DBS Bank India hikes FD rates by up to 7.25% for tenures of 376 to 600 days

DBS Bank FD Rates

The bank is now offering an interest rate of 2.50% on deposits maturing in 7 days and is now promising an interest rate of 2.75% on deposits maturing in 8 days and up to 60 days. DBS Bank will now fetch interest at the rate of 3.25% on deposits of 61 days, while deposits of 62 days and up to 180 days will fetch interest at the rate of 3.00%. Deposits maturing in the next 181 days to less than one year will now fetch 4.75%, while deposits maturing in the next 365 days to one year will now fetch 6.25%.

On deposits maturing in 376 days to 600 days, DBS Bank is now offering a maximum interest rate of 7.25% and on deposits maturing in 601 days to 5 years and above, the bank is now promising an interest rate of 6.50%. Used to be. Senior citizens will get an additional interest rate of 50 bps or 0.50% over the regular rates for fixed deposit tenures of 181 days to 5 years and above. Only Domestic Fixed Deposits are eligible for Senior Citizen Special Rate. For NRO and NRE Fixed Deposits, Senior Citizen Preferential Rate Premium is not available.

You can set your own amount and tenure while opening a DBS Bank FD starting from Rs. 5000. Additionally, your deposits with DBS Bank are insured by DICGC Insurance 5,00,000 (Rs. 5 lakh). On maturity or early termination, the interest earned on your Fixed Deposit is credited to your account. However, premature withdrawal may attract penalty. Customers having Digi Savings account can easily open Fixed Deposit. The minimum investment required for a fixed deposit is Rs. 5,000, and for recurring deposit, it is Rs. 100 in DBS Bank.

With over 280 locations spread across 18 countries, DBS is a leading financial services company in Asia. DBS has presence in Greater China, Southeast Asia and South Asia. It is headquartered in Singapore and publicly traded there. The bank has some of the best credit ratings in the world holding “AA-” and “Aa1”.