Correct Answer : Option (B) - DCB Bank
The Suraksha Fixed Deposit (FD) from DCB Bank, a private sector lender, has been relaunched. This FD offers higher interest rates and free insurance as well as other benefits.
This festive season, DCB Bank reintroduced this special type of FD that has a tenure of 3 years and offers an excellent mix of savings and safety for depositors as well as their dependents or loved ones.
Another attractive option is a regular Fixed Deposit without Suraksha insurance. For fixed deposits of 700 days or three years, the bank provides an attractive 7.10% annual interest rate, which yields 7.49% pa or 7.84% p.a, respectively.
Elderly individuals earn 7.60% annually over the same time period, and the yields are 8.05% and 8.45% annually, respectively. For a fixed deposit with a longer period of five years, the annualised return is 7% per year, for which the annualised yield is 8.43% p.a. Elderly individuals earn 7.50% annually, which represents an annualised yield of 9.14%.
DCB Bank Suraksha Fixed Deposit (FD) :
Two distinguishing characteristics of DCB Suraksha make it a wise and "surakshit" investment
. In addition, it gives free life insurance coverage up to Rs. 10 lakh
if the value of the Suraksha FD
is more than Rs. 10 lakh
. Furthermore, it offers a high interest rate of 7.10% p.a
. on a three-year deposit
. The insurance premium is not payable by the DCB Suraksha FD customer. Additionally, there is no need for a medical evaluation in order to benefit from life insurance coverage..Source : Mint