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8.55% FD Returns For Senior Citizens: 95 Years Old Private Bank Updates Fixed Deposit Interest – What’s New?
The interest rates on fixed deposits (FDs) of less than Rs 3 Cr have been updated by DCB Bank, a private sector lender that was established in the 1930s. With tenures ranging from seven days to 120 months, the 95-year-old bank currently offers interest rates of 3.75% to 7.25% to the general public and 4.25% to 7.75% to senior citizens. DCB Bank will now provide a maximum interest rate of 8.05% on fixed deposit tenures of 19 to 20 months. The updated fixed deposit interest rates go into effect on February 14, 2025, according to the bank's official website.
DCB Bank FD Rates
The bank will give an interest rate of 3.75% on fixed deposits that mature in 7-45 days, while DCB Bank will offer an interest rate of 4.00% on those that mature in 46-90 days. For deposits with a duration of 91 days to less than six months, DCB Bank will give an interest rate of 4.75%; for FDs with a duration of six months to less than ten months, the interest rate will be 6.20%. Interest rates on DCB Bank FDs maturing in 10 to less than 12 months will now be 7.25%, while those remaining over 12 months will now be 7.10%.
The bank will pay an interest rate of 7.75% on fixed deposits that mature in more than 12 months to 12 months and 10 days, while DCB Bank will give an interest rate of 7.15% on those that mature in 12 months 11 days to 17 months. For deposits due in 18 months 6 days to less than 19 months, DCB Bank will pay 7.40% interest, while offering an interest rate of 7.10% for deposits with a duration of 17 months 1 day to 18 months 5 days. Interest rates on DCB Bank FDs that mature in 19 to 20 months will be 8.05%, while those that mature in 20 months 1 day to less than 700 days will be 7.40%.
A 7.50% interest rate will be paid by the bank on fixed deposits that mature between 700 days and 26 months, and by DCB Bank on deposits that mature between more than 26 months and less than 37 months. DCB Bank will pay 7.85% interest on deposits that are between 37 and 38 months old, and 7.40% interest on deposits that are between 38 and less than 61 months old. DCB Bank FDs that mature in 61 months will pay 7.65% interest, while those that mature between 61 and 120 months will earn 7.25% interest.
| Tenure | Single Deposit of less than Rs 3 Crore | Effective Annualised Yield (% p.a.) | Rate for Senior Citizens (% p.a.) | Effective Annualised Yield (% p.a.) |
|---|---|---|---|---|
| 7 days to 45 days | 3.75% | 3.75% | 4.25% | 4.25% |
| 46 days to 90 days | 4.00% | 4.00% | 4.50% | 4.50% |
| 91 days to less than 6 months | 4.75% | 4.75% | 5.25% | 5.25% |
| 6 months to less than 10 months | 6.20% | 6.30% | 6.70% | 6.81% |
| 10 months to less than 12 months | 7.25% | 7.38% | 7.75% | 7.90% |
| 12 months | 7.10% | 7.29% | 7.60% | 7.82% |
| More than 12 months to 12 month 10 days | 7.75% | 7.98% | 8.25% | 8.51% |
| 12 months 11 days to 17 months | 7.15% | 7.41% | 7.65% | 7.95% |
| 17 months 1 day to 18 months 5 days | 7.10% | 7.42% | 7.60% | 7.97% |
| 18 months 6 days to less than 19 months | 7.40% | 7.75% | 7.90% | 8.30% |
| 19 months to 20 months | 8.05% | 8.47% | 8.55% | 9.02% |
| 20 months 1 day to less than 700 days | 7.40% | 7.82% | 7.90% | 8.38% |
| 700 days to 26 months | 7.50% | 8.01% | 8.00% | 8.58% |
| More than 26 months to less than 37 months | 7.50% | 8.32% | 8.00% | 8.94% |
| 37 months to 38 months | 7.85% | 8.76% | 8.35% | 9.38% |
| More than 38 months to less than 61 months | 7.40% | 8.86% | 7.90% | 9.57% |
| 61 months | 7.65% | 9.21% | 8.15% | 9.94% |
| More than 61 months to 120 months | 7.25% | 10.51% | 7.75% | 11.55% |
| Source: Bank Website (with effect from 14th Feb, 2025) |
With 457 branches in 20 states and two union territories, DCB Bank Limited is a leading private-sector bank. As of December 31, 2024, DCB Bank, had 457 branches throughout India.
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