India Current Update

See information about the DCB Happy Savings Account, which offers cashback of up to Rs 7,500 annually

<p>The new savings plan from DCB Bank Ltd. includes an alluring payback incentive for its clients. The DCB Happy Savings Account is intended for those who often do large UPI transactions.</p>
<p><img decoding=”async” class=”alignnone wp-image-379794″ src=”” alt=” see information about the dcb happy savings account which offers cashback of up to” width=”1050″ height=”700″ title=”See information about the DCB Happy Savings Account, which offers cashback of up to Rs 7,500 annually 15″ srcset=” 510w,×100.jpg 150w” sizes=”(max-width: 1050px) 100vw, 1050px” /></p>
<p>The minimum average quarterly balance (AQB) needed to open a DCB Happy Savings Account is Rs 10,000. For account users to be eligible for the cashback benefits, they must maintain an AQB of Rs 25,000. In the first month of the next quarter, consumers will get their cashback for that particular quarter.</p>
<p>The maximum cashback amount each month is Rs 625. Customers are eligible for up to Rs 7,500 in cashback annually. Both new and current account owners are eligible for this alluring cashback offer. Current account users have the option to switch to the DCB Happy Savings Account from their current savings accounts.</p>
<p>In a recent interview, DCB Bank’s Head of Retail and SME Banking, Praveen Kutty, said that the product delivers the best of both worlds: thrilling cashback incentives and a flawless banking experience.</p>
<p>He said, “We think this account will enable our customers to get the most out of their regular banking, with the possibility to earn substantial cashback while keeping the necessary average quarterly balance.”</p>
<p>Kutty claims that this demonstrates the bank’s dedication to provide its cherished clients cutting-edge and fulfilling banking products. Debit card purchases made inside India are the only ones eligible for this cashback.</p>
<p>In addition to the DCB Happy Savings Account program, DCB Bank has developed an additional client incentive. For accounts under Rs 2 crore, the lender has raised the interest rates on Fixed accounts (FDs) by up to 10 basis points (bps). On December 13, 2023, the new rates went into effect, according to the DCB Bank website.</p>
<p>Following the change, the bank will continue to provide senior people and general clients an FD interest rate of 8.50% and 8.50%, respectively. For common residents, the bank increased the interest rate by 10 basis points (bps) for terms ranging from 12 months 1 day to 12 months 10 days, from 7.75 percent to 7.85 percent. It was raised from 8.25 percent to 8.35 percent for elderly folks for the same duration.</p>

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