Result
Features of DCB Bank Fixed Deposit
- Flexible FD tenures are given with competitive interest rates to match your investment strategy.
- You can open an FD account online or by going to the DCB bank branch that is closest to you.
- There is no maximum FD amount limit.
- FD Tenures: seven to ten days
- Several alternatives for interest payment, including monthly, quarterly, etc.
- Up to 85% of the FD amount may be borrowed against the loan/overdraft facility.
- Options for quick and simple liquidity are accessible.
- There is a nomination facility.
- Through a tax-saving term deposit arrangement, you can receive a tax benefit of up to Rs. 1,50,000.
- There are also part withdrawal and auto-renewal options available.
- Senior citizens have access to greater interest rates than other people.
- The bank provides NRE, NRO, and FCNR deposit facilities.
Benefits of DCB Bank Fixed Deposit Interest Calculator
- Easy to use
- Know the maturity amount
- Accurate calculation
- Make comparisons for FD selection
How is DCB Bank FD Interest Rate Calculated?
- When a fixed deposit matures with a term of less than six months, simple interest is paid.
- In the case of fixed deposits with terms of six months or longer, interest is computed on a quarterly basis.
- Every quarter, cumulative interest or reinvestment interest is computed and applied to the principal, ensuring that interest is paid on interest earned as well as that from the previous quarter.
- When a monthly deposit plan is used, the interest is computed for the quarter and paid on a monthly basis at a reduced rate compared to the standard FD rate.
- A represents the FD maturity amount
- P denotes your fixed deposit investment amount
- r implies the annual interest rate
- n stands for the frequency of compounding interest
- t represents the investment term
What are DCB Bank FD Interest Rates?
Tenure | Interest Rates (% p.a.) for Regular Citizens | Interest Rates (% p.a.) for Senior Citizens |
7 – 45 days | 3.75 | 4.25 |
46 – 90 days | 4.00 | 4.50 |
91 days – < 6 months | 4.75 | 5.25 |
6 months – < 10 months | 6.25 | 6.75 |
10 months – <15 months | 7.25 | 7.75 |
15 months to less than 18 months | 7.50 | 8.00 |
18 months – < 700 days | 7.75 | 8.25 |
700 days – 36 months | 8.00 | 8.50 |
> 36 months – 120 months | 7.75 | 8.25 |
Summing Up
DCB Bank FD Calculator : FAQs
On the DCB bank website, you can find a link to the FD calculator. To utilise the tool, look for "DCB bank FD calculator" or "Fixed Deposit Calculator" under Banking or Investment.
Yes, the DCB bank FD calculator generates precise estimations. Please be aware, though, that because interest rates and the frequency of compounding change, the estimated results are merely suggestive and may differ significantly from the real returns.
You must enter the principal amount (deposit amount), the FD's term (in months or years), and the corresponding interest rate for the chosen tenure in order to utilise the DCB bank FD calculator.
The DCB bank FD calculator does take into account compounding to give a more precise estimate of returns. To determine the final maturity amount, the frequency of compounding (quarterly, half-yearly, etc.) is taken into consideration.
According to the Income Tax Act of 1961, tax is withheld at source from the interest on Tax-Saver Fixed Deposits as necessary.
Yes, a fixed deposit account holder can end their account early and would be penalised with interest.
For a duration of 700 days to three years, the highest fixed deposit rate offered by DCB bank is 8.00% for regular people and 8.50% per annum for senior citizens.