months, 5.3 percent will be available, while for senior citizens this rate will get 5.8 percent interest rate. The interest rate for a period ranging from 18 months to less than 700 days is 6.25 percent, while it is 6.75 percent for senior citizens. For tenures ranging from 700 days to less than 3 years, the interest rate is 6.25 percent, while for senior citizens, 6.75 percent.
6.25 percent interest on 3-year deposit
DCB Bank is paying 6.25 percent interest on 3-year fixed deposits, while only 6.75 percent interest is being given to senior citizens during this period. On fixed deposits of more than 36 months to 60 months, 6.25 percent, while senior citizens are getting 6.75 percent interest. At the same time, on deposits of more than 60 months to 10 years, interest will be paid at the rate of 6.25 per cent for general customers, while 6.75 per cent for senior citizens.
