DCB Bank has revised the interest rates on savings accounts which is now in effect from October 1, 2021. This private sector bank offers a range of savings account options to its customers. For resident Indian citizens, the bank offers DCB Elite savings account, DCB Privilege savings account, DCB CashBack savings account, DCB Classic savings account, DCB Basic Savings deposit account, DCB Elite current account, DCB Business Saver current account, DCB SmartGain current account, DCB PMJDY account, DCB Classic current account, DCB student savings account, DCB Shaurya savings account, DCB savings account Saahas, DCB RERA current account, DCB Kisan Mitra savings account, DCB Insti Prime savings account, DCB Insti Prime current account, DCB Shubh -Labh savings account.
DCB Bank Savings Account Interest Rate
For Resident Savings Accounts, NRE and NRO, the most recent interest rates are as follows.
|Interest rates for resident savings accounts, NRE and NRO (as of October 1, 2021)|
|Equilibrium range (INR)||Interest rate pa WEF October 1, 2021|
|On balances up to 1 lakh on the account||2.75%|
|On balances greater than 1 lakh to less than 25 lakh on the account||5.00%|
|On balances of 25 lakh to less than 50 lakh on the account||6.00%|
|On balances of 50 lakh to less than 2 crore on the account||6.50%|
|On balances of 2 crore to less than 50 crore in the account||5.50%|
|On balances of 50 crore and more||5.00%|
|Source: Bank website|
Transaction fees on current accounts and DCB Bank savings accounts
Effective March 1, 2020, the transaction fees for National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS) and Immediate Payment Services (IMPS) performed at branches have been adjusted as follows:
|transaction amount||NEFT Fees||RTGS fees||IMPS fees|
|Amount up to INR 10,000||INR 2.00||Not applicable||INR 4.50|
|Amount greater than 10,000 INR 4.50 INR Not applicable 4.50 INR and up to 1 INR Lakh||INR 4.50||Not applicable||INR 4.50|
|Amount greater than INR 1 Lakh INR 14.50 Not applicable INR 14.50 and up to INR 2 Lakh||INR 14.50||Not applicable||INR 14.50|
|Amount greater than INR 2 Lakh INR 24.50 INR 24.50 Not applicable and up to INR 5 Lakh (including INR 2 Lakh for RTGS)||24.50 INR||24.50 INR||Not applicable|
|Amount greater than INR 5 Lakh||24.50 INR||INR 49.00||Not applicable|
Monthly cash withdrawal limit and applicable fees for DCB current accounts and DCB savings accounts
As of March 1, 2020, the service fees for cash withdrawals have been changed. The new pricing structure is as follows:
- Monthly cash withdrawal limit and applicable fees Less than or equal to 3 times the previous month AMB – Free.
- More than 3 times and up to 10 times from the previous month AMB – 1 INR per thousand cash withdrawals.
- More than 10 times from the previous month AMB – 2 INR per thousand cash withdrawals.
- For DCB current accounts, the charge levied for each transaction over the applicable free limit will be INR 100 per transaction over the free limit plus applicable taxes.
- For DCB Savings Account, the fee charged for each transaction over the applicable free limit will be INR 100 per transaction over the free limit plus applicable taxes.
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Article first published: Wednesday, October 6, 2021, 9:20 a.m. [IST]