Latest Fixed Deposit Interest Rate of DBS Bank
Published on: 29 August 2023
DBS Fixed Deposit interest rates were revised recently and offer investors high returns alongside convenience and safety. DBS is a celebrated bank, which has received accolades as the ‘World’s Best Bank’ and ‘Safest Bank in Asia’ multiple times.
You can get a high-interest rate of 7.50% when you book an FD at DBS Bank and enjoy a number of other features and benefits too. What’s more, you can choose the tenure that best suits you from the multiple options offered.
Following market trends, DBS Bank also offers perks to senior citizens booking fixed deposits. DBS Bank FD rates for seniors are higher by 0.50% for FDs booked for more than 181 days, which allows them to earn up to 8% interest per annum.
Read on to learn more about the DBS Fixed Deposit interest rate in 2023 for different maturity timelines.
DBS Bank FD interest rates for deposits below ₹2 crores
Opening an FD allows you to earn assured, predictable returns that you can count on. With a higher FD rate, you can earn more from your DBS Bank FD. Take a look at the latest rates as of July 2023.
The table below outlines the DBS Fixed Deposit interest rate based on your tenure and your profile as an investor.
| Fixed Deposit Tenor | DBS FD Rates for Regular Citizens | DBS FD Rates for Senior Citizens |
|---|---|---|
| 7 days | 2.50% | 2.50% |
| 8 days & up to 14 days | 2.75% | 2.75% |
| 15 days & up to 29 days | 4.00% | 4.00% |
| 30 days & up to 45 days | 2.75% | 2.75% |
| 46 days & up to 60 days | 2.75% | 2.75% |
| 61 days | 4.50% | 4.50% |
| 62 days & up to 90 days | 3.00% | 3.00% |
| 91 to 180 days | 3.00% | 3.00% |
| 181 to 269 days | 4.75% | 5.25% |
| 270 to less than 1 year | 4.75% | 5.25% |
| 1 year to 375 days | 6.25% | 6.75% |
| 376 days to 540 days | 7.25% | 7.75% |
| 541 days to 599 days | 7.25% | 7.75% |
| 600 days | 7.25% | 7.75% |
| 601 days to less than 2 years | 7.25% | 7.75% |
| 2 years to less than 2 years & 6 months | 7.25% | 7.75% |
| 2 years & 6 months | 7.25% | 7.75% |
| 2 years 6 months 1 day & less than 3 years | 7.50% | 8.00% |
| 3 years and less than 4 years | 6.50% | 7.00% |
| 4 years to less than 5 years | 6.50% | 7.00% |
| 5 years and above | 6.50% | 7.00% |
The FD rates displayed in this table are only applicable to individual Indian citizens. If you plan to invest more than ₹2 crores, you can get preferential rates, so contact DBS to know more.
DBS Bank also offers Tax-saver FDs, which allow you to get tax exemptions on the deposited amount. While regular investors can get an interest of 6.50% for a 5-year term, seniors can get an interest of 7%.
Also Read: Best banks for saving accounts in India
Benefits of starting an FD at DBS Bank
Here are the advantages you can access when you invest in a DBS Bank Fixed Deposit.
- Invest without delay: You can open an FD with DBS Bank with just ₹10,000 and get started on your investment journey without wasting a minute! What’s more, when you use the Digibank mobile application, you can start an FD investment with just ₹5,000.
- Choose from short to long tenures: You can not only enjoy high DBS Bank FD interest rates but also enjoy flexibility when it comes to choosing when your investment matures. Pick a tenure from 7 days to 5 years or more, so you can receive your interest payout when you need it.
- Open cumulative or non-cumulative FDs: Decide when you want to receive the interest earnings, every month or every quarter or get them at maturity to earn more.
- Experience simplicity with the mobile app: Digibank is a mobile banking application powered by DBS, on which you can open a fixed deposit digitally. You can also track your earnings, add a nominee and manage your FD seamlessly using the app.
- Enjoy safety at every step: When you open your FD with DBS Bank, you can also protect your invested corpus with the insurance provided by DICGC up to ₹5 lakhs.
With all these benefits, opening an FD with DBS Bank is one of the ways you can strengthen your financial health for the future. However, in case you need instant funds now for life’s many upgrades, you can rely on Fibe.
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FAQs on DBS Bank FD rates
What is the interest rate on FDs in DBS Bank?
DBS Bank offers varying interest rates on fixed deposits depending on the deposit amount, tenure and age of the investor. As of now, you can get FD rates up to 8% from DBS Bank for deposits under ₹2 crores.
What is the DBS Fixed Deposit interest rate in 2023?
As of July 2023, DBS Bank offers FD rates up to 7.50% to regular citizens and up to 8% to senior citizens on deposits for at least 2 years, 6 months and 1 day and shorter than 3 years.
Does DBS have fixed deposit options?
Yes, DBS Bank provides various fixed deposit options, allowing you to build your wealth safely and away from market fluctuations.
How is the DBS Fixed Deposit interest calculated?
The interest you earn from a DBS fixed deposit is calculated based on the deposit amount, interest rate, and the duration you choose to keep your money locked in. It also differs based on whether you choose to receive the payout at maturity or at regular intervals. To make your calculation easy, you can use the DBS Bank FD calculator.
How do I withdraw a fixed deposit from DBS?
You can prematurely withdraw your FD with DBS Bank using the mobile app, Digibank, or via net banking. In such cases, you will earn interest at a reduced rate with a 1% penalty based on the bank’s terms and conditions.
Category : Banking
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