Bank FD: Fixed deposit is considered an easy and safe option for investment. In FD, investors’ money is fixed for a fixed period of time. Interest continues to be received till maturity.
Higher the interest rates, higher are the returns. At present, there are many banks in the country which have excellent interest offers on FD. Some private sector banks are offering much higher interest than government banks. DCB Bank is also included in this list .
These banks changed the interest on FD
DCB Bank has recently revised the interest rates on FD. The bank is giving interest ranging from 3.75% to 7.75% to the common citizens. Senior citizens are getting higher interest, rates range from 4.25 percent to 8.5 percent.
The highest interest is available on FD of 25 months. On this tenure, the interest rate for general citizens is 7.75 percent and senior citizens are getting 8.5% interest. Same interest is also available on FD of 37 months.
Interest rates for long term deposits
FD of 61 months 7.65 percent, FD of 37 months to 61 months 7.40 percent, FD of 61 months 7.65 percent, FD of 700 days to 25 months 7.55 percent. 7.50 percent interest is available on FD of 18 months, 6 days to 700 days, 7.15 percent interest is available on FD of 12 months, 11 days to 18 months, 5 days and 7.25 percent interest is available on FD of 12 months, 10 days.
Interest rates for short term deposits
3.75% interest is available on FD of 7 to 45 days, 4% on FD of 46 days to 90 days, 6.25% on FD of 91 days to 6 months to 10 months and 6.90% interest is available on FD of 10 months to 12 months. Let us tell you that senior citizens are getting 0.50% more interest than ordinary citizens.