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.
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.
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.
The Dena Cash Certificate (DCC) comes at an interest rate of 6.30% p.a.
No, the interest income on this scheme is taxed under TDS according to the Income Tax Act, 1961.
Yes, senior citizens are eligible of receiving an additional interest rate of 0.50% on deposits under Rs.1 crore.
The minimum investment amount for this scheme is Rs.1,000.
The tenure range for Dena Bank FD scheme is from 7 days to 10 years.
You must make a minimum deposit of Rs.100 to open a Dena Samruddhi FD account.
The minimum amount of investment for this scheme is Rs.10,000.
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Mumbai based Dena Bank has announced that they have revised the rates of some of the fixed (term) deposits. Under the new revisions, for fixed deposits held for periods of 7 to 45 days, the interest rates have gone up by 100 to 175 points while deposits held for longer than 45 days have had interest rates reduced by 25 to 50 basis points.
Bulk deposits that are made for amounts up to Rs 5 crores, with maturity periods up to 90 days have seen an increase in basis points ranging from 25 points to 225 points while term deposits for longer periods have seen a reduction of 25 basis points. The changes have also extended to the NRE term deposits which have seen a reduction in rates of 25-50 basis points. As of 1st Feb 2015 they have even reduced the interest rates for FCNR (B)/ RFC term deposits across all maturity periods.
4 February 2015
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
Fixed Deposit
Fixed Deposit
