The process to open a Recurring Deposit (RD) with DBS Bank is very simple. The rate of interest offered by the bank ranges between 6.25% and 6.5% p.a. DBS Bank offers the same interest rates for general and senior citizens. The minimum amount that must be deposited to open an RD account is Rs.1,000. The tenure of the account ranges between 6 months and 5 years.
Listed below are the interest rates offered by the bank on recurring deposits for less than Rs.2 crore:
|Tenure||General Public||Senior Citizens (%)|
|181 days and up to 269 days||6.25||6.25|
|270 days but less than 1 year||6.5||6.5|
|Above 1 year and up to 375 days||6.5||6.5|
|376 days but less than 2 years||6.25||6.25|
|Above 2 years but less than 2 years and 6 months||6.25||6.25|
|2 years and 6 months||6.25||6.25|
|2 years 6 months 1 day but less than 3 years||6.25||6.25|
|Above 3 years but less than 4 years||6.5||6.5|
|Above 4 years but less than 5 years||6.5||6.5|
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