DBS FD Interest Rates: After the increase in the repo rate by the Reserve Bank of India, almost all the banks have started increasing the interest rates. Private sector DBS Bank has increased the interest rates on FDs. Now the interest rates on fixed deposits (FDs) deposited in the bank have also been increased. On the other hand, the interest rate on the loan has been increased.
New rates applicable from July 15
The new rates of DBS Bank have become effective from 15 July 2022 of this month. The bank has increased the interest rates on FDs of less than 2 crores. DBS Bank has FD plans of minimum 7 days and up to 10 years. The bank has increased its FD rates by 20 to 150 basis points for tenors ranging from 181 days to 10 years.
DBS Bank new interest rates
Now DBS Bank will get 3.25% interest on Fixed Deposits with a tenure of 181 days to 269 days, while the interest rate on FDs maturing from 270 days to less than 1 year will be 4.75%. At the same time, the interest rate on this for a period of 1 year to less than 375 days will be 5.65%, for a tenure of 2 years to less than 3 years, the interest rate will be 6.75% and on FD with a tenure of up to 5 years.
These banks have already increased
Let us tell you that SBI, Axis Bank, Indian Overseas Bank, Punjab & Sind Bank, IDBI Bank have increased their FD rates. This process of increasing these increased rates has started after the increase in the repo rates of RBI.