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savings account interest rates: DCB revises savings account interest rates: Check latest rates here

has revised interest rates on savings accounts. The bank’s official website states that the revised interest rates are effective from August 22, 2022. Following the revision, the savings bank account holders can earn up to 7% interest rate on savings account deposits.

DCB Bank savings account interest rate

The bank will now provide an interest rate of 2.25% for balances in savings accounts under Rs 1 lakh, and an interest rate of 4.00% for balances in savings accounts between Rs 1 lakh and Rs 2 lakh. According to the DCB Bank website, interest will now be paid on savings account balances between 2 lakh and less than Rs 5 lakh at a rate of 5.00% and on balances between Rs 5 lakh and less than Rs 10 lakh at a rate of 6.00%.

The DCB Bank will now pay on savings account balances between Rs 10 lakh and under Rs 25 lakh is 6.75% interest. Savings account balances between Rs 25 lakh and less than Rs 2 crore will earn a maximum interest rate of 7%. Savings accounts will now earn interest at a rate of 5.50% for balances between Rs 2 crore to Rs 50 crore. On balances from Rs 50 crore and above it is 5.00%.

dcb-savings-aug22

The above rates are applicable for resident, NRE and NRO Savings bank account.

According to the DCB Bank website, “Interest will be calculated daily based on end of day clear balance in the account and will be paid quarterly.”

Many banks including Federal,

, and have revised their savings account interest rate recently.


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