DBS Bank FD Interest Rates

DBS Bank Fixed Deposit Rates

1. For Regular Citizens and Senior Citizens:

   The following are the DBS Bank FD rates w.e.f. 10 July, 2023 for regular and senior citizen accounts: 

   Tenor	Interest Rates (% p.a.)
   	Regular Citizen	Senior Citizen
   7 days	2.50%	2.50%
   8 days & up to 14 days	2.75%	2.75%
   15 days & up to 29 days	4.00%	4.00%
   30 days & up to 45 days	2.75%	2.75%
   46 days & up to 60 days	2.75%	2.75%
   61 days	4.50%	4.50%
   62 days & up to 90 days	3.00%	3.00%
   91 to 180 days	3.00%	3.00%
   181 to 269 days	4.75%	5.25%
   270 to less than 1 year	4.75%	5.25%
   1 year to 375 days	6.25%	6.75%
   376 days to 540 days	7.25%	7.75%
   541 days to 599 days	7.25%	7.75%
   600 days	7.25%	7.75%
   601 days to less than 2 years	7.25%	7.75%
   2 years to less than 2 years 6 months	7.25%	7.75%
   2 years & 6 months	7.25%	7.75%
   2 years 6 months 1 day to less than 3 years	7.50%	8.00%
   3 years and less than 4 years	6.50%	7.00%
   4 years to less than 5 years	6.50%	7.00%
   5 years and above	6.50%	7.00%

   *The FD Rates are subject to change, without any prior notice. Standard T&C Apply

2. NRO Fixed Deposit Interest Rates of Deposits Less Than Rs 2 Crore w.e.f. 10 July 2023:

   Tenure	Interest Rates (% p.a.) for Regular Citizens
   7 days	2.50%
   8 days & up to 14 days	2.75%
   15 days & up to 29 days	4.00%
   30 days & up to 45 days	2.75%
   46 days & up to 60 days	2.75%
   61 days	4.50%
   62 days & up to 90 days	3.00%
   91 to 180 days	3.00%
   181 to 269 days	4.75%
   270 to less than 1 year	4.75%
   1 year to 375 days	6.25%
   376 days to 540 days	7.25%
   541 days to 599 days	7.25%
   600 days	7.25%
   601 days to less than 2 years	7.25%
   2 years to less than 2 years & 6 months	7.25%
   2 years & 6 months	7.25%
   2 years 6 months 1 day & less than 3 years	7.50%
   3 years and less than 4 years	6.50%
   4 years to less than 5 years	6.50%
   5 years and above	6.50%

3. Non-Resident External (NRE) Fixed Deposit Interest Rates of Deposits Less Than Rs 2 Crores w.e.f. 10 July 2023:

   Tenure	Interest Rates (% p.a.)
   1 year to 375 days	6.25%
   376 days to 540 days	6.50%
   541 days to less than 2 years	6.25%
   2 years & less than 2 years 6 months	5.75%
   2 years & 6 months	5.25%
   2 years 6 months 1 day & less than 3 years	5.25%
   3 years and less than 4 years	5.00%
   4 years to less than 5 years	5.00%
   5 years and above	5.00%

   *The FD Rates are subject to change, without any prior notice. Standard T&C Apply

What are the Features and Benefits of DBS Bank Fixed Deposit for NRIs?

• NRE fixed deposits offer the dual advantage of tax exemption in India for both principal and earned interest.

• Enjoy the flexibility to freely repatriate the principal amount along with the accrued interest to your country of residence through your NRE FD account.

• Benefit from competitive interest rates, enhancing the appeal of NRE fixed deposits for NRIs.

• Explore the option to hold the NRE FD jointly, allowing collaboration with more than one non-resident Indian.

• Choose from flexible tenures ranging from one year to 10 years when opening an NRE FD.

• Effortlessly renew your NRE fixed deposit online, ensuring a hassle-free process for account management.

• Assign a nominee to your NRE FD, providing an added layer of security and peace of mind.

• Consider the DBS Treasures Non-Resident Ordinary (NRO) account fixed deposit if you are an NRI with regular income sources in India, such as rental property, fixed deposits, pension, or mutual fund dividends.

• While interest earned on NRO account deposits is taxable under the Income Tax Act of 1961, enjoy the flexibility of transferring the entire interest earned to a foreign currency.

• Open the NRO fixed deposit jointly with either a non-resident or resident Indian citizen, offering versatility in account ownership.

• Earn higher interest rates and returns on rupee income, making the NRO fixed deposit a lucrative option for NRIs.

What are the Documents Required to Open Fixed Deposit Accounts for NRIs?

1. For NRI (Non-Resident Indian)

   • Recent passport-size colour photograph

   • Valid Passport Copy

   • Indian PAN card or Form 60

   • Address proof (overseas and in India) as per Customer Identification Policy

   • Proof of NRI status - Employment/Residence Visa copy or Work/Residence Permit

   • Additionally, for seafarers: Copy of CDC and last page with disembarkation stamp, current work contract and FEMA declaration

2. For PIO (Person of Indian Origin)

   • Passport

   • Recent passport-size colour photograph

   • Valid PIO/OCI card or other proof of PIO status as per Customer Identification Policy

   • Address proof (overseas and in India) as per Customer Identification Policy

   • Duly signed and filled-in PIO declaration

Additional Information for NRI Fixed Deposit

DBS Bank FD Calculator

The DBS FD Calculator is designed to assist NRIs in determining the maturity value of their fixed deposit at DBS Bank. Simply input the investment amount, FD tenure, and interest rate to obtain accurate results.

DBS Bank, recognized as The Development Bank of Singapore Limited, operates as a Wholly Owned Subsidiary (WOS) of DBS Bank Ltd., Singapore. Renowned for its established financial services, DBS Bank offers competitive Fixed Deposit rates ranging from 2.50% to 7.75% per annum, positioning it as a top choice in the FD market for NRIs.

Premature Withdrawal of Fixed Deposits

If the FD account holder decides to withdraw the amount before its tenor, it attracts the following charges:

• The Penalty rate of 1% will be deducted from interest paid.

• The applicable rate will be the lower of two conditions:

  • Interest rate for original/contracted tenor of the deposit

  • Interest rate applicable at the time for the deposit period for which FD remained with the bank.

• 1% pre-closure charges will apply to all FDs booked/renewed on or after 15th April 2019.

Conclusion

DBS Bank stands out with its compelling fixed deposit interest rates, offering customers a variety of deposit tenures and compounding options to optimize returns on their investments. Overall, DBS Bank's FD interest rates provide a reliable and attractive investment option for customers looking to grow their savings.