DCB or Development Credit Bank is registered as a private sector scheduled commercial bank. It has over 150 branches and more than 400 ATM’s across India. It focuses on small and medium businesses, individuals, and rural banking. It also services the corporate world across various branches.
DCB is spread across 17 states with the Aga Khan Fund for Economic Development beings its main promoter. The merger of the Masalawala Co-Operative Bank and Ismailia Co-Operative Bank Limited formed the Development Credit Bank. DCB procured its license from the Reserve Bank of India in 1995.
DCB offers various fixed deposit schemes to various customer segments. The Resident Indian FD tenor ranges from 7 days to 120 months.
Fixed deposit Interest rate for Indian Citizens:
|Maturity||Amount below 1 crore|
(Domestic deposit only)
|Amount 1-5 crores|
(Domestic, NRO & NRE deposits)
|90 days – 6 months||6.25%||7.40%|
The Non Resident External FD tenor ranges from 12 months to 120 months and the Non Resident Ordinary FD tenor ranges from 7 days to 120 months. The DCB offers highly competitive rates with additional benefits provided to senior citizens.
NRE fixed deposit rates below 1 crore:
|Maturity Period||Interest rate for amount below 1 crore|
NRO fixed deposit Interest rate:
|Maturity||Interest rate for amount below 1 crore|
|91 days – 6 months||6.25%|
- .50% additional interest is applicable for senior citizens.
- Treasury approval is necessary for deposits above 1 crore.
- Minimum tenor for NRE fixed deposit is 1 year.
- No additional interest will be provided to senior citizens in case of NRE and NRO deposits.