DBS Bank hikes FD rates by up to 100 bps and offers up to 8% on tenure

DBS Bank FD Rates

The bank will continue to offer an interest rate of 2.50% on fixed deposits maturing in 7 days, while DBS Bank India will continue to offer an interest rate of 2.75% on deposits maturing in 8 days and up to 60 days. The interest rates offered by DBS Bank India will continue to be 3.25 per cent for deposits for 61 days and 3 per cent for deposits for 62 days and above.

Deposits maturing in 181 days to less than one year will continue to fetch 4.75% interest, while deposits maturing in one year and up to 375 days will continue to fetch 6.25%. On fixed deposits maturing in 376 days to 600 days, the bank will continue to offer an interest rate of 7.25%, but for those maturing in 601 days to 2 years and less than 6 months, the bank has increased the interest rate by 75 bps is of. 6.50% to 7.25%.

DBS Bank India has added a new tenure of only 2 years and 6 months on which it is promising an interest rate of 7.25% for general public and 7.75% for senior citizens. On fixed deposits maturing in 2 years 6 months 1 day and less than 3 years, the bank has increased interest rates by 100 bps from 6.50% to 7.50%. Deposits maturing in 3 years to 5 years and above will continue to carry an interest rate of 6.50%.

For fixed deposit tenures of 181 days to 5 years and above, senior citizens will get an additional interest rate of 50 bps, or 0.50% additional interest over standard rates. In addition, up to DICGC insurance 5 lakhs covers your deposits with DBS Bank. Customers having Digi Savings Account with a minimum balance of Rs. Eligible to open Fixed Deposit in DBS Bank with an investment of Rs. 5,000 for fixed deposits and Rs. 100 for recurring deposit account. The bank holds “AA-” and “Aa1,” the two highest credit ratings in the world. DBS is a well-known financial services provider in Asia with more than 280 sites distributed in 18 countries.