DBS Bank FD Rates

DBS Bank FD Interest Rates (p.a.) Highlights 2023
Highest slab rate	7.50% (for 2 years 6 months 1 day to less than 3 years)
For 1 year	6.25%
For 2 years	7.25%
For 3 years	6.50%
For 4 years	6.50%
For 5 years	6.50%

The interest rates are updated as of 25 September 2023

DBS Fixed Deposit Interest Rate 2023

DBS Bank FD Interest Rates for Domestic Deposits & NRO of less than Rs 2 crore w.e.f. 10 July 2023

Tenure	Interest Rates (% p.a.)
	Regular Citizens	Senior Citizens
7 days	2.50	2.50
8 days to 14 days	2.75	2.75
15 days to 29 days	4.00	4.00
30 days to 45 days	2.75	2.75
46 days to 60 days	2.75	2.75
61 days	4.50	4.50
62 days to 90 days	3.00	3.00
91 days to 180 days	3.00	3.00
181 days to 269 days	4.75	5.25
270 days 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 & less than 4 years	6.50	7.00
4 years & less than 5 years	6.50	7.00
5 years & above	6.50	7.00

Note: 1. The senior citizen preferential rates (50bps) are applicable for a tenure of 181 days and above.

2. Additional senior citizen rates are not applicable to NRO term deposits

Non-Resident External (NRE) Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 10 July 2023

Tenure	Interest Rates (% p.a.)
1 year to 375 days	6.25
376 days to 540 days	7.25
541 days to less than 2 years	7.25
2 years to less than 2 years 6 months	7.25
2 years and 6 months	7.25
2 years 6 months 1 day and less than 3 years	7.50
3 years and less than 4 years	6.50
4 years and less than 5 years	6.50
5 years and above	6.50

Types of DBS Bank FD Scheme

Regular Fixed Deposits (With Reinvestment of Interest Component)

• Minimum deposit amount: Rs 10,000
• Tenure: 7 days to 5 years and above
• This scheme allows reinvestment of the interest component to the deposit amount
• Additional 0.50% interest rates are offered to senior citizens on deposits of less than Rs 2 crore for a tenure of 181 days and above
• Simple interest rate will be paid on deposits below 6 months.
• For FDs of tenure 6 months or above, interest will be compounded quarterly
• Depositors can opt for monthly (at a discounted rate) or quarterly payout option

Flexi Deposit

• Minimum deposit amount – Rs 10,000
• Depositor can save in multiples of Rs 1,000 up to a maximum of less than Rs 15 lakhs for a period of 364 days
• The FD is liquidated in multiples of Rs 1 and the balance continues to earn interest at the initial contracted rate
• The last FD created is broken first in case multiple FDs are linked to the savings account, to ensure maximum returns
• Balance thresholds required to be maintained for different types of savings accounts linked to Fixed Deposit are as follows:
  • Savings Plus: Rs 50,000
  • Savings Power Plus: Rs 2 lakh
  • Treasures Savings: Rs 5 lakh

NRO Fixed Deposits

• Eligibility: Non-Resident Indian (NRI) and Person of Indian Origin (PIO)
• Fixed deposit can be opened jointly with a non-resident or resident Indian citizen
• Simple interest rate will be paid on deposits below 6 months.
• For FDs of tenure 6 months or above, interest will be compounded quarterly
• While the principle is not fully repatriable, the entire interest earned on the deposit can be transferred to a foreign currency
• Auto-renewal and nomination facilities are available
• Depositors need to maintain account for at least 7 days to earn interest on it

NRE Fixed Deposits

• Deposits can be held jointly with more than one non-resident Indian
• Tenure: 1 year to 10 years
• The principal amount and interest earned are freely and fully repatriable
• NRE fixed deposit can be renewed online in a hassle-free manner
• Depositors need to maintain FDs for at least 12 consecutive months to be eligible for interest payments
• Nomination facility is available

FCNR Deposits

• Depositors can hold currencies in US Dollars (USD), Pound Sterling (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), Singapore dollar (SGD) and Hong Kong dollar (HKD)
• Tenure: 1 year to 5 years
• No minimum deposit is required to be maintained
• Internet banking facility allows depositors to have 24-hour access to their account with fully secure and quick transactions
• Mobile banking facility is available
• No interest will be paid if deposits are prematurely withdrawn before the expiry of 1 year from the date of FD or its renewal

Premature Withdrawal of Fixed Deposits

• Interest will be paid after deducting the penal rate of 1% from the applicable rate. The applicable rate would be the lower of the following two conditions:
  • The interest rate for the original/contracted tenor of the deposit
  • The interest rate which was applicable at the time for the period of deposit for which the FD remained with the bank
• Pre-closure charges of 1% will be applicable on all FDs booked/renewed on or after 15th April 2019

Useful Article: All you need to know Flexi Fixed Deposit

FD Calculator

This is an online tool that helps the depositors calculate how much interest they can earn by investing in a particular DBS Bank fixed deposit scheme. By providing some basic yet essential information, such as duration of the deposit, the principal amount, etc. one can easily estimate the return value with the scheme.

In case of any other information, one can visit the nearest DBS Bank branch or call their officials for assistance at 1800-209-4555.