DBS Bank hikes fixed deposit interest rates

DBS Bank India has increased interest rates of fixed deposits (FD) for amounts less than Rs 2 crore. The bank has hiked fixed deposit interest rates by up to 50 basis points (bps) on select tenors. The new interest rates are effective from July 28, 2022, according to a DBS Bank press release.

DBS fixed deposit interest rates


DBS Bank offers FD tenures starting from 7 days and going up to a maximum of 10 years.


The bank now offers an interest rate of 5.75 percent for one to 375 days FD tenure, a hike of 10 basis points.

The bank now offers 6% interest rate for 376 days to less than 2 year FD, a 25 basis point increase. The bank now provides 6.50 percent interest on terms of two to three years, a 50 basis point increase. The bank will continue to offer 6.25 percent interest rates for FDs with terms ranging from three to ten years.

dbs-july28

According to the DBS website, “Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.”


Senior citizens earn an additional 50 basis points for tenors above 6 months. The bank had previously revised on July 15, 2022, on various tenors.

NRE revised fixed deposit rates

DBS-NRE-FD


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