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Fixed Deposit Calculator: Big news! Rs 27,760 interest will be available on FD of Rs 1 lakh, know calculation details

Fixed Deposit Calculator: Big news! Rs 27,760 interest will be available on FD of Rs 1 lakh, know calculation details

Presently almost all banks from government to private have increased interest rates. In such a situation, customers have a good chance to earn more money in a safe way. There are some banks which are offering up to 8% interest to their customers.


New Delhi. Presently almost all banks from government to private have increased interest rates. In such a situation, customers have a good chance to earn more money in a safe way. There are some banks which are offering up to 8% interest to their customers. One of these is DCB Bank. DCB Bank is offering up to 8.25 per cent interest on FDs of 36 months to senior citizens. The bank is also paying 8.25% interest on deposits of more than 700 days and less than 36 months.

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In a statement on Thursday (December 1), DCB Bank said its latest fixed deposit interest rates provide an opportunity to senior citizens to earn attractive returns in their golden years.

More than 27 thousand interest will be available on deposit of 1 lakh

Fixed deposit calculator shows that DCB Bank is giving interest of Rs 27,760 to senior citizens on investment of Rs 1 lakh in FD for three years. The bank said that Senior Citizen FD offers higher income for individuals aged 60 years and above.

Know the bank’s interest rates

On deposits of less than Rs 2 crore with DCB Bank for 700 days, senior citizens can earn 7.60% interest per annum. The bank offers a higher interest rate of 8.25% per cent to senior citizens for tenors ranging from 700 days to less than 36 months.

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Senior citizens also have the option of booking longer term FDs, for example, from 36 months to 60 months at 7.75% per annum. DCB Bank is offering one of the highest FD rates among private sector banks. With DCB Bank FD, senior citizens get the option to choose interest payment options such as monthly, quarterly, half-yearly or annually. They also get the option to transfer the interest directly to the savings bank account.

DCB Bank MCLR Rate

The bank has increased the Marginal Cost Based Lending Rate ie MCLR (MCLR) by 0.27 percent for different periods. Now taking a loan from the bank will become expensive. The new rates of the bank will be applicable from November 5, 2022. The bank informed the stock exchanges on Friday that the current one-year MCLR rate of 9.96 per cent will now be 10.23 per cent. Similarly, the MCLR for a period of one month, 3 months and 6 months will be 9.63 per cent, 9.79 per cent and 10.02 per cent respectively. One day MCLR will be 9.58 percent.

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