DBS Bank Raises FD Interest Rates After RBI MPC Meeting, Don't Miss To Check Senior Citizens' Benefit

After Reserve Bank Of India hiked the repo rate by 50 bps recently to 4.90%, now DBS has raised its interest rates on fixed deposits to make them an attractive investment option for investors. The new rates have already become effective with effect from June 9, 2022.

It is important to note that FD for small period have also witnessed an attractive hike of 50 bps. (one basis point is one-hundredth of one percentage point). Now investors can fetch an interest rate of 4.5% for 7-Day tenure FD (for FDs less than Rs 2 crore).
Citizens can get an interest rate of 2.75% for FDs for the tenure of 8 days- 60 days.

The bank is offering an interest rate of 3% for FDs maturing 61 days to 90 days. The interest rate will be 5.50% for FDs maturing in 376 days to less than 2 years. The maximum interest rate available is 6% for FD for 5 years and above tenure.

There is additional benefit for senior citizens with the bank. They can now fetch 50bps over and above the latest interest rates for deposits above 6 months, as per the bank's official website. These rates shall be applicable for domestic/NRO FD rates less than Rs crore.

Check the new rates w.e.f June 9, 2022:

Tenure	Interest Rate p.a.
7 days	4.50%
8 days & up to 14 days	2.75%
15 days & up to 29 days	2.75%
30 days & up to 45 days	2.75%
46 days & up to 60 days	2.75%
61 days & up to 90 days	3.00%
91 to 180 days	3.00%
181 to 269 days	3.25%
270 to less than 1 year	3.75%
1 year to 375 days	5.30%
376 days to less than 2 years	5.50%
2 years & less than 2 years 6 months	5.60%
2 years & 6 months	5.80%
2 years 6 months 1 day & less than 3 years	5.80%
3 years and less than 4 years	6.00%
4 years to less than 5 years	6.00%
5 years and above	6.00%