DBS Bank revises savings account rates, offers upto 5.5 per cent

DBS Bank India has revised its savings account interest rates across balance slabs, with the new structure offering one of the most competitive returns in the industry.

The revised rates show the bank’s continuous efforts to offer enhanced value to its customers, balancing safety and returns, while maintaining a forward-looking deposit strategy.  Following the recent cuts in the repo rate, with multiple banks having lowered interest rates on savings accounts, the higher rate on the DBS Savings Account, makes it a uniquely attractive proposition for those looking to maximise their savings and grow their wealth.

Upto 5.5 percent

For customers residing in India, balances between ₹5 lakh and ₹50 lakh will now earn 5.50% per annum — a rate that is nearly twice as high as those being offered by many peer banks for the same balance slab.

DBS Bank India has a tiered rate structure, offering differentiated value as per the savings account balances for both domestic and non-resident account holders. For non-resident account holders, balances above ₹2 lakh will earn 3 per cent per annum, while balances up to ₹2 lakh will continue to earn 2.75% per annum.

This timely proposition combines the convenience of a savings account with the advantage of significantly higher returns on certain balance tiers, creating a compelling reason to open a DBS Savings Account. The revised rate structure for a DBS Savings Account is also available on the bank’s website which can be accessed here: dbs.com/digibank/in/banking/account/savings-account.

This high-interest savings account can be opened digitally through the DBS digibank app.

In 2024, DBS announced a pioneering, new feature for Non Resident Indians (NRIs) through which they could open a savings account digitally, setting the standard for a seamless account opening experience that can be completed within an hour and on-the-go.

DBS Bank has been present in India for more than 30 years, opening its first office in Mumbai in 1994. DBS is a financial services group in Asia with a presence in 19 markets. It is headquartered and listed in Singapore.

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