How to Open DCB Bank Fixed Deposit Account
Updated on: Aug 29th, 2023
Navigating the banking landscape to find the perfect fixed deposit (FD) scheme can be a task, but DCB Bank offers streamlined options catering to various financial goals. If you're considering locking in your savings with an FD at DCB Bank, it's essential to understand the account opening process.
This guide will take you through the step-by-step procedure of initiating and setting up your FD account with DCB Bank. From the required documentation to the digital conveniences they offer, we'll ensure your journey is as smooth as possible. Dive in to kickstart a secure financial future!
Opening an FD Account in DCB Bank
Follow the steps given below to open an FD at DCB Bank:
Step 1: Visit the nearest DCB bank branch and fill up the FD account opening form.
Step 2: Enter all the necessary information, like tenure and deposit amount.
Step 3: Attach all the necessary documents and a cheque for funding your deposit.
Step 4: Collect the Fixed Deposit Receipt (FDR).
DCB Bank FD Eligibility Criteria
The eligibility criteria for opening an FD at DCB are as follows:
- Nationality: Indian or NRI
- Age: 18 years and above
- Applicant Type: Individual, Hindu Undivided Family (HUF), partnership firm, sole proprietorship, etc.
Documents Required for DCB Bank FD Account
These are the documents required for opening a DCB bank FD:
- Identity proof: Aadhaar card, Voter ID card, PAN card, Government ID card, senior citizen ID card or driving licence.
- Address proof: Passport, Voter ID card, Aadhaar card, electricity bill, telephone bill, or bank statement with a cheque.
- Recent passport-sized photographs.
When is the right time to invest in a term deposit?
The right time to invest in a fixed deposit depends on the investor's financial goals, risk appetite, and prevailing interest rates. Generally, it is advisable to invest in fixed deposits when the interest rates are high and are expected to remain stable for the investment period.
Why should I invest in FDs when other investment instruments offer better returns?
FDs provide a guaranteed return on investment and are relatively low-risk compared to other investment instruments.
Is the ₹5 lakhs DICGC insurance cover applicable on DCB Bank FD?
Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover applies to DCB Bank FD.
How to break FD in DCB?
To break a term deposit in DCB, visit the nearest branch and fill out the FD Account Closure Form. Provide the required KYC documents and submit the FD certificate. You can also break your FD using the DCB Bank Mobile Banking app.
What medical benefits come under the DCB Health Plus Fixed Deposit scheme?
The medical benefits under the DCB Health Plus Fixed Deposit scheme apply to over-the-phone and face-to-face appointments with doctors, coverage for prescribed medicines and emergency ambulance services. The number of times you can avail of these benefits during the maturity period depends upon the amount you invest.
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Lock in returns as high as
8.35% before they go down
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