DCB Bank Savings Account

Development Credit Bank (DCB) is one of the trusted commercial banks in the Indian banking scenario. It is known for involving contemporary advancements in its banking processes and developing a modern consumer base. Coming to its savings account, it offers a wide range of options to choose from.

In this post, we will discuss about the DCB Bank Savings Account, it’s features and benefits, how to open a DCB Bank Savings Account, DCB Bank Savings Account Interest Rate and much more to help you make a guided decision.

Let’s first take a look at the DCB Bank Savings Account Interest Rates:

DCB Bank Savings Account Interest Rate

Below given are the interest rates of DCB Bank Savings Account based on the sitting balance;

(Disclaimer: Interest Rates are subject to changes. Please check the official bank website for the most recent changes in the data)

Types of DCB Bank Savings Account

DCB Premium Savings Account

• Minimum Balance Requirement is Rs 10,000
• Debit Card Withdrawal Limit is Rs 50,000 per day
• If AMB (Average Monthly Balance) is less that Rs. 25,000 then First Five Transactions are free, if it is more than Rs 25,000, first 8 transactions are free
• Mobile Banking, Internet Banking facilities are provided
• Free 50 leaves of Cheque every month
• Free usage of Debit Card at DCB Bank ATMs

DCB Elite Savings Account

• Minimum Balance Requirement is Rs 25,000
• Debit Card Withdrawal Limit is set at Rs 50,000
• Usage of Debit card at DCB Bank ATM Free
• If AMB is less than 25,000, first five transactions free. If AMB is more than 25,000, first 8 transactions are free
• Payable at Par Cheque Book Free
• Mobile Banking and Internet Banking Facilities are provided

DCB Privilege Savings Account

• Average Quarterly Balance and Account Opening Amount is Rs 5 Lakh
• Debit Card Withdrawal Limit is Rs. 50,000 per day
• Usage of Debit Card free at DCB Bank ATM
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Internet Banking and Mobile Banking Services are provided
• Payable at Par Cheque Book Free

DCB Classic Savings Account

• Average Quarterly Balance for Tier 1 branches is Rs 5,000 and Rs 2,500 for all other branches
• Usage of Debit Card free at DCB Bank ATM
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Internet Banking and Mobile Banking Services are provided
• Payable at Par Cheque Book 25 leaves free per month

DCB Basic Savings Account

• Zero Minimum Balance Account
• ATM Card Withdrawal Limit is set at Rs 10,000 per day
• 4 free withdrawals from DCB Bank ATM with DCB ATM Card
• Free 25 leaves of chequebook per month
• 4 free fund transfer within DCB Bank

DCB Student Savings Account

• Zero Minimum Balance Account
• Debit Card Withdrawal limit is Rs 10,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free 25 cheque leaves per month

DCB Shaurya Savings Account

• Zero Minimum Balance Account
• Debit Card Withdrawal Limit is set at Rs 50,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free at par Chequebook

DCB Saahas Savings Account

• Zero Minimum Balance Account
• Debit Card Withdrawal Limit is set at Rs 50,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free at par Chequebook

DCB Kisan Mitra Savings Account

• Designed specifically for agricultural farmers
• Zero minimum balance requirement
• Debit Card Withdrawal Limit is Rs 10,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free at par Chequebook

DCB Insti Prime Savings Account

• Zero Minimum Balance Requirement
• Debit Card Withdrawal Limit is Rs 50,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free at par Chequebook

DCB Junior Saver Savings Account

• Minimum Balance Requirement is Rs 500
• Debit Card Withdrawal Limit is Rs 1000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free 25 leaves of at par Chequebook per month

DCB Golden Savings Account

• Minimum Balance Requirement is Rs 500
• Debit Card Withdrawal Limit is Rs 25,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free payable at par Chequebook

DCB Corporate Payroll Account (Plus)

• Specifically designed for salaried professionals
• Zero Minimum Balance Requirement
• Debit Card Withdrawal Limit is Rs 50,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free 25 leaves at par Chequebook per month

DCB BSBDA Small Account

• Specifically designed for salaried professionals
• Zero Minimum Balance Requirement
• Debit Card Withdrawal Limit is Rs 10,000 per day
• Usage of DCB Debit Card free at DCB Bank ATMs (maximum 10,000 in a month inclusive of all debits.)
• If AMB less than Rs 25,000, first five transactions free. If AMB is more than Rs 25,000, first eight transactions are free.
• Mobile Banking and Internet Banking Facilities are provided
• Free 25 leaves at par Chequebook per month

Features of DCB Bank Savings Account

• Zero balance account: DCB Bank caters to the needs of people from varying income classes who need not worry about meeting the minimum balance requirements
• Attractive interest rates: DCB bank offers attractive rates of interest on dormant balance in savings accounts. The higher the amount the more it grows.
• Wide range of Account types: DCB Bank acknowledges the needs of each and every customer and provides them with the type of savings account that they will benefit the most from. Family savings account, senior citizen savings account, student accounts and much more
• Free transactions: Customers can easily get tired of paying service charges and transaction fees, so DCB Bank offers them for free or on a nominal charge on many types of savings accounts which makes the whole process hassle-free
• Debit Card: DCB Bank provides its users with debit cards which can be used for a range of banking services, online purchases, cash withdrawals and much more
• SMS and email alerts: Bank also provides for SMS Banking facilities where consumers can check their DCB Bank account balance, know their transaction history and receive SMS alerts.
• 24X7 customer service: The customer care services are available 24/7 to assist the clients with any queries

How to Open a DCB Bank Account Offline?

The DCB Bank offers various kinds of savings accounts that cater to diverse individuals’ requirements. Here’s how to open a DCB Bank Savings Account

STEP 1: Visit your nearest DCB Bank branch

STEP 2: Ask for an application for opening a savings account and fill it up with all the necessary details

STEP 3: Choose the kind of savings account that fits your need

STEP 4: Carry your identity proof and address proof documents (Aadhar cards, PAN card, voter ID card, Passport size photograph, utility bills etc.)

STEP 7: Submit the application form and depending on the minimum balance requirement, an initial deposit is to be made depending on the account type.

STEP 8: After the documents are verified successfully you will receive your account information and details.

STEP 9: Once the activation of your account is complete, you can start using it for transactions, withdrawals and much more.

How to Open DCB Bank Savings Account Online?

There are certain types of DCB bank savings account which can be opened online. Understated are the steps to open such an account online:

STEP 1: Visit the DCB Bank’s official website

STEP 2: In the Menu Bar you will find the “Open an Account” option. Click on it and then click on “Savings Option”

STEP 3: Click on “Leave Your Number”

STEP 4: Fill the details asked for in the form (Name, Address, Contact Number)

STEP 5: In the meanwhile, browse the website and decide the type of savings account you want to open

STEP 6: Keep all the necessary documents ready

STEP 7: A bank representative will get in touch with you and guide you through the process of opening an account.

Documents required for opening DCB Bank Savings Account

The applicant is required to submit following documents:

1. Two latest Passport Size Coloured Photographs
2. A duly filled up Account Opening Form (AOF)
3. Copy of PAN Card/ Form 60 (with reasons of not having PAN Card)
4. KYC (Know Your Customer) Form with Documents: Proof of Identity & Proof of Address
5. Proof of Date of Birth (DOB) in case of Minor & Senior Citizen

When the customer submits all the above-mentioned documents for opening the account, the bank will verify the documents and the details mentioned in the application form in order to ascertain whether he is eligible for the savings account or not.

Eligibility for Opening DCB Bank Savings Account

1. Qualified NRIs, HUFs, and Indian residents may open savings accounts at DCB Bank.

2. The account holders must be at least 18 years old, or of legal age of majority.

3. People who are under 18 or who are considered minors have the option of creating an account with their parents or other legal guardians.

4. There is also the opportunity to create accounts with DCB Bank for companies, enterprises, partnerships, estates, sole proprietorships, and other body corporates.

5. The person who wants to open an account must meet the requirements established by the Reserve Bank of India and must present the required address evidence.

6. For several types of savings accounts, the user is required to maintain a minimum account amount, therefore, the user must be fit to maintain the same.

Benefits of Opening a DCB Bank Savings Account

The following are the advantages of opening a savings bank account with DCB Bank are explained here:

• With an inclusive range of account options, the bank confirms that they take care of specialised necessities of each and every type of customer looking to open a bank account.
• It delivers personalised savings option and benefits for women, senior citizens, children and salaried individuals with diverse assistances and interest rates depending on their requirements.
• Taking a DCB Bank savings account, makes it stress-free for the customer to seek credit and loans from the bank in form of personal loans, home loans and business loans.
• Customer support is delivered at every step and is provided 24*7 to the consumers through various mediums guaranteeing consumer satisfaction and faster query resolution.
• In specific type of savings account, various type of cashback offers, shopping discounts, healthcare discounts are provided to benefit the sonsumers.
• There are many ways to initiate fund transfer, making the process quite easy and hassle free. NEFT, RTGS and IMPS are some of them.
• Personalised services are provided to consumers to make their experience better. These include doorstep banking, customised account packages etc.
• Flexible Minimum Balance and No Minimum Balance accounts encourage underprivileged citizen and minors to open bank account and enjoy the benefits of banking, thus creating an equal society.

DCB Bank Savings Account vs. Current Account

The bank provides both savings account and current account option to its consumers based on their needs. Below are certain differences between the two to help you choose what you want:

• Primary Idea: Both savings account and current account are distinctive type of accounts that serve different purposes. Usually people who want to save money and want to grow the funds over a period time choose savings account while Current accounts on the other hand are designed for businesses and people who make a frequent transactions of higher amounts.
• Minimum Balance Requirement: While savings account usually caters to the common man and salaried individuals, they have lower minimum balance requirements as compared to Current accounts which have a higher minimum balance requirement due to its use in larger transactions.
• Interest Rates: Usually the rate of interest on savings is higher which helps the people who want to grow their savings however current accounts do not provide any interests on the funds that is held in the account
• Transaction Limit: Usually current accounts are used for more frequent transactions and therefore they do not have any set transaction limit but savings accounts have a limit on transactions as repeated withdrawals deter the savings’ growth
• Overdraft: Current accounts generally provide overdraft privileges, which let people as well as corporations withdraw more money than their available amount which is typically unavailable with savings accounts.

To conclude, it is wise to note that the reasons why savings account and current account are used are quite different from each other. Beneficiaries use the account for various purposes and for their unique features. It is advisable to customers to check which type of account fulfils their requirements and needs and select the type of account based on those parameters.

Tabular Comparison of DCB Bank Savings Account vs. Current Account

Modes of Transferring Funds from DCB Bank Savings Account

There are multiple ways provided by DCB Bank to transfer fund from savings account. Some of the most popular models are:

1. NEFT: NEFT is one of the most used electronic fund transfer methods to transfer funds provided by the banks. To facilitate a transfer one simply has to provide the beneficiary’s bank account details and the amount.

2. RTGS: Similarly, RTGS is also one the methods of online funds transfer used to transact large amount of money to other bank accounts (Min. 2 lakhs & no max limit)

3. IMPS: IMPS is used to transfer funds instantly which is available 24/7.Even of holidays one can use this method. Necessary Parameters: Beneficiary’s mobile number and MMID (Mobile Money Identifier) or Account Number and IFSC code.

4. UPI: With cashless transactions, UPI’s use has gained major popularity. It is an easy, secure and reliable medium of fund transfer using one’s UPI ID (Unified payment interface)

5. Cheque: Cheque is a written document which enables a bank to transfer a specific amount of funds from a person’s account to the person or organization whose name is addressed in the cheque

Steps to Transfer Funds from DCB Bank Savings Account

The following steps can be followed for online transactions from your DCB Bank savings account:

STEP 1: Log in to your DCB Bank net banking account by entering your registered ID and password

STEP 2: Find the option of “Fund Transfer” and click it.

STEP 3: Choose the mode such as NEFT or IMPS.

STEP 4: Enter beneficiary details.

STEP 5: Enter the amount you want to transfer.

STEP 6: Review the details and verify them.

STEP 7: Confirm the transaction by entering the transaction password and OTP.

Once the transaction is complete, you will receive an alert on your registered mobile number.

DCB Bank Customer Care

For NRIs

DCB Call: 91 22 61271000

India:

DCB Email: nri@dcbbank.comFor Resident Indians (IST 8:00am to 8:00pm) 

DCB Call: 022 6899 7777 or 040 6815 7777

DCB Email: customercare@dcbbank.com

DCB Email for Demat account queries: demat@dcbbank.com

DCB Email for Loan account queries: loans@dcbbank.com

DCB Bank Savings Account: FAQs