DBS 1 Year Fixed Deposit Calculator | Calculate Your Returns (SGD)
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DBS 1 Year Fixed Deposit Calculator
About DBS 1-Year Fixed Deposit Rates
Fixed deposits (FDs) are a low-risk investment option favored by many Singaporeans to grow their savings. A DBS 1 Year Fixed Deposit involves locking away a specific sum of money (the principal) for a tenure of 12 months. In return, the bank pays a fixed interest rate, which is typically higher than a standard savings account.
This calculator helps you estimate the total interest yield and the maturity value of your deposit based on the interest rate applicable at the time of placement.
Key Factors Affecting Your Return
- Principal Amount: The amount of Singapore Dollars (SGD) you deposit. DBS often has different rate tiers for amounts below S$20,000 and amounts S$20,000 and above.
- Fresh Funds vs. Rollover: DBS frequently offers higher promotional rates for "Fresh Funds." Fresh funds refer to money transferred from other banks or via Cheque/Cashier's Order, rather than funds transferred from existing DBS/POSB accounts.
- Tenure: While this calculator focuses on the 1-year (12-month) tenure, rates differ for 6-month or 24-month placements.
How the Calculation Works
The formula for calculating the interest on a 1-year fixed deposit is straightforward because the tenure matches the annual interest rate timeline exactly.
Formula:
Interest Earned = Principal × (Annual Rate / 100)
Maturity Value = Principal + Interest Earned
Example Calculation
If you deposit S$20,000 at a promotional rate of 3.20% p.a. for 1 year:
- Principal: S$20,000
- Rate: 3.20%
- Interest Calculation: 20,000 × 0.032 = S$640
- Total at Maturity: S$20,640
Current Market Context (Singapore)
Interest rates fluctuate based on the economic environment and MAS regulations. When using this calculator, ensure you check the official DBS website or your Digibank app for the latest board rates or promotional codes. Often, placing an FD online (via Digibank) yields a better rate than doing so at a branch.
Disclaimer: This calculator is a tool for estimation purposes only and does not constitute financial advice. The results are not a guarantee of returns from DBS Bank or any other financial institution. Actual interest rates and terms are subject to change by the bank without notice. Please verify all rates directly with DBS Bank before making a deposit.
function calculateFixedDeposit() {
// 1. Retrieve Input Values
var principalInput = document.getElementById('principalAmount');
var rateInput = document.getElementById('interestRate');
var resultDiv = document.getElementById('result');
var principal = parseFloat(principalInput.value);
var rate = parseFloat(rateInput.value);
// 2. Validation
if (isNaN(principal) || principal <= 0) {
alert("Please enter a valid principal amount greater than 0.");
return;
}
if (isNaN(rate) || rate < 0) {
alert("Please enter a valid interest rate.");
return;
}
// 3. Calculation Logic for 1 Year (12 Months)
// Formula: Principal * (Rate / 100) * 1 (year)
var interestEarned = principal * (rate / 100);
var maturityAmount = principal + interestEarned;
// 4. Formatting Currency (SGD)
var formatter = new Intl.NumberFormat('en-SG', {
style: 'currency',
currency: 'SGD',
minimumFractionDigits: 2,
maximumFractionDigits: 2
});
// 5. Build Result HTML
var outputHTML = '';
outputHTML += '
Principal Deposit: ' + formatter.format(principal) + '
';
outputHTML += '
Interest Rate (1 Year): ' + rate.toFixed(2) + '%
';
outputHTML += '
Total Interest Earned: ' + formatter.format(interestEarned) + '
';
outputHTML += '
Total Maturity Amount: ' + formatter.format(maturityAmount) + '
';
// 6. Display Result
resultDiv.style.display = 'block';
resultDiv.innerHTML = outputHTML;
}