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Senior Citizens Fixed Deposit Interest Rates in DCB Bank

Updated 15 Dec 2023

For senior citizens, financial security during the golden years is paramount. FDs (Fixed Deposits) have always been preferred, offering both safety and decent returns. Recognizing the unique needs of the elderly, DCB Bank has curated special FD schemes tailored for senior citizens.


These FDs offer higher interest rates than regular deposits and come with additional perks catering to their specific requirements. In this blog, we will shed light on the FD rates offered by DCB Bank for senior citizens, helping them navigate their options and make an informed investment decision for a worry-free retirement.

Features of Senior Citizen FD

  • Enhanced Interest Rates: Senior citizens typically receive a bonus interest rate on top of the regular FD rates. The specific rate hinges on the bank's current offerings.
  • Qualification: Only individuals 60 or older can establish a senior citizen FD account.
  • Duration: Depositors can choose from a diverse range of FD durations, usually between 7 days and 10 years.
  • Early Withdrawal: Although penalties may apply, senior citizens often benefit from more accommodating terms for premature FD closures.
  • Borrowing Options: Like other depositors, senior citizens have the privilege of securing loans against their FDs.
  • Beneficiary Assignment: The bank allows a beneficiary to inherit the FD funds after the account holder's passing.
  • Tax Deduction at Source (TDS) Implications: Earnings from interest are taxable under Indian tax regulations. Yet, by submitting Form 15H, eligible senior citizens can avoid TDS deductions.
  • Automatic Renewal: IDBI, among other banks, possibly features an automatic renewal mechanism, ensuring the FD's continuation post-maturity unless directed otherwise.
  • Deposit Limits: The deposit range for a senior citizen FD can differ. While a minimum threshold is often set, a maximum limit might be absent.
  • Unique Offerings: Periodically or based on bank initiatives, exclusive perks or attributes tailored for senior citizens may be presented.

Interest Rates for Senior Citizens

TenureSenior Citizen FD Rate
7 days - 1 month 14 days4.25%
1 month 15 days - 2 months 29 days4.50%
2 months 30 days - 5 months 26 days5.30%
5 months 27 days - 9 months 29 days6.75%
9 months 30 days - 1 year 2 months 28 days7.75%
1 year 2 months 29 days - 1 year 5 months 28 days8%
1 year 5 months 29 days - 1 year 10 months 29 days8.30%
1 year 11 months - 2 years 11 months 29 days8.50%
2 years 11 months 30 days - 9 years 11 months 28 days8.30%

Note: All interest rates shown above are as of 4th Aug 2023

Eligibility Criteria

The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.

Documents Required

The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.


Identity Proofs

  • Aadhar Card 
  • Passport
  • Driver’s License


Address Proof

  • Gas Bill 
  • Utility Bill 
  • Bank Statement 
  • Cancelled Cheque

Age proof is mandatory to avail of a Senior Citizen FD account.


Who qualifies as a senior citizen at DCB Bank?

Generally, individuals aged 60 years and above are considered senior citizens by most banks, including DCB Bank.

Is there a specific tenure for senior citizen FDs at DCB Bank?

DCB Bank offers a range of tenures for FDs. However, the special interest rate for senior citizens is applicable across various tenures.

Can I open a joint FD account with a senior citizen rate?

Yes, but typically, the primary account holder must be a senior citizen to avail of the special rates.


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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

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