Time Deposit

"Eligible New Funds" refers to the incremental balance when comparing the Customer's Deposit Balance at the time of time deposit placement to his/her corresponding Deposit Balance as of 30 calendar days ago, after deduction of the sum of principal amount that has been entitled to the Online Time Deposit New Funds Offer within the last 7 calendar days.

The calculation of "Deposit Balance" is the total of saving deposits of Hong Kong dollar and/or foreign currencies that the Customer maintains with the Bank in his/her Current and Savings Accounts including time deposits, regardless of whether it is solely or jointly owned by the Customer. For the avoidance of doubt, the saving deposits in Wealth Management Accounts shall not count towards the calculation of Deposit Balance.

Calculation of Eligible New Funds

"Eligible New Funds" = (A) Deposit Balance of all currencies at the time of time deposit placement – (B) Deposit Balance of all currencies as of 30 calendar days ago – (C) Sum of principal amount that has been entitled to the Online Time Deposit New Funds Offer within the last 7 calendar days.

Assumptions:

Today is 31 Mar 2024, and customer's deposit transactions within the last 30 calendar days are as below.

Calculation method

31 Mar 2024 New Fund Amount

Customers can only use the Current, Savings, Save & Cheque or Multi-Currency Saving Account as the source of funds account or receiving account for online time deposit.

The new funds amount is calculated across all currencies in Hong Kong dollar equivalent. For online foreign currency time deposit, the amount will be determined in Hong Kong dollar based on the exchange rate at the time of placement.

Customer can deposit funds via DBS digibank HK app or a branch.

It is suggested to make deposit via DBS digibank HK app using FPS or eDDA to enjoy the offer instantly.

If you deposit money at a branch, the availability of funds will be subject to clearance day requirement. For details, please visit DBS' website > "Help & Support" > "Banking" > "Cheque clearing time".

Yes, customers can modify the maturity instruction during the period from 1 working day after the placement to 1 working day prior to the maturity date via DBS digibank HK / DBS iBanking/ branch. You cannot amend your maturity instruction on maturity date.

You will receive an email advice on the next calendar day after changing the maturity instruction.

The principal and/or interest on your time deposit will be credited to your designated account before the end of the maturity date of time deposit.

Starting from 17 Jan 2023, online time deposit will be auto-renewed at the preferential interest rate for existing funds. On maturity, if the currency, tenor or principal amount is not eligible for the preferential interest rate, board rate will be used as the auto-renewal interest rate. For the avoidance of doubt, any online time deposit set up before 17 January 2023 will continue to be renewed at board rate. If you want to renew it at preferential interest rate, please amend your maturity instruction as "Transfer Principal and interest to designated account", and place a new online time deposit with "Renew Principal" or "Renew Principal and Interest" being the maturity instruction.

Customers are required to pay a fee for premature withdrawal of Time Deposit. Please refer to the latest Bank Charges Schedule (DBS Account and Treasures customers).

DBS Website > "Quick Links" > "Rates and Fee Schedule" > "Bank Charges Schedule (DBS Account and Treasures customers)"

If you wish to withdraw your time deposit early, please visit any of our branches.

When you place an online time deposit or change the time deposit maturity instruction, an email advice will be sent to your email address registered with our Bank. The email advice is an electronic receipt to record your online time deposit transaction.

No subscription is needed but you should have a valid email address registered with the Bank by the time you place an online time deposit. For all Time Deposits placed online, email advice will be enabled for you automatically to replace the paper advice

Your email address with the Bank may be invalid. Please refer to "Help & Support"> "Banking"> "Update new email address for my bank account" to understand how to check and update your email address through DBS iBanking. Also, your Time Deposit transaction history is available on DBS digibank HK and DBS iBanking for viewing:

DBS digibank HK: "Home" > "Deposits"

DBS iBanking: "My Accounts" > "Deposits"

You will receive email advice on the next calendar day after your online time deposit transaction, including placement, renewal and withdrawal (mature or premature), is completed.

You will receive an email advice for your online time deposit transactions and a paper advice for your time deposits placed at a branch.

The customer who placed the online time deposit will receive the email advice.

You are required to have an account with the Bank before you can place an online time deposit with us.