DBS bank offers you the option of opening a RD account with them. The rate of interest offered by the bank is in the range of 6.5% to 7% p.a. DBS bank offered general and senior citizens the same interest rates for depositing money in an RD account. An RD account can be opened with DBS bank for a minimum monthly instalment of Rs.1,000. The tenures offered by the bank ranged from 6 months to 5 years.
Listed below are the interest rates offered by the bank on recurring deposits:
|Deposit tenure||Interest rate for General citizens (p.a.)||Interest rate for Senior Citizens (p.a.)|
|181 days to 269 days||6.50%||6.50%|
|270 days to less than 12 months||6.75%||6.75%|
|12 months to 15 months||7.50%||7.50%|
|15 months 1 day to less than 24 months||7%||7%|
|24 months to less than 30 months||7%||7%|
|30 months 1 day to less than 36 months||7%||7%|
|36 months to less than 48 months||7%||7%|
|48 months to less than 60 months||7%||7%|
DBS Bank Short-Term Recurring Deposit Interest Rates
Short-term recurring deposits are those which have a tenure that ranges from 181 days to 15 months. General citizens are offered the highest interest of 7.50% p.a. when it comes to short-term deposits. Citizens above the age of 60 years are offered the same interest rates as general citizens. It ranges from 6.50% to 7.50% p.a.
DBS Bank Medium Term Recurring Deposit Interest Rates
Tenures which range from 15 months 1 day to less than 36 months fall under the bracket of medium-term RDs. The rate of return offered by DBS bank on medium-term RDs is 7% p.a. for both general and senior citizens.
DBS Bank Long Term Recurring Deposit Interest Rates
Deposits made for a tenure that is above 36 months falls under long-term recurring deposits. Under long-term RDs, the maximum tenure you can opt for opening an RD account with DBS bank is 5 years. The interest offered by the bank for such tenures is 7% p.a.
More you need to know about Recurring Deposit
- Compare Recurring Deposit Interest Rates of DBS Bank with Other Banks and Institutions
- Check Features and Schemes of DBS Bank Recurring Deposit