DCB Bank savings account interest rates
According to the bank’s official website, the new DCB Bank savings account interest rates go into effect on February 14, 2023.
The bank is now offering an interest rate of 2.25% on balances up to Rs 1 lakh in the account, and an interest rate of 4.00% on balances exceeding Rs1 lakh to less than Rs 2 lakh in the account. Savings account customers would receive an interest rate of 5.00% on balances of Rs 2 lakh to less than Rs 5 lakh in the account, and an interest rate of 6.00% on balances of Rs 5 lakh to less than Rs 10 lakh in the account.
DCB Bank is currently offering an interest rate of 7.00% on balances ranging from Rs 10 lakh to less than Rs 50 lakh in the account, and a maximum interest rate of 7.25% on balances ranging from Rs 50 lakh to less than Rs 2 Crore in the account. The bank would give an interest rate of 5.50% on balances from Rs 2 crore to less than Rs 50 crore in the account, and an interest rate of 5.00% on balances of Rs 50 crore and beyond.
| Balance Range (INR) | Rate of Interest p.a. |
| On balances up to 1 lakh in the account | 2.25% |
| 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% |
| On balances from 10 lakh to less than 50 lakh in the account | 7.00% |
| On balances from 50 lakh to less than 2 Crore in the account | 7.25% |
| On balances from 2 cr to less than 50 crore in the account | 5.50% |
| On balances from 50 crore and above | 5.00% |
How is interest rate calculated on savings account?
Interest will be calculated daily based on end of day clear balance in the account and will be paid quarterly. Note that rates mentioned are applicable for the incremental balances that are present corresponding to the amount slabs mentioned.
The new interest rates are applicable on Resident, NRE, and NRO savings bank accounts.