Dena Bank 2023 Interest Rate For FD- Dena Bank’s plan for fixed deposit accounts is pretty good. You get profit and security from it. Under Dena Bank’s fixed deposit program, the FD Rates of Interest are actually quite profitable. The high interest rates offered by fixed deposit accounts are well-known. In a similar vein, the FD account at Dena Bank has a very high interest rate. despite following the Reserve Bank of India’s guidelines. Dena Bank’s fixed deposit may be an option for you as a retailer if you want to boost your profits. The range fluctuates throughout the year, but it always reaches a high.
The current interest rates being offered by different financial institutions in the market. The cost of funds (i.e., cost of borrowing) charged by the bank or other financial institution that manages the account. The maturity or remaining term of the account (typically measured in years). The riskiness of the underlying investments held in the account (i.e., their volatility and liquidity). Other factors, such as market conditions and economic outlook, may also impact the interest rate on a Dena Bank FD.
Dena Bank 2023 Interest Rate For FD
One of the many deposit options available to bank customers is a fixed deposit account. You deposit a predetermined amount into a fixed deposit account at regular intervals over a predetermined time period in a fixed deposit account. You can get your money and the interest you’ve earned after this predetermined time. Usually there is a lot of interest. After all, that is why fixed deposit accounts are designed to help you earn more interest and profits.
On April 1, 2019, Bank of Baroda and Dena Bank merged. The Union Cabinet and the boards of the respective banks accepted the proposal on January 2, 2019. As a result, as of April 1, 2019, the depositors of Dena Bank merged with those of Bank of Baroda. Customers who want to learn more about Dena Bank FDs or open FDs with Dena Bank should therefore visit the Bank of Baroda. The Bank of Baroda’s fixed deposit account rates are provided below.
Dena Bank 2023 Interest Rate For FD Details
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About Dena Bank Fixed Deposit Interest Rate Calculator
The Dena Bank Fixed Deposit calculator is a user-friendly and hassle-free tool for quickly calculating the maturity amount and interest earned and due at policy termination. You can determine the appropriate FD amount by entering some fundamental information. An investor can use the FD Calculator to determine the rates for fixed deposits by following these steps. The fixed deposit interest rate calculator is designed to help you determine the interest you will earn on a fixed deposit.
This type of account allows you to set aside a specified amount of money for a defined period of time with the expectation that the amount will not be withdrawn until the term ends. Fixed deposits are typically offered by banks and other financial institutions as a way to store your money for a longer period of time with guaranteed returns. Fixed deposits usually have higher interest rates than regular savings accounts or money market funds, which can make them a good option for those who want to invest their money for longer terms. In addition, fixed deposits can provide peace of mind in the event of an emergency as the funds are locked in until the term ends.
Features of the Dena Bank FD Account
The features of the Dena Bank FD account also make it convenient and user-friendly. Withdrawals can be made quickly and easily through a variety of methods, such as checks or electronic transfers. In addition, there are no fees associated with making deposits or withdrawals from the account. This makes managing your funds easier and more cost-effective.
Some of the features of FD accounts are as follows:
- Interest will be calculated based on the actual number of days, divided by 365/366, for deposits with a term of less than one quarter.
- Interest will be calculated first for the quarter that has passed for deposits lasting more than or equal to 181 days. If the final quarter is incomplete, the actual number of days will be used to determine the year’s total, which will be 365/366 days. In order to determine the interest for the remaining days of the terminal quarter, the quarter-calculated interest must be added to the principal amount.
- The interest will be calculated first for the quarters that have already been completed for deposits of more than two quarters but less than a year. The interest will be calculated based on the actual number of days counting the year at 365/366 days if the final quarter is not completed. At quarterly rests, interest will be assessed and compounded.
Read Here – ICICI Bank 2023 Interest Rate For FD
Dena Bank Loan Against Fixed Deposit
In India, a dena bank loan against fixed deposit (DBLAFD) is a type of loan in which a depositor deposits money into his/her FD, and then the bank loans the deposited amount to the depositor. The interest rate on such loans is typically higher than on regular savings accounts because it takes into account the risk associated with lending to individuals. In other words, the interest rate is higher because there is more risk involved in loaning money to individuals rather than institutions like banks or insurance companies.
- Up to 85 to 90 percent of the deposits can be used as collateral for loans. According to RBI guidelines, they can be used for any purpose other than investments in India and have a maximum ceiling.
- The be cannot be used to invest in real estate, re-lend money, or conduct agricultural activities.
- In some areas, loans against an NRE fixed deposit can be used for non-repatriation investments in India as well as the acquisition of houses and apartments subject to the specified conditions.
- Fresh international remittances or maturation proceeds from NRE/FCNR fixed deposits will be used to make the loan and interest payments.
Read Also- IDFC Bank 2023 Interest Rate For FD
Domestic Term Deposits less than Rs.2 Cr
|Tenure||For General Public||For Senior Citizens|
|7 days – 14 days||3.00%||3.50%|
|15 days – 45 days||3.00%||3.50%|
|46 days – 90 days||4.50%||5.00%|
|91 days – 180 days||4.50%||5.00%|
|181 days – 210 days||5.25%||5.75%|
|211 days – 270 days||5.75%||6.25%|
|271 days – Less than 1 year||5.75%||6.25%|
|Above 1 year – 400 days||6.75%||7.25%|
|Above 400 days – Up to 2 years||6.75%||7.25%|
|Above 2 years – Up to 3 years||6.75%||7.25%|
|Above 3 years – Up to 5 years||6.25%||6.90%|
|Above 5 years – Up to 10 years||6.25%||7.25%|
|Above 10 years (MACT/MACADCourt Order schemes only)||6.25%||6.75%|
|399 Days (Baroda Tiranga Plus Deposit Scheme)||7.05%||7.55%|
Check Here-Bank Of Baroda 2023 Interest Rate For FD
Dena Bank NRIs NRE/NRO Fixed Deposit for below Rs.2 Crores (Non Callable)
|Tenure||Rate of Interest (p.a.)|
|Above 1 year – 400 days||6.75%|
|Above 400 days – Up to 2 years||6.75%|
|Above 2 years – Up to 3 years||6.75%|
|Above 3 years – Up to 5 years||6.25%|
|Above 5 years – Up to 10 years||6.25%|
|399 Days (Baroda Tiranga Plus Deposit Scheme)||7.05%|
Also Read-Indusind Bank 2023 Interest Rate For FD
Dena Bank Fixed Deposit Calculator
Using the fixed deposit calculator, you can figure out how much interest your deposit has earned. You can subtract the amount of interest from the policy’s maturity value using the calculator. You can find out exactly how much interest was earned. To determine the maturity value, simply enter the tenure, deposit amount, and interest rate for that tenure.
The fixed deposit calculator below shows the total amount of interest that can be earned by depositing a certain amount of money into a particular bank’s fixed deposit account. The variable used in the calculation is the term or length of the deposit, which represents how long the money will be held by the bank. You can choose between different terms to see how different amounts change the overall return.
How To Apply?
To apply for a Dena Bank Fixed Deposit, you must work with the branch office’s customer service representatives. Additionally, you can apply via phone banking and online banking.
Features and Benefits
- Competitive interest rate
- Several investment plans to choose from
- Interest paid out at customer’s demand
- 0.50% extra interest paid to senior citizen