Dakshin Bihar Gramin Bank Interest Rate For FD- In the 20 major districts of Bihar, there are 1078 branches of Dakshin Bihar Gramin Bank. The Punjab National Bank (PNB) is the bank’s sponsor. With 200 business correspondence services, Dakshin Bihar Gramin Bank is now Bihar’s largest RRB bank. Rural residents can easily take advantage of the bank’s fixed deposits at major RRBs with better interest rates. All of the bank’s customers can put money into fixed deposits.
A bank investment in the form of interest rates is known as a fixed deposit. The tenure period, interest rates, and the amount in your fixed deposit all play a role in determining this rate. Your interest rates are defined by these factors. The FD Interest rates offer numerous additional advantages. Additionally, based on each of the aforementioned factors, Dakshin Bihar Gramin Bank offers various FD Interest rates.
Dakshin Bihar Gramin Bank Interest Rate For FD
As you are aware, a Fixed Deposit (FD) is a bank investment option with a higher interest rate than a standard savings account. Due to the higher returns offered by an FD, you can comfortably achieve your financial objectives. The Bihar Gramin Bank FD lets you put down a one-time lump sum for a specific amount of time, from seven days to ten years. Depending on your convenience and financial goals, you can select any tenure offered by Bihar Gramin Bank FD.
The amount you deposit into a Bihar Gramin Bank FD will begin to earn interest based on the deposit’s tenure as soon as you select the tenure. At the time of opening an account with the bank, a customer is only permitted to make one lump sum deposit into a fixed deposit, and after that, the customer is not permitted to make additional deposits into the same FD account.
Dakshin Bihar Gramin Bank 2023 Interest Rate For FD Details
|Bank Name||Dakshin Bihar Gramin Bank|
|Article Name||Dakshin Bihar Gramin Bank 2023 Interest Rate For FD|
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About Dakshin Bihar Gramin Bank FD
In the Indian state of Bihar, Dakshin Bihar Gramin Bank is a regional rural bank (RRB). On January 1, 2019, Madhya Bihar Gramin Bank and Bihar Gramin Bank were combined to form the bank. Punjab National Bank is the sponsor of Dakshin Bihar Gramin Bank. The Bank is present in twenty districts of Bihar, namely Samastipur, Banka, Begusarai, Bhagalpur, Jamui, Khagaria, Lakhisarai, Buxar, Rohtas Munger, and Samastipur.
DBDH Gramin bank is a leading financial institution in Bihar. It was founded in 1973 and offers a wide range of financial products and services to its customers, including deposit, borrowing, and insurance products. It is known for its commitment to providing outstanding customer service. Dakshin Bihar Gramin Bank is also involved in a number of philanthropic activities, including the funding of educational scholarships and healthcare initiatives. In addition, it has a network of branches located across the state and is known for its commitment to providing high-quality banking services at affordable rates. DBDH Gramin bank is committed to helping its customers reach their financial goals and improve their lives through the use of sound banking practices.
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Features & Benefits: Bihar Gramin Bank Fixed Deposit
- Flexible FD tenures and competitive interest rates are available to fit your investment strategy.
- You can open a FD account online or at the Bihar Gramin Bank branch closest to you.
- There is no limit on the maximum number of FD FD tenures: From seven days to ten years, various interest payout options, including monthly, quarterly, and so on.
- Up to 85% of the FD amount can be borrowed or overdrawn using the loan or overdraft facility.
- Liquidity options are simple and quick.
- There is a facility for nomination.
- Through the tax saving term deposit scheme, senior citizens can receive a tax benefit of up to Rs 1,50,000. The bank also provides a NRE, NRO, and FCNR deposit facility. Senior citizens can also benefit from a higher interest rate than regular citizens.
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Types of Dakshin Bihar Gramin bank fixed deposit schemes
There are different types of Dakhin Bihar Gramin bank fixed deposit schemes available. The choice depends on the kind of interest rate offered, the tenure of the deposit, and the features of the scheme. Short-term schemes have a fixed term of 3-5 years, and provide higher interest rates. Long-term or regular schemes have a fixed term of 5-7 years and provide lower rates of interest. In between these two are hybrid schemes that combine the best features of both short- and long-term deposits.
Fixed deposits from Dakshin Bihar Gramin Bank come in a variety of forms. Among them are
- Normal fixed deposits
- Flexi fixed deposits
- Tax saving fixed deposits
Normal fixed deposits
- On average fixed deposits, you can get the fixed deposits tenure time between 7 days to 10 years.
- Here you can’t withdraw up to your tenure time.
Flexi fixed deposits
- In Flexi fixed deposits, you should link your bank saving account with the fixed deposits.
- Then you can quickly get transactions between your saving account to the fixed deposits.
Tax saving fixed deposits
- In tax-saving fixed deposits, you can be able to get the tax benefits.
- Here you have to fix a deposit of up to 1.5 lakhs.
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Dakshin Bihar Gramin Bank FD Interest Rates 2023
|Maturity period||Interest rates(p.a)|
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Bihar Gramin Bank FD Interest Calculator
The Bihar Gramin Bank FD Interest Calculator is an online financial tool that lets you figure out your fixed deposit’s maturity value at the bank’s interest rate. The maturity amount of the FD at the end of the tenure is determined jointly by the amount of the FD, interest rate, deposit tenure, and compounding frequency of interest.
The Bihar Gramin Bank FD interest calculator was developed to help you calculate the interest earned on a deposit with the bank. The formula used to calculate the interest is based on the deposit amount, the interest rate, and the number of months until maturity.
To use this tool, enter your deposit amount in dollars and select your desired number of months until maturity. To calculate the interest earned, simply enter your interest rate (e.g., 5%) and select one of the options below: monthly, quarterly, semi-annual, or annually. The result will tell you how much money you could have earned if you had deposited your funds with the bank at that time.
Calculation of Interest on FD of Bihar Gramin Bank
Interest on FD for different tenures is calculated in following manner:
- For fixed deposits with a duration of less than six months, simple interest is paid out at maturity.
- For fixed deposits with a term of at least six months, interest is calculated quarterly.
- Each quarter, the cumulative interest or reinvestment interest is calculated and added to the principal so that the interest earned in the previous quarter is also paid out.
- In the case of a monthly deposit plan, the interest will be paid monthly at a discounted rate over the Standard FD Rate and will be calculated for the quarter.
Automatic Renewal of Bank FD
The bank FD ends on a particular date. If you have not specified any specific instructions regarding the payout or renewal of the FD prior to its maturity, most banks will automatically renew the FD at the interest rate in effect on the date of maturity for the same time period for which it was originally issued. Automatic Renewal of Bank FD is the name of this.
If you do not want the bank to automatically renew your FD, you should select the option on the account opening form. When you deposit money into a FD, you have two options on the account opening form: you can have the money automatically renewed or you can have it deposited into your account at maturity. If you did not select any option on the account opening form, you will need to go to the bank branch on the day your bank FD matures to choose to have the final proceeds credited to your savings account instead of having it automatically renewed.