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  • Fixed Deposit BYTES FROM OUR KITCHEN

    Overview of Dena Bank Fixed Deposit

    Dena Bank was founded on 26th May 1938 as Devkaran Nanjee Banking Company by the family of Devkaran Nanjee. The name Dena Bank was adopted in December 1939 when it became a public company. The logo depicts the Hindu goddess ‘Lakshmi’, who is known as the goddess of wealth. The ‘D’ in the logo stands for dynamism, dedication and drive towards customer satisfaction. The heritage and strength of Dena Bank speaks for itself by continually rising above the competition decade after decade.

    With its headquarters in Mumbai, Dena Bank is owned by the government of India and has a vast network of 1400 branches across the nation. Dena Bank was nationalised in July 1969 thus becoming a public sector bank, constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

    About Dena Bank Fixed Deposits

    With its long and spectacular legacy, Dena Bank offers its customers a simple and secure solution for their investments with its fixed deposit account scheme. The current market capitalisation of Dena Bank is at a whopping ₹ 2,976.81 crores. With a net interest income of ₹ 2,671.11 crore and net profit of ₹ 76.56 crore as on December 2014, Dena Bank stands as a strong contender for its customer’s valuable investment.

    Types of Dena Bank Time Deposits

    • Dena Cash Certificate (DCC)
    • Dena Fixed Deposit (FD) scheme
    • Dena Freedom Deposit scheme
    • Dena Maha Tax Bachat Yojana scheme
    • Dena Samruddhi Deposit scheme
    • Dena Senior Citizen Deposit scheme

    Features of Dena Cash Certificate (DCC)

    • Interest rate: 6.30% p.a.
    • Maturity Amount: Rs.1,000
    • Maturity period: 7 years
    • Facilities available:
      • Nomination
      • Loan against the deposit
      • Overdraft against the deposit
    • TDS (Tax Deducted at Source) is deducted from the interest income as stated by the Income Tax Act, 1961.

    Features of Dena FD scheme

    • Tenure range: 7 days to 10 years
    • Interest payout: Monthly/Quarterly/Half-yearly/Yearly
    • Highest Term Deposit rate: 6.75% p.a. (1 year < 2 years)
    • Interest income treated with TDS as per the guidelines of the Income Tax Act, 1961.

    Features of Dena Freedom Deposit scheme

    • You can withdraw 90% of the amount invested initially as overdraft.
    • Minimum amount of investment: Rs.10,000
    • Scheme comes with a feature of automatic renewal of deposits in units of Rs.1,000
    • Cumulative interest payout
    • Interest is calculated as compound interest
    • Range of maturity period: 1 year to 5 years

    Features of Dena Maha Tax Bachat Yojana

    • Investment range: Rs.100 to Rs.1.50 lakh
    • Income tax-related benefits as per Section 80C of the Income Tax Act, 1961
    • FD interest rate: 6.30% p.a.
    • This is scheme is also open to a Non-Resident Indian.
    • No premature breaking of the FD allowed before the date of maturity

    Features of Dena Samruddhi Deposit scheme

    • Interest is compounded at quarterly intervals
    • Lower limit of deposit: Rs.100
    • Range of maturity: 6 months to 10 years

    Features of Dena Senior Citizen scheme

    • Applicable for individuals who are of the age 60 or above
    • Frequency of interest payment: Yearly/ Half-yearly/Quarterly/Monthly/Cumulative
    • Period of deposit (non-cumulative): 15 days to 10 years
    • Period of deposit (cumulative): 6 months to 10 years
    • Rates of interest (non-cumulative): 4.50% p.a. to 6.80% p.a.
    • Rates of interest (cumulative): 6.75% p.a. to 6.80% p.a.

    Dena Bank Fixed Deposit interest rates: Less than Rs.1 crore

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)

    7 days-14 days

    4.00%

    4.50%

    15 days < 1 month

    4.00%

    4.50%

    1 month-45 days

    4.50%

    5.00%

    46 days-2 months

    5.75%

    6.25%

    Above 2 months-3 months

    5.75%

    6.25%

    Above 3 months-4 months

    5.75%

    6.25%

    Above 4 months < 6 months

    5.75%

    6.25%

    6 months-9 months

    6.25%

    6.75%

    Above 9 months < 1 year

    6.25%

    6.75%

    1 year

    6.75%

    7.25%

    Above 1 year < 2 years

    6.75%

    7.25%

    2 years < 3 years

    6.60%

    7.10%

    3 years < 5 years

    6.25%

    6.75%

    5 years < 8 years

    6.30%

    6.80%

    8 years-10 years

    6.30%

    6.80%

    *The Dena Bank FD rates are subject to change as per the discretion of the bank. The rates mentioned in the table above are valid as of 31 December 2018.

    Eligibility criteria to create a Dena Bank Term Deposit account

    • Individuals are citizens of India
    • Individuals belonging to the Hindu Undivided Family
    • Minors who are represented by their natural or legal guardian
    • Associations and Societies
    • Clubs
    • Educational institutions
    • Trust Accounts
    • Firms with proprietorship
    • Firms in partnership
    • Limited Companies

    Documents to submit to open a Dena Bank FD account

    • Identity proof and residential proof such as:
      • Aadhaar Card
      • Voter ID Card
      • ID card issued by employer
      • Ration Card
      • Driving License
    • Permanent Account Number (PAN) card
    • Document indicating age (for minors and senior citizens):
      • Driving License
      • Passport
      • Pension Card
      • Birth Certificate

    FAQs on Dena Bank Term Deposit schemes

    1. What is the interest rate offered for Dena Cash Certificate scheme?
    2. The Dena Cash Certificate (DCC) comes at an interest rate of 6.30% p.a.

    3. Is the interest income on Dena Maha Tax Bachat scheme free from taxation?
    4. No, the interest income on this scheme is taxed under TDS according to the Income Tax Act, 1961.

    5. Can senior citizens avail a higher FD rate?
    6. Yes, senior citizens are eligible of receiving an additional interest rate of 0.50% on deposits under Rs.1 crore.

    7. What is the minimum deposit amount for Dena Senior Citizen scheme?
    8. The minimum investment amount for this scheme is Rs.1,000.

    9. What is the tenure range for Dena Bank FD scheme?
    10. The tenure range for Dena Bank FD scheme is from 7 days to 10 years.

    11. What is the minimum investment needed for Dena Samruddhi Deposit scheme?
    12. You must make a minimum deposit of Rs.100 to open a Dena Samruddhi FD account.

    13. What is the minimum deposit amount for Dena Freedom Deposit scheme?
    14. The minimum amount of investment for this scheme is Rs.10,000.

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    Dena Bank Fixed Deposit Reviews

    • Dena Bank Fixed Deposit
      "Good service"
      0.5 4.0/5 "Great!"
      I am having a Fixed Deposit with Dena bank from last 20 years. Dena Bank provides very good services when compared to all other banks. I pay a certain amount every month in this account. The maturity period is after every 2 years and i am happy with the returns of this deposit. Customer service was good and they gave the correct information.
      Was this review helpful? 2
      , navi mumbai
      Reviewed on Feb 01, 2018
    • Dena Bank
      Dena Bank Fixed Deposit
      "Need to work on their interest rate"
      0.5 4.0/5 "Great!"
      I am very much happy to have my fixed deposit with DENA bank . They are more customer friendly and customer oriented team. Their interest rates are quite normal, may be they can work on to reduce it. They should stand up in the market like private banks
      Was this review helpful? 28
      , bangalore
      Reviewed on Sep 12, 2014
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