DCB Bank Revises Interest Rates On Savings Account: Check New Rates Here
PremiumDCB Bank has announced interest rate revision on savings bank deposits and with effect from 19th May 2022, the bank is offering a maximum rate of 6.75%.
On May 19, 2022, the private sector lender DCB Bank announced a modification in savings bank deposits. Following the change, the bank currently offers a maximum interest rate on savings accounts of 6.75 per cent. On Resident, NRE, and NRO savings bank accounts, the revised interest rates will be applicable. The bank will continue to give a 2.50 per cent interest rate on savings account balances of up to ₹1 lakh. Whereas the bank previously offered a 4.5 per cent interest rate on balances of ₹1 lakh and ₹2 lakh on the account, it has now been decreased to 4 per cent, a 50 basis point reduction.
The bank will offer a 5.00 per cent interest rate on savings bank account balances between 2 lakh and less than 5 lakh in the account, and a 6% interest rate on balances between 5 lakh and less than 10 lakh in the account. Previously, the bank offered a 5% interest rate on saving bank deposits between 2 lakh and less than 10 lakh in the account.
On balances between 10 lakh and less than 25 lakh in the account, DCB Bank has increased the interest rate by 50 basis points, from 6.25 per cent to 6.75 per cent. The interest rate for balances in the account between 25 lakh and less than 50 lakh was previously 6.50 per cent, but it has now been increased by 25 basis points to 6.75 per cent.
DCB Bank will continue to offer a 6.75 per cent interest rate on account balances between 50 lakh and 2 crores. On balances of 2 crores to less than 50 crores in the account, DCB Bank will continue to give a 5.50 per cent interest rate, while interest rates on Resident, NRE, and NRO Savings Bank Account balances of 50 crores and above would remain stable at 5%.
DCB Bank Resident, NRE & NRO Savings Bank Account Interest Rates (with effect from May 19, 2022)
On balances up to 1 lakh in the account- 2.50%
On balances above 1 lakh to less than 2 lakh in the account- 4.00%
On balances from 2 lakh to less than 5 lakh in the account- 5.00%
On balances from 5 lakh to less than 10 lakh in the account- 6.00%
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On balances from 10 lakh to less than 25 lakh in the account- 6.75%
On balances from 25 lakh to less than 50 lakh in the account- 6.75%
On balances from 50 lakh to less than 2 crore in the account- 6.75%
On balances from 2 Cr to less than 50 crore in the account- 5.50%
On balances from 50 crore and above- 5.00%