New Delhi: DCB Bank has relaunched its ‘Suraksha Fixed Deposit’ scheme amid the festive season. DCB Bank Suraksha Fixed Deposit scheme is available for FD of 3 years and you get life insurance cover as well. It provides protection for the depositors as well as their dependents. DCB Bank said in a statement that the Suraksha Fixed Deposit scheme offers a high annual interest rate of 7.10 per cent on three-year deposits.
The life insurance cover will be equal to either the fixed deposit amount. This fixed deposit will be valid only up to a maximum of Rs 10 lakh if the amount exceeds Rs 10 lakh. The bank said that no investor would be charged for the insurance coverage. Since the insurance cover is being linked with the FD, no medical test will be required for the investors.
The bank informed that the life insurance cover is available with a tenure of 36 months and is valid from the age of 18 years till the age of 55 years of the depositor. DCB said that people outside India can also invest in it.
However, if a senior citizen wants to invest in the DCB Bank Suraksha fixed deposit scheme, they will be offered a higher interest rate of 7.6 per cent, yielding an annualized return rate of 8.05 per cent and 8.45 per cent, respectively, over a period of three years.
The bank offers 7.10 per cent per annum interest rate on FDs for 700 days or 3 years and 7.49 per cent or 7.84 per cent per annum interest on deposits.