DBS Bank has revised its savings account interest rates effective from September 26, 2022. The bank will offer interest rates ranging between 3.5% and 5%.

According to the DBS Bank website, below are the interest rates for digital savings accounts and digibank e-wallet.

According to website, “Interest rate up to 25th Sep 2022 is:

“Domestic 3.25% p.a on balance upto Rs. 1 lakh; 3.5% p.a on balance above Rs. 1 lakh and upto Rs. 2 lakhs; 4.00% p.a on balance above Rs. 2 lakh and upto Rs. 5 lakhs; 3.00% p.a on balance above Rs. 5 lakh and upto Rs. 5 Crs and 3.75% on balance above Rs. 5 Crs.

Interest will be paid at quarterly intervals or on any other intervals determined by the Bank from time to time. Interest will be determined on the basis of the daily available balance, as required by the regulator, or as a consequence of the bank’s own choice.

The rate of interest on digital Savings accounts is subject to vary at the discretion of the bank and/or in compliance with RBI directives, as per the bank.

If the balance in the savings account is Rs 5 Crores 60 Lakh, then the Savings Account Interest will be calculated as follows: