Also known as the Development Credit Bank, the DCB is a modern commercial bank operating from its headquarters in Mumbai. It offers internet or online banking for both individual and business customers to meet their diverse banking needs.
In addition, the bank offers a range of savings accounts with various features to accommodate different preferences and requirements. Furthermore, this bank provides an attractive interest rate on its savings account ranging from 1.75% p.a. to 8.00% p.a. Read along to know more about the latest DCB Bank savings account interest rate.
Latest DCB Bank Savings Account Interest Rates 2024
The following table highlights the recent DCB Bank savings account interest rate.
| DCB Savings Account Balance | Interest rates |
| Till ₹1 lakh | 1.75% p.a. |
| From ₹1 lakh to less than ₹2 lakhs | 3.00% p.a. |
| From ₹2 lakhs to less than ₹5 lakhs | 3.00% p.a. |
| From ₹5 lakhs to less than ₹10 lakhs | 5.25% p.a. |
| From ₹10 lakhs to less than ₹2 crores | 8.00% p.a. |
| From ₹2 crores to less than ₹5 crores | 5.50% p.a. |
| From ₹5 crores to less than ₹10 crores | 7.00% p.a. |
| From ₹10 crores to less than ₹50 crores | 7.75% p.a. |
| From ₹50 crores to less than ₹200 crores | 7.75% p.a. |
| ₹200 crores and more | 5.50% p.a. |
DCB Bank Savings Account Minimum Balance Required
Here is a table mentioning the minimum amount you are required to keep in different types of DCB Bank savings interest rate accounts:
| Savings Account Type | Amount (in ₹) |
| DCB Classic Savings Account | ₹5,000 in Tier 1 branches |
| ₹2,500 in Tier 2 branches | |
| DCB Elite Savings Account | ₹25,000 |
| DCB Students Savings Account | NIL |
| DCB Premium Savings Account(DCB Shubh Labh Savings Account) | ₹10,000 |
| DCB Privilege Savings Account | ₹5 lakhs |
DCB Bank Savings Account Charges
Here is a table that highlights the charges on DCB Bank savings accounts:
| Category | Charges |
| Issuance of chequebook | ₹5 per leaf |
| Issuance of debit card | ₹199 |
| Issue of Duplicate Demand Draft (DD)/Cancellation/Revalidation of DD | ₹50 per instrument |
| NEFT | ₹2 per transaction till ₹10,000₹4.50 per transaction from ₹10,000₹14.50 per transaction from ₹1 lakh to ₹2 lakhs₹24.50 per transaction from ₹2 lakhs and above |
| IMPS | ₹4.50 per transaction till ₹1 lakh₹14.50 per transaction from ₹1 lakh to ₹2 lakhs |
| RTGS | ₹24.50 per transaction from above ₹2 lakhs to ₹5 lakhs₹49 per transaction from ₹5 lakhs and above |
| Stop payment | ₹50 per instrument |
| Closure of account | Within 30 days of opening the account – No chargeAfter 30 days but within 6 months – ₹250After 6 months – No charge |
Why Choose a DCB Bank Savings Account?
The following are the key points which make it a reasonable choice to open a savings account with DCB Bank:
- DCB Bank prioritises the security of your financial information, ensuring that your money is safe and secure.
- With DCB Bank, you can enjoy free and unlimited use of NEFT or RTGS facilities.
- You can easily access your savings account through DCB net banking, mobile banking, and SMS banking.
- The DCB Bank offers a variety of savings account options tailored to different banking needs.
- You can earn competitive DCB Bank savings account interest rates ranging from 1.75% to 8% per annum depending upon the type of account you choose.
Key Benefits of DCB Bank Savings Account
Here are the crucial benefits of opening a DCB Bank savings account:
- ATM transactions are free, with up to 5 free transactions allowed at both DCB and Visa ATMs.
- Joint applicants are welcome, and anyone over 18 years old can be added.
- You can take advantage of high daily transaction limits for added flexibility and convenience.
How to Open an Online DCB Bank Savings Account?
To avail the DCB Bank savings account interest rate, you need to follow the steps mentioned below and open an account online:
- Step 1: Go to the official website of the DCB Bank.
- Step 2: Under the ‘Open an Account’ section, click on ‘Savings’.
- Step 3: A new page will display from where you have to select the type of savings account you want to open.
- Step 4: Verify the applicable DCB Bank SB interest rate and choose the account type you want to open.
- Step 5: Select the option ‘Leave Number’.
- Step 6: Provide the required details like your name, phone number, email ID, etc.
Upon submission, the bank officials will contact you for the next process.
How to Open an Offline DCB Bank Savings Account?
Here are the simple and easy steps that you need to follow to avail the high-yielding DCB Bank savings interest rate and open an account offline:
- Step 1: Visit the nearest DCB bank branch.
- Step 2: Ask the bank executives for a form to open a savings account.
- Step 3: Fill out the form with the required information. Additionally, make sure that the details in the form match your KYC documents.
- Step 4: Next, the bank will check and verify the details you provided.
After successful verification, you will receive a free passbook, a chequebook, and a debit card as an account holder.
Eligibility Criteria to Open DCB Bank Savings Account
The following are the applicants who are eligible to open the DCB savings account and availing the DCB Bank savings interest rate:
- Individuals aged 18 or the legal age of majority.
- Minors with their parents or legal guardians.
- Qualified NRIs, HUFs, and Indian residents.
- Corporate entities, including companies, enterprises, partnerships, estates, sole proprietorships, and other body corporates.
- Individuals capable of maintaining the minimum balance, where required.
Documents Required to Open DCB Bank Savings Account
The following are the required documents for opening a savings account and avail DCB savings account interest rate:
- Proof of identity like PAN card, Aadhar card or passport
- Proof of address like utility bills, your driver’s licence, voter ID card, and other similar documents
- If opting for an elite, premium, or privileged savings account, submit details about your company
- Latest passport-size photos
Types of DCB Bank Savings Account and Its Features
The following table provides a brief overview of the different types of DCB Bank SB interest rate accounts and their features:
1. DCB Classic Savings Account
- Access all DCB Bank and Visa ATMs in India without any limits for free
- 25 free cheque leaves per month
- Easily pay your bills, taxes, and more through net banking
- Utilise NEFT or RTGS services without any fees
- Enjoy complimentary access to DCB mobile banking and utility payment services
2. DCB Elite Savings Account
- You have the special privilege of choosing any number as your bank account number.
- Earn rewards for shopping and making payments via your DCB Platinum Debit Card.
- Access all DCB Bank and Visa ATMs across India without any limitations for free.
- Transfer amounts freely through RTGS/NEFT without incurring any charges.
- Avail benefits from a 50% discount on locker fees, subject to terms and conditions.
- Utilise services like demand drafts, pay orders, and pass-book facilities.
3. DCB Students Savings Account
- Utilise your DCB Debit Card for free at DCB Bank ATMs.
- For accounts with an Average Monthly Balance (AMB) below ₹25,000, enjoy the first 5 transactions free.
- If AMB is above ₹25,000, the first 8 transactions are complimentary.
- Enjoy 25 free cheque leaves every month.
4. DCB Premium Savings Account(DCB Shubh Labh Savings Account)
- You can explore a variety of investment products and services.
- Earn rewards for using your DCB Debit Card in transactions.
- Access all DCB Bank and Visa ATMs across India without any limitations for free.
- 50 cheque leaves free every month.
5. DCB Privilege Savings Account
- Earn cashback on your POS transactions with the DCB Platinum Visa Debit Card.
- Access all DCB Bank and Visa ATMs across India for free without any restrictions.
- This bank provides internet banking, mobile banking, and utility payment services for free.
- Receive personalised assistance from a dedicated relationship manager.
DCB Bank Savings Account Transaction Limit
Here is a table that mentions the transaction limit of different types of DCB Bank savings accounts:
| Savings Account Type | Transaction Limit |
| DCB Classic Savings Account | Cash Withdrawal Limit – ₹25,000 per day POS Limit – ₹50,000 per day |
| DCB Elite Savings Account | Cash Withdrawal Limit – ₹25,000 per day POS Limit – ₹2 lakhs per day |
| DCB Students Savings Account | ₹10,000 per day |
| DCB Premium Savings Account(DCB Shubh Labh Savings Account) | Cash Withdrawal Limit – ₹50,000 per day POS Limit – ₹1.5 lakhs per day |
| DCB Privilege Savings Account | Cash Withdrawal Limit – ₹50,000 per day POS Limit – ₹2 lakhs per day |
How to Close a DCB Bank Savings Account?
By following the below-mentioned steps you can ensure a hassle-free closure of your DCB savings account.
- Step 1: Fill out the Account Closure Form from DCB Bank’s website or get it from your nearest home branch.
- Step 2: Sign and submit the form to the branch manager or officer-in-charge. If there are joint account holders, each one must sign the form.
- Step 3: Attach a copy of your PAN (Proof of Identity and Address) to the form. You may also need to self-attest these documents.
- Step 4: Provide your balance passbook, debit card and balance cheque leaf to the bank branch.
The bank processes your account closure request after receiving all the necessary items. After verification, if they find everything is in order, you will be asked to withdraw the remaining balance in your account. You can withdraw the balance either in cash, through a cheque or DD issued in your name, or by transferring the amount to another account. You will receive an email or SMS notification once your account is closed.
DCB Bank Savings Account Onboarding Kit
The DCB Bank savings account will have the following items in its onboarding kit:
- Cheque Book of DCB Bank
- DCB Debit Card
- Documents having the details of DCB Personal Internet Banking
Final Word
In conclusion, choosing a DCB Bank savings account comes with various benefits. It not only offers a secure banking experience but also provides attractive interest rates depending on your account balance. With low fees, free ATM transactions, and high daily transaction limits, DCB Bank ensures a convenient and flexible banking experience for its customers. So, if you are looking for a reliable bank with competitive DCB Bank savings account interest rates, DCB Bank is an ideal choice.
FAQs
If the account number you wish for is already taken, you can opt to open your account in a different DCB Bank branch where the desired number is still available. Each account number is unique and can only be allocated to one customer.
There are no charges for signature verification at DCB Bank savings accounts.
The DCB Privilege Savings Account gives you the opportunity to maintain ₹5 lakhs of Total Relationship Value across various DCB fixed deposits and savings accounts.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
