Big FD benefit! This bank is offering Rs 50 lakh insurance cover on fixed deposit

FD Calculator: After the outbreak of COVID-19 pandemic, fixed deposit interest rates have been going downwards jeopardizing the short-term investments of the majority of Indian investors. This lowering fixed deposit returns have an impact on the senior citizens too as they mainly invest in fixed deposits. However, there are still some banks that not only offer higher returns of more than 7 per cent but they give some added benefit like life insurance and health insurance cover. DCB Bank is one such bank that is offering DCB Suraksha FD, which is a fixed deposit scheme that offers an ideal combination of savings and safety for the depositor and its dependents.

DCB Suraksha has two unique features that make it a smart and ‘surakshit’ investment tool. First, it offers a high interest rate i.e, (7.60 per cent per annum for a three-year deposit, and second, it provides free life insurance cover of up to Rs 50 lakh without the need for any premium. What’s more, no medical tests are required for the insurance cover.

Key features of DCB Suraksha FD

1] Attractive interest rate for deposits with 36-month tenure.

2] Free life insurance equal to the deposit amount. Maximum life insurance cover of up to Rs 50 lakh across all DCB Suraksha Fixed Deposits in the name of the primary applicant.

3] Customers aged between 18 years to less than 55 years can apply for DCB Suraksha FD.

4] Prospective depositors can invest in the FD by providing PAN, nomination and email ID.

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Offer for NRIs too

DCB NRI Suraksha Fixed Deposit, under the aegis of the Suraksha FD, offers NRIs attractive returns as well as free life insurance equal to the fixed deposit amount.

DCB NRI Suraksha is available as Non Resident Rupee (NRE), Non Resident Ordinary Rupee (NRO) and Foreign Currency Non Resident (FCNR) Fixed Deposits. However, this FD stipulates a maximum amount for insurance and age of the customer, and minimum duration of the deposit.

DCB NRI Suraksha FDs are offered to NRIs residing in select countries such as USA, UK, Australia, Canada, the Eurozone, Singapore and the UAE.

So, DCB Suraksha FD is a good investment option for all categories of investors.