Your Savings Just Got Smarter: Savings Accounts Now Offer Up to 8% Interest By This Bank– New Rates From April

The interest rates for resident savings bank accounts have been revised by DCB Bank. According to the bank's official website, the new interest rates will take effect on April 16, 2025, after the RBI lowered the repo rate by 25 basis points in April, from 6.25% to 6.00%. Interest rates of up to 8% are now available on a number of balance slabs from DCB Bank. These are DCB Bank's updated savings account interest rates.

DCB Bank Savings Account Rates

The bank is now giving an interest rate of 1.50% on balances up to Rs 1 lakh in the account, while DCB Bank is also offering an interest rate of 2.50% on balances over Rs 1 lakh but less than Rs 5 lakh in the account. For balance slabs of Rs 5 lakh to less than Rs 10 lakh in the account, DCB Bank is now giving an interest rate of 4.50%; for balance slabs of Rs 10 lakh to less than Rs 50 lakh in the account, the interest rate will be 6.60%.
Interest rates on DCB Bank savings accounts with balances between Rs 50 lakh and less than Rs 1 crore will now be 7.25%, while interest rates on accounts with balances between Rs 1 crore and less than Rs 2 crore will now be 7.50%.

The bank is presently giving an interest rate of 8.00% on savings account balances between Rs 2 crore and less than Rs 3 crore, while DCB Bank will currently pay an interest rate of 7.00% on balances between Rs 3 crore and less than Rs 50 crore. Customers will now receive 8.00% interest on balances in their accounts that are between Rs 50 crore and less than Rs 300 crore.

DCB Bank will now give an interest rate of 5.50% on accounts of Rs 300 crore and above.
Savings account at DCB Bank Interest will be paid quarterly and will be calculated daily depending on the account's clear balance at the end of each day. These interest rates are applicable to resident, NRE and NRO savings accounts.

Balance Range (Rs)	Interest Rate (% p.a.)
On balances up to 1 lakh in the account	1.50%
On balances above 1 lakh to less than 5 lakh in the account	2.50%
On balances from 5 lakh to less than 10 lakh in the account	4.50%
On balances from 10 lakh to less than 50 lakh in the account	6.60%
On balances from 50 lakh to less than 1 crore in the account	7.25%
On balances from 1 crore to less than 2 crore in the account	7.50%
On balances from 2 Crore to less than 3 Crore in the account	8.00%
On balances from 3 crore to less than 50 Crore in the account	7.00%
On balances from 50 crore to less than 300 Crore in the account	8.00%
On balances from 300 crore and above	5.50%
Source: Bank Website

"Rates mentioned are applicable for the incremental balances that are present corresponding to the amount slabs mentioned," mentioned DCB Bank on its website.

"Additional interest to be charged on overdrawn amounts for Savings Bank Account and Current Accounts. The Bank will levy interest @ 2% per month (monthly basis) on overdrawn balances for the period any Savings or Current account remains overdrawn," DCB Bank has highlighted on its website.

DCB Bank has informed the stock exchanges about the Board Meeting to be held on 25-Apr-2025 to consider and approve the yearly financial results for the period ended March 2025 and dividend/fund raising.