Foreign Currency Fixed Deposit Placement

General FAQs

  1. Will my account be opened instantly?

    For applications made between Mondays to Saturdays, 0700 hr to 1900 hr, your account will be opened instantly. Beyond this period, account opening will take 2 working days (including Public Holidays).

  2. How will I be informed if the account has been opened?

    Once the account has been opened, you will receive a message in your "Notifications" on iBanking. The account number will be stated in the message. If you are unable to open the account, you will also receive a message in your "Notifications" on iBanking.

  3. Will the new account be automatically linked to my iBanking services?

    Yes.

Place a Foreign Currency Fixed Deposit

  1. Can I make a Foreign Currency Fixed Deposit (FCFD) Placement if I do not have a FCFD account?

    You will need to be an existing FCFD account holder before you may make a FCFD placement through DBS iBanking. If you do not have a FCFD account, you may open a FCFD account via DBS iBanking.
    Find out more about Foreign Currency Fixed Deposit.

  2. When can I access this service on DBS iBanking?

    This service is available on DBS iBanking from 9 a.m. to 7 p.m. Mondays to Fridays (excluding Saturdays, Sundays and public holidays), and subject to the availability of foreign currency rates.

  3. What is the placement amount I can make?

    You can place up to a maximum of S$ 200,000 equivalent with this service per placement.

  4. What are the deposit periods I can choose from?

    Depending on the currency type and principal amount, the choice of deposit periods include:

    • One day
    • One week
    • One month
    • Three months
    • Six months
    • Twelve months
  5. Will I know the rates at which my FCFD placement transaction is transacted?

    Yes, you will be shown the prevailing FCFD interest rate and foreign exchange rate at the point of your transaction.

  6. Can I set my maturity instruction at the point of placement?

    Yes, you may select the following maturity instruction at point of placement, and the bank will automatically act on your instruction upon maturity of your deposit:

    • Roll over the principal and interest;
    • Withdraw the principal and interest; or
    • Roll over the principal and withdraw the interest.

  7. Will I know the interest rates for my SGD Fixed Deposit placement?

    Yes, you will be shown the prevailing FCFD interest rate and foreign exchange rate at the point of your transaction.