Typically, when money or salary is parked in your savings account, it creates a comfortable pool of funds to use at will. A bout of feel-good shopping, the all-important household expenses, fuel for the car or an occasional indulgence, a Savings Bank account is the go-to resource for us! Funds or money readily available in the account is called – liquidity. Liquidity means that we have the benefit of instant, or near instant availability of money whenever the need arises. Be it cash, ATM, online or mobile app payment via
internet banking or Debit Card - funds are available instantly.
The fabulous convenience of liquidity however doesn’t result in the funds earning much when parked in the Savings Bank account! Well, to be fair, it is ‘give and take’, you probably settle for less interest rate to enjoy the benefit of liquidity. This is unlike the Fixed Deposit interest, that gives better return than savings. To counter this lower return proposition, DCB Savings Account offers interest rate from 2.75% p.a. to 6.75% p.a. on Savings Bank account deposit up to Rupees 10 crore and above - through progressive interest rates. What does this mean? This attractive interest rate for Savings Bank account enables you, the account holder to save more and be future ready with greater spending power in your hands.
Interest that you earn by simply parking money in the Savings bank account is calculated on progressive balance amount in each interest rate range described in the interest rate table 1.
An example here will help. Let’s assume the end-of-day balance in your DCB Savings Bank account is Rupees 20 Lakh. So, in the first interest rate range up to Rupees 1 Lakh will earn interest at 2.75% p.a., the next Rupees 4 Lakh will earn interest at 4% p.a., the next Rupees 5 Lakh will earn interest at 4.50% p.a, and the remaining Rupees 10 Lakh will earn interest at 5% p.a. This way, every additional Rupee parked in your DCB Savings Bank account provides more lucrative return.
Table 1 – Your DCB Savings Bank Account Interest Rate per annum.
Do refer to this second table titled ‘Effective Annualised Yield’. It represents the actual benefit and the added boost for your DCB Savings Bank account interest earning. This boost from the ‘Yield’, is the total interest earned by your funds parked in the DCB Savings Account across the progressive interest rate range.
Table 2 – the boost from the Yield!
Please note, terms and conditions are applicable. The interest rates are subject to change without prior intimation.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
 (1)_1713611592.jpg)
Through this exciting initiative, the brand aims to emerge as the go-to purveyor of authentic Chinese in India
New D
Jaipur, 18 April: Students of Jaipur have recently shown their remarkable achievement in the UPSC Civil Services Examination-
· Technopark-based Lifology holds conversation on IER 2024
Thiru
Business / 20-04-2024
MasterChow taps renowned Chef Ranveer Brar as its Brand Ambassador to champion Asli ChineseSports / 20-04-2024
Aditya Mehta Foundation's para cyclists Jyoti Gaderiya & Arshad Shaik achieve top world rankings in the latest Track Para Rankings, bringing pride to India!Business / 18-04-2024
STUDENTS OF JAIPUR'S JAYSHREE PERIWAL HIGH SCHOOL BRING LAURELS TO SCHOOL IN UPSCBusiness / 18-04-2024
India Employment Report pitches for policy to promote jobsBusiness / 18-04-2024
The EMAK Festoon Silent Heroes Awards-24 Concludes at Le Méridien, KochiPelikken © Copyright 2022, All Rights Reserved
