DBS Bank India revises its FD rates upwards
National, 29th July, 2022:
DBS Bank India Limited, Asia's Safest Bank, today announced an upward revision of the Fixed Deposit (FD) rates offered by the bank across tenors.
Senior Citizens earn an additional 50 basis points for tenors above 6 months.
The deposit rates along with the annualised yields are as below:
| Revised Rates % p.a. with effect from 28.07.2022 | |||||
| DOMESTIC Deposits | |||||
| Tenor | Regular |
| Senior Citizen | ||
| Interest Rate | ** Annualised Yield |
| Interest Rate | ** Annualised Yield | |
| 1 year | 5.75% | 5.88% |
| 6.25% | 6.40% |
| 2 years | 6.50% | 6.88% |
| 7.00% | 7.44% |
| 3 years | 6.25% | 6.82% |
| 6.75% | 7.41% |
| 4 years | 6.25% | 7.04% |
| 6.75% | 7.68% |
| 5 years | 6.25% | 7.27% |
| 6.75% | 7.95% |
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| NRE Deposits |
| ** Annualised Yield - Simple Interest p.a. Compounded Quarterly | |||
| Tenor | REGULAR |
| |||
| Interest Rate | ** Annualised Yield |
| |||
| 1 year | 5.75% | 5.88% |
| ||
| 2 years | 5.75% | 6.05% |
| ||
| 3 years | 5.00% | 5.36% |
| ||
| 4 years | 5.00% | 5.50% |
| ||
| 5 years | 6.25% | 7.27% |
| ||
| * Senior Citizen rates Not Applicable for NRO & NRE Deposits | |||||
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Bank of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 13 consecutive years from 2009 to 2021. DBS was also ranked No. 1 on Forbes' list of the World's Best Banks in India for two consecutive years.
DBS Bank has been present in India for 28 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides an entire range of banking services for large, medium and small enterprises and individual consumers in India. In 2016, DBS launched India's first mobile-only bank – digibank, which now has ~1 million savings accounts. In November 2020, Lakshmi Vilas Bank was amalgamated with DBS Bank India Limited. The bank now has a network of nearly 600 branches across 19 states in India.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established an SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 30,000+ staff representing over 40 nationalities. For more information, please visit www.dbs.com.
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