As per the DBS Bank website, the interest rates for digital savings accounts and digibank e-wallet are given below.
According to the website, “The interest rate as on 25 September 2022 is:
Domestic 3.25% p.a. on balance amount up to Rs. 1 Lac; 3.5% p.a. on balance above Rs. 1 lakh and Rs. 2 lakhs; 4.00% p.a. on balance above Rs. 2 lakh and Rs. 5 lakhs; 3.00% p.a. on balance above Rs. 5 lakh and Rs. 5 crore and 3.75% on balance above Rs. 50 million
Interest shall be paid at quarterly intervals or at such other intervals as may be prescribed by the Bank from time to time. The interest will be determined on the basis of the daily available balance, as required by the regulator, or as a result of the bank’s own choice.
The interest rate on Digital Savings Accounts may vary at the discretion of the Bank and/or as per the Bank’s compliance with the directions of RBI.
if the balance saving account 5 crore is 60 lakh rupees, then savings account interest will be calculated as follows:
