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DBS Fixed Deposit Interest Rates 2024
Fixed Deposit, commonly known as FD, is one of the best savings options for risk-averse looking for attractive returns. Development Bank of Singapore (DBS) bank offers various fixed deposit options so that the customers can pick the best as per their saving requirements.
DBS Fixed Deposit offers interest rate ranging from '2.50% to 7.50% p.a.' with a tenure of 7 days to 5 years and above. The DBS online service also offers the freedom of liquidity with a Range of tenures coupled with assured returns on fixed deposits.
DBS FD Interest Rate
The rates of interest applied on the DBS Fixed Deposit schemes are given in the below table.
| Period | Regular | 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 | 4.50% | 4.50% |
| 46 days & up to 60 days | 4.50% | 4.50% |
| 61 days | 5.00% | 5.00% |
| 62 days & up to 90 days | 5.00% | 5.00% |
| 91 to 180 days | 5.00% | 5.00% |
| 181 to 269 days | 6.00% | 6.50% |
| 270 to less than 1 year | 6.00% | 6.50% |
| 1 year to 375 days | 7.00% | 7.50% |
| 376 days to 540 days | 7.50% | 8.00% |
| 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 | 7.00% | 7.50% |
| 2 years & 6 months | 7.00% | 7.50% |
| 2 years 6 months 1 day & less than 3 years | 7.00% | 7.50% |
| 3 years & less than 4 years | 6.50% | 7.00% |
| 4 years to less than 5 years | 6.50% | 7.00% |
| 5 years & above | 6.50% | 7.00% |
Note: Simple interest rate will be paid on a fixed deposit below 6 months. For 6 months or above, interest will be compounded quarterly.
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DSB NRO Fixed Deposit
| Period | Interest Rates |
|---|---|
| 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 | 4.50% |
| 46 days & up to 60 days | 4.50% |
| 61 days | 5.00% |
| 62 days & up to 90 days | 5.00% |
| 91 to 180 days | 5.00% |
| 181 to 269 days | 6.00% |
| 270 to less than 1 year | 6.00% |
| 1 year to 375 days | 7.00% |
| 376 days to 540 days | 7.50% |
| 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 | 7.00% |
| 2 years & 6 months | 7.00% |
| 2 years 6 months 1 day & less than 3 years | 7.00% |
| 3 years & less than 4 years | 6.50% |
| 4 years to less than 5 years | 6.50% |
| 5 years & above | 6.50% |
Note: Simple Interest rate will be paid on fixed deposits below 6 months. For fixed deposits of 6 months or above, interest will be compounded quarterly.
DBS NRE Fixed Deposits Rates
w.e.f. 18th November, 2022
| Tenure | Less than Rs. 2 Crore |
|---|---|
| 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% |
Note: For interest rates on FDs of Rs. 2 Crore and above, please contact your Relationship Manager or nearest branch.
Types of DBS Fixed Deposit
DBS Bank offers two types of fixed deposit - DBS Bank Fixed Deposit and DBS Bank Flexi Fixed Deposit. Let’s understand the features of these deposits-
1.DBS Bank Fixed Deposit
DBS Bank FD will act as a contingency fund that is able to tackle emergencies and unforeseen circumstances. The bank offers risk-free deposits, which remain safe and unaffected by volatile markets. The features of the DBS FD are as follows:
- A minimum amount to start with an FD is Rs. 10,000
- FD offers higher returns on the deposit of Rs. 2 crores and above
- The duration of the FD ranges from 7 days to 5+ years
- Interest is paid to the depositor on a monthly or quarterly Basis
2. DBS Bank Flexi Fixed Deposit
The Flexi FD has a higher interest rate as compared to normal FDs. You can choose a tenure as per your requirements. Bank premature withdrawal gives you more flexibility to access your funds. The features of the DBS Flexi Fixed Deposit are as follows:
You can start the account with Rs. 10000 and save in multiples of Rs. 1000 up to a maximum of Rs. 14,99,999 for a period of 364 days
The balance thresholds for different types of Savings Account linked to your fixed deposit are as follows:
- savings plus- Rs. 50,000
- Savings Power Plus- Rs. 2,00,000
- Treasures Savings- Rs. 5,00,000
Benefits of DBS Fixed Deposit
DBS FD accounts offer various benefits in order to make savings habit easy for you-
- The overdraft Facility is available for the residential customers up to 80% of the deposited amount
- A minimum amount is required for DBS FD is Rs. 10,000
- DBS FD tenure ranging from 7 days to 5 years or above
- The fixed deposit has a tenure of 6 months or more are compounded
- Multiple interest payout options are available- monthly, quarterly and re-investment
Eligibility Criteria to Open FD
The eligibility criteria for opening the DBS fixed deposit are as follows:
- Individuals (Single or Jointly)
- Minors (Under the legally appointed guardian)
- HUF (hindu undivided family)
- Entities
Liquid Funds - An Alternative to Bank Savings Account
- With liquid Mutual Funds one gets the flexibility to invest or withdraw whenever one wants to without any penalty or exit load.
- When investing in Mutual Funds, some fund houses also offer ATM card to withdraw money. This further adds on to your convenience.
- Some of the Best Liquid Funds offer much better interest rate than that of savings account.
Based on certain parameters, we can figure out the difference between Liquid Funds and savings account. Let’s figure out those parameters.
| Factors | Liquid Funds | Savings Account |
|---|---|---|
| Rate of Return | 7-8% | 4% |
| Tax Implications | Short-term Capital gains tax is levied based on investors' applicable income tax slab Tax Rate | Interest rate earned are taxable as per investors' applicable Income tax slab |
| Ease of Operation | No need to go to a bank to get cash. If there is same amount that needs to be paid, it can be done online | Money gets deposited to the bank account first |
| Suitable for | Who want to invest their surplus to earn higher return than saving account | Who want to just park their surplus amount |
Best Liquid Funds 2024
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) Principal Cash Management Fund Growth ₹2,120.66
↑ 0.45 ₹5,413 0.7 1.9 3.7 7.2 5.4 5 7 PGIM India Insta Cash Fund Growth ₹312.763
↑ 0.06 ₹376 0.7 1.9 3.7 7.2 5.5 5.2 7 JM Liquid Fund Growth ₹65.6248
↑ 0.01 ₹1,628 0.7 1.8 3.7 7.2 5.5 5.1 7 Indiabulls Liquid Fund Growth ₹2,322.87
↑ 0.49 ₹191 0.7 1.9 3.7 7.2 5.2 5 6.8 Axis Liquid Fund Growth ₹2,674.28
↑ 0.56 ₹33,841 0.7 1.9 3.7 7.3 5.5 5.2 7.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 16 Apr 24
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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