• DBS Foreign Currency Fixed Deposits

    When it comes to choosing a good financial product, you can always rely on DBS Bank. It is one of the leading banks in the world which offers great financial services to all its customers. DBS Bank was established in Singapore in the year 1968 so that the financing activities can be taken over from the Economic Development Board. The products and designed to meet the changing needs and requirements of the customers. Currently, the Development Bank of Singapore Limited has more than a hundred branches all across Singapore. The bank also has a strong foothold in different financial sectors that include markets and treasury, consumer banking, securities brokerage, asset management, debt fund raising and equity, etc. As far as the total assets are concerned, the Development Bank of Singapore is the largest of them all in South East Asia.

    The people of Singapore know that fact that their hard earned money should be safe. That is why they are always looking for options of investing their money to something that would yield them high returns. Fixed Deposits inculcates the idea of saving in an individual. The fixed deposit offered by DBS Bank offers a lot a flexibility to the consumer. With a myriad of perks and benefits to offer, the fixed deposit or time deposit scheme offered by The Development Bank oF Singapore proves to be extremely lucrative and beneficial. The rates of interest provided with this scheme is also attractive.

    Why choose DBS Bank Foreign Currency Fixed Deposit

    Being one of the top banks across the globe, The Development Bank of Singapore Limited never fails to offer a product or a service that would not benefit its customers. With a great deal of innovation and customisation, the products always stand out and meet individual demands. The fixed deposit or time deposit offered by this bank allows a customer to earn the rates that are much higher than the SGD deposits. Choosing this product will not ensure that you make the most of your investment, but also, will provide you with the peace that you deserve.

    Features and Benefits of DBS bank Foreign Currency Fixed Deposits

    There are several features and benefits that the DBS Time Deposit offers which can prove to be extremely beneficial for the customers of the bank. These features and benefits are listed below.

    • You can choose from a wide range of currencies and rates of interest.
    • Avail a fixed deposit tenor that is convenient for you.
    • The minimum deposit amount to initiate a fixed deposit account with The Development Bank of Singapore Limited is as low as SGD 5000.
    • In case of RMB, the minimum amount that must be deposited to start a fixed deposit account.

    Foreign Currency Deposit Rates offered by DBS Bank

    US Dollar Rates

    Foreign Currency Deposits
    Amt(USD) Rates in Percentage Upto 10'000 Upto 25'000 Upto 50'000 Upto100'000 Upto250'000 Upto 250'000
    1 day Rate 0.0000 0.0000 0.0000 1.0400 1.0400 1.0400
    1 week Rate 0.0000 0.0000 0.0000 1.0600 1.0600 1.0600
    1 mth Rate 1.0500 1.0500 1.0500 1.1100 1.1100 1.1400
    2 mths Rate 1.0600 1.0600 1.0600 1.1400 1.1400 1.1800
    3 mths Rate 1.1200 1.1200 1.1200 1.1900 1.2400 1.2500
    6 mths Rate 1.1200 1.1200 1.1200 1.2400 1.2700 1.2900
    12 mths Rate 1.0800 1.0800 1.0800 1.2350 1.3950 1.4200

    Great Britain Pound Rates

    Foreign Currency Deposits
    Amount (in GBP) Rates in Percentage Up to 25'000 Up to 50'000 Up to 100'000 Up to 250'000 Up to 500'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 mth Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    2 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    3 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    6 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    12 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0950

    Australian Dollar Rates

    Amount (in AUD) Rates in Percentage Up to 25'000 Up to 50'000 Up to 100'000 Up to 250'000 Up to 500'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.5300 0.7400
    1 mth Rate 0.8750 0.8950 0.9850 1.2550 1.3450
    2 mths Rate 0.9250 0.9450 1.0350 1.3050 1.3950
    3 mths Rate 0.9850 1.0050 1.0850 1.3650 1.4550
    6 mths Rate 0.9650 0.9850 1.0650 1.3450 1.4350
    12 mths Rate 1.0450 1.0650 1.1450 1.4250 1.5150

    Canadian Dollar Rates

    Amount (in CAD) Rates in Percentage Up to 25'000 Up to 50'000 Up to 100'000 Up to 250'000 Up to 500'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 mth Rate 0.0450 0.0450 0.3550 0.3550 0.3550
    2 mths Rate 0.0850 0.0850 0.3950 0.3950 0.4050
    3 mths Rate 0.1650 0.2250 0.4750 0.4750 0.4750
    6 mths Rate 0.2750 0.2750 0.4750 0.5450 0.5450
    12 mths Rate 0.4050 0.5600 0.6050 0.7400 0.9100

    New Zealand Dollar Rates

    Amount (in NZD) Rates in Percentage Up to 25'000 Up to 50'000 Up to 100'000 Up to 250'000 Up to 500'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.8300 0.9400
    1 mth Rate 1.0850 1.0850 1.1450 1.3650 1.5450
    2 mths Rate 1.1050 1.1050 1.1650 1.3850 1.5650
    3 mths Rate 1.2050 1.2050 1.3250 1.5350 1.6650
    6 mths Rate 1.0850 1.0850 1.2150 1.3750 1.5150
    12 mths Rate 1.1750 1.3500 1.3800 1.4650 1.6050

    Chinese Renminbi Rates

    Amount (in CNH) Rates in Percentage Up to 250'000 Up to 1000'000 Up to 2500'000 Up to 5000'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.1150 0.1650 0.2150
    1 mth Rate 0.9150 0.9150 0.9650 1.0650
    2 mths Rate 0.8650 0.8650 0.9150 1.0150
    3 mths Rate 1.0750 1.0750 1.1250 1.2250
    6 mths Rate 1.2650 1.2650 1.3150 1.4150
    12 mths Rate 1.3050 1.3050 1.3550 1.4200

    Hong Kong Dollar Rates

    Amount (in HKD) Rates in Percentage Up to 500'000 Up to 2500'000 Up to 5000'000
    1 day Rate 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000
    1 mth Rate 0.0000 0.0000 0.0000
    2 mths Rate 0.0000 0.0000 0.0000
    3 mths Rate 0.0000 0.0000 0.0000
    6 mths Rate 0.0000 0.0250 0.0850
    12 mths Rate 0.2400 0.2400 0.2400

    Japanese Yen Rates

    Amount (in JPY) Rates in Percentage Up to 10'MIL Up to 25'MIL Up to 50'MIL Up to 100'MIL
    1 day Rate 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.0000
    1 mth Rate 0.0000 0.0000 0.0000 0.0000
    2 mths Rate 0.0000 0.0000 0.0000 0.0000
    3 mths Rate 0.0000 0.0000 0.0000 0.0000
    6 mths Rate 0.0000 0.0000 0.0000 0.0000
    12 mths Rate 0.0000 0.0000 0.0000 0.0000

    Swiss Franc Rates

    Amount (in CHF) Rates in Percentage Up to 100'000 Up to 150'000 Up to 300'000 Up to 500'000 Up to 750'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 mth Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    2 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    3 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    6 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    12 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000

    Euro Rates

    Amount (in EUR) Rates in Percentage Up to 50'000 Up to 75'000 Up to 150'000 Up to 250'000 Up to 500'000
    1 day Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 week Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    1 mth Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    2 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    3 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    6 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000
    12 mths Rate 0.0000 0.0000 0.0000 0.0000 0.0000

    Eligibility to Apply for DBS Foreign Currency Fixed Deposit

    An individual who is above the age of 18 years can apply for a fixed deposit scheme with DBS Bank. Individuals who are below the age of twelve years can also open time deposit accounts with this bank as lo9ng as they have a legal guardian or a parent accompanying them. Their account will be treated as a minor account by The Development Bank of Singapore.

    Documentation

    • The permanent residents of Singapore and the citizens of Singapore must furnish the photocopy of NRIC
    • For all the foreigners, valid passport, telephone bills, rental agreement, utility bills, letter from the HR department of the current employer, management fee bill, etc. are required during the documentation process

    Frequently Asked Questions

    1. What are the different tenors that I may choose for my DBS Foreign Currency Time Deposit?
    2. For your DBS Foreign Currency Deposit, you may choose from a wide range of tenors. These periods include one day, one week, one month, two months, three months, six months and twelve months.

    3. Is it possible that I set instructions for maturity at the time of placement of the amount?
    4. Yes. It is very much possible that you select one of the following instructions for maturity.

      • Withdrawal of the principal amount along with the accumulated interest amount
      • Renewal of the principal amount and the interest amount
      • Renewal of the principal amount but withdrawal of the interest amount that has accumulated
    5. At the time when I want to make the transaction, will be informed about the prevalent rates of interest for the Foreign Currency Fixed Deposit?
    6. Yes. You will definitely be informed about the prevalent rates of interest offered by the Foreign Currency Fixed Deposit when you want to make the transaction.

    7. What documents should you furnish for opening an account?
    8. If you are a Singaporean citizen or a permanent resident, that you will have to furnish the photocopy of NRIC. If you are a foreigner who wants to apply for FDFC then you must provide valid passport along with utility bills, telephone bills, rental agreement, letter from your current employer stating your employment status, management fee bill, bank statements, etc.

    9. Can anyone below the age of twelve years open an account?
    10. Yes. Individuals below the age of twelve can have minor accounts with The Development of Singapore Limited bank. However, they must be accompanied by a legal guardian or parent who should be at least 21 years old.

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