DBS interest rates reduced to 4 percent now.

DBS interest rates reduced to 4 percent now.

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Deal Newbie
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https://www.dbs.com/digibank/in/rates-and-fee...ge

Now DBS bank interest reduced to just 4 percent from 1st February 2020. From 7 percent slowly it came down to 4 %.

What’s more to expect now?

Expiring In 1 day
12 Comments  |  
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Deal Subedar
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3.5%

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Deal Lieutenant
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what is the meaning by “Any balances over and above Rs. 1 lakh and up to Rs. 2 lakhs will get 7% on the incremental amount”
i have 1 lakh in my DBS account will i get 7% or 5% ?

now time to withdraw money from DBS from 1 FEB.

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Deal Cadet
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s_u_r wrote:

what is the meaning by “Any balances over and above Rs. 1 lakh and up to Rs. 2 lakhs will get 7% on the incremental amount”
i have 1 lakh in my DBS account will i get 7% or 5% ?

now time to withdraw money from DBS from 1 FEB.

It means, if you 1.25 lakhs in your account, you will get 4% on 1 lakh and 7% on 25000.

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Deal Cadet
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Its waste maintaining the account, except for the reasons they keep sending promotions like if you deposit and transaction for minimum amount on debit card they will give BMS vouches but that will come after 6 months. I was just looking an option to close the main account no use now.

Cropped708738981
Deal Cadet
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Open IDFC first bank account now, they are giving 7% on saving account and best bank among others.

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Deal Lieutenant
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s_u_r wrote:

what is the meaning by “Any balances over and above Rs. 1 lakh and up to Rs. 2 lakhs will get 7% on the incremental amount”
i have 1 lakh in my DBS account will i get 7% or 5% ?

now time to withdraw money from DBS from 1 FEB.

Incremental deposit linked interest
first 1 Lakh – 4%
next 1 Lakh – 7%
next 3 Lakh – 5%
above that – 4%
So if you put 5 Lakh you will get 1×4% + 1×7% + 3×5%

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Deal Newbie
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IDFC requires min bal of 25000 per month. Also there are too many charges on small small things.

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Deal Subedar
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Well, DBS is a zero balance account with no charges on anything, be it debit card or any other thing. That’s their USP I believe.
However the moment they start applying any nonsensical charges, which they may, considering the way they’re decreasing the ROI, There will be mass closure of Bank accounts for DBS I believe.

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Deal Newbie
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How is kotak811?
Any other 811s?

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