Don't be misled by the advertisement the bank is giving in the newspaper and its website. There is small catch * T & C apply. Now a days banks are also offering misleading advertisements to get the attention of customers. See the above advertisement bank is actually paying 9.60% p.a. for the fixed deposits of less than one crore for the period 24 months to 36 months. Then wherecome 10.97% ??. The bank is using 'effective yield' as the tool. The effective yield works out to be 10.97% for the above period. But the bank's should not use such misleading ads for attracting customers.
The DCB Bank is offering 9.6% for deposits of less than one crore for the period 24 months to 36 months and the senior citizens will get 0.5% above this rate for the same tenure.
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