DCB Bank: Earn up to 8% interest rates on savings accounts, FDs

DCB Bank has revised savings accounts and fixed deposit interest rates for deposits below Rs 2 crore. The new rates are effective from May 8, 2023, according to the DCB Bank website.

Following the modification, the bank is now providing savings accounts with the highest interest rate of 8%, and FDs with the highest interest rate, 8%, for regular customers and 8.50% for senior citizens.

DCB Bank savings account rates

The bank pays an interest rate of 2.00% on savings accounts with balances up to 1 lakh, and an interest rate of 3.75% on accounts with balances between 1 lakh and 2 lakh. On savings accounts with balances between 2 lakh and less than 5 lakh and between 5 lakh and less than 10 lakh, DCB Bank will give interest rates of 5.25% and 6.25%, respectively.

The interest rate on savings accounts with balances between 10 lakh and less than 50 lakh will earn 7.00%, while the interest rate on accounts with balances between 50 lakh and less than 2 crore offered at 7.25%. On balances in the account between 2 crore and less than 5 crore, the bank would offer an interest rate of 5.50%.

According to DCB Bank, the interest rates offered is 7% for accounts with balances between Rs. 5 crore and Rs. 10 crore or less. DCB Bank offers an interest rate to 8% for account balances between Rs. 10 crore and Rs. 200 crore. Savings accounts that have balances of 200 crore or more will continue to earn interest at a rate of 5.00%.

Resident, NRE and NRO Savings Bank Account Interest rates (with effect from May 08, 2023)
Balance Range (INR)	Rate of Interest p.a. W.E.F May 08, 2023
On balances up to 1 lakh in the account	2.00%
On balances above 1 lakh to less than 2 lakh in the account	3.75%
On balances from 2 lakh to less than 5 lakh in the account	5.25%
On balances from 5 lakh to less than 10 lakh in the account	6.25%
On balances from 10 lakh to less than 50 lakh in the account	7.00%
On balances from 50 lakh to less than 2 Crore in the account	7.25%
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	8.00%
On balances from 50 crore to less than 200 Crore in the account	8.00%
On balances from 200 crore and above	5.00%

Source: Bank website

DCB FD interest rates
The bank is offering an interest rate of 3.75% on resident term deposits maturing in 7 days to 45 days, and an interest rate of 4.00% on tenures between 46 days to 90 days. Interest rates offered by DCB Bank on deposits maturing in 91 days to less than 6 months is 4.75%, and 6.25% for deposits maturing in 6 months to less than 12 months.

Deposits with maturities between 12 and 15 months will earn interest at a rate of 7.25%, while bank offers 7.75% interest on deposits of 18 months to less than 700 days. Whereas deposits with maturities between 700 and 36 months will now earn interest at a rate of 8%. The interest rate offered by DCB Bank for deposits with maturities more than 36 months to less than 120 months is 7.75%.

Tenure	Deposit Interest Rate	Rate for Senior Citizens (% per annum)
7 days to 14 days	3.75%	4.25%
15 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 12 months	6.25%	6.75%
12 months	7.25%	7.75%
More than 12 months to less than 15 months	7.25%	7.75%
15 months to less than 18 months	7.50%	8.00%
18 months to less than 700 days	7.75%	8.25%
700 days to 24 months	8.00%	8.50%
More than 24 months to less than 36 months	8.00%	8.50%
36 months	8.00%	8.50%
More than 36 months to 60 months	7.75%	8.25%
More than 60 months to 120 months	7.75%	8.25%

Senior Citizens FD rates
For DCB Bank senior citizen customers, interest rates vary between 4.25% to 8.50% for tenures ranging from 7 days to 120 months.