DCB Bank Senior Citizen FD Rates 2025

What is a DCB Bank Senior Citizen FD?

DCB Senior Citizen FD is a fixed deposit scheme tailored for individuals aged 60 and above, offering returns with interest rates higher than those for regular customers. With a minimum deposit requirement of just ₹10,000, it provides a smart option for senior citizens looking to earn income or preserve capital. The highest rates are available for select tenures, such as 15 to 16 months and 24 to 25 months, making it a competitive choice for retirees seeking returns. Investors can view the latest DCB Bank FD interest rates and open an account conveniently through online or offline channels.

Key Benefits of DCB Bank Senior Citizen FD

Here are some key advantages provided to senior citizen FD holders:

1. Flexible Tenure Options: 

   DCB Bank allows senior citizens to choose FD durations ranging from 7 days to 10 years, enabling them to align their investments with short-term needs or long-term retirement planning.

2. Multiple Interest Payout Options: 

   With DCB Bank, senior citizens can opt for monthly, quarterly, half-yearly, annual, or cumulative interest payouts, helping them manage regular income flow for day-to-day expenses or allow earnings to grow.

3. Auto-Renewal Facility: 

   DCB Bank offers an auto-renewal option, ensuring that senior citizens don’t have to visit the branch or go online to reinvest at maturity, providing convenience and continued returns without interruption.

4. Sweep-in/Sweep-out Facility: 

   DCB Bank’s sweep-in/sweep-out feature automatically transfers surplus funds between the savings account and FD, offering senior citizens the dual benefit of liquidity for emergencies and higher interest earnings on idle funds.

5. Premature Withdrawal Facility: 

   Withdraw your FD early if required. A penalty of 0.50% applies for deposits under ₹3 crore, and up to 2% for deposits above ₹3 crore.

DCB Bank FD Interest Rates for Senior Citizens

Below is a tabular representation of the applicable DCB Bank senior citizen FD rates for different tenures and deposit slabs:

DCB Bank FD Rates for senior citizens Below ₹3 Crores

*DCB Bank FD interest rates w.e.f. May 07, 2025

Note: It’s advisable to compare FD interest rates across leading banks in India to choose the most suitable option for your needs.

How to Open a DCB Bank Senior Citizen FD

1. Online Method 

   • Ensure you're 60 years or older with valid age proof.
   • Log in or register on the DCB Zippi+ app or Zippi web portal.
   • Select ‘Open Fixed Deposit’ and choose the Senior Citizen FD option.
   •  Enter the deposit amount and select your preferred tenure.
   •  Fund the FD using your linked savings account, UPI, or net banking.
   • Upload required documents (age proof, ID proof) if not already KYC-verified.
   • Review all details and submit the request.
   • Receive instant confirmation and e-receipt in the app.

2. Offline Method 

   • Visit your nearest DCB Bank branch with a valid ID and proof of age.
   • Request the Senior Citizen FD account opening form.
   • Fill in the form with depositor details, FD amount, tenure, and nominee info.
   • Submit the form along with:
     • Age proof (Aadhaar/PAN/Pension Card)
     • Address proof and recent passport photo
   • Provide a cheque or request an internal transfer from your DCB savings account.
   •  Receive a printed FD receipt with rate and maturity details.

Taxation on DCB Bank Senior Citizen FD Interest

Interest earned on DCB Bank Senior Citizen FDs is taxable and added to your total income as per your tax slab. From April 1, 2025, TDS is deducted only if the annual interest exceeds ₹1 lakh. Senior citizens can submit Form 15H to avoid TDS if their income is below the taxable limit. Under Section 80TTB, they can also claim a deduction of up to ₹50,000 on interest earned. Tax-saving FDs qualify for Section 80C benefits, but the interest is still taxable.

Key Takeaways

DCB Bank FD interest rates for senior citizens offer a preferential rate of up to 0.50% higher than regular FDs, based on the chosen tenure and booking method. Individuals aged 60 years and above are eligible and can open the FD either online via the DCB Zippi platform or by visiting a branch, ensuring ease and flexibility. However, the preferential rate may offer limited benefits for shorter durations, making it less appealing for those seeking higher short-term returns. Senior citizens may consider other financial instruments depending on their income goals.