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 5% on the incremental amount* | |
| Any balances over and above Rs. 2 lakhs and up to Rs. 20 lakhs will get 3.50% 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 4% on the incremental amount thereon |
Note:
- *Interest rate revised as above w.e.f. 1st July 2020.
- *Interest rate up to 30th June 2020 is: 3.50% p.a on balance upto Rs. 1 lakh; 6% p.a on balance above Rs. 1 lakh and upto Rs. 2 lakhs; 4% p.a. on balance above Rs. 2 lakhs and upto Rs. 5 lakhs; and 4% p.a on balance above Rs. 5 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. 27th July, 2020
| Fixed Deposits | Recurring Deposits | |
|---|---|---|
| 90 days | 3.3% | 3.3% |
| 91 to 180 days | 3.45% | 3.45% |
| 181 to 269 days | 3.8% | 3.8% |
| 270 to less than 1 year | 4% | 4% |
| 1 year to 375 days | 4.15% | 4.15% |
| 376 days to less than 2 years | 4.15% | 4.15% |
| 2 years & less than 2 years 6 months | 4.35% | 4.35% |
| 2 years & 6 months | 4.35% | 4.35% |
| 2 years 6 months 1 day & less than 3 years | 4.35% | 4.35% |
| 3 years and less than 4 years | 4.7% | 4.7% |
| 4 years to less than 5 years | 4.9% | 4.9% |
| 5 years and above | 5.2% | 5.2% |
To book a deposit for tenure less than 90 days, please visit the nearest DBS Branch.
Miscellaneous Fees
| digiSavings | digibank e-wallet | |
|---|---|---|
| Account closure (within 6 months of opening) | 500 | – |
| Debit card replacement (lost, stolen, damaged) | 150 | – |
| Debit card annual fee (second year onwards) | 150 | – |
| International cash withdrawal | 125 | – |
| International balance enquiry/non financial transactions | 25 | – |
| Domestic cash withdrawal on non-DBS ATMs | 20 (chargeable after first 5 free transactions p.m.) | – |
| Domestic balance enquiry/non financial transactions on non-DBS ATMs | 8.5(chargeable after first 5 free transactions p.m.) | – |
| FX Markup | 3.5% | – |
| Ad hoc balance/TDS/interest certificates | 75 | – |
| Ad hoc issuance of miscellaneous certificates | 75 | – |
| Investments in Mutual Fund through digbank – Transaction Fees* | Nil | – |
All monetary values given in Indian Rupees unless otherwise specified.
Fund Transfers Fees
| digiSavings | digibank e-wallet | |
|---|---|---|
| Credit to DBS or digibank account from an overseas bank | 25 | – |
| Credit to DBS or digibank account from DBS Singapore | 25 | – |
| Cashier’s order/payment order/payable at par demand draft | 30 | – |
| Revalidation/reissuance of payment order/demand draft | 30 | – |
| Cancellation of DBS payment order/demand draft | 100 | – |
All monetary values given in Indian Rupees unless otherwise specified.
Demand Draft (DD) Issuance Fees
| Fee | Limits | |
|---|---|---|
| At an RBI location | 0.05% | Min. 75 Max. 2000 |
| Non-RBI location (correspondent bank Cat I) | 0.05% | Min. 75 Max. 2000 |
| Any other location not covered by the correspondent bank – purchase | 0.05% | Min. 75 Max. 2000 |
| Cancellation of correspondent bank DD | 0.05% | Min. 75 Max. 2000 |
| Revalidation/reissuance of DD – per instruction | 0.05% | Min. 75 Max. 2000 |
| Stop payment for lost DD – per instrument | 25 | – |
| DD issuance in foreign currency | 0.10% | Min. 75 Max. 2000 |
| Cancellation of foreign currency DD | 750 | – |
| Courier charges | 50 | – |
| Remote location payment – payable at correspondent bank location | 30 | Plus courier charges, if any |
All monetary values given in Indian Rupees unless otherwise specified.
Important note:
- 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.
- Goods and Service Tax (GST) will be levied by the bank over and above the charges.
- The bank reserves the right to change these rates/charges or re-negiotiate them depending upon relationship of a customer.
- * Please go through the Bank’s website www.dbs.com/in for the updated commission structure payable to the Bank by AMCs for different competing schemes of various Mutual Funds.
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.