Fixed Deposit – Singapore Dollar & Foreign Currency

Fixed Deposit – Singapore Dollar & Foreign Currency

Save a fixed amount of money in Singapore Dollars and Foreign Currencies at a fixed interest rate

Fixed Deposit – Singapore Dollar & Foreign Currency

 

At a Glance

DBS Fixed Deposit Account gives you the opportunity to maximise your savings in Singapore dollars and foreign currencies with fixed interest, while keeping your funds secured.

 

Benefits

  • Choice of Currencies: select from a list of currencies and interest rates here
  • Convenience: you can begin a new placement via Digibank or at any of our branches. Learn More
 

Eligibility and Charges

  • You are eligible for this account if you are at least 12 years old.
  • You may earn less or no interest if you withdraw your fixed deposit before maturity. An early withdrawal fee may also be imposed. Learn More
  • Please refer to the Deposits Guide for services charges applicable for deposits and withdrawals.
 

PIA Features & Benefits (Applicable for Singapore dollars Fixed Deposit only)

  • Choice of tenors from 6 months
  • Earn additional 0.10% p.a. interest#, added to the prevailing board rate for your deposits
  • Automatic renewals: Upon maturity, your deposit will be automatically renewed for the same tenor at the prevailing interest rate

# Rates are subject to change without prior notice

PIA Eligibility & Requirements (Applicable for Singapore dollars Fixed Deposit only)

  • At least one of the account holders should be 55 years old or older
  • The minimum initial deposit is SGD10,000 for a minimum 6-month tenor
 

Frequently Asked Questions

Total Balance refers to the total amount of all placements in an SGD Fixed Deposit (FD) account. The amount includes all new and existing placements/renewals.

With the new S$30,000 placement, the total FD account balance will be S$50,000 (S$20,000 + S$30,000). Hence, interest rate corresponding to the $50,000 - $99,999 range will apply. Learn More

The total FD account balance is S$100,000 (S$30,000 + S$70,000). Hence, interest rate corresponding to the $100,000 - $249,999 range will apply.

The placements are in different SGD FD accounts. Hence, interest rate corresponding to the $50,000 - $99,999 range will apply for each renewal.

Yes, you can. However, you may earn less or no interest if you withdraw your fixed deposit before maturity. An early withdrawal fee may also be imposed. Learn More

We will close your account if the balance remains zero for 12 months.

Yes, you may select one of the following maturity instructions:

  • Renew the principal and interest amounts;
  • Withdraw the principal and interest amounts; or
  • Renew the principal amount and withdraw the interest.

Learn More

You can refer to our foreign currency rates here.

For personal account, only the administrator or executor of your estate can make a claim on your account. Upon receiving notification of your death, the existing maturity instructions (e.g. credit to Savings account) given previously will no longer be valid. Upon maturity, the Fixed Deposit (principal and interest) will be automatically renewed for the same tenor at the prevailing interest rate. If your Fixed Deposit Account is a joint account, the surviving account holder can claim the money in the account.

An early withdrawal fee may be imposed. Also, you may earn less or no interest if you withdraw your fixed deposit before maturity. Learn More

There are multiple factors that determine the early withdrawal fee for a Fixed Deposit, including:

  • The rate quoted on the premature withdrawal date; and
  • Remaining number of days which are not fulfilled ie. from premature withdrawal date to original maturity date

Alternatively, you can access digibank (Fixed Deposit Premature Withdrawal service) on the premature withdrawal date to check if there is any applicable premature withdrawal fee for your placement.

We encourage you to place a shorter tenor FD if you foresee using your funds in the short-term. This can help you avoid any early withdrawal fee or reduction/loss of interest earned. Learn More

 

How to Apply

  • For digibank user

    Login now
  • For new customers, please prepare the following required documents prior to your application at our branches. Online application is applicable for existing customers only.

Not a digibank user? Get started

Find out more



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$75,000 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$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Conversions between currencies involve fluctuations and are subject to exchange controls. If you are converting from another currency to place the deposit and intend to convert it to the original currency, exchange rate fluctuations could cause the converted amount to be less than your original amount.

 

FD System Upgrade (7 Nov 2020)

  1. Why are my SGD FD and FCFD account numbers changed?

    After the system upgrade, your SGD FD and FCFD account numbers will be changed to 13-digit account numbers. See example 0123-12345678-1.

  2. Why are my SGD FD and FCFD deposit numbers changed?

    After the system upgrade, your SGD FD and FCFD deposit numbers will be changed to 12-digit deposit numbers. See example 010220123456.

  3. Can I open a Trust FD account for my child?

    No, we do not offer Trust FD account opening. You may open a Current or Savings Account if there is a need for a Trust account.

  4. What is the age criteria to open a Fixed Deposit account after system is upgraded?

    To open a multi-currency Fixed Deposit account, customers must be at least 12 years old.

  5. Do I need to open a separate Fixed Deposit account for SRS Fixed Deposit?

    After the system upgrade, you do not need to open a separate Fixed Deposit account for SRS Fixed Deposits. The same Fixed Deposit account can be used to place SRS Fixed Deposits.

  1. Why are my SGD FD and FCFD statements changed to monthly statements?

    This is to allow a monthly view of your Fixed Deposit transactions for the month. If you wish to view any of the transactions before receiving the statements, you may do so via digibank internet banking or mobile app.

  2. When will interest earned for the year be reflected on the statements?

    After the system upgrade,, your FD interest earned will be reflected on December month end statements. If you have closed your FD account during the year, then interest earned will be reflected on the month end statement of the account closure month.

  1. After system is upgraded, do you offer Chinese Renminbi (Offshore) Fixed Deposit via digibank?

    Yes, you need a minimum of SGD 5,000.00 to place Chinese Renminbi (Offshore) Fixed Deposit via digibank.

  2. After system is upgraded, can I update my Fixed Deposit maturity instruction via digibank?

    Yes, the maturity instruction will be updated instantly via digibank.

  3. After system is upgraded, do you still offer Fixed Deposit account opening & placement via digibank?

    Yes, after the system upgrade, a multi-currency Fixed Deposit account can be opened via digibank with placements in the currency and period of your choice.

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