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DBS Premier Income Account
Features & Benefits
- Choice of tenor from 6 to 60 months
- Earn additional 0.10%p.a.# interest, added to the prevailing first tier rate for deposits of S$1,000 to S$9,999
- You can choose to receive your interest every month or in a lump sum upon maturity (applicable for 12, 18, 24, 36, 48 and 60 months deposits only)
- Convenient deposit placement through iBanking or at our branches
- Automatic renewals: Upon maturity, your deposit will be automatically renewed for the same tenor at the prevailing interest rate
- Preferential rates for foreign currency notes exchange
- Overdraft facility: You can use your fixed deposit as collateral to apply for an overdraft facility of up to S$10,000 at a competitive rate. (subject to credit approval)
Eligibility & Requirements
- At least one of the account holder should be 55 years old or older
- The minimum initial deposit is SGD10,000 for a minimum 6-month tenor
Frequently Asked Questions
You may view the S$ Fixed Deposits interest rates on our website via Rates Online or call 1800 111 1111. As a Premier Income Account customer, you will enjoy an additional 0.10%p.a. on top of the prevailing first tier rate for deposits of S$1,000 to S$9,999, depending on market conditions.
Yes, you can. However, you may receive zero interest or less interest than that originally contracted.
We adopt the industry's guideline of paying interest based on the completed quarters of a calendar year. That is, interest is not paid if the completed period of deposit is shorter than 3 months. However, do note that if the completed period of deposit is 3 months or more, you may still earn less or no interest. More importantly, we will return the full principal amount. Please check with our branch staff for more details and consider carefully before performing a premature withdrawal.
Can I convert my personal Premier Income Account into a joint account? Are there any charges for the conversion?
Yes, you may. Please visit any branch to do so. There is no charge for the conversion
For a personal account, only the administrator or executor of your estate can make a claim on your account. Upon receiving notification of your death, any monthly interest payment/annual interest payment linked to the account will be stopped. Upon maturity, the Fixed Deposit (principal and interest) will be automatically renewed for the same tenor at the prevailing interest rate.
We will close your account if the balance in your account remains zero for 12 months.
How to Apply
- Visit any of our branches
New to DBS?
Required documents for account opening at branch
Singapore citizens and permanent residents
- Singapore NRIC
- Passport and relevant pass issued by the Immigration and Checkpoint Authority of Singapore; and
- Either one of the documents below for proof of address (within last 3 months)
- In-Principle-Approval letter issued by Ministry of Manpower (MOM); or
- Utility bill; or
- Telephone bill; or
- Bank or credit card statements/bank reference letter; or
- Rental agreement; or
- Management fee bill; or
- Letter from the human resource department of current employer
# Rates are subject to change without prior notice
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member.