DBS Bank Updates Its Fixed-rate FD Interest Rates

Deposits maturing in 600 days will now have a maximum standard interest rate of 7.25%, and for seniors, a maximum standard interest rate of 7.75%.

Highlights

  • The bank offers an interest rate of 2.50% on FDs that mature in 7 days
  • Deposits maturing in the next year to 375 days will now earn 6.25% interest
  • The bank will now offer an interest rate of 7.25% on FDs that mature in 600 days

BankThe interest rate of DBS Bank on fixed deposits under Rs. 2 crore has been revised. The lender's official website states that the revised or new interest rates are valid as of November 18, 2022. The bank now offers interest rates on fixed deposits maturing in 7 days to 5 years or more that range from 2.50% to 6.50% for the general public and 2.50% to 7.00% for senior citizens as a result of the change. Deposits maturing in 600 days will now have a maximum standard interest rate of 7.25%, and for seniors, a maximum standard interest rate of 7.75%. Due to the modification, Digi bank by DBS now offers the fixed deposit interest rates that are displayed below.

DBS Bank FD Rates
The bank offers an interest rate of 2.50% on FDs that mature in 7 days, and DBS Bank offers an interest rate of 2.75% on FDs that mature in 8 days and up to 60 days. The interest rate on fixed-rate deposits (FDs) offered by DBS Bank is currently 3.00% for FDs maturing in 61 days or less and up to 180 days, and 4.75% for FDs maturing in 181 days or more and less than one year.

Deposits maturing in the next year to 375 days will now earn 6.25% interest, and those maturing in the next 376 days to 599 days will now earn 6.50% interest. The bank will now offer an interest rate of 7.25% on FDs that mature in 600 days, and DBS Bank will now guarantee an interest rate of 6.50% on FDs that mature in 601 days to 5 years or longer.

DBS bank

Senior citizens who register for FDs up to INR 2 Cr. will pay an additional rate of 50 bps. As of September 3, 2021, older adults who are residents would receive a preferential rate of 50 basis points on FD bookings up to INR 2 Cr

On its website, DBS Bank made reference. The domestic term deposits are the only ones that offer the senior citizen discount rate. For NRO and NRE term deposits, the senior citizen rate is not available, and the special rate will be in effect for tenures of 181 days or more. Upon maturity or withdrawal, the interest earned on your fixed deposit is credited to your account. However, you will receive the current interest rate if you withdraw early DBS Bank was noted on the website.

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