Fulfilling your financial goals is about smart savings decisions. Fixed deposit (FD) is a reliable saving option to grow your savings for stability and consistent returns. However, not all FDs are the same. DCB Fixed Deposits have some additional features that make them a remarkable choice. Let’s take a look at how FDs can change your money habits.
Why consider a Fixed Deposit?
FDs are perfect for risk-averse investors looking to earn more than a regular savings account. Your money stays safe, grows steadily, and offers predictable returns.Â
DCB Fixed Deposit features:
- Attractive interest rates: Competitive rates on all deposit plans with additional interest rates for senior citizens.
- Flexible tenures: Select from terms ranging from 7 days up to 10 years.
- Loan against FD: Don’t want to encash your FD? Loan against FD is available with DCB Bank.
- Premature withdrawal: Access your money in emergencies with reasonable penal charges.
Who can open a Fixed Deposit with DCB Bank?
DCB Fixed Deposits are designed for everyone – be it young professionals stepping out of the savings platform or senior citizens looking for a steady growth. The procedure is easy and can also be completed online.Â
Here are some of the common questions for anyone planning to open fixed deposit:
Fixed Deposits encourage disciplined savings. They also offer a financial safety net by allowing you to prepare for crisis or envision life goals, such as education, travel, or purchasing a house. Additionally, knowing your return value in advance allows for better financial planning. Unlike market-dependent investments, FDs protect you from fluctuations, guaranteeing stable growth.
A decision to take DCB Fixed Deposits is foundational for stable future. With its flexibility, attractive rates, and customer-centric approach, it is your reliable partner in achieving financial stability. Start your journey today and watch your savings grow into a steady fortune!
- What is the eligibility and document required for opening a senior citizen fixed deposit?
Anyone aged 60 or above is eligible and is required to provide govt. issued ID proof (PAN card, Aadhaar, or Voter ID).
- How is TDS managed on FD and when is the TDS certificate issued?
It is deducted when the amount of interest is greater than ₹40,000 in a financial year (₹50,000 for senior citizens). The certificate is issued by the quarter every quarter.
- How to apply for TDS exemption?
Submit Form 15G (for non-senior citizens) or Form 15H (for senior citizens) when your income is below taxable limit.
- What is the penalty for not submitting the PAN card?
The TDS will be charged at a higher rate of 20% and you will not get a TDS certificate.
- Are FD rates different for NRIs?
Yes, DCB Bank offers special Fixed Deposits for NRIs with competitive rates.
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