DCB revises fixed deposit rates

Development Credit Bank (DCB), the listed state of the art bank, has announced a change in interest rates on its fixed deposits with maturities of one year and above. Interest rates on fixed deposits for one year maturity have been fixed at 10.50%. While for One to Three years the FD rate is 10.25%.

In order to offer choice to its customers, bank has ensured very competitive Fixed Deposit rate across all tenures. In line with this strategy, the Bank has effected only a very small cut of 25 basis points for fixed deposits with a maturity of one year (365 days), which stands readjusted from the earlier 10.75% to 10.50%.

In a statement, Mr. Praveen Kutty Executive Vice President and Head Consumer Banking Group DCB, stated, “The interest rate environment has softened in recent time. DCB remains committed to offering value to its depositors and customers. We have used this opportunity to realign our deposit interest rates in line with our growth strategy. We believe DCB is offering the most competitive deposit rates in the industry for deposits of One year to Three years. DCB customers will benefit from their relationship with the Bank”. The interest rate slabs are effective from February 10, 2009. DCB offers a full suite of Fixed Deposits, and value added Savings account products for the retail customer.

Customers may please note:

• Rates of Interest are subject to revision without notice
• Our valued customers who have completed the age of 60 years at the time of booking of the deposit are senior citizens. Please check for special interest rates at www.dcbl.com or call DCB 24 hour customer care at 3281 1322

ABOUT DCB
DCB is a private sector bank with 80 state-of-the-art branches spread over nine states and two union territories. The Bank provides its customers free access to over 30,000 ATMs across India. The Bank has recently launched several value added initiatives and intends to become one of the country’s preferred and profitable private sector banks, providing a comprehensive suite of “best in class” products for specific market segments in chosen geographies. DCB has initiated a liability and select asset product led strategy, through a mix of owned and outsourced products and multi-channel capabilities.