DCB Bank Savings Account
A scheduled commercial bank (regulated by the Reserve Bank of India), DCB Bank came into existence in the 1930s. The bank is governed and managed professionally, and has a strong network of 55 branches spread across 17 states and 2 union territories.
DCB Bank Savings Account Interest Rate:
Interest rates range on DCB Bank savings accounts range from 1.75% p.a. to 8.00% p.a effective 7 February 2022.
Types of DCB Bank Savings Account:
- DCB Elite Savings Account: DCB Elite Account is a unique account for the privileged customers. This account is full of powerful benefits and innovative services. Account holders get the freedom to choose any number, as per their preference, as their bank account number. Your account number consists of 14 digits, and you can choose the last 8 digits of the same. You can earn cashback of up to Rs.20,000 p.a. in your account.
- DCB Privilege Savings Account: DCB Privilege Savings Account promises maximum convenience, flexibility, and returns to account holders. Customers need to maintain a minimum balance of Rs. 5 lakhs. But this balance can be maintained across his/her savings account, fixed deposits, and mutual funds/insurance, availed through DCB Bank, in any combination. You can earn cashback of up to Rs.6,000 if you maintain an average quarterly balance of Rs.50,000.
- DCB CashBack Savings Account: For every purchase you make using your DCB CashBack debit card, you get rewarded with a cashback of up to Rs. 6000, in a financial year. This privilege is available to only DCB CashBack Savings account holders.
- DCB Classic Savings Account: An account which is very easy to maintain, promises a huge list of benefits, and has the quintessential features of a standard savings account. With just a requirement of maintaining minimum balance of Rs. 5000, you can use this account for conducting transactions, conveniently.
- DCB Basic Savings Bank Deposit Account: An easy to maintain and use, hassle-free, zero minimum balance required account. The account comes with basic banking facilities and basic features of savings account.
- DCB Shubh-Labh Savings Account: DCB Bank understands that opening an account is an auspicious occasion for every customer. To make the occasion even more special, memorable, and profitable for customers, the bank rewards you with each transaction you make with this account. You can earn up to 5.65% p.a. in your account on maintaining an Annual Quarterly Balance of up to Rs.1 lakh. You can also avail cashback on using your DCB debit card with the advantage of 3.25% on your savings account balance.
- Savings Account Minimum Balance Requirements: The minimum balance to be maintained in each type of DCB savings account depends on factors like type of the savings account, deposit tenure, etc. Hence, it might differ from one type of savings account to another. The comprehensive table below explains the minimum balance that needs to be maintained in each type of savings account.
Type of Savings Account | Minimum Balance |
DCB Privilege Savings Account | Rs. 5 lakhs (in a combination across accounts) |
DCB Elite Account | Rs. 50,000 (average quarterly balance) |
DCB Cash Back Savings Account DCB Classic Savings Account | Rs. 5000 (average quarterly balance) Rs. 10,000 (average monthly balance) |
DCB BSBDA Account DCB Family Savings Account (merged with BSBDA Account) | No minimum balance required |
Other Banks offering Savings Account in India
Bank of Baroda Savings Account
Kotak Mahindra Bank Savings Account
How to Open a DCB Bank Savings Account?
Applying for a Savings Account at BankBazaar.com involves three simple steps :
Step 1: In the first step, the user must fill the Savings Account eligibility form available online with required personal data. Once submitted the Savings Account tool automatically checks for eligibility of the applicant and personalized Savings Account options.
Step 2: In the second step, the applicant can compare various Savings Account options offered by the tool interface and apply for the best suitable Savings Account.
Step 3: The last step involves receiving an instant e-approval from BankBazaar.com after successful submission of Savings Account application online.
The application is sent electronically to the selected bank. The Savings Account department of the concerned bank gets in touch with the applicant directly. Users can check the status of their application through SMS alters as well as emails.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on DCB Bank Savings Account
- I hold a DCB Elite Savings Account, what happens if the account number chosen by me has already been allotted to some other customer?
One particular account number can be assigned only to one customer. If the account number, you wish to have, has already been assigned to some other customer, then you can open an account in another DCB Bank branch, where that number is available.
- What is the meaning of TRV?
TRV means Total Relationship Value held in rupees, a customer has with DCB Bank.
- I hold a DCB CashBack Savings Account. Are all kinds of purchases made through this card included in the cashback calculation?
Yes, all your purchases at merchant outlets charged to this card are taken into consideration during cashback calculation.
- Is there a minimum amount that I have to spend every month, to avail the cashback on my DCB CashBack Savings Account?
Yes, you have to spend at least Rs. 800, through your DCB Platinum Debit card to avail the cashback facility.
- For my DCB Classic Savings Bank Account, who is entitled to be my joint applicant?
You can have anyone you wish to as a joint applicant for your DCB Savings Account, as long as he/she isn't a minor (i.e below 18 years of age).
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