Overview of DBS Bank
Set up in the year 1968 by the Government of Singapore, DBS Bank was initially made to take over the industrial financing activities from the Economic Development Board. Currently, it operates in 15 Asian countries with 12 branches across India. Through its wealth management services, DBS Bank helps its customers to achieve their financial goals.
Recurring Deposit from DBS Bank
Recurring Deposit is a wise saving option for small time investors and those with a steady monthly income. A unique kind of term deposit, RD allows the investors to deposit a fixed sum every month for a fixed period. Once the deposit tenure is over, the account holder gets back a lump sum amount including the principal and interest.
To encourage the habit of savings in its customers and to maximise their profit, DBS Bank offers Recurring Deposit scheme with various features and benefits.
Features and Benefits of DBS Bank’s Recurring Deposit
- The deposit tenure ranges from a minimum of 6 months to a maximum of 5 years.
- The minimum monthly deposit amount is as low as Rs. 1000.
- You do not require to invest a lump sum amount, upfront, to open an RD account with DBS Bank.
- If you already hold a savings account with DBS Bank, then you can avail the option of ‘auto-debit to RD account’.
- Visit any DBS Bank branch to open an RD account.
- TDS deductions are subject to the existing income tax rules as at the time of opening the RD account.
Interest offered on DBS Bank’s Recurring Deposit
DBS Bank believes in guaranteeing maximum returns to its customers. Hence, the Recurring Deposit interest rates are same as that of the term deposit rates. Please contact the nearest DBS branch to know more about the interest rates offered on Recurring Deposit.
Know the Current Recurring Deposit Rates
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