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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
Fixed Deposit Interest rates
You may view the Fixed Deposit rates below:
- S$ Deposits - Fixed Deposits
- Foreign Currencies - Foreign Currency Fixed Deposits
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
How to Apply
If you are existing DBS/POSB customers, you can open a Fixed Deposit at digibank online instantly.
Or you can also open a Fixed Deposit instantly at digibank mobile
-
Download the digibank mobile app
- Login and tap on ‘More’ and ‘Deposit Accounts followed by ‘Fixed Deposit Account’
For new customers, please prepare the following required documents prior to your application at our branches. Online application is applicable for existing customers only.
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.
Frequently Asked Questions
What is Total Balance?
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.
My FD account has an existing S$20,000 placement and I want to place another S$30,000. What is the applicable interest rate for the new S$30,000 placement?
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
My FD account has 2 placements which sum up to S$100,000 (S$30,000 + S$70,000). What is the applicable interest rate for each renewal?
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.
I have an existing placement of S$50,000 in my single name FD account and another S$50,000 in a joint FD account. What is the applicable interest rate for each renewal?
The placements are in different SGD FD accounts. Hence, interest rate corresponding to the $50,000 - $99,999 range will apply for each renewal.
Can I close my account or withdraw my FD before its maturity date?
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
What happens if the balance in my FD Account is zero?
We will close your account if the balance remains zero for 12 months.
Can I set the maturity instruction at the point of placement or after placement is done?
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.
Where can I check for the current foreign exchange rates?
You can refer to our foreign currency rates here.
What will happen to my FD Account if I die?
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.
Will there be early withdrawal fee levied for SGD & Foreign Currency Fixed Deposit placements?
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
How do you compute the early withdrawal fee for Fixed Deposit (FD)?
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
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