DBS Bank revises interest rates on retail fixed deposits: Now get up to 6.50%

DBS Bank FD Rates

The bank now offers an interest rate of 2.50% on deposits maturing in 7 days, while DBS Bank also offers an interest rate of 2.75% on deposits maturing in 8 days and up to 60 days. Deposits maturing between 61 and 180 days will now attract 3.00% interest, while deposits maturing between 181 and one year will now attract 4.75%. The interest rate offered by DBS Bank is now 6.00% for deposits maturing in one year to 375 days and 6.25% for deposits maturing in 376 days to 540 days. On fixed deposits maturing in 541 days to less than 3 years, the bank will offer a maximum interest rate of 6.50% and on those maturing in 3 years and above, DBS Bank will now offer an interest rate of 6.25%.

Customers can open a Digibank FD with DBS Bank, starting from Rs. 5000 and choose your own amount and tenure. DICGC will cover your deposit amount up to 5 lakh Rs. On FD bookings up to INR 2 Crore, resident elderly citizens will get a preferential rate of 50 bps. Senior citizens only domestic fixed deposits are eligible for the special rate. For NRO and NRE fixed deposits, the senior citizen special rate benefit is not available. According to the bank, for a tenure of 181 days or more, the preferential rate will be effective.

According to DBS Bank, a simple interest rate will be paid on fixed deposits of less than 6 months and for fixed deposits of 6 months or more, interest will be paid on a quarterly basis.