DBS Bank offers its customers with competitive rates on its short term fixed deposit account with assured returns. The short term fixed deposit account allow the investor to maintain a high level of liquidity.
Fixed deposit accounts of 30 days are levied with interest rate of 6% p.a. The interest rates are same for tenures of 60 days.
Whereas, 90 days and 120 days tenures receive uniform interest at the rate of 6.5% p.a. These rates are applied towards fixed deposit accounts with amount lesser than Rs.1 crore.
Based on the rate trajectory it is obvious that the most advantageous tenure in the short term bracket is 90 days with interest rate at 6.5% p.a.
This category of DBS Bank’s fixed deposit accounts allows the investor to earn returns at a high rate of interest while still giving him the freedom of having cash every three months.
The updated list of DBS FD Rates, for Regular and Senior Citizen, is listed below:
|Tenure||Regular FD Rate||Senior Citizen FD Rate|
|Upto Amount||Rs. 1 Crore||Rs. 1 Crore|
|8 days & up to 14 days||4.25||4.25|
|15 days & up to 29 days||4.25||4.25|
|30 days & up to 45 days||4.50||4.50|
|46 days & up to 60 days||5.00||5.00|
|61 days & up to 90 days||5.50||5.50|
|91 days & up to 180 days||5.75||5.75|
|181 days & up to 269 days||6.00||6.00|
|270 days to less than 1 year||6.10||6.10|
|1 year to 15 months||6.30||6.30|
|15 months 1 day upto less than 2 years||6.30||6.30|
|2 years & less than 3 years||6.50||6.50|
|3 years & less than 4 years||6.50||6.50|
|4 years & less than 5 years||6.60||6.60|
|5 years & above||6.70||6.70|
Medium and long term fixed deposit account tenures receive the best returns with DBS Bank. Money making rates of interest makes these fixed deposit account a secured investment option.
Tenures of 6 months are employed with an interest rate of 6.50% p.a. Interest rate of 7% p.a. is applied towards fixed deposit account with medium tenures of 9 months, 7% for 1 year and 7.2% for 1 year 6 months. For tenure 181 days to 180 days DBS offers a special rate of interest at 7% p.a.
Long term fixed deposit accounts of tenures, 2 years, 3 years and 4 years are given decent increase of .1% in the interest at the rate of 7.1%, 7.1% and 7.1% p.a. respectively.
Longer tenures of 5 years receive interest at the rate of 7.2% p.a. The 5 year tenures of fixed deposit account with DBS Bank offers the investor with the maximum possible rate of interest on investment.
It is usually advisable to invest in long term fixed deposit accounts as they receive the most lucrative rate of interest.
Senior Citizen accrue interest on their fixed deposit accounts at the same rate as everyone else.