In the last 9 months, RBI has increased the repo rate at frequent intervals. After this increase in the repo rate, most of the big government and private banks of the country have increased their fixed deposit rates.
In the last 9 months, RBI has increased the repo rate 5 times at consecutive intervals. After this increase in the repo rate, most of the big government and private banks of the country have increased their fixed deposit (FD) rates. In this sequence, private sector lender DBS Bank has increased the interest rates on FDs of less than Rs 2 crore. After this increase in interest rates, the bank is giving 2.50% to 6.50% interest to its general customers.
While the bank is giving 5.25% to 7% interest to its senior citizen customers on the same time period. On the other hand, DBS Bank is paying a maximum interest of 7.25% to its general customers and 7.75% to its senior citizen customers on FDs of 376 days to 600 days. According to the information received from the official website of the bank, the increased new interest rates are applicable from 1 February.
New FD rates increased by DBS Bank
After this increase in the interest rate, DBS Bank will give its customers 2.50% on FDs of 7 days, 2.75% on FDs of 8 days to 60 days, 3.25% on FDs of 61 days and 3% on FDs of 62 days to 180 days. paying interest. The same bank is paying 4.75% on FDs of 181 days to less than 1 year, 6.25% on FDs of 1 year to 375 days and 7.25% on FDs of 376 days to 540 days.
Getting 7.25% interest from here
On the other hand, the bank will pay 7.25% on FDs of 541 days to 600 days, 7.25% on FDs of 600 days, 6.50% on FDs from 601 days to less than 5 years and 6.50% on FDs of 5 years and above. Used to be. Apart from this, DBS Bank is giving an additional 50 basis points more interest than the standard rate on FDs of 181 days to 5 years to its senior citizen customers.
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