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DBS Bank Fixed Deposit

DBS Bank Fixed Deposit

Private 
Shield CheckDICGC

7%

Interest for 3 years

DBS Bank FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 7 days2.5%2.5%
8 days - 14 days2.75%2.75%
15 days - 29 days4%4%
30 days - 1 month 29 days4.5%4.5%
1 month 30 days - 5 months 29 days5%5%
5 months 30 days - 11 months 29 days6%6.5%
1 year - 1 year 10 days7%7.5%
1 year 11 days - 1 year 5 months 24 days7.5%8%
1 year 5 months 25 days - 1 year 11 months 29 days7.25%7.75%
2 years - 3 years7%7.5%
3 years 1 day - 9 years 11 months 28 days6.5%7%

Note: All interest rates shown above are as on 7th Oct 2024

About DBS Bank FD

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

DBS Bank FD

2.5% - 7.5%

FD Rate

2.5% - 8%

FD Rate for Seniors

₹ 5000

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

CRISIL Rating

DBS Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 7%For 5 years with interest of 6.5%
₹ 50,000₹ 61,646₹ 69,141
₹ 1 lakh₹ 1,23,293₹ 1,38,282
₹ 2 lakh₹ 2,46,585₹ 2,76,563
₹ 5 lakh₹ 6,16,463₹ 6,91,409
₹ 10 lakh₹ 12,32,926₹ 13,82,817

Compare DBS Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
DBS Bank FD
DBS Bank FD
Maturity Amount 1,07,229 1,09,381
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained7,229 9,381

Compare DBS Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
north-east-small-finance-bank.png
North East Small Finance Bank FD
9% - 9.5%
dakshin-bihar-gramin-bank.png
Dakshin Bihar Gramin Bank FD
7% - 7%
idfc-first-bank.png
IDFC First Bank FD
7% - 7.5%
rbl-bank.png
RBL Bank FD
7.5% - 8%
suryoday-small-finance-bank.png
Suryoday Small Finance Bank FD
8.6% - 9.1%
utkal-grameen-bank.png
Utkal Grameen Bank FD
6.8% - 7.3%
post-office.png
Post Office FD
7.1% - 7.1%
pnbhfl.png
PNB HFL FD
7.75% - 8.05%
saptagiri-grameena-bank.png
Saptagiri Grameena Bank FD
7.5% - 8%
indian-bank.png
Indian Bank FD
6.25% - 6.75%

Calculate DBS Bank FD Returns

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1,00,000

Total Investment

7,229

Wealth Gained

1,07,229

Maturity Amount

Explore Debt Funds, instead!

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.

DBS Bank Fixed deposit schemes

Regular Fixed Deposit

Regular Fixed Deposit

This scheme is the only FD scheme offered by DBS Bank. Following are the features of this scheme:

  • Tenure: 90 days to 10 years
  • Interest Payout: Interest is paid at maturity
  • Nomination Facility: Available
  • Loan Facility: Available
  • Eligibility: Resident Indians, partnership firms, private or public limited companies, Hindu Undivided Family, and trusts

Key Features of DBS Bank Fixed Deposit Schemes

  • Tenure: The tenure of a DBS Bank FD ranges from ninety days to ten years. One cannot change the tenure of their DBS Bank FD once it has commenced.
  • Minimum and maximum 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.
  • DBS Bank FD rates: DBS Bank FD rates range between 2.5% and 7.5% for regular citizens and for senior citizens 2.5% and 8.0%. DBS Bank pays interest at maturity or upon withdrawal.
  • Premature withdrawal: All DBS Bank FDs can be withdrawn prematurely. For all deposits above INR 15 lakhs, the DBS bank charges 1% if withdrawn prematurely.
  • Loan against FD: DBS Bank offers loans against their FDs. Investors can get up to 80% of the deposit amount as a loan against their DBS Bank FD investment. Also, the interest rate on loan will depend on DBS Bank norms.
  • Nomination: DBS Bank FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal facility: DBS Bank offers an auto-renewal facility on their FDs.
  • Safety: The Deposit Insurance Scheme of RBI covers all DBS Bank deposits. The scheme covers all DBS Bank deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in a DBS Bank FD once it has commenced. However, they can open a fresh DBS Bank FD with the new amount.

How to open a DBS Bank FD deposit account?

One can open a DBS Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open a DBS Bank FD account through internet banking:

  • Login to the DBS Bank digibank ibanking website.
  • Click on ‘Deposits’ in the navigation menu.
  • Then select ‘Open New Deposit’ to start investing in DBS FD.

Through Mobile App

Digibank Mobile App

The following steps will guide in opening an FD account through Digibank Mobile App:

  • Download the Digibank Mobile App on your mobile.
  • Login to your Digibank account and tap on ‘Deposits’ in the navigation menu.
  • Under Deposits, select ‘Fixed Deposits’
  • Then follow instructions to begin investing.

Offline TMB Bank FD Opening

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.

Documents required to Open a DBS Bank FD

To open a DBS Bank fixed deposit scheme, one would need the following documents:

  • DBS Bank FD application form
  • Passport size photographs
  • Government ID proof (PAN Card, Passport, Aadhar Card, Voter ID, and Driving License)
  • Address proof (Aadhar Card, Utility bills, and Passport)

Eligibility to Open a DBS Bank FD

Resident Indians, partnership firms, private or public limited companies, Hindu Undivided Family, and trusts are eligible to open an FD account with DBS Bank.

Does DBS Bank offer Recurring Deposits?

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.

Is FD interest taxable?

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%.

Explore Fixed Deposits By Banks

Frequently Asked Questions

What is the highest DBS Bank FD rate today?

The highest DBS Bank FD rates for general citizens is 7.5% p.a. and 8% p.a. for senior citizens.

What is the highest interest rate on DBS Bank 1 year FD scheme?

The highest interest rate on DBS Bank 1 year FD scheme is 7% p.a.

What is DBS Bank FD scheme interest rate for 5 years?

6.5% p.a is the interest rate for 5 years on DBS Bank FD scheme.

How many years FD will double in DBS Bank?

To know in how many years DBS Bank 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 Bank FD will double. The current highest DBS Bank FD interest rate is 7.5% so investors will double the investment in 9.60 years. Similarly, senior citizen depositors will double their FD investment in 9.00 years, where the highest FD rate for senior citizens is 8%.

What is DBS Bank FD minimum deposit amount?

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.

What is senior citizen fixed deposit interest rates in DBS Bank?

The senior citizen fixed deposit interest rates in DBS Bank range between 2.5% to 8% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in DBS Bank?

DBS Bank FD tenure ranges from 7 days to 9 years 11 months 28 days

What is DBS Bank FD ROI for 10 lakh deposit for 1 year?

The interest from the DBS Bank FD calculator for 10 lakh deposit for 1 year will be INR 72,290. The maturity value will be INR 10,72,290. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.

How to check the fixed deposit balance in DBS Bank?

You can check DBS Bank FD balance either online or offline mode. For online mode, log in to the DBS Bank internet banking portal. Alternatively, you can visit the nearest DBS Bank bank to update your passbook for FD balance enquiry.

How many FDs can be opened in DBS Bank?

There is no restriction on the number of FDs you can open with DBS Bank.