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DBS FD Interest Rates 2021

DBS FD Interest Rates

Last Updated 09th Jul 2021

When it comes to the FD interest rate, the highest rate offered on DBS Bank FD is 5.50%. Latest DBS Bank FD interest rate for senior citizens, on the other hand ranges between 2.50% to 6.00%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 60 days 2.50% 2.50%
61 days to 90 days 2.50% 2.50%
91 days to 180 days 2.75% 2.50%
181 days to 269 days 3.00% 3.50%
270 days to 364 days 3.50% 4.00%
Earn upto 6.95% on FD APPLY NOW

DBS Fixed Deposit Features

DBS Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of DBS Bank Fixed Deposit are:

  • Deposit Amount : DBS Bank FD can be opened with an amount as a low ₹ 5,000 to up to No Limit.
  • FD Tenure : Ranges between 7 days to 10 years.
  • Interest Rate Range : 2.50% p.a. to 5.50% p.a.
  • Senior Citizens FD Rate : 2.50% p.a to 6.00% p.a.
  • Highest Interest Rate : As per today’s rate, DBS Bank’s highest interest rate on FD is 5.50% offered for a tenure of 10 years.
  • Safety of DBS Bank Deposits : DBS Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : DBS Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Regular Fixed Deposits

DBS Bank FD Interest Rates Today

Interest rates on DBS Bank deposits are updated regularly by the Government of India. The following are updated DBS Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 60 days 2.50%
61 days to 90 days 2.50%
91 days to 180 days 2.75%
181 days to 269 days 3.00%
270 days to 364 days 3.50%
376 days to 1 year 364 days 5.00%
1 year to 375 days 4.25%
2 years to 2 years 5 months 29 days 4.55%
2 years 6 months 4.75%
2 years 6 months 1 day to 2 years 364 days 4.75%
3 years to 3 years 364 days 5.50%
4 years to 4 years 364 days 5.50%
5 years to 10 years 5.50%

DBS Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, DBS Bank offers a higher interest rate to senior citizens than the general public. Listed below are the DBS Bank fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 60 days 2.50%
61 days to 90 days 2.50%
91 days to 180 days 2.50%
181 days to 269 days 3.50%
270 days to 364 days 4.00%
376 days to 1 year 364 days 5.50%
1 year to 375 days 4.25%
2 years to 2 years 5 months 29 days 4.55%
2 years 6 months 4.75%
2 years 6 months 1 day to 2 years 364 days 5.25%
3 years to 3 years 364 days 6.00%
4 years to 4 years 364 days 6.00%
5 years to 10 years 6.00%

Best FD Plan as per DBS Bank FD Rates

To invest in DBS Bank fixed deposit, you must compare DBS Bank Fixed Deposit Rates for varying tenures. DBS Bank FD Interest Rates 2021 are best for the deposits with a tenure of 3 years to 10 years, wherein the current DBS Bank Fixed Deposit Interest Rates is 5.50 p.a.

If you are looking to invest in short term deposits with DBS Bank, the interest rate of DBS Bank for FD ranges from 2.50% p.a. to 3.50% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term DBS Bank Fixed Deposit Rates for senior citizens range from 2.50% to 4.00% p.a.

If you want to invest in long term deposits, DBS Bank Fixed Deposit Rates with tenure ranging from 5 years to 10 years are a good choice with interest rates on deposits at 5.50%.DBS Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of6.00% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in DBS Bank:

  • Interest on deposit is paid only at the time of the maturity
  • DBS Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

Documents required to open Fixed Deposit Account in DBS Bank

  • PAN Card
  • 2 Photographs
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

DBS Bank Fixed Deposit Rates – Premature Withdrawal

You can close your DBS Bank FD account prematurely, however DBS Bank charges a penalty of 1% for deposits above Rs. 15 lakh for premature withdrawal. Also, The penal provisions for premature closure on DBS Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit DBS Bank

DBS Bank offers loans up to 0% against its own deposit. Note that DBS Bank will not give you loan against FD of any other bank. DBS Bank offers Loan against FD at the rate of 3.5% to 6.5%

FD Account Opening Process at DBS Bank

To open an DBS Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of DBS Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the DBS Bank FD after reading the terms and conditions.

To open a Fixed Deposit account in DBS Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the DBS Bank FD after reading the terms and conditions.

Nomination Facility on DBS Bank FD

DBS Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an DBS Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

DBS Bank Fixed Deposit Scheme

Regular Fixed Deposits

Description:

  • Under this scheme, the depositor is allowed to make investment into the deposit to earn attractive and higher returns along with a flexibility and security.
  • Easy investment with attractive returns
  • Nomination facility is available
  • Avail overdraft facility upto 90 per cent against your deposit
  • Interest on deposit is paid only at the time of the maturity

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust, partnership firm

FAQs

What is the highest fixed deposit interest rate for DBS Bank?

You can earn a maximum interest of 5.50% on DBS Bank fixed deposit.

Are there any special rates for senior citizens FD of DBS Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.50% to 5.50%. Compared to this, DBS Bank senior citizens FD are in the range of 2.50% to 6.00%.

What are the current DBS Bank FD interest rates 2021?

Current interest for FD in DBS Bank ranges between 2.50% - 5.50%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with DBS Bank?

The minimum deposit amount required to book an FD with DBS Bank is ₹ 5,000.

Did DBS Bank increase FD rates in 2021?

Presently, DBS Bank offers personal loans at an interest rate starting at 5.50%. There has been no change in personal loan rates of DBS Bank for a long time and continue to stand at 5.50%.

Is it possible to change the tenure of my existing fixed deposit account with DBS Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with DBS Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in DBS Bank?

Yes, you can submit your application for opening an FD account on the website of DBS Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in DBS Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.50%. For DBS Bank FD the number of years in which your FD will get doubled is; 72/5.50 = 13

What is the interest of 1 lakh in the DBS Bank?

The interest on DBS Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the DBS Bank FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 60 days 2.50%
61 days to 90 days 2.50%
91 days to 180 days 2.75%
181 days to 269 days 3.00%
270 days to 364 days 3.50%
376 days to 1 year364 days 5.00%
1 year to 375 days 4.25%
2 years to 2 years 5 months 29 days 4.55%
2 years 6 months 4.75%
2 years 6 months 1 day to 2 years 364 days 4.75%
3 years to 3 years 364 days 5.50%
4 years to 4 years 364 days 5.50%
5 years to 10 years 5.50%


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DBS News - Jul 2021
  • 2019-10-15 : Revised FD rates for DBS Bank
    DBS Bank revised its interest rates on fixed deposits for the month of October. The revised rate for a period of 7 days is 4%, for 8-29 days the rate is 4.25%, the rate for 30-45 days is 4.5% for 46-60 days it is 5%, the rate for 61 days to 90 days is 5.5%, for 91-180 days the rate is 5.75%, for 181-269 days the revised rate is 6.25% and for 270 days to 1 year the rate is 6.5%. For longer tenure of 1 year to 15 months, the rate is 6.75%, and for 15 months one day to less than three years, the rate is 6.25%, and for three years and above, the rate is 6.5%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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