DBS Bank hikes FD rates by 10-50 bps

1 min read . Updated: 10 Jun 2022, 07:49 PM IST Livemint

Short tenure FDs have seen a greater increase in rate. For instance, interest rate on 7-days FDs below ₹2 crore saw the greatest increase of 50 bps

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DBS Bank India on Friday announced the revision of rates on its Fixed Deposits (FDs). The rates have been revised upwards from 10 to 50 basis points (one basis point is one-hundredth of one percentage point).

Short tenure FDs have seen a greater increase in rate. For instance, interest rate on 7-days FDs below ₹2 crore saw the greatest increase of 50 bps with the revised interest rate standing at 4.5%.

“In addition, senior citizens will receive 50 bps over and above the new rates for deposits over 6 months," the bank said in its statement.

This is how the FD rates look

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