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The DBS fixed deposit rate is one of the most searched numbers in Singapore personal finance, mostly because DBS is the bank where many of us already keep our salary and savings. In this guide I explain what the current DBS fixed deposit rate looks like, how DBS decides which rate you receive, how to place and withdraw a fixed deposit, and where DBS fits against other banks. Every product term below comes from DBS’s own support pages, and every rate figure comes from the official bank pages that I used for my October 2026 roundup. Rates change, so I always check the live DBS rate table before placing money, and I link to it below.
A fixed deposit, also known as a time deposit, locks a lump sum with the bank for a chosen period in return for an interest rate that is agreed upfront. The trade is simple. I give up access to the cash for the tenure, and in return the bank pays a predictable return that does not move with the stock market. That predictability is the whole point of the product.
What the DBS Fixed Deposit Rate Looks Like Right Now
In my October 2026 roundup, which takes every rate from the bank’s own page, the DBS board rate for Singapore dollar fixed deposits stood at 1.00 percent per annum for tenures of 8 to 12 months on placements from S$1,000 to S$19,999. For deposits of S$20,000 or more, the same roundup recorded just 0.05 percent per annum. POSB, which is a DBS brand, mirrored the same board rate, and DBS had not announced a promotional revision at that time.
Those two numbers carry the whole story of the DBS fixed deposit rate. DBS pays its best board rate on small placements, and the rate falls sharply once a balance crosses S$20,000. I looked into the reasons behind the ceiling in my post on why DBS fixed deposit rates are only 1 percent.
DBS publishes its live Singapore dollar rate table on its official rates page. I treat that page, and not any article including this one, as the final word on today’s rate.
How DBS Decides Which Rate You Get
DBS states that the interest rate for new Singapore dollar placements and renewals is worked out from the total Singapore dollar fixed deposit balance in the account, not from each placement on its own. This detail matters more than it looks. DBS gives its own example of an account that already holds S$19,999 and receives a new placement of S$40,000. The account balance becomes S$59,999, so the new placement earns the rate for a S$59,999 balance rather than the rate for S$40,000 alone.
DBS also explains that separate accounts are assessed separately. In another of its examples, a person holds S$50,000 in a single name fixed deposit account and another S$50,000 in a joint account. Because these are different accounts, each one is assessed on its own balance rather than on the combined S$100,000.
Putting this together with the DBS fixed deposit rate table from my October roundup, a balance that reaches S$20,000 would be assessed in the S$20,000 and above band. I would therefore check the live table before adding to an existing account, because one extra placement could push that placement, and later renewals, into a lower paying band.
Minimum Deposit, Tenures, and Currencies
According to DBS, a Singapore dollar fixed deposit starts from S$1,000, with tenures available from 1 month onwards. A foreign currency fixed deposit needs the equivalent of S$5,000, with tenures from as short as 1 day. DBS lets me hold both Singapore dollar and foreign currency placements within the same fixed deposit account, and it supports 11 currencies in total: the Singapore dollar, US dollar, Hong Kong dollar, British pound, Canadian dollar, offshore Chinese yuan, Australian dollar, euro, Japanese yen, New Zealand dollar, and Swiss franc. The Swiss franc is limited to DBS Treasures Private Clients and DBS Private Banking Clients.
DBS also offers the Premier Income Account, a Singapore dollar fixed deposit with a minimum of S$10,000 and tenures from 6 months onwards. I would read DBS’s own page on its eligibility and current rate before considering it.
Foreign currency fixed deposit rates follow prevailing rates rather than the Singapore dollar table, and DBS publishes them on a separate foreign currency rates page.
How I Would Place a DBS Fixed Deposit
The process runs through digibank, which is the DBS banking app and website. DBS’s account opening page lists the fixed deposit account among the accounts that an existing DBS or POSB customer can open in digibank, and new customers can start with a My Account or a Multiplier Account first.
Once I hold a fixed deposit account, the steps on digibank mobile are straightforward. I log in, choose Deposits, tap the fixed deposit account, and select Place Fixed Deposit. I then choose the account to transfer from, the currency, the amount, and the placement period, and I pick a maturity instruction. After reviewing the details, I tap Place now and then Submit. The full steps, including the online version, are on DBS’s fixed deposit placement page.
DBS lists Singapore dollar placements on digibank mobile as available from 3:00 am to 11:30 pm daily, with a shorter window on the last working day of each month that ends at 8:30 pm. Foreign currency placements run only on working days, and the hours differ by channel, so I plan those around the calendar.
What Happens at Maturity
This is the part that catches many savers. DBS renews a matured placement automatically, with both the principal and the interest, for the same tenor at whatever the prevailing rate is on the day, unless I give other instructions at least 1 working day before maturity through digibank. Changes are not allowed on the maturity day itself. If rates have dropped since I placed the deposit, an unattended auto-renewal quietly locks in the lower rate for another full tenure.
The maturity options include withdrawing both the principal and the interest, or renewing the principal and withdrawing the interest. On digibank mobile I can change my instruction by choosing Deposits, tapping the fixed deposit account, selecting the placement, and tapping Manage followed by Change. DBS explains the steps on its maturity instructions page. I would put the maturity date in my calendar a week early so that I have time to decide.
Withdrawing Early From a DBS Fixed Deposit
Early withdrawal is allowed but expensive. For a Singapore dollar placement withdrawn before maturity, DBS calculates the interest at the bank’s lowest applicable deposit rate, which is subject to change. For a foreign currency placement, no interest is payable at all. DBS does not allow a withdrawal on the maturity date or on the day before it.
For Singapore dollar placements, DBS shows the interest I would receive before I confirm the withdrawal in digibank online, under Placements and then Manage and Withdraw. The service may be unavailable late at night, and foreign currency fixed deposits and Supplementary Retirement Scheme Singapore dollar fixed deposits are not eligible for this online service. A foreign currency withdrawal requires a visit to a full service branch with an identity card or passport. The details are on DBS’s premature withdrawal page.
My practical takeaway is that money in a DBS fixed deposit should be money I will not need before the maturity date.
How DBS Compares With Other Banks
Because the DBS fixed deposit rate is the lowest in the table below, the sensible question is not whether DBS is good in isolation but whether its convenience is worth the gap. The table uses the 12 month rates from my October 2026 roundup, each taken from the bank’s own page in early October. Promotions change every month, so my Best Fixed Deposit Rates in Singapore page is the place to look for current numbers.
| Bank | 12 Month Rate Per Annum | Minimum Deposit | Note |
| DBS | 1.00% (8 to 12 months) | S$1,000 | Board rate, 0.05% from S$20,000 |
| CIMB | 1.95% | S$10,000 | Online promotion from 1 October 2026 |
| RHB | 1.90% (Personal Banking) | S$20,000 | No relationship balance required |
| Maybank | 1.85% (standalone) | S$20,000 | No bundling required |
| UOB | 1.70% | S$10,000 | Fresh funds, promotion until 31 October 2026 |
| OCBC | 1.65% online, 1.60% branch | S$20,000 | Fresh funds |
On a S$10,000 placement for 12 months, 1.00 percent earns about S$100 in interest, while 1.95 percent earns about S$195. The gap is about S$95 a year. That is real money on a small placement, but it may not be worth chasing if I would rather keep everything in one bank.
Who a DBS Fixed Deposit Suits
A DBS fixed deposit makes the most sense for a smaller placement, for someone who already uses digibank every day and values having everything in one app, and for a saver who wants a Singapore dollar deposit inside the same bank as the salary account. It makes less sense for a larger placement, because the DBS fixed deposit rate for S$20,000 and above in my October roundup was only 0.05 percent. It also makes less sense for anyone chasing the highest rate in the market, where CIMB, RHB, Maybank, and UOB all paid noticeably more.
If I wanted a higher rate on the cash I keep at DBS without locking it up, the DBS Multiplier Account is the other DBS product worth comparing. If I were comparing DBS against government products rather than other banks, I would also look at Singapore Treasury Bills and my comparison of Singapore Savings Bonds versus savings accounts versus fixed deposits.
Frequently Asked Questions
What is the current DBS fixed deposit rate?
In my October 2026 roundup, the DBS fixed deposit rate was 1.00 percent per annum for 8 to 12 months on placements from S$1,000 to S$19,999, and 0.05 percent per annum from S$20,000. The live figure is always on DBS’s own rate page, so I check that before I place any money.
Is a DBS fixed deposit safe?
Singapore dollar fixed deposits with DBS are covered by the Singapore Deposit Insurance Corporation for up to S$100,000 in aggregate per depositor per scheme member, according to the frequently asked questions on the SDIC website. The scheme covers Singapore dollar deposits, so a foreign currency fixed deposit is not protected in the same way.
Can I place a DBS fixed deposit in US dollars?
Yes. DBS supports US dollar placements among its 11 currencies, with a minimum of S$5,000 equivalent and tenures from 1 day. The rate follows DBS’s prevailing foreign currency rates, so I would check the foreign currency rates page rather than assume the Singapore dollar table applies. I would also keep in mind that converting from one foreign currency to another can create a gain or a loss from exchange rates. DBS suggests selecting the same currency as the deposit to avoid this.
Can I renew my DBS fixed deposit for a different tenor?
Yes. In digibank online I can change the maturity instruction and select a new renewal period, as long as I do it at least 1 working day before the maturity date.
In short, the DBS fixed deposit rate of 1.00 percent per annum in October 2026 is a convenience rate and not a competitive one. It works best for small placements by people who already live inside digibank. For anything larger, or for anyone who wants the highest return, I would compare the live rates across banks first, and I would set a calendar reminder before every maturity date so that an auto-renewal never makes the decision for me.