DCB Bank has reduced its fixed deposit (FD) interest rates for deposits less than Rs 3 crore for the second time this month. The bank has reduced interest rates by up to 25 basis points (bps) for select tenures, effective March 5, 2025. The highest FD interest rate has been cut from 8.05% to 8%. The revised rates apply to FDs with tenures ranging from 7 days to 10 years.
For general citizens, DCB Bank now offers interest rates between 3.75% and 8% on FDs with tenures ranging from 7 days to 10 years. The bank has reduced the interest rate on FDs with a tenure of 10 months to less than 12 months by 20 bps from 7.25% to 7.05%. It has also reduced the interest rate on FDs with a tenure of above 12 months to 12 months 10 days by 25 bps, bringing the rate down to 7.50%.
For senior citizens, the bank offers interest rates between 4.25% and 8.50% on FDs with tenures ranging from 7 days to 10 years. The bank has reduced the interest rate on FDs with a tenure of 10 months to less than 12 months by 20 bps from 7.75% to 7.55%. It has also reduced the interest rate on FDs with a tenure of above 12 months to 12 months 10 days by 25 bps, bringing the rate down to 8%.
Key changes include:
* Reduction of 20 bps on FDs with a tenure of 10 months to less than 12 months from 7.25% to 7.05%
* Reduction of 25 bps on FDs with a tenure of above 12 months to 12 months 10 days from 7.75% to 7.50%
* The highest FD interest rate for general citizens is now 8% on a tenure of 15 months to less than 16 months
* The highest FD interest rate for senior citizens is now 8.50% on a tenure of 15 months to less than 16 months