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:

  1. *Interest rate revised as above w.e.f. 1st July 2020.
  2. *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.
  3. Interest will be paid at quarterly rests or on any other rests as the Bank may decide from time to time.
  4. Interest will be calculated on daily available balance or as required by the regulator or as a result of banks own decision.
  5. 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. 17th September, 2020

  Fixed Deposits Recurring Deposits
90 days 2.75% 2.75%
91 to 180 days 3% 3%
181 to 269 days 3.1% 3.1%
270 to less than 1 year 3.25% 3.25%
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.

 

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.

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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
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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
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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
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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#
  • USD to USA
  • GBP to United Kingdom
  • AUD to Australia
  • EUR to Eurozone
  • HKD to Hong Kong
  • SGD to Singapore
  • CAD to Canada
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:

  1. All monetary values given in Indian Rupees unless otherwise specified.
  2. ^^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.
  3. Goods and Service Tax (GST) will be levied by the bank over and above all the charges.
  4. The bank reserves the right to change these rates/charges or re-negotiate them depending upon relationship of a customer.
  5. 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.
  6. 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.
  7. Total Relationship Value (TRV) is across all accounts in a family and calculated by aggregating average quarterly saving account balances and end of period term deposits and investments.
  8. 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.
  9. 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.
  10. 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.