Rates and Fees
Account Interest Rates per annum
| digiSavings | digibank e-wallet |
|---|---|
| Balance up to Rs. 1 lakh will get 3.5% interest rates | No interest rates applicable |
| Any balances over and above Rs. 1 lakh and up to Rs. 2 lakhs will get 4% on the incremental amount* | |
| Any balances over and above Rs. 2 lakhs and up to Rs. 5 lakhs will get 4% on the incremental amount* | |
| Any balances over and above Rs. 5 lakhs and up to Rs. 20 lakhs will get 3.75% on the incremental amount* | |
| Any balances over and above Rs. 20 lakhs and up to Rs. 50 lakhs will get 3.75% on the incremental amount* | |
| Any balances over and above Rs. 50 lakhs will get 3.75% on the incremental amount thereon |
Note:
- *Interest rate revised as above w.e.f. 2nd Dec 2020.
- *Interest rate up to 1st Dec 2020 is: 3.50% p.a on balance upto Rs. 1 lakh; 5% p.a on balance above Rs. 1 lakh and upto Rs. 2 lakhs; 3.5% p.a. on balance above Rs. 2 lakhs and upto Rs. 20 lakhs; 3.75% p.a on balance above Rs. 20 lakhs and upto Rs. 50 lakhs and 4% on balance above Rs. 50 Lakhs.
- Interest will be paid at quarterly rests or on any other rests as the Bank may decide from time to time.
- Interest will be calculated on daily available balance or as required by the regulator or as a result of banks own decision.
- Rate of interest on digiSavings is subject to change from time to time at the discretion of the Bank and/or in accordance with directives from RBI.
Deposit Interest Rates
Rates w.e.f. 2nd December, 2020
| Fixed Deposits | Recurring Deposits | |
|---|---|---|
| 90 days | 2.75% | 2.75% |
| 91 to 180 days | 2.75% | 2.75% |
| 181 to 269 days | 3.00% | 3.00% |
| 270 to less than 1 year | 3.50% | 3.50% |
| 1 year to 375 days | 4.25% | 4.25% |
| 376 days to less than 2 years | 4.50% | 4.50% |
| 2 years & less than 2 years 6 months | 4.75% | 4.75% |
| 2 years & 6 months | 4.75% | 4.75% |
| 2 years 6 months 1 day & less than 3 years | 4.75% | 4.75% |
| 3 years and less than 4 years | 5.50% | 5.50% |
| 4 years to less than 5 years | 5.50% | 5.50% |
| 5 years and above | 5.50% | 5.50% |
To book a deposit for tenure less than 90 days, please visit the nearest DBS Branch.
Account Maintenance
| digiSavings | digibank e-wallet | |
|---|---|---|
| Monthly Average Balance (MAB) | INR 5,000 | – |
| Monthly charges for non-maintenance of balance^^ | INR 200 | – |
| Account closure (within 6 months of opening) | Free | – |
**Also refer to Important Points to Note.
Debit Card and ATM
| digiSavings | digibank e-wallet | |
|---|---|---|
| Debit card replacement (lost, stolen, damaged) | INR 150 | – |
| Debit card annual fee (second year onwards) | INR 150 | – |
| International cash withdrawal | INR 125 | – |
| International balance enquiry/non financial | INR 25 | – |
| DBS Bank ATM – Cash Withdrawal | Free | – |
| DBS Bank ATM – Domestic balance enquiry / non-financial transactions | Free | – |
| Non-DBS Bank ATM – Cash Withdrawal | Bal < INR 2 lacs: Metro - First 3 txns / Non-Metro - First 5 txns (Free) Bal > INR 2 lacs: Metro / Non-Metro - First 10 txns (Free) INR 20 (beyond free limit) | – |
| Non-DBS Bank ATM – Domestic balance enquiry / non-financial transactions | Bal < INR 2 lacs: Metro / Non-Metro - First 7 txns (Free) Bal > INR 2 lacs: Metro / Non-Metro - First 10 txns (Free) INR 8.5 (beyond free limit) | – |
| FX Markup | 3.5% for Classic Card 2.5% for Signature Card | – |
**Also refer to Important Points to Note.
Payment Services and Fund Transfer
| digiSavings | digibank e-wallet | |
|---|---|---|
| IMPS | Free | – |
| RTGS | Free | – |
| NEFT | Free | – |
| UPI P2P | Free | – |
| Credit to account from an overseas bank / International credit | INR 25 | – |
| Cashier’s order / payment order / payable at par demand draft | INR 30 | – |
| Revalidation / reissuance of payment order / demand draft | INR 30 | – |
| Cancellation of DBS payment order / demand draft | INR 100 | – |
| Cheque return charges | INR 200 | – |
| ECS / NACH / eNACH return charges | INR 200 | – |
| Standing Instruction creation | Free | – |
| Amendment of Standing Instruction | Free | – |
Demand Draft (DD) Issuance Fees
| Fee | Limits | |
|---|---|---|
| At an RBI location | 0.05% | Min. 75 Max. 2000 |
| Non-RBI location (correspondent bank Cat I) | 0.10% | Min. 75 Max. 2000 |
| Any other location not covered by the correspondent bank – purchase | 0.25% | Min. 75 Max. 2000 |
| Cancellation of correspondent bank DD | INR 100 | |
| Revalidation/reissuance of DD – per instruction | Cancellation charges INR 100 + DD issuance charges as given above | |
| Stop payment for lost DD – per instrument | INR 25 | |
| DD issuance in foreign currency | 0.10% | Min. 550 Max. 2000 |
| Cancellation of foreign currency DD | INR 750 | |
| Courier charges | Domestic - INR 50; Overseas - INR 1000 | |
| Remote location payment – payable at correspondent bank location | INR 30 + Courier charges, if any | |
Other Services
| Ad-hoc balance / TDS / Interest certificates and Miscellaneous certificates | INR 75 |
| Duplicate account statement | INR 75 |
| Telex / Swift Inquiry | Free |
| Postages (Regd Post) | Actuals |
| Investments in Mutual Fund through digibank – Transaction Fees* | Free |
| Internet Banking services | Free |
Remittances Fees and Charges
Please note below charges for online outward remittance / overseas transfer for following currency and country combinations.
| Currency and Country | Bank Fee | Agent Fees | GST# |
|---|---|---|---|
| Free | Not applicable | As applicable from time to time, will also be applied to your transaction |
| Any other currency / country combination | INR 500 | Agent fees, if applicable, will be charged* |
*Please note that there may be additional charges levied by intermediary or correspondent bank in some cases.
#GST (Goods & Service Tax) will be levied on the converted gross INR amount. This charge would be deducted from the amount to be paid to the beneficiary. Please find below slab wise GST structure and GST calculation for reference.
| Gross amount of currency exchanged | Derived Value on which GST will be charged | GST on derived Value (for rate@ 18% w.e.f July 1, 2017) |
|---|---|---|
| Up to INR 100,000 | 1% of gross amount exchanged, subject to minimum amount of INR 250 | INR 180 (For exchange amount of INR 1,00,000) |
| From INR 100,001 to INR 10,00,000 | INR 1,000 for Exchange amount of INR 1,00,000 plus 0.5% on remaining amount exchanged | INR 990 (For exchange amount of INR 10,00,000) |
| Above INR 10,00,000 | INR 5,500 for Exchange amount of INR 10,00,000 plus 0.1% on remaining amount exchanged, subject to maximum of INR 60,000 | INR 1,170 (For exchange amount of INR 20,00,000) |
Return charges
In case a payment is returned / rejected by the beneficiary bank, the return charges including correspondent banking charges, as applicable, will be levied and amount, net of these charges, will be credited back to your account at prevailing exchange rate.
Other charges - Some banks may apply a Tracer fees. If payment tracer is requested by the customer, applicable charges, will be applied by the intermediary or correspondent Bank / partner.
**Important Points to Note:
- All monetary values given in Indian Rupees unless otherwise specified.
- ^^Charges will be levied to the extent of shortfall in balance. For example, if the monthly balance maintained is INR 4,000 (required is INR 5,000), the charge levied will be 20% of the applicable charge (since the balance shortfall is 20%), i.e. INR 40.
- Goods and Service Tax (GST) will be levied by the bank over and above all the charges.
- The bank reserves the right to change these rates/charges or re-negotiate them depending upon relationship of a customer.
- Please go through the Bank’s website dbs.com/in for the updated commission structure payable to the Bank by AMCs for different competing schemes of various Mutual Funds.
- For Corporate Employee, charges such as Monthly Account Balance, Debit Card Annual Fee, ATM transactions, etc. may be waived based on the overall relationship consideration for the Corporate.
- Total Relationship Value (TRV) is across all accounts in a family and calculated by aggregating average monthly saving account balances and end of period term deposits and investments.
- For customers maintaining TRV >= INR 2 Lacs, charges will not be levied for Monthly Account Balance, Debit Card Annual Fee, ATM transactions and Payment services.
- Digisavings customers holding an outstanding loan product (personal loan or mortgage loan) with DBS shall not be charged for non-maintenance of Monthly Average Balance. Once the loan account is closed, digisavings customers will be required to maintain the required minimum Monthly Average Balance, failing which appropriate charge shall be levied as captured above.
- In case of insufficient balance in your bank account, bank will not be able to recover applicable fees and GST. GST related information will be available in Bank statement.
- Debit Card Annual Fee for a particular year will be waived off if a customer spends INR 50,000 or more in a membership year (one year from the date of issuance of the card) on the digibank Debit Card. Spends include domestic as well as international merchant transactions carried on the digibank Debit Card either via an Online channels or on physical POS. Spends do not include ATM withdrawals.
The above rates and fees is applicable from 1st October 2020. To view the erstwhile schedule of benefits, please click here.