With DBS fixed deposit schemes, you can maximise your returns and secure your money to a great extent.
You can also use the monies parked in your FD account as a collateral for obtaining loans and other credit facilities from the bank.
DBS Bank Fixed Deposit Schemes in Singapore:
- Singapore Dollar FD
- Foreign Currency FD
- DBS Premier Income Account
Singapore Dollar FD
- A fixed deposit scheme which lets you invest in Singapore dollars.
- The minimum deposit amount is S$1,000.
- You can invest:
- At our branches
- Through ibanking
- Tenors range from one month to two years.
Foreign Currency FD
- You have the option to invest in any of the 9 major foreign currencies.
- The Minimum placement amount is equivalent of S$5,000 in a currency of your choice.
- The tenure can range from 1 to 12 months.
- Depending on the exchange rate of a currency, you might actually earn more than you would have from an SGD time deposit scheme.
|You can check for DBS Bank Foreign Currency Fixed Deposit Interest Rate|
DBS Premier Income Account
This premium FD product is directed towards the investment needs of the premium category of customers, aged 55 and above. Here are the key highlights:
- The tenor can range from 6 months to 60 months.
- For tenors of 12, 18, 24, 36, 48, and 60 months, you can choose to receive the interest on a monthly basis or in a lump sum.
- The minimum placement amount under this scheme is S$10,000.
- For joint holding accounts, at least one of the members should be aged 55 or above.
- Deposit can be placed through:
- Your deposit would be automatically renewed on maturity, unless stated otherwise.
Features & Benefits of DBS Bank Fixed Deposit
Easy to invest: Begin investing in fixed deposits by visiting a branch or via ibanking (internet banking). Manage your deposits under a single window.
Multiple tenor options: Tenor options range from 1 month and can go up to 2 years.
Choice of currencies: You can choose from over 9 major foreign currency and also Singapore dollars.
Overdraft feature: Pledge your FD as collateral towards applying for an overdraft of up to S$10,000 at exclusive interest rates.
Fixed income option: Get interest payments on a monthly basis with your premier banking FD account.
DBS Fixed Deposit - Eligibility
- Singapore Dollar FD: The applicant should be at least 12 years old. For minors younger than 12 years in age, a trust minor account can be opened under the supervision of a parent/legal guardian who is at least 21 years in age.
- Foreign Currency FD: The account holder should be at least 18 years in age. Minors less than 12 years can open a foreign currency FD with parent/legal guardian who is at least 21 years old.
- DBS Premier Income Account: At Least one of the account holder(s) should be 55 years in age.
Minimum Initial Deposit
|Singapore Dollar FD||S$1,000|
|Foreign Currency FD||S$5,000 equivalent|
|DBS Premier Income Account||S$10,000|
DBS Singaporean Dollar Time Deposit Interest Rate 2018
|Tenure/Deposit||S$1,000 to S$9,999||$10,000- $19,999||$20,000- $49,999||S$50,000- $99,999||$100,000- $249,999||$250,000- $499,999||$500,000- $999,999|
|1 month||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.|
|2 months||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.||0.05% p.a.|
|3 months||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.|
|4 months||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.|
|5 months||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.||0.15% p.a.|
|6 months||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.|
|7 months||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.|
|8 months||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.||0.2% p.a.|
|9 months||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.|
|10 months||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.|
|11 months||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.||0.25% p.a.|
|12 months||0.35% p.a.||0.35% p.a.||0.35% p.a.||0.35% p.a.||0.35% p.a.||0.35% p.a.||0.35% p.a.|
|18 months||0.8% p.a.||0.8% p.a.||0.8% p.a.||0.8% p.a.||0.8% p.a.||0.8% p.a.||0.8% p.a.|
|24 months||1% p.a.||1% p.a.||1% p.a.||1% p.a.||1% p.a.||1% p.a.||1% p.a.|
|36 months||1.1% p.a.||1.1% p.a.||1.1% p.a.||1.1% p.a.||1.1% p.a.||1.1% p.a.||1.1% p.a.|
|48 months||1.15% p.a.||1.15% p.a.||1.15% p.a.||1.15% p.a.||1.15% p.a.||1.15% p.a.||1.15% p.a.|
|60 months||1.2% p.a.||1.2% p.a.||1.2% p.a.||1.2% p.a.||1.2% p.a.||1.2% p.a.||1.2% p.a.|
DBS Foreign Currency Fixed Deposit Interest Rate 2018 (USD)
|Tenure/Deposit||Up to USD 10,000||Up to USD 25,000||Up to USD 50,000||Up to USD 100,000||Up to USD 250,000||Up to USD 500,000|
|1 Day||0% p.a.||0% p.a.||0% p.a.||1.26% p.a.||1.26% p.a.||1.26% p.a.|
|1 Week||0% p.a.||0% p.a.||0% p.a.||1.3% p.a.||1.3% p.a.||1.3% p.a.|
|1 Month||1.47% p.a.||1.47% p.a.||1.47% p.a.||1.53% p.a.||1.53% p.a.||1.53% p.a.|
|2 Months||1.61% p.a.||1.61% p.a.||1.61% p.a.||1.69% p.a.||1.69% p.a.||1.69% p.a.|
|3 Months||1.92% p.a.||1.92% p.a.||1.92% p.a.||1.99% p.a.||1.99% p.a.||1.99% p.a.|
|6 Months||1.92% p.a.||1.92% p.a.||1.92% p.a.||2.06% p.a.||2.06% p.a.||2.06% p.a.|
|12 Months||1.93% p.a.||1.93% p.a.||1.93% p.a.||2.085% p.a.||2.085% p.a.||2.085% p.a.|
DBS Foreign Currency Fixed Deposit Interest Rate 2018 (GBP)
|Tenure/Deposit||Up to GBP 25,000||Up to GBP 50,000||Up to GBP 100,000||Up to GBP 250,000||Up to GBP 500,000|
|1 Day||0% p.a.||0% p.a.||0% p.a.||0% p.a.||0% p.a.|
|1 Week||0% p.a.||0% p.a.||0% p.a.||0% p.a.||0% p.a.|
|1 Month||0% p.a.||0% p.a.||0% p.a.||0.255% p.a.||0.315% p.a.|
|2 Months||0% p.a.||0% p.a.||0% p.a.||0.255% p.a.||0.315% p.a.|
|3 Months||0.025% p.a.||0.165% p.a.||0.265% p.a.||0.485% p.a.||0.535% p.a.|
|6 Months||0.115% p.a.||0.115% p.a.||0.355% p.a.||0.565% p.a.||0.595% p.a.|
|12 Months||0.245% p.a.||0.245% p.a.||0.325% p.a.||0.605% p.a.||0.725% p.a.|
DBS Foreign Currency Fixed Deposit Interest Rate (Euro)
Euro deposits do not earn any interest at DBS currently.
DBS Foreign Currency Fixed Deposit Interest Rate 2018 (Australian Dollar)
|Tenure/ Deposit||AUD Up to 25,000||Up to AUD 50,000||Up to AUD 100,000||Up to AUD 250,000||Up to AUD 500,000|
|1 Day||0% p.a.||0% p.a.||0% p.a.||0% p.a.||0% p.a.|
|1 Week||0% p.a.||0% p.a.||0% p.a.||0.18% p.a.||0.39% p.a.|
|1 Month||0.675% p.a.||0.695% p.a.||0.785% p.a.||1.055% p.a.||1.145% p.a.|
|2 Months||0.805% p.a.||0.825% p.a.||0.915% p.a.||0.185% p.a.||1.275% p.a.|
|3 Months||1.055% p.a.||1.075% p.a.||1.155% p.a.||1.435% p.a.||1.525% p.a.|
|6 Months||0.995% p.a.||1.015% p.a.||1.095% p.a.||1.375% p.a.||1.465% p.a.|
|12 Months||1.005% p.a.||1.025% p.a.||1.105% p.a.||1.385% p.a.||1.475% p.a.|
DBS Foreign Currency Fixed Deposit Interest Rate (Hong Kong Dollar)
|Tenure/Deposit||Up to HKD 500,000||Up to HKD 2.5 million||Up to HKD5 million|
|1 Day||0% p.a.||0% p.a.||0% p.a.|
|1 Week||0% p.a.||0% p.a.||0% p.a.|
|1 Month||0.665% p.a.||0.735% p.a.||0.795% p.a.|
|2 Months||0.845% p.a.||0.915% p.a.||0.975% p.a.|
|3 Months||1.095% p.a.||1.165% p.a.||1.225% p.a.|
|6 Months||1.145% p.a.||1.215% p.a.||1.275% p.a.|
|12 Months||1.36% p.a.||1.36% p.a.||1.36% p.a.|
Fixed Deposit Schemes Offered by DBS in Singapore Features:
Singapore Dollar Time Deposit:
- An applicant needs to be aged 12 years or above to be eligible.
- Tenures range from 1 month to 5 years.
- There is a provision under which you can withdraw your deposit before maturity.
Foreign Currency Time Deposit:
- You have the convenience of multiple options to choose from.
- The maximum tenure for this fixed deposit is 12 months.
DBS Fixed Deposit Insurance Scheme
To ensure that the money you put in a bank is safe from untoward circumstances such as the closure or instability of the institution, the Monetary Authority of Singapore (MAS) has mandated that all deposits of individuals should be protected.
This is facilitated through the Deposit Insurance Scheme (DIS) administered by the Singapore Deposit Insurance Corporation (SDIC).
Deposits of up to S$50,000 will be protected under the scheme.
Other Products Offered by DBS Singapore
- Apart from Fixed Deposits DBS offering below products
- Savings Account
- DBS Credit Cards & Debit Cards
- DBS Home Loans
- DBS Personal Loans
- DBS Car Loans
- Foreign Exchange and Cash Management
- Retirement Planning
Frequently Asked Questions
Q. What happens if I decide to close my DBS fixed account before maturity?
A. The bank allows its customers to close or withdraw fixed deposit amount before maturity. You may receive less or no interest on the principal amount. However, DBS returns the principal amount in full.
Q. How is the interest computed on DBS fixed deposits?
A. DBS follows the industry standards of computing interest in calendar quarters of the specific year.
Q. Can I convert my personal fixed deposit account into a joint account?
A. You are free to convert your DBS FD account into a joint account by visiting any of the designated branches. The bank does not charge any fee for conversions.
Q. Will the interest earned on my FD account attract tax?
A. If you are a non-Singaporean, you will have to pay tax – withholding tax or income tax – on the interest earned in your FD account.
Q. Can I set maturity instructions when placing the deposit?
A. Yes. You can set instructions for maturity. You can either get both the principal and interest amount put back into an FD, or renew only the principal amount and withdraw the interest amount.
News About DBS Bank Fixed Deposit
Sign up for DBS Treasures within 31 December 2017 and stand a chance to win a gamut of special gifts. You can win up to S$5,600 in cash rebates and gifts through investments and insurances made through the DBS Treasures wealth management program.
22nd December 2017
The DBS Bank is here with its latest promotions for the new applicants of DBS Treasures. You can sign up for DBS Treasures and win a cash credit of up to S$5,600! DBS Treasures is definitely an option you can consider to manage your finances better.
02nd January 2018
DBS Bank said it will not sell packaged retail and insurance-based investment products to retail investors in the European Economic Area, starting 1 January 2018. The move comes in response to new KID regulation on PRIIPs announced by the European Commission.
26th December 2017
4 Financial Tips to keep in mind when you are 40
Are you 40 already? Or are you approaching that crucial age? Well, if you are, here are some priceless tips that you should consider.
Having enough money in your bank account is crucial. With so many expenses that will come your way unannounced, you need to have enough money to expend for a rainy day. If you feel your savings aren’t good enough, the first thing you should be doing is working to bring them up.
Investing in a good health insurance policy
If you don’t have a comprehensive health insurance policy yet, well, you might definitely want to purchase one. If you already have one, you might think about expanding the scope of your policy cover, for you never know what life will hold in the years to come. As far as term plans are concerned, you must have already invested in one by the time you’re 40.
Clearing out your loans
Perhaps the only advisable loan to have when you are 40 is a home loan – you should make sure you set yourself free of your personal loans, and your credit card debt (which should be low enough to be negligible). A car loan along with your home loan is also fine – this should ideally be the case only of your spouse is also earning.
Plan for your retirement
The last tip on the list, and perhaps the most important one, is investing in a retirement plan. Choose a plan that will give you a good amount in the form of pension, so that you can live your retirement years without hassle.
16th November 2017
Things you should know about SIBOR and fixed deposit rates
Home buyers have two major rate packages when taking on home loans, SIBOR and fixed deposit home rate (FHR). Before you make a decision based on the present rate, you should take a few things into account:
• SIBOR is dependent upon day-to-day markets and hence the economy. The economy in Singapore is fairly stable and hence SIBOR experiences low fluctuations.
• FHR is dependent on the FD rates of the bank and hence is dependent mostly upon the performance of the bank itself.
• The banks can also intervene and change the prices of FHR based on their discretion, without intervention by the government.
• Changes in SIBOR rates have far-reaching implications, therefore it is indirectly controlled by the government as it controls the economy.
• SIBOR can fluctuate heavily with massive fluctuations in global economies like that of the US, but in this scenario the FHR will be affected as well.
• FHR also attracts higher premiums. The premiums are negotiable but will always be considerably higher than that of Sibor packages.
Based on all the information, we recommend taking the FHR loan if you foresee high economic instability in the future, but be aware that performance of banks in that scenario will be affected and hence will affect your FHR rates too.
22nd September 2017
DBS to gain big from rate upcycle
Singapore’s largest bank, DBS, is all set to make big returns from the new rate upcycle, owing to its large number of loans denominated in Singaporean dollars.
Loans in Singapore dollars make up for 40.5% of total loans, mostly owing to the Singapore dollar-CASA ratio standing at 89.5%.
DBS has also consistently maintained its market share in Singapore dollar denominated savings accounts and currently holds 52% of the total market share. As far as Singapore dollar Fixed Deposits are concerned, although the share of these FDs is 10.4% of its Singapore dollar denominated deposits, it doesn’t need to aggressively push for an increase in this number owing to its healthy market standing in terms of total deposits denominated in Singaporean dollars.
Moreover, DBS’s fixed deposit rates are amongst the lowest rates in Singapore – 0.56% - much lower in comparison to other top banks like OCBC and UOB that offer Fixed Deposit rates of 1.04% and 1.12% respectively.
16th August 2017
DBS stays in front of the dollar-bond game
Development Bank of Singapore Group has pushed the market share to 47% from 39% and has stayed on top of the dollar-bond game in Singapore. This data is as per the information provided by Bloomberg.
Mr. Clifford Lee, the fixed income head of DBS stated that they have a 50% market share at present. They have made it possible by bringing in more issuers from foreign countries. Manulife, the Canadian insurance company, was also helped by the bank when DBS joined hands with Standard Chartered bank. The insurer was able to sell ten year bonds worth S$500 million at 3.85%.
11th July 2016
DBS Foundation to Fund Aspiring Entrepreneurs
The DBS Foundation will provide funding and business advice to people aiming to become social entrepreneurs in 2016 through its competition and grant programme. It has ordered research on the process of working with social incubators to help social enterprises and on alternative financing methods for such enterprises. Two-day DBS Foundation 2016 Social Enterprise Summit called ‘Hard Truths & Honest Conversations’ will be held in the Marina Bay Financial Centre and will have people who practice social enterprise discuss the realities of enterprise management, market and communities, skills, etc. This Summit will allow social enterprise aspirants to register for the grant programme from June 30. The applicants will be selected by a team from DBS based on the business model and its impact on the social need they plan to champion.
30th June 2016
Chart Released By DBS Bank Shows Improvement in Local Liquidity Conditions
DBS Bank released a chart today that indicates that liquidity conditions have improved in Singapore over the past few months. It also indicates that deposits have seen a steady increase for a while, whereas loan numbers have decreased slightly. There has also been a decent improvement in foreign reserves. According to DBS, domestic conditions in Singapore will be sufficient to counter any negate any pressure on Singapore Dollar rates as a result of the Singapore Dollar being weakened. The bank expects that Singapore Dollar rates will stabilise against US Dollar rates as there is possibility of rate hike by the US Federal Reserve.
17th May 2016
DBS declares Q1 profit: S$1.2 billion
A sharp increase in corporate borrowing and the number of housing loans disbursed paved the way for Singapore’s largest bank, DBS, to be able to declare a strong 6% rise in core net profits for Q1, 2016.
This announcement was made for the first 3 months of the year ending
March 31st, 2016. In the same time last year, the bank had declared a profit of S$1.13 billion.
In terms of total income, the bank exceeded its own expectations, and was able to generate a staggering S$2.87 billion. The net income from interest was reported to be S$1.82 billion.
04th May 2016