interest rate on fixed deposits under 2 crore has been revised thanks to DBS Bank. As per the official website of the lender, the updated interest rates are effective from November 18, 2022. After the change, the bank is currently offering interest rates on fixed deposits of 7 days to 5 years or more which ranges from 2.50% to 6.50% for general public and 2.50% to 7.00% for senior citizens. The maximum standard interest rate of 7.25% and 7.75% for senior citizens will now be applicable on deposits maturing in 600 days. As a result of the change, DigiBank by DBS now offers the Fixed Deposit interest rates shown below.
DBS Bank FD Rates
On FDs maturing in 7 days, the bank offers an interest rate of 2.50% and on maturities between 8 days and up to 60 days, DBS Bank offers an interest rate of 2.75%. DBS Bank is now offering an interest rate of 3.00% on FDs maturing in 61 days and up to 180 days and 4.75% on FDs maturing in 181 days to less than 1 year. Deposits maturing in 1 year to 375 days will now fetch an interest rate of 6.25% and deposits maturing in 376 days to 599 days will now fetch an interest rate of 6.50%. On FDs maturing in 600 days, the bank will now offer an interest rate of 7.25% and on maturities ranging from 601 days to 5 years and above, DBS Bank is now promising an interest rate of 6.50%.
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Residents who are senior citizens will get the benefit of an additional rate of 50 bps on FD registrations up to Rs 2 crore. DBS Bank mentioned on its website, “From 3rd September 2021, FD booking
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