Development Credit Bank

Development Credit Bank India is one of the most preferred banking institutions in the country which provides services across its branches that are located in ten states and two union territories of India. It has set deep roots in India ever since its establishment in the 1930s. The bank currently has over 2100 employees, and their total business turnover was Rs. 648.36 crores last year.

Brief History of DCB

This bank was formed as a result of a series of cooperative bank unions with Masalawala Co-operative Bank and Ismailia Co-operative Bank Limited. Both these banks were then united to form the Development Co-operative Bank. This name was later changed to Development Credit Bank (DCB), following the grant of scheduled bank license by RBI, in 1995. At present, it has a terrific network of 139 ATMs and 82 branches located across the country.

Services and Facilities

Its range of financial services and products includes banking for NRIs, mobile and Internet banking access to SME business loans, wealth management, home loans and business finance.

Residential Indians also get to avail banking solutions like current accounts, savings accounts, recurring deposits, fixed deposits, international ATM/debit cards, Credit Card (PayLess) and insurance products.

Their financial services include payment of income tax online, money transfer from one card to another card, online payment of utility bills, foreign exchange remittance, Electronic Funds Transfer, and much more.

DCB Debit and Credit Cards

With DCB International debit cards, you can enjoy cashless shopping experience with several good offers. This VISA debit card can be used freely in all VISA ATMs in the country. As with any other modern bank’s ATM card, you can get free SMS alerts, exciting offers, online shopping, and much more.

DCB Visa credit card is a powerful and efficient electronic means for making fund transfers, enabling the customers to transfer funds to any Visa credit card from their DCB account, anywhere across the country. Of course, you get to enjoy reward points, and a host of benefits with Development Credit Bank credit cards!

Loans Offered

Development Credit Bank India offers several different types of loans to meet all your financial needs. Summarized below are the types of loans:

• DCB Easy Business Loan: This loan assists you in realizing the concealed power of your property and facilitates you in using it more productively to meet your business needs.

        Loan Amount: 60% of the property value in market

        Tenure: Up to 7 years

        Loan amount range: Rs. 5,00,000 to Rs. 100,00,000

        Rate of interest: 15.25%

• DCB Loan against Gold: You can avail loans against gold for any kind of emergency and personal need.

        Loan Amount: Up to 80% of the appraised gold value

        Tenure: 1 year to 3 years

        Loan amount range: Rs. 25,000 to Rs. 10,00,000

        Rate of interest: 13.5% to 17%

• DCB Home Loan: You can avail loans for purchasing a new house, renovation of an existing house, and purchasing a piece of land. It can be granted to partnership firms, private limited companies, and individuals (businessmen as well as salaried professionals).

        Loan Limit: Up to 85% of property cost

        Tenure: Up to 20 years

        Loan amount range: Rs. 10 lakh to Rs. 5 crore

• DCB Auto Loan: Loans for purchasing automobiles can be easily availed with easy eligibility and speedy approval.

        Loan Limit: Up to 85% of the value of the car

        Tenure: 1 to 5 years

        Loan amount range: Rs. 1,00,000 to Rs. 10,00,000

Apart from these basic loans, you can also avail loans for purchasing commercial vehicles and construction-related equipments.

In addition to the above services, Development Credit Bank India has also launched many value added initiatives, and it aims at becoming one of the most profitable private sector banks in India by offering a complete set of class-leading products to its customers in Corporate Banking, SME and retail market segments.

MD & CEO Mr. Murali M. Natrajan and Chairman Nasser Munjee are the two key players who head this financial institution. Their total equity sums up to Rs. 200.17 crore, as of now.

With such a strong head held high, and their flag fluttering high in the sky, Development Credit Bank India surely has a long way to go. Wouldn’t you want to invest your faith in the bank?