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DCB Bank hikes interest rates on fixed deposits of above 18 months

The bank was previously giving an interest rate of 6.50 per cent on deposits maturing in 18 months to less than 36 months, but has now been increased by 10 basis points to 6.60 per cent.Premium
The bank was previously giving an interest rate of 6.50 per cent on deposits maturing in 18 months to less than 36 months, but has now been increased by 10 basis points to 6.60 per cent.

  • Interest rates on resident Indian fixed deposits below 2 Cr have been revised by private sector lender DCB Bank. The bank has increased interest rates on deposits with a maturity period of more than 18 months as a result of the adjustment, which has been announced by the bank today, June 22, 2022.

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Interest rates on resident Indian fixed deposits below 2 Cr have been revised by private sector lender DCB Bank. The bank has increased interest rates on deposits with a maturity period of more than 18 months as a result of the adjustment, which has been announced by the bank today, June 22, 2022.

DCB Bank FD Rates

The bank will continue to give a 4.80% interest rate on term deposits due in 7 days to 90 days, and it has maintained its 5.50% interest rate on fixed deposits maturing in 91 days to less than 6 months. On deposits of six months or less to twelve months, DCB Bank will continue to give an interest rate of 5.70 per cent, and on deposits of twelve months, an interest rate of 6.10 per cent. Fixed deposits with maturities between more than 12 months and less than 15 months will continue to earn 5.75 per cent interest, while those with maturities between 15 months and less than 18 months will continue to generate 6.55 per cent interest. 

The bank was previously giving an interest rate of 6.50 per cent on deposits maturing in 18 months to less than 36 months but has now been increased by 10 basis points to 6.60 per cent. On the other hand, the bank has maintained its 6.60 per cent interest rate on deposits that mature in 36 to 120 months. Senior citizens will continue to get a 0.50 per cent rate premium on deposits of all maturities, in addition to the standard rate. Elderly residents will get interest rates ranging from 5.30 per cent to 7.10 per cent on fixed deposits maturing in 7 days to 120 months, whereas DCB Bank now offers a maximum interest rate of 7.10 per cent to elderly folks on deposits maturing in 18 months to 120 months.

DCB Bank FD Rates 2022
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DCB Bank FD Rates 2022 (dcbbank.com)

And meanwhile, ICICI Bank today, June 22, 2022, increased the FD interest rates on amounts under 2 crore once again. On some tenors, the private bank increased FD rates by 5 basis points. According to the ICICI Bank's official website, the bank currently offers FD rates on deposits made for one week to ten years that range from 2.75 per cent to 5.75 per cent for the general public and 3.25 per cent to 6.50 per cent for senior citizens.

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