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DBS Savings Account Interest Rates

DBS Savings Account Interest 2020-21

Last Updated 08th Jul 2020

Saving Account Interest Rate
Savings Premium Plus 3.50% - 5.00%
Auto Saver 3.50% - 5.00%
Digi Account 3.50% - 5.00%

DBS Bank Savings Accounts Interest Rate

DBS Bank offers an interest rate ranging between 3.50% to 5.00% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With DBS Bank Savings Account youth and minors can get additional benefits on their Savings Account.

Features

DBS Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on DBS Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of DBS Bank savings account are:

  • It offers interest rates from 3.50% to 5.00% p.a. You can easily access DBS Bank Savings Account anywhere through a large network of branches and ATMs.
  • If you want to transfer funds from DBS Bank Savings account to any other bank account, you can do it through modes such as RTGS, IMPS, NEFT and UPI facilities.
  • To maintain DBS Bank Savings account, you require a minimum balance of Nil.
  • DBS Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with DBS Bank Savings Account.
  • With Auto Sweep Facility of DBS Bank, your account can be linked to Multi Option Deposit MOD account.

DBS Savings Account Rates

Saving Account Interest Rate Minimum Balance
Savings Premium Plus 3.50% - 5.00% Overall total relationship balance of Rs. 20,00,000 in a combination of savings account balances, fixed deposits, investments and insurance
Auto Saver 3.50% - 5.00% Nil
Digi Account 3.50% - 5.00% Nil

DBS Savings Account Products

  • Savings Premium Plus: DBS Bank offers interest rates ranging between 3.50% to 5.00% on Savings Premium Plus.You can open a Savings Premium Plus in DBS Bank by depositing Overall total relationship balance of Rs. 20,00,000 in a combination of savings account balances, fixed deposits, investments and insurance amount as minimum balance.
  • Auto Saver: If you have deposited your excess funds in a Auto Saver, you can get interest at 3.50% to 5.00% on your account. This account can be opened by anyone with a minimum age of 18 years.
  • Digi Account: DBS Bank provides interest rates ranging between 3.50% to 5.00% on Digi Account. The minimum balance requirement to open this account is Nil.

FAQs

How much interest is charged by DBS on Savings Account?

DBS offers an interest rate of 3.50% to 5.00% on Savings Account.

What is the minimum amount required for opening Savings Account in DBS Bank?

The minimum amount required for opening Savings Account in DBS is Nil.

What are the balance non - maintenance Charges on DBS Savings Account?

The Balance Non Maintenance Charges on Savings Account by DBS are NIL charges.

What are the DBS Bank ATM Transaction charges on Savings Account?

DBS ATM Transaction charges on Savings Account are Free.

How does DBS calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by DBS Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does DBS Bank offer Debit Card to the account holder?

Yes, various Debit Cards are offered, differing according to the product. Some of the popular savings account products of DBS Bank with the type of Debit Card offered are listed in the table below.

Savings Premium PlusInternational VISA Infinite Debit Card
Digi AccountVISA International Debit Card

Interest rate on all DBS Bank deposits products listed in the table above is 3.50% to 5.00%.

What is the withdrawal limit of the account?

The withdrawal limit offered in DBS Bank is Unlimited

What is the eligibility criteria to open a savings account in DBS Bank?

Eligibility criteria for DBS Bank savings account -

  • KYC via biometric authentication post registration
  • Valid Aadhaar number and Permanent Account Number (PAN)

DBS News - Jul 2020
  • 2017-12-06 : DBS introduces mutual funds on its digibank app
    DBS Bank will now offer its digibank customers a unique way to invest in mutual funds with a complete signature less and paperless on boarding on its mobile app. With this service, customer can make paperless on boarding, tracking and redemption in mutual funds within few minutes. The aim is to provide instant investment online service to its customers without having to depend on traditional channels.
  • 2017-09-04 : DBS Bank launches Digibank in Indonesia
    Singapore based DBS Bank has unveiled its Digibank a mobile led bank in Indonesia. The initiative will enable the bank customers to enjoy attractive rate of interest while registering for new accounts at DBS along with the higher ease of fund transfer and more flexibility with deposits.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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