Fixed deposits (FD) remain one of the most popular financial instruments among age groups that offer guaranteed returns. Existing and potential clients can invest money in DF for a specific period, ranging from seven days to 10 years. Above all, seniors have always preferred to take the FD route because it offers them a safe option to park their investment after retirement to obtain good returns in terms of stable income. Banks generally pay a higher interest rate to seniors compared to the general public on FD accounts.
DCB Bank revised interest rates from May 15, 2021 on term deposits (FD). Ranging from 7 days to 10 years, DCB Bank offers FD on various mandates. The private lender offers an interest rate of 4.55% of the FD with a maturity of between 7 days and 14 days, 5.25% for those between 91 days and less than 6 months, while the bank distributes 5.70 % for 6 months to less than 12 months. Also, for FDs maturing in 12 months to less than 15 months, the bank gives an interest rate of 5.80%, while the FD interest rate for 15 months to less than 18 months is 6.00%.
Consult the revised prices as of May 15, 2021:
From 7 days to 14 days: 4.55%
15 days to 45 days: 4.55%
46 days to 90 days: 4.50%
91 days to less than 6 months: 5.25%
6 months to less than 12 months: 5.70%
12 months to less than 15 months: 5.80%
15 months to less than 18 months: 6.00%
18 months to less than 700 days: 6.00%
700 days: 6.40%
More than 700 days to less than 36 months: 6.00%
36 months: 6.50%
Over 36 months to 60 months 6.50%
The bank offers a slightly higher rate to seniors on all maturities. After the recent adjustment, seniors will continue to benefit from an interest rate FD 0.50% higher than that of the general public.
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