6.5%
Interest for 3 years
Tenure | Normal Citizen FD Rate | Senior Citizen FD Rate |
---|---|---|
7 days - 7 days | 2.5% | 2.5% |
8 days - 2 months 1 day | 2.75% | 2.75% |
2 months 2 days - 2 months 2 days | 3.25% | 3.25% |
2 months 3 days - 5 months 30 days | 3% | 3% |
6 months - 11 months 30 days | 4.75% | 5.25% |
1 year - 1 year 10 days | 6.25% | 6.75% |
1 year 11 days - 1 year 7 months 22 days | 7.25% | 7.75% |
1 year 7 months 23 days - 9 years 11 months 28 days | 6.5% | 7% |
Note: All interest rates shown below are as on 2nd Feb 2023
DBS Bank India Limited (‘the Bank’), operates in India as a Wholly Owned Subsidiary (“WOS”) of DBS Bank Ltd., Singapore, a banking entity incorporated in Singapore with limited liability. The bank has a balance sheet size of Rs. 62,864 Crs as on 31st March 2020. The bank recorded a profit of Rs 111 Crs in FY20
2.5% - 7.25%
FD Rate
2.5% - 7.75%
FD Rate for Seniors
₹ 5000
Minimum Deposit
₹ 2 Crores
Maximum Deposit
-
Lock-in
-
FD Tenure
-
Loan against FD
CRISIL Rating
Investment Amount | For 3 years with interest of 6.5% | For 5 years with interest of 6.5% |
---|---|---|
₹ 50,000 | ₹ 60,734 | ₹ 69,141 |
₹ 1 lakh | ₹ 121,467 | ₹ 138,282 |
₹ 2 lakh | ₹ 242,934 | ₹ 276,563 |
₹ 5 lakh | ₹ 607,336 | ₹ 691,409 |
₹ 10 lakh | ₹ 1,214,672 | ₹ 1,382,817 |
Use FD calculator to change values and compare your returns from top banks.
Maturity Amount | ₹ 106,432 | ₹ 108,149 |
Total Investment Amount | ₹ 100,000 | ₹ 100,000 |
Total Interest Gained | ₹6,432 | ₹ 8,149 |
Bank Name | FD Interest Rates |
---|---|
7.86% - 8.36% | |
7.25% - 7.75% | |
5.5% - 6% | |
6.1% - 6.6% | |
7.5% - 7.75% | |
7% - 7.5% | |
6.25% - 6.25% | |
5.6% - 5.6% | |
5.5% - 5.75% | |
7.5% - 7.75% |
₹ 100,000
Total Investment
6,432
Wealth Gained
₹ 106,432
Maturity Amount
The flexible & tax efficient alternative to FDs.
DBS Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on DBS Bank FDs is higher than their savings account. One can invest in DBS FDs through both online (digibank) and offline modes with a minimum investment of INR 5,000. This article covers DBS Bank FD, its features and interest rates in detail.
Regular Fixed Deposit
This scheme is the only FD scheme offered by DBS Bank. Following are the features of this scheme:
One can open a DBS Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a DBS Bank FD account through internet banking:
The following steps will guide in opening an FD account through Digibank Mobile App:
To open a DBS Bank FD account offline, one has to visit the nearest DBS Bank branch. Fill the DBS Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, DBS Bank will provide an FD receipt.
To open a DBS Bank fixed deposit scheme, one would need the following documents:
Resident Indians, partnership firms, private or public limited companies, Hindu Undivided Family, and trusts are eligible to open an FD account with DBS Bank.
DBS Bank offers recurring deposits to its depositors. DBS Bank recurring deposits have a minimum tenure of 90 days and a maximum tenure of 10 years. Depositors can open an RD account either by going to the DBS Bank branch or online using internet banking. The minimum investment in DBS Bank RD is INR 500. The interest rate on DBS RDs is in the range of 2.75% to 5.5% for regular citizens and senior citizens.
Investment in DBS Bank FDs doesn’t qualify for tax saving under Section 80C of the Income Tax Act. The interest income from DBS Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from DBS Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the DBS Bank, then the TDS rate will be 20%.
To know in how many years DBS Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years DBS Bank FD will double. For example, for a five years tenure, the FD interest rate is 5.5%. An investor can double the investment amount by investing for this tenure in DBS Bank FD in 13.09 years (72/5.5).
DBS Bank FD rates range between 2.75% and 5.5% for regular citizens and senior citizens. DBS Bank pays interest at maturity or upon withdrawal.
DBS Bank guarantees returns in the form of interest on their FDs. Moreover, the Deposit Insurance Scheme of RBI covers all DBS Bank deposits. Also, the scheme covers all DBS Bank deposits up to INR 5,00,000. Hence DBS Bank FDs are safe for investment.
The minimum investment in DBS Bank FD is INR 5,000. However, there is no limit on the maximum amount of investment in DBS Bank FD.
Yes, investors can open a DBS Bank FD account online through their internet banking facility called Digibank.
The highest FD rate for DBS Bank is 5.5% for a tenure of 5 years and above for both regular citizens and senior citizens.
Resident Indians, partnership firms, private or public limited companies, Hindu Undivided Family, and trusts are eligible to open an FD account with DBS Bank.