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Dena Bank FD Rates

Dena Bank Ltd. was an Indian public sector bank, headquartered in Mumbai. It was founded in the year 1938, and the government nationalized it in 1969. On 17 September, 2018, the government proposed the amalgamation of Dena Bank and Vijaya Bank with the Bank of Baroda. The merger was approved on 2 January, 2019, by the Union Cabinet and the boards of the respective banks. The amalgamation came into effect on 1 April, 2019.

The fixed deposit rates applicable shall now be the one offered by the acquiring bank on the date of the merger. However, existing FD accountholders will continue earning the interest as promised earlier, until maturity. The rates applicable on fixed deposits will be as follows:

Domestic & NRO Term Deposits (p.a.) (ROI in %) - Below Rs. 2 crores - 2019

TenorsBelow Rs 2 crores (w.e.f. 13.03.19)
7 days to 14 days4.50
15 days to 45 days4.75
46 days to 90 days5.00
91 days to 180 days5.75
181 days to 270 days6.50
271 days & above and less than 1 year6.50
1 year6.70
Above 1 year to 400 days6.85
Above 400 days and up to 2 Years6.80
Above 2 Years and up to 3 Years6.70
Above 3 Years and up to 5 Years6.70
Above 5 Years and up to 10 Years6.70
444 days (Only for Baroda Samriddhi Deposit Scheme)7.00
  • Source: www.bankofbaroda.com/interest-rates-charges.htm
  • Note: Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

Domestic & NRO Term Deposits (p.a.) (ROI in %) - Rs. 2 crores to up to Rs. 10 crores - 2019

TenorsRs 2 crore to up to Rs 10 crore (w.e.f. 08.04.19)
7 days to 14 days4.50
15 days to 45 days4.75
46 days to 90 days5.25
91 days to 180 days5.75
181 days to 270 days6.50
271 days & above and less than 1 year6.75
1 year6.85
Above 1 Year and up to 2 Years6.80
Above 2 Years and up to 3 Years6.70
Above 3 Years and up to 5 Years6.70
Above 5 Years and up to 10 Years6.70
  • Source: www.bankofbaroda.com/interest-rates-charges.htm
  • Note: Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

Interest Rates for Domestic Term Deposits & NRO Deposits of Above Rs. 50 crores to up to Rs. 100 crores & above Rs 100 crores - 2019

TenorsAbove Rs. 50 crores to up to Rs. 100 croresAbove Rs. 100 crores
7 days to 14 days4.504.50
15 days to 45 days4.754.75
46 days to 90 days5.255.25
91 days to 180 days5.755.85
181 days to 270 days6.556.55
271 days & above and less than 1 year7.007.00
1 year7.307.30
Above 1 Year and up to 2 Years7.057.05
Above 2 Years and up to 3 Years7.057.05
Above 3 Years and up to 5 Years7.057.05
Above 5 Years and up to 10 Years****
  • Source: www.bankofbaroda.com/interest-rates-charges.htm

  • Note: Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

Baroda Tax Savings Term Deposit (w.e.f. 13.03.19)

TenorsDeposit [p.a.] less than Rs. 2 crores
For 5 years6.70
Above 5 years to up to 10 years6.70

Source: www.bankofbaroda.com/interest-rates-charges.htm

Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

*Premature withdrawal cannot be done prior to the completion of 5 years, except in case of demise of the customer

  • Capital Gain Accounts Scheme, 1988 For deposits under Capital Gain Accounts Scheme, 1988, the interest rate shall be applicable as per normal time and period. It will also not be in order to offer higher or differential interest rate on deposits received under the Capital Gains Accounts Scheme, 1988.
  • Domestic Term Deposits for Senior Citizens

Branches may continue to pay an additional interest of 0.50% on domestic term deposits of less than Rs. 2 crores for senior citizens for all tenors.

Baroda Advantage FD (domestic) Accounts (Fresh & Renewal) - From Rs. 15.01 lakhs to up to Rs. 2 crores

TenorsBelow Rs. 2 cr. (w.e.f. 13.03.19)
1 year6.85
Above 1 Years to 400 days7.00
Above 400 days and up to 2 Years6.95
Above 2 Years and up to 3 Years6.85
Above 3 Years and up to 5 Years6.85
Above 5 Years and up to 10 Years6.85
444 days (Only for Baroda Samriddhi Deposit Scheme)7.15

Source: www.bankofbaroda.com/interest-rates-charges.htm

Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

Baroda Advantage Fixed Deposit (domestic) Accounts (Non-Callable) 2019

Non-Callable bulk deposits of Rs. 2 crores and above will have additional interest by 10 bps over the interest rate applicable for Normal Bulk Deposits (callable). This will be on the basis of the maturity period of deposits as decided by The Treasury Department, BCC.

TenorsROI for Deposits of Rs. 2 crores to up to Rs. 10 crores (w.e.f. 08.04.19)Above Rs. 10 crores to up to Rs. 25 crores (w.e.f. 08.04.19Above Rs. 25 cr. to up to Rs. 50 cr. (w.e.f. 08.04.19)Above Rs. 50 cr. to up to Rs. 100 cr. (w.e.f. 08.04.19)Above Rs. 100 cr. (w.e.f. 08.04.19)
1 Year7.407.407.407.407.40
Above 1 Years and up to 2 Years6.907.157.157.157.15
Above 2 Years and up to 3 Years6.806.756.757.107.10
Above 3 Years and up to 5 Years6.806.756.757.107.10
Above 5 Years and up to 10 Years6.80----

Foreign Currency Non-resident Deposit - FCNR(B) - w.e.f. 01.04.2019. to 30.04.2019

Maturity PeriodUSDGBPEURYENCADAUD
1 Yr. to less than 2 yrs.3.28 (3.39) 1.27 (1.35) 0.00 (0.02) 0.20 (0.21) 2.72 (2.89) 2.12 (2.33)
2 Yrs. to less than 3 yrs.3.11 (3.33) 1.47 (1.62) 0.00 (0.06) 0.17 (0.19) 2.39 (2.66) 2.03 (2.28)
3 Yrs. to less than 4 yrs3.28 (3.53) 1.51 (1.70) 0.08 (0.15) 0.16 (0.18) 2.35 (2.67) 2.02 (2.28)
4 Yrs. to less than 5 yrs.3.25 (3.50) 1.55 (1.76) 0.14 (0.26) 0.16 (0.18) 2.35 (2.69) 2.19 (2.47)
5 Years3.26 (3.52) 1.59 (1.81) 0.24 (0.36) 0.17 (0.20) 2.38 (2.71) 2.25 (2.54)

Source: www.bankofbaroda.com/interest-rates-charges.htm

Note: i) Fixed deposit interest rates are subject to change anytime as per Bank’s discretion. ii) Figures in brackets reflect interest rate prior to revision. iii) The revised rates will be applicable or fresh deposits and on renewal of maturing FCNR (B) deposits until further notice. iv) No additional interest is allowed to senior citizen and staff.

NRE Term Deposits (Fresh & Renewal) (ROI in %):Less than Rs. 2 crores (w.e.f. 13.03.19)

TenorsBelow Rs. 2 cr.
1 Year6.70
Above 1 Year to 400 Days6.85
Above 400 Days and up to 2 Years6.80
Above 2 Years and up to 3 Years6.70
Above 3 Years and up to 5 Years6.70
Above 5 Years and up to 10 Years6.70
444 Days (Only for Baroda Samriddhi Deposit Scheme)7.00

NRE Term (Rupee) Deposits (w.e.f. 05.04.19)

Maturity RangeRs. 2 crores to up to Rs. 10 crores
1 Year6.85
> 1 yr. up to 2 yrs.6.80
> 2 yrs. up to 3 yrs.6.70
> 3 yrs. up to 5 yrs.6.70
>5 years up to 10 years6.70

Source: www.bankofbaroda.com/interest-rates-charges.htm

Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

NRE Term Deposits of above Rs. 10 crores to up to Rs. 50 crores 2019

Maturity RangeAbove Rs. 10 crores to up to Rs. 25 croresAbove Rs. 10 crores to up to Rs. 25 crores
1 Year7.307.30
> 1 year up to 2 years7.057.05
> 2 years up to 3 years6.706.70

Source: www.bankofbaroda.com/interest-rates-charges.htm

Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

NRE Term Deposits of Above Rs. 50 crores and more (Fresh & Renewal) 2019

Maturity RangeAbove Rs. 50 crores to Rs. 100 croresAbove Rs. 100 crores
1 Year7.307.30
> 1 yr. up to 2 yrs********
> 2 yrs. up to 3 yrs********
> 3 yrs. up to 10 yrs.********

Source: www.bankofbaroda.com/interest-rates-charges.htm

Note - Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.

Features of the Dena Bank FD Account

Following are some of the features of FD accounts:

  • In case of deposits for period less than one quarter, interest shall be determined for the actual number of days on the basis of 365/366 days in a year.
  • For deposit for over one quarter to less than or equal to 181 days, interest shall be first assessed for the completed quarter. Thereafter, it shall be calculated for actual number of days if terminal quarter is incomplete, reckoning the year at 365/366 days. While calculating interest for days, the interest calculated for quarter shall be added to the principal amount in order to determine the interest for the remaining days of terminal quarter.
  • For deposit of more than two quarters but less than a year, the interest shall be first calculated for the completed quarters. If the terminal quarter is not complete, the interest will be calculated for the actual number of days reckoning the year at 365/366 days. Interest will be assessed and compounded at quarterly rests.

Eligibility Criteria for Dena Bank FDs

Normally, all individuals and HUFs are eligible to open in FD accounts. Joint account may be held in the name of maximum two adults (or adult and child). The terms and conditions associated with firms, companies, trusts, societies, etc. opening an FD account will differ depending on the type of term deposit.

FAQs on Dena Bank Fixed Deposit

What is the interest rate that Dena Bank Fixed Deposit offers on senior citizens FDs?

Senior citizens are generally offered an additional interest of 0.50% on domestic term deposits.

Can I make alterations to the tenure of my ongoing Dena Bank Fixed Deposit?

An individual cannot change the tenure of an already active fixed deposit account. However, he or she can close the existing fixed deposit account and open a new one with tenure of his or her choice.

How to open a Dena Bank Fixed Deposit account without a PAN card?

In case PAN is not available, an individual will have to make a declaration in Form 60.

What is the highest interest rate offered by Dena Bank Fixed Deposit?

For Domestic & NRO Term Deposits below Rs. 2 crores, the interest rate can go up to 7%.

What are the FD tenure options with Canara Bank?

The bank offers a range of tenure options to fixed deposit holders. The minimum period for which deposit should be made is 7 days, while the maximum is 10 years.

What is the minimum amount required to start a Dena Bank Fixed Deposit account?

The minimum amount required to open a fixed deposit account is Rs. 1,000.

What is the eligibility criteria to open Dena Bank Fixed Deposit account?

Normally, all individuals and HUFs are eligible to open in FD accounts. The conditions associated with firms, companies, trusts, societies, etc. opening an FD account will differ depending on the type of term deposit.

Can I open my Dena Bank Fixed Deposit without a PAN card?

While it is possible to open a fixed deposit account without a PAN card, there are certain implications to it. The TDS applicable will be recovered at 20% (as against 10% with PAN card). There will be no TDS credit from the Income Tax department, and no TDS certificate shall be issued (As per CBDT circular no: 03/11). Additionally, penal TDS will apply and Form 15G/H and other exemption certificates become invalid. It must be noted that no deposit for a sum equal to or more than Rs. 50,000 shall be booked if the PAN is not provided.

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