News About Dena Bank Fixed Deposit

• Dena Bank Rate Changes

  Lowering base rates through the repo rate change is a phenomenon that is quite widespread across Indian banks. Dena Bank is no alien to the same. While credit facilities benefit from the lower base rate, fixed deposits have been seeing regular cuts to their interest rates.

  For deposits less than INR 1 crore, the rates of interest are currently as follows. From 7 days to 29 days, the ROI offered by Dena Bank is 4.50% per annum. The rate becomes 5.50% per annum for a period of 30 days to 45 days. For 46 days to 60 days, the rate of interest if 6.25% per annum and a fractional increase further makes it 6.50% per annum for a period of 61 days to 90 days. The rates increase to 6.75% per annum for 91 days to 179 days. The interest rate of 7% per annum for deposit periods of 180 days to 270 days has now become 7.25% per annum, while the interest rate increases by another 0.25% to 7.50% per annum for 271 days to one year. For periods more than one year but less than 2 years, the interest rate is 7.60% per annum. From 2 years to less than 5 years, the ROI is 7.50% per annum. From 5 years to 10 years, the effective rate of interest is 7.35% per annum.

  

  9th February 2016

• Dena Bank offers revised interest rates

  Dena Bank has announced that they’ve also changed their interest rates on the term deposit savings schemes (domestic). The change in interest rates are with effect from 1st August 2015 for the term deposits owing to the imposed repo rate cuts on the directive of the Reserve Bank of India. As a result of the repo rate cuts by the RBI, the interest rate on many banking products have fallen.

  The rates for interest for a term deposit of 7-14 and 15-21 days of deposits less than Rs. 1 Crore has fallen by 1.5% from 6.5% to 5%. For Deposits Rs. 1 Crore and above but less than Rs. 5 Crore the new interest rate is 4.75% a fall of 2.25% from the earlier 7%, even deposits of Rs. 5 Crore and above is 4.75%. For deposits with a tenure of 30-45 days the new rates are 6.00% for deposits less than Rs. 1 Crore and for Deposits Rs. 1 Crore and above but less than Rs. 5 Crore the rate of interest is 5.75%, for deposits of Rs. 5 Crore and above is 5.75%.

  The best rate of interest offered for deposits less than Rs. 1 Crore is 8.25% for a minimum period of 365 day/1 year, for deposits less than Rs. 1 Crore and for Deposits Rs. 1 Crore and above but less than Rs. 5 Crore the current rate is 7.5%, for deposits of Rs. 5 Crore and above is also 7.5%.

  

  26th August 2015