The DBS Foreign Currency Fixed Deposit account offers you a great opportunity to earn foreign exchange gains along with the earned interest. The foreign currency interest rates are pretty high as compared to Singapore dollar. The main eligibility criteria for having a Foreign Currency Fixed Deposit account with DBS bank is you must have a minimum age of 18 years.
The Development Bank of Singapore or DBS Bank is one of the leading banks across the globe that offers outstanding financial products and services. The Foreign Currency Fixed Deposit Scheme offered by the Development Bank of Singapore comes with several foreign currencies. Australian Dollar or AUD is one of those currencies. The account renews when the placement attains maturity. You can choose from a wide range of tenures too. When you think of saving, this can definitely prove to be one of the best schemes. Not only is your money safe with the bank, but also you will be able to earn substantial amount of interest on your placement. With the help of internet banking and mobile banking, you will also be able to track your money and know exactly where it is flowing. The minimum placement that you must make should be equivalent to SGD 5000.
The Foreign Currency Fixed Deposit interest rates are mentioned below:
- For amount less than AUD25,000, rate of interest for 1 day is 0.000% p.a and for 12 months it is 1.0150% p.a.
- For amount between AUD100,000 to AUD200,000, rate of interest for 1 day is 0.000% p.a. and for 12 months rate of interest is 1.3950% p.a.
- For amount between AUD250,000 to AUD500,000 rate of interest for 1 day is 0.000% p.a. and for 12 months rate of interest is 1.4850% p.a.