DBS Bank India has grown Rate of interest of Fixed deposit (FD) for an amount less than Rs 2 crore. the bank has increased fixed deposit interest rates Up to 50 basis points (bps) on select periods. According to the press release of DBS Bank, the new interest rates are effective from July 28, 2022.

DBS Fixed Deposit Interest Rates

DBS Bank offers FD tenors starting from 7 days to a maximum of 10 years.

The bank now offers an interest rate of 5.75 per cent, an increase of 10 basis points, for FD tenors ranging from one to 375 days.

The bank now offers 6% interest rate on FDs of less than 2 years for 376 days, an increase of 25 basis points. The bank now offers 6.50 per cent interest on terms of two to three years, with an increase of 50 basis points. The bank will continue to offer 6.25 per cent interest rates for FDs for a tenure of three to ten years.

According to the DBS website, “Simple interest rate will be paid on fixed deposits of less than 6 months. For fixed deposits of 6 months or more, interest will be compounded quarterly.

Senior citizens earn an additional 50 basis points for periods above 6 months. The bank had earlier made the revision on July 15, 2022 in various periods.

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