DBS Bank hikes savings rates by up to 5.5%: Here's what customers will get
DBS Bank says interest-calculation method ensures that customers benefit from daily fluctuations in their account balances
 "DBS Bank hikes savings rates by up to 5.5%: Here's what customers will get")
DBS Bank India has revised its savings account interest rates from May 9. This revision is beneficial for individuals maintaining account balances from Rs 5 lakh to Rs 50 lakh, said DBS Bank.
Interest rate of DBS Bank in 2025
The updated interest rates are structured in a tiered manner, ensuring that customers earn returns commensurate with their account balances:
- Up to Rs 2 lakh: 2.75 per cent per annum
- Above Rs 2 lakh to Rs 5 lakh: 3.25 per cent per annum
- Above Rs 5 lakh to Rs 50 lakh: 5.50 per cent per annum
- Above Rs 50 lakh: 4.00 per cent per annum
This tiered approach allows customers to maximise their earnings, especially those with mid-range deposits, said the bank.
Interest calculation for DBS savings accounts
DBS Bank calculates interest on a daily balance basis, crediting the accrued interest quarterly. This method ensures that customers benefit from the daily fluctuations in their account balances, leading to potentially higher returns over time.
How DBS Bank latest interest rates change helps account holders
The revised rates are particularly advantageous for customers maintaining balances between Rs 5 lakh and Rs 50 lakh, who will now earn 5.50 per cent per annum, a rate significantly higher than many competitors. This move comes at a time when several banks have reduced their savings account interest rates.
For non-resident account holders, the bank has set the interest rate at 3.00 per cent per annum for balances above Rs 2 lakh, while balances up to Rs 2 lakh will continue to earn 2.75 per cent per annum.