DBS Taiwan launches 1-month high-interest foreign currency deposit plan
By Kathryn Chiu, The China Post
December 25, 2013, 12:18 am TWN
TAIPEI, Taiwan -- DBS Taiwan has launched a 1-month multiple foreign currency time deposit plan, with the annual interest rate of 1.9 percent for U.S. dollars, 2.9 percent for renminbi (RMB) and 3.9 percent for Australian dollars.
As the Lunar New Year vacation is drawing near, DBS Taiwan on Tuesday said it has launched New Taiwan dollar and multiple foreign currency deposit plans that run until Feb. 27.
Head of Consumer Banking at DBS Taiwan Seraph Sun (孫可基) indicated that the deposit plans offer short-term deposit safe havens for a festive February.
Sun said the 1-month U.S. dollar, RMB and Australian dollar time deposit plans generate annual interest rates of 1.9 percent, 2.9 percent and 3.9 percent, respectively, passing market levels by 1.7, 1.65 and 1.3 percentage points. DBS Taiwan added that the deposit of the newly launched foreign currency deposit plans starts at a minimum NT$500,000 worth and is capped at an equivalent of NT$3 million.
Current customers can use their balance or remit extra fund in DBS Taiwan accounts to apply for the new multiple foreign currency time deposit plans.
Regarding 1-month New Taiwan dollar time deposits plans, current customers of DBS Taiwan's high-interest New Taiwan dollar deposit plans are eligible to apply for the 1-month time deposits plan which offers an annual interest rate of 1.45 percent.
Sun said that a deposit of the newly launched 1-month New Taiwan dollar deposit plan starts at the minimum of NT$1 million and is capped at NT$3 million.