DCB Bank FD Calculator
Fixed Deposit Interest Rates on Domestic deposits of less than Rs 2 crore - General Public
| Tenure | Regular Citizens |
| 7 days to 14 days | 4.8 |
| 15 days to 45 days | 4.8 |
| 46 days to 90 days | 4.8 |
| 91 days to less than 6 months | 5.5 |
| 6 months to less than 12 months | 5.7 |
| 12 months | 6.1 |
| More than 12 months to less than 15 months | 5.75 |
| 15 months to less than 18 months | 6.55 |
| 18 months to less than 700 days | 6.6 |
| 700 days | 6.6 |
| More than 700 days to less than 36 months | 6.6 |
| 36 months | 6.6 |
| More than 36 months to 60 months | 6.6 |
| More than 60 months to 120 months | 6.6 |
Note: The FD interest rates are effective as of 22 June 2022
Fixed Deposit Interest Rates on Domestic deposits of less than Rs 2 crore - Senior Citizens
| Tenure | Senior Citizens |
| 7 days to 14 days | 5.3 |
| 15 days to 45 days | 5.3 |
| 46 days to 90 days | 5.3 |
| 91 days to less than 6 months | 6 |
| 6 months to less than 12 months | 6.2 |
| 12 months | 6.6 |
| More than 12 months to less than 15 months | 6.25 |
| 15 months to less than 18 months | 7.05 |
| 18 months to less than 700 days | 7.1 |
| 700 days | 7.1 |
| More than 700 days to less than 36 months | 7.1 |
| 36 months | 7.1 |
| More than 36 months to 60 months | 7.1 |
| More than 60 months to 120 months | 7.1 |
Note: The FD interest rates are effective as of 22 June 2022
DCB Bank Tax Saver Deposit - General Public
| Tenure | Regular Citizens |
| 5 years | 6.6 |
DCB Bank Tax Saver Deposit - Senior Citizens
| Tenure | Regular Citizens |
| 5 years | 7.1 |
NRE Fixed Deposit Interest Rates of deposits less than Rs 2 crores
| Tenure | Interest Rates (% p.a.) |
| 12 months | 6.1 |
| More than 12 months to less than 15 months | 5.75 |
| 15 months to less than 18 months | 6.55 |
| 18 months to less than 700 days | 6.6 |
| 700 days | 6.6 |
| More than 700 days to less than 36 months | 6.6 |
| 36 months to 120 months | 6.6 |
Note: The FD interest rates are effective as of 22 June 2022
NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores
| Tenure | Interest Rates (% p.a.) |
| 7 days to 14 days | 4.8 |
| 15 days to 45 days | 4.8 |
| 46 days to 90 days | 4.8 |
| 91 days to less than 6 months | 5.5 |
| 6 months to less than 12 months | 5.7 |
| 12 months | 6.1 |
| More than 12 months to less than 15 months | 5.75 |
| 15 months to less than 18 months | 6.55 |
| 18 months to less than 700 days | 6.6 |
| 700 days | 6.6 |
| More than 700 days to less than 36 months | 6.6 |
| 36 months to 120 months | 6.6 |
Note: The FD interest rates are effective as of 22 June 2022
FCNR (B) Fixed Deposit Interest Rates
| Currency | 1 year to less than 2 years | 2 years to less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years |
| USD | 4 | 3.75 | 3.5 | 3.5 | 3.5 |
| GBP | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 |
| EUR | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| AUD | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 |
| CAD | 1 | 1 | 1 | 1 | 1 |
Note: The FD interest rates are effective as of 3 August 2022
Penalty for Premature Closure of Resident/NRO Fixed Deposits
| Deposit amount | 7 – 13 days | 14 – 29 days | 30 days & above |
| Less than Rs 2 crore | No interest is paid | 0.50% is deducted from the applicable interest rate | 0.50% is deducted from the applicable interest rate |
| Rs 2 crore and above | No interest is paid | No Interest is paid | 2% is deducted from the applicable interest rate |
Penalty for Premature Closure of NRE Fixed Deposits
| Deposit amount | Less than 1 year | 1 year or more |
| Less than Rs 2 crore | No interest is paid | 0.50% is deducted from the applicable interest rate |
| Rs 2 crore and above | No interest is paid | 2% is deducted from the applicable interest rate |
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DCB Bank FD Calculator
DCB Bank fixed deposit comes at attractive interest rates ranging from 3.75% to 7.85%. Senior citizens enjoy additional rates on fixed deposits. The interest rate falls between 4.25% and 8.35%. It also offers tax-saving FDs for which the interest rate is set at 7.60% for general citizens.
Fixed deposit is preferred among investors as it is a secure investment avenue that offers guaranteed returns. However, the interest rate varies with the investment tenure and amount. You can conveniently use an online DCB Bank fixed deposit calculator to plan your investments. Here’s more.
DCB Bank Fixed Deposit (FD) Calculator
It is always helpful to estimate the maturity and accrued interest for an FD beforehand. But if you have to do so manually, it will be one time-consuming and cumbersome task. This is why you should use an online DCB Bank FD calculator. If you put in the right amount, tenure and rate of interest rate, you will get the accurate result in no time.
With the knowledge of FD investment returns, you can plan your investments according to your financial objectives.
How Does the DCB Bank FD Calculator Work?
DCB Bank fixed deposit calculator is a simple tool. You just need to follow the steps given below to figure out the result:
1. Put your investment amount in the “Total Investment” area
2. Drag the cursor to draw a purple line until reaching the desired tenure, or enter the number of years in the box given
3. Lastly, enter the interest rate and check the right side of the page
4. It will display the “Estimated Return”, and “Total Value” received against your FD investment
You can also conduct multiple alterations in the entered figures. This will help you to easily compare the returns from various FD schemes with varying interest rates.
Fixed deposit interest is calculated in either of two ways: compounding interest or simple interest.
In case of compound interest, use the following formula:
A = P (1 + r/n) ^ n*t
In this formula, “A” represents the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual DCB Bank fixed deposit interest rate
“n” stands for the frequency of compounding interest
“t” represents the investment term or tenure
Let’s take an example to understand the calculation procedure precisely:
Let’s assume you have booked a fixed deposit investment of ₹1,00,000 for 5 years at an annual interest rate of 6.5%.
As per the formula:
A = 1,00,000 (1 + 6.5%/1) ^ 1*5
A = ₹ 1,38,042
So, the interest amount is A – P, i.e., ₹1,38,042- 1,00,000 = ₹38,042
In case of simple interest, use this formula for manual calculation:
M= P+ (PXRXT/100)
Here M is maturity amount, P is the investment amount, T is tenure of investment and R is the rate of interest.
Simple interest is usually applied for FDs with a tenure of less than 1 year.
Benefits of an Online DCB Bank FD Calculator
Have a look at these remarkable benefits of an online DCB Bank FD Calculator:
- It offers simple and rapid calculations.
- It eliminates any risk of inaccuracy.
- The DCB Bank fixed deposit interest rate varies depending on the investment tenure. You can alter the figures as many times as you wish to find a suitable FD scheme that aligns with your financial goals.
- This tool is completely free and you can use it any time anywhere.
- You don’t need to share any personal information or register or sign up to use this tool.
Upstox DCB Bank fixed deposit calculator is a brilliant online tool. It helps you determine the interest and maturity amount of your fixed deposit investments within seconds. Also, it has a user-friendly interface for enhanced user experience. If you are planning to invest in DCB Bank FD, you can use this calculator and get a clear idea of your returns and decide how much to invest.
Frequently Asked Questions
What is the highest interest rate on DCB Bank FD?
The highest interest rate on DCB Bank FD for general citizens is 7.85%. However, the highest rate of interest for senior citizens stands at 8.35%. This rate is for deposit amount of less than ₹2 crore.
What is the minimum amount of investment for FDs at DCB Bank?
The minimum amount of investment for fixed deposit at DCB Bank is ₹10,000.
Do we have a premature withdrawal facility on DCB Bank FD?
Yes, DCB Bank has a premature withdrawal facility on DCB Bank FD. This is subject to penalty as applicable. No premature withdrawal is allowed on tax-saver FD or non-callable deposits.
In how many years has FD doubled in the DCB Bank?
You can calculate how many years it will take for your DCB Bank FD to double by using the rule of 72. Simply divide 72 by the interest rate applicable. For example, if your FD has an interest rate of 7% per annum, it will take (72/7) 10.28 years for your FD to double.
Can a customer open a term deposit account online in DCB Bank?
Yes, a new as well as an existing customer can open a term deposit account online in DCB Bank.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit an extra amount into an already existing FD. You can book another FD alternatively.
Does DCB Bank provide an auto-renewal facility for fixed deposits?
Yes, DCB Bank provides an auto-renewal facility for fixed deposits. However, this facility is not available for tax saving FD schemes.
What is the lock-in period for Tax Saving FD scheme?
The lock-in period for tax-saving FD scheme is of 5 years. You cannot make any premature withdrawal or take a loan against your FD during this tenure.
Are there any special rates for senior citizens?
Yes, DCB Bank offers special rates for senior citizens of an additional 0.50%.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.