New Delhi. Lockdown is going on in the country to prevent the spread of Coronavirus Pandemic and it is important to maintain social distancing. That is why most banks are now focusing more on online facilities. In this episode, DCB Bank has started a new facility for its customers. The bank is offering online FD account, free life insurance and good interest rates to the customers.
Know about DCB’s new FD scheme…
CNBCTV18 According to the news, one can choose DCB Zippi Online Security Fixed Deposit to avail the benefits of fixed deposit or free life insurance cover. An FD holder can choose compounding on a quarterly basis or receive the interest earned on a monthly or quarterly basis. From June 3, 2020, the interest rate on three-year fixed deposits is 7.35 percent per annum.
People anywhere in India can invest in DCB Zippi Online Fixed Deposit without needing to open a savings account with a bank.
On maturity of the FD, the principal amount and the interest earned is transferred to the customer’s savings account from which the principal or investment amount in the FD was received.
According to the bank, investing in Zippi FD is completely contactless, there is no need to visit the bank branch for this. Customers can open, manage and close this FD using their smartphone, tablet or computer.
You get Rs 50 lakh insurance for free –Most of the fixed deposits have a life insurance cover of Rs 50 lakh. This means that if the fixed deposit amount is more than Rs 50 lakh, then you will be eligible for a free life insurance cover of maximum Rs 50 lakh.
The insurance cover will be valid from the age of 18 years till the age of 55 years of the account holder. PAN, nomination and email ID are required to open it. The tenure of FD is 36 months.
The customer does not need to pay any separate premium for life insurance cover. There is no need for a medical test for the cover.
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Tags: Coronavirus pandemic, Fixed deposits, india lockdown, Lockdown-5
FIRST PUBLISHED : June 6, 2020, 15:23 IST