DCB Happy Savings Account: Get Cashback Up To Rs 7,500 Per Year, Check Details

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posted on 9 months ago — updated on 1 second ago

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Account holders need to maintain an average quarterly balance of Rs 25,000 to qualify for the cashback rewards.

DCB Bank Ltd has unveiled its new savings scheme with an attractive cashback offer for its customers. The DCB Happy Savings Account is aimed at customers who engage in substantial UPI transactions regularly.

The DCB Happy Savings Account requires a minimum average quarterly balance (AQB) of Rs 10,000. Account holders need to maintain an AQB of Rs 25,000 to qualify for the cashback rewards. Cashback for a given quarter will be deposited into the customers’ accounts in the first month of the subsequent quarter.

The cashback is capped at Rs 625 per month. The customers can receive a maximum cashback of Rs 7,500 per year. This attractive cashback promotion is open to both new customers and existing account holders. The existing account holders can also opt to convert their savings accounts to the DCB Happy Savings Account.

Praveen Kutty, Head Retail and SME Banking at DCB Bank, stated in a recent interview that the product offers the best of both worlds — exciting cashback rewards and a seamless banking experience.

“We believe this account will empower our customers to make the most of their everyday banking, with the potential to earn significant cashback while maintaining the required average quarterly balance,” he said.

According to Kutty, this is a testament to the bank’s commitment to providing innovative and rewarding banking solutions to their valued customers. This cashback is limited to debit card transactions within India only.

Besides the DCB Happy Savings Account scheme, DCB Bank has come up with another incentive for customers. The lender has increased the Fixed Deposit (FD) interest rates by up to 10 basis points (bps) for deposits below Rs 2 crore. According to the DCB Bank website, the new rates were implemented on December 13, 2023.

The bank offers the FD interest rate of 8 per cent to general customers and 8.60 per cent for senior citizens, post the revision. The bank has hiked the interest rate by 10 bps on tenure 12 months 1 day to 12 month 10 days from 7.75 per cent to 7.85 per cent for general citizens. For senior citizens, it was increased from 8.25 per cent to 8.35 per cent for the same tenure.