DBS Foreign Currency Fixed Deposit Rate (September 2026)
Updated rates, cross-bank comparisons, and everything Singapore investors need to know.
DBS Bank offers foreign currency fixed deposits in 11 currencies, with USD rates currently ranging from 3.10% p.a. (1 month) to 3.59% p.a. (12 months) as at September 2026. These deposits let you earn interest on foreign currency you already hold — but unlike SGD fixed deposits, they are not covered by SDIC deposit insurance, and currency risk can easily outweigh the interest earned if you are converting from SGD. DBS is one of the more convenient options for Singapore investors who already bank with them, offering placement entirely through digibank with no branch visit required.
Not financial advice. All figures are for educational reference only. Data as at September 2026 unless noted.
- DBS USD FD rates: 3.10%–3.59% p.a. depending on tenor (Sep 2026). 3-month is the most popular at 3.51%.
- No SDIC protection on foreign currency FDs — understand the currency risk before converting SGD.
- Bank of China and CIMB offer slightly higher promo rates, but DBS wins on convenience for existing customers.
What is a Foreign Currency Fixed Deposit?
A foreign currency fixed deposit (FCFD) works just like a regular fixed deposit — you lock in a sum of money for a fixed period and earn a guaranteed interest rate. The key difference is that the deposit is held in a foreign currency, such as USD, GBP, or AUD, instead of Singapore dollars.
For example, you might deposit $10,000 USD at DBS for 3 months at 3.51% p.a. At maturity, you’d receive back your $10,000 USD principal plus about $87.75 USD in interest. Simple enough. But here’s the catch: if you started with SGD and converted to USD to make this deposit, your actual return in SGD depends on where the exchange rate sits at maturity. If USD weakens against SGD during those 3 months, you could end up worse off than just leaving your money in a regular SGD savings account.
Foreign currency FDs make the most sense for people who already hold the foreign currency — for instance, if you earn USD from overseas clients, receive foreign dividends, or are saving up for an overseas purchase. In those cases, you’re not taking on new currency risk. You’re simply earning interest on a currency you’d be holding anyway.
DBS offers FCFDs through its Multi-Currency Account (MCA), which can hold 13 foreign currencies alongside SGD.
DBS USD Fixed Deposit Rates (September 2026)
USD is the most popular currency for foreign currency FDs in Singapore. Here are DBS’s current board rates for USD fixed deposits:
| Tenor | Rate (p.a.) | Interest on $10,000 USD |
|---|---|---|
| 1 Month | 3.10% | ~$25.83 USD |
| 2 Months | 3.25% | ~$54.17 USD |
| 3 Months | 3.51% | ~$87.75 USD |
| 4 Months | 3.40% | ~$113.33 USD |
| 6 Months | 3.45% | ~$172.50 USD |
| 9 Months | 3.50% | ~$262.50 USD |
| 12 Months | 3.59% | ~$359.00 USD |
Source: StashAway Singapore rates comparison, data as at 1 September 2026. Board rates; subject to change. Interest calculated on simple interest basis.
The 3-month tenor typically offers the best balance of rate and flexibility. If you’re a DBS Treasures client (investable assets of S$350,000+), you may be eligible for preferential rates above the board rates shown here — it’s worth calling your relationship manager before placing a large deposit.
Other Currencies Available at DBS
Beyond USD, DBS offers foreign currency FDs in 10 other currencies. The table below shows indicative rate ranges — exact rates depend on tenor and prevailing market conditions. Always verify current rates in DBS digibank or on the DBS website before placing a deposit.
| Currency | Indicative Rate Range (p.a.) | Notes |
|---|---|---|
| GBP (British Pound) | 3.20%–4.10% | Bank of England rate environment |
| EUR (Euro) | 2.50%–3.20% | ECB rate environment |
| AUD (Australian Dollar) | 3.50%–4.20% | RBA rate environment; popular in SG |
| NZD (New Zealand Dollar) | 3.30%–4.00% | RBNZ rate environment |
| CAD (Canadian Dollar) | 3.00%–3.80% | Bank of Canada rate environment |
| HKD (Hong Kong Dollar) | 3.00%–3.50% | Pegged to USD; similar rates |
| JPY (Japanese Yen) | 0.10%–0.30% | Very low due to BoJ policy |
| CHF (Swiss Franc) | 0.50%–1.20% | SNB policy; lower rate environment |
| CNH (Offshore RMB) | 1.50%–2.50% | PBoC influenced; offshore market |
| THB (Thai Baht) | 1.00%–1.80% | BoT policy; niche use case |
Source: Indicative ranges based on prevailing central bank rates, September 2026. Check DBS digibank for current board rates.
AUD and GBP are the most popular foreign currency FD choices among Singapore investors after USD, given their relatively high interest rates. JPY FDs are rarely worth placing unless you specifically need yen — at 0.1%–0.3% p.a., the currency risk massively outweighs the interest earned.
How DBS Compares to Other Banks (USD, September 2026)
DBS is competitive for USD fixed deposits, but it’s not always the highest rate on the market. Here’s how the major Singapore banks stack up for 3-month USD fixed deposits:
| Bank | 3-Month Rate (p.a.) | Min Deposit | Note |
|---|---|---|---|
| Bank of China (Promo) | 3.75% | $2,000 USD | Mobile promo, new funds |
| CIMB (Online Promo) | 3.75% | $10,000 USD | Online-only promo |
| ICBC | 3.70% | $500 USD (e-Banking) | Very low minimum |
| DBS | 3.51% | S$5,000 equiv. | Board rate; no promo hoops |
| SBI | 3.25% | $5,000 USD | Simple, no tiering |
| UOB | 3.25% | $5,000 USD | Higher tiers for $250k+ |
| OCBC | 3.03% | $5,000 USD | Better rates at higher tiers |
Source: StashAway Singapore, 1 September 2026. Promotional rates are time-limited; board rates subject to change.
DBS sits mid-table on raw rate, but that’s not the whole story. DBS wins on convenience. If your salary goes into a DBS/POSB account, or you already use digibank, placing a foreign currency FD takes about 3 minutes with no paperwork. If you’re purely chasing the highest USD yield and don’t mind switching banks, Bank of China, ICBC, and CIMB’s online promo are worth checking.
For a full comparison of DBS’s SGD fixed deposit rates, see TKN’s DBS Fixed Deposit Rate Singapore guide.
Key Risks You Must Understand
Foreign currency fixed deposits come with two risks that SGD fixed deposits don’t have. You need to understand both before committing any money.
1. Currency Risk
Let’s say you deposit S$50,000 worth of USD today at an exchange rate of 1 USD = 1.35 SGD. You convert to approximately $37,037 USD and earn 3.51% p.a. over 3 months. At maturity, you get back roughly $37,361 USD.
Now, if the USD has weakened to 1 USD = 1.30 SGD by then, your $37,361 USD is only worth about S$48,569 — a net loss of S$1,431 despite earning interest. Currency moves of 5–10% in a year are completely normal. This is not a hypothetical edge case.
2. No SDIC Protection
SGD deposits at DBS are protected by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor per institution. Foreign currency deposits are explicitly excluded from SDIC coverage — regardless of which bank you use.
How to Open a DBS Foreign Currency Fixed Deposit
- Log in to DBS digibank (mobile or web)
- Go to Invest → Fixed Deposits → Foreign Currency
- Select your currency (USD, GBP, AUD, etc.)
- Enter the amount (minimum S$5,000 equivalent)
- Select your tenor and review the rate — DBS shows your exact interest earned before you confirm
- Confirm. Your deposit is locked in at the displayed rate
If you don’t have the foreign currency in your DBS account, digibank converts your SGD at the prevailing retail FX rate. For large amounts, ask your relationship manager for a better FX rate before converting. New DBS customers will need to open a Multi-Currency Account (MCA) first.
Alternatives to Consider
- Singapore T-bills: Singapore T-bills 2026 offer government-backed SGD yields with no currency risk.
- USD money market funds: Products like StashAway’s USD Cash Yield (~3.7% p.a. YTM, Sep 2026) offer similar yields with daily liquidity and no lock-in.
- Syfe Cash+ Guaranteed: For SGD, Syfe Cash+ Guaranteed offers capital-guaranteed returns without currency risk. Use referral code SRPRFFFCD.
- Singapore Savings Bonds: Fully government-guaranteed with flexible redemption — see TKN’s Singapore Savings Bonds guide.
- Endowus: For longer-term USD or SGD investing, Endowus offers diversified fund portfolios. Referral code 2V343 for fee rebates.
- Passive income strategies: Explore passive income Singapore 2026 for a broader look at yield options.
Use TKN’s retirement planning calculator to model how different rates compound over time for your financial goals.
Frequently Asked Questions
What is the DBS foreign currency fixed deposit rate today?
As at September 2026, DBS offers USD fixed deposit rates from 3.10% p.a. (1 month) to 3.59% p.a. (12 months). The 3-month tenor is currently 3.51% p.a. These are board rates for standard deposits (minimum S$5,000 equivalent). DBS Treasures clients may be eligible for preferential rates above these figures. Rates change regularly — check DBS digibank or the DBS website before placing your deposit.
Are DBS foreign currency fixed deposits protected by SDIC?
No. Foreign currency deposits at DBS — and all Singapore banks — are not covered by SDIC. SDIC only protects SGD deposits up to S$100,000 per depositor per institution. Foreign currency deposits are explicitly excluded regardless of which bank you use. DBS is a Domestic Systemically Important Bank (D-SIB) subject to rigorous MAS oversight, but there is no government guarantee on your foreign currency deposit.
What is the minimum deposit for a DBS foreign currency fixed deposit?
The minimum deposit is S$5,000 equivalent in foreign currency for monthly and longer tenors placed via DBS digibank. If you don’t have the foreign currency in your DBS account, digibank converts your SGD at the prevailing retail FX rate. At a USD/SGD rate of 1.35, you’d need approximately $3,700 USD to meet the minimum.
Can I withdraw my DBS foreign currency FD early?
Early withdrawal is possible but typically comes with a penalty — DBS may pay a reduced rate or zero interest on the portion withdrawn early. In some cases, you may also pay the FX spread again on conversion back to SGD. Check DBS’s Terms and Conditions for your specific product. Only place funds in a foreign currency FD that you’re certain you won’t need before maturity.
Which currencies does DBS offer for foreign currency fixed deposits?
DBS offers foreign currency fixed deposits in 11 currencies: USD, GBP, EUR, AUD, NZD, CAD, HKD, JPY, CHF, CNH (Offshore RMB), and THB (Thai Baht). Rates and available tenors vary by currency — USD and AUD typically have the broadest range of tenors. JPY rates are near zero given Japan’s interest rate environment. Check DBS digibank for current rates across all currencies.
Is a DBS foreign currency FD better than a USD money market fund?
It depends on your priorities. A DBS USD foreign currency FD gives you a fixed, guaranteed rate for the tenor chosen — you know exactly what you’ll earn. A USD money market fund (like StashAway’s USD Cash Yield, ~3.7% p.a. YTM as at Sep 2026) offers daily liquidity with no lock-in, but the yield fluctuates. If flexibility is a priority, a money market fund wins. If you want certainty and already bank with DBS, an FD is convenient and predictable. For large amounts ($100,000 USD+), DBS’s preferential rates may be competitive.
This article was researched with the help of AI. While we strive to keep all information accurate and up to date, there may be errors. If you notice any discrepancies, please contact us.
