DBS Bank India announced an increase in Savings Account (SA) interest rates and Fixed Deposit (FD) rates across tenors, effective February 1st and February 23rd, 2023, respectively.
The bank offers a 7% annual interest rate on savings account balances exceeding Rs 3 lakh and up to Rs 5 lakh. Customers can also earn great interest rates on fixed deposits, with 7.50% annual interest and 8% annual interest for senior citizens on deposits from 30 to 36 months. DBS Bank India uses a high-interest approach to provide best-in-class interest rates on fixed deposits and savings accounts, allowing customers to grow their money.
| Saving account interest per annum | |
| Up to Rs 1 lakh | 3.25% |
| Above Rs 1 lakh and up to Rs.2 Lakhs | 3.50% |
| Above Rs.2 Lakhs and up to Rs.3 Lakhs | 4.25% |
| Above Rs.3 Lakhs and up to Rs.5 Lakhs | 7.00% |
| Above Rs 5 lakhs and up to Rs.10 lakhs | 6.00% |
| Above Rs 10 lakhs and up to Rs.20 lakhs | 5.50% |
| Above Rs 20 lakhs and up to Rs.1 Cr | 5.00% |
| Above Rs.1 Cr | 3.00% |
| Above Rs.1Cr and up to Rs.5 Cr | 3.00% |
The fixed deposit interest rates are as follows:
| Tenor | Regular | Senior citizen | Regular | Senior citizen | Increase in basis points |
| (Previous Rate) | (Previous Rate) | (Updated rate w.e.f. 23 February 2023) | (Updated rate w.e.f. 23 February 2023) | ||
| 7 days | 2.50% | 2.50% | 2.50% | 2.50% | NA |
| 8 days & up to 14 days | 2.75% | 2.75% | 2.75% | 2.75% | NA |
| 15 days & up to 29 days | 2.75% | 2.75% | 2.75% | 2.75% | NA |
| 30 days & up to 45 days | 2.75% | 2.75% | 2.75% | 2.75% | NA |
| 46 days & up to 60 days | 2.75% | 2.75% | 2.75% | 2.75% | NA |
| 61 days | 3.25% | 3.25% | 3.25% | 3.25% | NA |
| 62 days & up to 90 days | 3.00% | 3.00% | 3.00% | 3.00% | NA |
| 91 to 180 days | 3.00% | 3.00% | 3.00% | 3.00% | NA |
| 181 to 269 days | 4.75% | 5.25% | 4.75% | 5.25% | NA |
| 270 to less than 1 year | 4.75% | 5.25% | 4.75% | 5.25% | NA |
| 1 year to 375 days | 6.25% | 6.75% | 6.25% | 6.75% | NA |
| 376 days to 540 days | 7.25% | 7.75% | 7.25% | 7.75% | NA |
| 541 days to 599 days | 7.25% | 7.75% | 7.25% | 7.75% | NA |
| 600 days | 7.25% | 7.75% | 7.25% | 7.75% | NA |
| 601 days to less than 2 years | 6.50% | 7.00% | 7.25% | 7.75% | 75 bps |
| 2 years & less than 2 years 6 months | 6.50% | 7.00% | 7.25% | 7.75% | 75 bps |
| 2 years & 6 months | 6.50% | 7.00% | 7.25% | 7.75% | 75 bps |
| 2 years 6 months 1 day & less than 3 years | 6.50% | 7.00% | 7.50% | 8.00% | 100 bps |
| 3 years and less than 4 years | 6.50% | 7.00% | 6.50% | 7.00% | NA |
| 4 years to less than 5 years | 6.50% | 7.00% | 6.50% | 7.00% | NA |
| 5 years and above | 6.50% | 7.00% | 6.50% | 7.00% | NA |
Customers can earn great interest rates using DBS Bank India’s digibank app in a seamless and hassle-free manner. The bank is committed to providing its customers with new products and solutions developed in collaboration with market leaders.
DBS Bank India and Bajaj Finance Limited cooperated in 2022 to create the ‘Bajaj Finserv DBS Bank SuperCard,’ a Visa-powered credit card aimed to declutter users’ wallets and eliminate the need for numerous credit cards. DBS Treasures, the bank’s premium banking and wealth management concept, provides an array of investment options (mutual funds, portfolio management services, alternate funds, etc.), insurance, NRI banking, FX, and asset solutions, among other things.
