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CHANGES IN INTEREST RATES
DBS Bank’s Prime Rate will be reduced by 0.25% to 7.25%
with effect from tomorrow, 16 September 98.
There will also be changes in the deposit rates. Fixed Deposit Rates
will decrease by 0.5% for 1 - 12 months and 0.25% for 24 months. Savings,
Savings Plus, Autosave and CPF Investment Account rates will also be decreased. These
changes will also take effect from 16 September 98.
The new rates for Savings, Savings Plus, Autosave, and CPF Investment
Account are as follows :-
| |
Rates(%pa) |
Changes(%pa) |
| For Savings Account Balances: |
| Below $3,000 |
2.500% |
-0.250% |
| $3,000-$50,000 |
3.000% |
-0.250% |
| Above $50,000 |
3.625% |
-0.250% |
| For Savings Plus Account Balances: |
| Below$3,000 |
2.750% |
-0.250% |
| $3,000-$50,000 |
3.250% |
-0.250% |
| Above $50,000 |
3.750% |
-0.375% |
| For Autosave Account Balances: |
| Below $3,000 |
2.875% |
-0.250% |
| $3,000-$50,000 |
3.500% |
-0.250% |
| Above $50,000 |
4.125% |
-0.375% |
| CPF Investment Account: |
| Below $25,000 |
2.750% |
-0.250% |
| $25,000 or more |
3.250% |
-0.250% |
The posted board rates for Fixed Deposits of amounts less than $50,000
are as follows:
| Period |
Rates(%pa) |
Changes(%pa) |
| 1 month |
4.750% |
-0.500% |
| 2 months |
4.750% |
-0.500% |
| 3-5 months |
4.750% |
-0.500% |
| 6-9 months |
4.750% |
-0.500% |
| 10-11 months |
4.750% |
-0.500% |
| 12 months |
4.875% |
-0.500% |
| 24 months |
5.250% |
-0.250% |
Rates for higher amounts for Fixed Deposit accounts can be obtained
from DBS Bank branches or from the DBS Rates Information Services (1800 - 222 2222).
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