Best Fixed Deposit Rates & Promotions in Singapore

Bank interest rates in Singapore can change dramatically with promotional offers, which can make it difficult to keep up with the best rates currently available. We have identified the best fixed deposit rates promotions in Singapore, highlighting key factors that may influence your decision – deposit tenor, size requirement (placement amount), and interest rate per annum.

Valuechampion mailing list
Bank
  • Interest Rate (Per Annum)
TenorMinimum Placement
CIMB (SGD)3.55%6 monthsS$10,000
Hong Leong Finance3.30%6 monthsS$20,000
ICBC SGD Step-Up3.35%3 monthsS$500
OCBC3.10%6 monthsS$30,000
Standard Chartered3.10%6 monthsS$25,000
UOB3.10%6 monthsS$10,000
Promotions with highest interest rates shown; lower rates available for shorter tenors and/or smaller deposit placement amounts. Please see below for further details

Tenor

Bank with Best Rate
  • Interest Rate (Per Annum)
Deposit Range
1 mo.Bank of China2.75% p.a.>S$5,000
3 mo.HSBC3.88% p.a.>S$30,000
6 mo.Bank of China4.00% p.a.>S$5,000
6 mo.CIMB4.00% p.a.>S$10,000
9 mo.CIMB4.10% p.a.>S$10,000
12 mo.CIMB4.20% p.a.>S$10,000
18 mo.CIMB4.20% p.a.>S$10,000
24 mo.Bank of China3.90% p.a.>S$5,000

Shortcut To View Best Fixed Deposit By Bank

Maybank (SGD Time Deposit):
  • No current promotions available.
Maybank (iSAVvy):
  • Earn up to 3.75% for 12 months tenor, with a minimum deposit of S$20,000
Standard Chartered:
HSBC (Advance):
  • No current promotions available.
HSBC (Premier):
OCBC:
  • For both Cash and CPF fixed deposits: Earn up to 2.70% for 6-months tenor, with a minimum deposit of S$30,000
UOB:
ICBC:
  • Earn 3.30% p.a. on a 3-month fixed deposit and 3.20% on a 6-month, 9-month and 12-month fixed deposit by depositing a minimum of S$500 of fresh funds via e-banking
Hong Leong Finance:

Fixed deposit accounts are a low-risk form of investment that allow consumers to earn interest on funds placed with the bank for a predetermined or fixed–amount of time. They're one of the easiest forms of investing as you simply make your deposit, wait for the set period of time, and then reclaim your funds plus interest. Every bank offers different promotional interest rates, which typically vary according to minimum deposit amount and agreed upon tenor. These promotions change every month or so and can determine just how competitive a fixed deposit investment is. We monitor all fixed deposit promotions across Singapore on a weekly basis to ensure you can select the best option for your current needs.

Best HSBC Singapore Dollar Fixed Deposit Promotions

HSBC offers a variety of Singapore Dollar fixed deposits and promotions according to the account holder's banking relationship: Personal banking, Premier and Advance. Find out the best HSBC fixed deposit rates in Singapore below.

Accessible High Rates for Long Tenures: HSBC SGD Time Deposit

Consider this if you're planning to opt for a long-tenure deposit
  • Minimum Deposit
    • S$5,000
    • Available Tenures
      • 1, 3, 6, 12, 24 Months
      Promotions:
      • Enjoy a promotional rate of 3.30% p.a. on 4-month SGD Time Deposits with a minimum deposit of S$30,000.
      • Promotion is valid until 30 Sep 2023

      HSBC Singapore Dollar Time Deposit is the most accessible variant, comes with impressive rates and currently offers a promotion that has preferential interest rates for fixed deposits. Valid until 30 September 2023, this promotion offers promotional interest rates of 3.30% p.a. for 4-month fixed deposits for personal banking customers. The minimum fresh funds deposit required for the promotional rates is S$S$30,000

      HSBC Board Interest Rates (% p.a.), Tenure by Deposit Size
      S$5,000–S$1,000,000+
      1,3 Month0.05%
      6 Month0.10%
      12 Month0.15%
      24 Month3.00%
      Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
      HSBC Interest Rate Earnings by Select Tenures and Deposit Sizes
      S$5,000S$20,001S$50,001S$100,000
      3 MonthS$0.63S$2.5S$6.25S$12.50
      6 MonthS$2.50S$10S$25.00S$50
      12 MonthS$7.50S$30S$75S$150
      24 MonthS$300S$1,200S$3,000S$6,000
      Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

      Best for Premier Account Holders: HSBC Premier Time Deposit

      HSBC Premier SGD Time Deposit
      HSBC Premier SGD Time Deposit
      Consider this if you're able to maintain a large savings balance or have a sizeable property loan
      • Minimum Deposit
        • S$5,000
        • Available Tenures
          • 1, 3, 6, 12, 24 Months
          Promotions:
          • Enjoy a promotional rate of 3.45% p.a. on 4-month SGD Time Deposits with a minimum deposit of S$30,000.
          • Promotion is valid until 30 Sep 2023

          Consumers with an HSBC Premier banking relationship have access to top interest rates with HSBC Premier SGD Time Deposit. It's worth mentioning that this fixed deposit account is a bit challenging to qualify for (consumers must maintain a S$200,000 balance, S$15,000 monthly salary credit, or have a property loan of at least S$800,000). The Premier deposit offers a welcome gift for new customers who deposit fresh funds into their accounts. Salary crediting or recurring monthly deposit of S$15,000 will earn a S$100 cash credit, S$200,000 will come with a S$200 cash credit and a deposit or investment of S$200,000 will come with a S$500 cash credit reward.

          HSBC Premier Board Interest Rates (% p.a.), Tenure by Deposit Size
          S$5,000–S$1,000,000+
          1,3 Month0.05%
          6 Month0.10%
          12 Month0.15%
          24 Month3.00%
          Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
          HSBC Premier Interest Rate Earnings by Select Tenures and Deposit Sizes
          S$5,000S$20,001S$50,001S$100,000
          3 MonthS$0.63S$2.5S$6.25S$12.50
          6 MonthS$2.50S$10S$25.00S$50
          12 MonthS$7.50S$30S$75S$150
          24 MonthSS$300S$1,200S$3,000S$6,000
          Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

          Best Hong Leong Finance Singapore Dollar Fixed Deposit Promotions

          Hong Leong Finance Time Deposit
          Hong Leong Finance Time Deposit
          Consider this if you're interested in a medium term fixed deposit of 12 to 18 month long
          • Minimum Deposit
            • A minimum deposit of S$50,000 for at least one month
            • Available Tenures
              • 1, 2, 3, 4, 5, 6, 8, 9, 10, 12, 13, 15, 18, 24, 36 Months
              Promotions:
              • Earn up 3.00% p.a. on a 5-month fixed deposit or up to 3.05% p.a. for a 8-month fixed deposit for both new and renewed fixed deposit accounts

              Here is why Hong Leong Finance Fixed Deposit is one of the best fixed deposit account in Singapore for getting top promotional rates for Medium-Length Tenures.

              Hong Leong Finance Fixed Deposit offers competitive promotional rates for deposits of medium-length tenure, making it a great fixed deposit option in Singapore if you're considering investing for up to 1 year. In fact, consumers can earn up to 3.60% p.a. for 5 months tenure and 3.30% p.a. for 6 months tenure when they renew or deposit fresh funds via an online form or PayNow with a S$20,000 minimum deposit.

              These high rates make HLF Fixed Deposits a strong option for those investing for at least 12 months with board rates ranging from 0.30% for deposits of up to S$50,000, to 0.50% for deposits greater than S$50,000. In addition, if investing for longer than 2 months, the minimum deposit is only S$500, making it far more accessible than the competitor fixed deposits.

              HLF Board Interest Rates (% p.a.), Tenure by Deposit Size
              S$500–S$50,000S$50,001–S$999,999
              1, 2 Month0.05%0.15%
              3, 4, 5 Month0.10%0.15%
              6, Month0.15%0.20%
              7, 8 Month0.15%0.25%
              9, 10 Month0.20%0.30%
              11, 12, 13 Month0.25%0.35%
              15, 18, 21 Month0.30%0.45%
              24, 30, 36 Month0.30%0.50%
              Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
              HLF Interest Rate Earnings by Select Tenures and Deposit Sizes
              S$5,000S$20,001S$50,001S$100,000
              3 MonthS$1.25S$2.50S$18.75S$37.40
              6 MonthS$3.75S$15S$50S$100
              12 MonthS$12.50S$50S$175S$350
              24 MonthS$30S$120S$500S$1,000
              Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

              Best ICBC Singapore Dollar Time Deposit Promotions

              ICBC offers some of the best fixed deposit interest rates on the market, both in terms of promotional and board rates. We have recommended the best ICBC fixed deposit rates in Singapore.

              Most Accessible Promo Interest Rates: ICBC SGD Fixed Deposit

              Consider this if you're seeking top promotional rates for as little as S$500 deposit
              • Minimum Deposit
                • S$500
                • Available Tenures
                  • 1, 3, 6, 9, 12, 13, 24 Months
                  Promotions:
                  • Earn 3.30% p.a. on a 3-month fixed deposit and 3.20% on a 6-month, 9-month and 12-month fixed deposit by depositing a minimum of S$500 of fresh funds via e-banking

                  If you're looking to invest less than S$1,000, you'll have a very hard time qualifying for a fixed deposit account with most banks. With ICBC SGD Fixed Deposit, however, you can access top board rates as well as market-leading promotional offers with just a S$500 minimum deposit. This is the lowest minimum deposit required amongst all the fixed deposits available on the market. In fact, no other bank provides access to promotions for less than S$10,000 minimum investment.

                  In terms of ICBC's current promotions, depositing at least S$500 in fresh funds earns up to 3.30% p.a. for 3-months and 3.20% p.a. for 12 months if deposited via E-Banking. You can also make over-the-counter deposits for fresh funds for this promotion, although rates are 0.05% lower than via E-Banking for each tenor. ICBC offers promotional rates for 1,3,6, and 9 month tenors as well, which is far more flexible than any other banks' promotional schema as most banks do not offer promotions rates for tenors as short as 1 month. In addition, these rates are some of the highest on the market regardless of deposit size, big or small.

                  ICBC Board Interest Rates (% p.a.), Tenure by Deposit Size
                  S$500-S$200,000+
                  1 Month2.90%
                  3 Month3.30%
                  6 Month3.20%
                  9 Month3.20%
                  12 Month3.20%
                  Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                  ICBC Interest Rate Earnings by Select Tenures and Deposit Sizes
                  S$5,000S$20,001S$50,001S$100,000
                  3 MonthS$41.25S$165S$412.50S$825
                  6 MonthS$80S$320S$800S$1600
                  12 MonthS$160S$640S$1,600S$3,200
                  Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                  Incrementally Increasing Interest Rates: ICBC Step-Up Fixed Deposit

                  Consider this if you want to make a deposit with greater flexibility for withdrawal
                  • Minimum Deposit
                    • S$5,000
                    • Available Tenures
                      • 1, 2 years (incrementally compounded, 4 times/year)
                      Promotions:
                      • S$5,000 deposit for 12 months tenor, qualifies for quarterly promo rates of 1.70%, 1.90%, 1.96% and 2.05% p.a.
                      • S$5,000 deposit for 24 months tenor, qualifies for semi-annual promo rates of 0.40%, 0.80%, 1.30% and 2.10% p.a.

                      While the ICBC Step-Up Fixed Deposit has lower rates than a lot of the other fixed deposits on the market, its value is that it is one of the few fixed deposit accounts in Singapore that allows you to compound interest in increments (cycles of 3 or 6 months) rather than annually. To incentivise you to keep the fixed deposit to full term, interest rates increase substantially with each cycle, and the interest earned in each cycle will be forfeited if you do not keep your deposit until the end of that cycle.

                      ICBC Step-Up Fixed Deposit offers two tenure options: 1 or 2 years. For a 1 year tenure, interest is compounded quarterly, or every 3 months. In the first quarter, consumers will earn just 1.70% p.a. on their investment. If they continue on, they'll earn 1.90% in the second quarter, 1.95% in the third quarter, and 2.05% in the fourth and final quarter. The 2 year tenure compounds every 6 months, with rates of 0.40% for the first cycle, 0.80% for the second, 1.30% for the third and 2.10% for the 4th. A minimum deposit of S$5,000 is required for both tenure options.

                      1-Year Step-Up Plan

                      ICBC Step-Up Board Interest Rates (% per cycle), Tenure by Deposit Size
                      S$5,000+
                      Cycle 1 (Months 1–3)1.70%
                      Cycle 2 (Months 4–6)1.90%
                      Cycle 3 (Months 7–9)1.95%
                      Cycle 4 (Months 10–12)2.05%
                      Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs

                      2-Year Step-Up Plan

                      ICBC Step-Up Board Interest Rates (% per cycle), Tenure by Deposit Size
                      S$5,000+
                      Cycle 1 (Months 1–6)0.40%
                      Cycle 2 (Months 7–12)0.80%
                      Cycle 3 (Months 13–18)1.30%
                      Cycle 4 (Months 19–24)2.10%
                      Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs

                      Best UOB Singapore Dollar Fixed Deposit Promotions

                      Consider this if you're interested in a long tenure for a medium deposit amount
                      • Minimum Deposit
                        • S$5,000
                        • Available Tenures
                          • 1-15 (each available separately),18, 24, 36 Months
                          Promotions:

                          UOB Singapore Dollar Fixed Deposit offers some of the highest board interest rates on the market for small-to-moderate (< S$50,000) sized deposits with longer tenures. Currently, UOB is running a promotion for its 10-month fixed deposits. Consumers can earn 3.10% p.a. with just a S$10,000 minimum deposit. Otherwise, their standard board interest rates allow you to earn up to 3.20% p.a. for fixed deposits of tenure up to 36-months.

                          UOB Board Interest Rates (% p.a.), Tenure by Deposit Size
                          <S$50,000–S$999,999
                          1 Month0.05%
                          2 Month0.20%
                          3 Month0.35%
                          4 Month0.55%
                          5 Month0.75%
                          6 Month0.95%
                          7 Month1.15%
                          8 Month1.35%
                          9 Month1.55%
                          10 Month1.80%
                          11 Month2.05%
                          12 Month2.30%
                          13 Month2.55%
                          14 Month2.80%
                          15 Month2.95%
                          18 Month3.05%
                          24 Month3.10%
                          36 Month3.20%
                          Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                          UOB Interest Rate Earnings by Select Tenures and Deposit Sizes
                          S$5,000S$20,001S$50,001S$100,000
                          3 MonthS$4.38S$17.00S$43.75S$87.50
                          6 MonthS$23.75S$95.00S$237.50S$475
                          12 MonthS$115S$460S$1,150S$2,300
                          24 MonthS$310S$1,240S$3,100S$6,200
                          Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                          Best OCBC Singapore Dollar Fixed Deposit Promotions

                          Consider this if you have a very specific deposit tenure in mind as OCBC offers a wide range of tenures
                          • Minimum Deposit
                            • S$5,000
                            • Available Tenures
                              • 1-24 (each available separately), 36, 48 Months
                              Promotions:
                              • For both Cash and CPF fixed deposits: Earn up to 2.70% for 6-months tenor, with a minimum deposit of S$30,000

                              If you have a very specific deposit tenure in mind, it's definitely worth considering OCBC SGD Time Deposit. Most banks board tenure rates are very low (less than 1%) and only offer high promotional interest rates for specific tenures (eg. 6-months, 9-months). OCBC on the other hand offers relatively high standard board interest rates, especially for longer tenures (12-months or more), and allows customers to select tenures by the month, giving you greater flexibility to tailor your fixed deposit to your needs. You are able to choose a tenure of up to a 48-month and earn up to 3.00%. p.a. with a minimum deposit of only S$5,000.

                              Moreover, OCBC is currently offering a CPF fixed deposit promotion, where you are able to earn 2.70% p.a. on a 6-month fixed deposit with a minimum deposit of S$30,000 from your CPF Ordinary Account. You can apply for this promotion at the OCBC branch.

                              OCBC Board Interest Rates (% p.a.), Tenure by Deposit Size
                              S$5,000–S$20,000S$20,001-S$50,000S$50,001–S$999,999
                              1, 2 Month0.05%0.05%0.05%
                              3, 4, 5 Month0.10%0.05%0.05%
                              6, 7, 8 Month0.20%0.10%0.10%
                              9 Month0.30%0.10%0.10%
                              10, 11 Month0.40%0.10%0.10%
                              12 Month0.50%0.10%0.10%
                              13 Month0.90%0.15%0.15%
                              14 Month1.40%0.15%0.15%
                              15,16 Month1.95%0.20%0.20%
                              18 Month2.30%0.20%0.20%
                              20 Month2.40%0.20%0.20%
                              24 Month2.50%0.20%0.20%
                              36 Month2.80%0.20%0.20%
                              48 Month3.00%0.20%N/A
                              Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                              OCBC Interest Rate Earnings by Select Tenures and Deposit Sizes
                              S$5,000S$20,001S$50,001S$100,000
                              3 MonthS$1.25S$2.50S$6.25S$12.50
                              6 MonthS$5S$10S$25S$50
                              12 MonthS$10S$20S$50S$100
                              24 MonthS$95S$80.18S$200S$400
                              36 MonthS$195S$120S$300S$600
                              Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                              Related: What Can You Invest in Under the CPF Investment Scheme?

                              Best Standard Chartered Singapore Dollar Fixed Deposit Promotions

                              Consider this if you're have an existing Standard Chartered Fixed Deposit and are seeking a deposit with a very long tenure of up to 5 years
                              • Minimum Deposit
                                • S$5,000
                                • Available Tenures
                                  • 1, 3, 6, 9, 12, 15, 18, 24, 36, 48, 60 Months
                                  Promotions:

                                  Standard Chartered Singapore Dollar Time Deposit is currently running a promotion where new fixed deposit applicants can earn 3.20% p.a. on a deposit of at least S$25,000 across 6 months, or earn a preferred rate of 3.10% p.a. if they're a Priority Private Banking client. These rates are reasonably competitive with other promotions currently on the market.

                                  Where Standard Chartered SGD Time Deposits shine is their long tenure fixed deposits. While they are currently not offering fixed deposits of tenures 36 months and above to new applicants, they are available to existing customer as an auto rollover of existing SGD Time Deposit placements at the same tenor. You can earn up to 3.00% p.a. on tenures of 36 to 60 months. This is beneficial if you have a long time horizon on your investment as we are not able to predict how long fixed deposit interest rates will remain high. By opting to roll over your long tenure fixed deposits with Standard Chartered you'd be able to lock in the high interest for the next 3-5 years.

                                  SC Board Interest Rates (% p.a.), Tenure by Deposit Size
                                  S$5,000–S$500,000+
                                  1 Month0.85%
                                  3 Month0.90%
                                  6 Month2.20%
                                  9 Month2.55%
                                  12 Month2.60%
                                  15, 18, 24 Month2.75%
                                  36 Month2.77%
                                  48 Month2.90%
                                  60 Month3.00%
                                  Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                                  SC Interest Rate Earnings by Select Tenures and Deposit Sizes
                                  S$5,000S$20,001S$50,001S$100,000
                                  3 MonthS$1.25S$5S$12.50S$25
                                  6 MonthS$3.75S$15S$37.50S$75
                                  12 MonthS$27.50S$110S$275S$936.99
                                  24 MonthS$70S$280S$700S$1,400
                                  Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                                  Best DBS Singapore Dollar Fixed Deposit Promotions

                                  Consider this if you're making a small deposit of medium to long-tenure
                                  • Minimum Deposit
                                    • S$1,000
                                    • Available Tenures
                                      • 1-12 (each available separately),18, 24, 36, 48, 60 Months
                                      Promotions:
                                      • No current promotions available.

                                      DBS does not always have promotional offers on their SGD Fixed Deposits. Nonetheless, its pre-promotional interest rates for moderately long deposits are on par with the industry average. Account holders who deposit amounts of S1,000 to S$20,000 will earn interest from 3.00% p.a. to 3.20% p.a. for tenures between 8-60 months.

                                      Making a deposit of more than S$20,000 will not be beneficial as current rates are set to 0.05% irrespective of the tenure. Naturally, interest rates increase as your deposit tenure increases. As a result, small deposits (as little as S$1,000) of moderately long tenure (12 - 60 months) are best situated to provide competitive gains to account holders.

                                      DBS Board Interest Rates (% p.a.), Tenure by Deposit Size
                                      S$1,000–S$19,999S$20,000–S$999,999
                                      1 Month0.30%0.05%
                                      2 Month0.50%0.05%
                                      3 Month1.00%0.05%
                                      4 Month1.85%0.05%
                                      5 Month2.35%0.05%
                                      6 Month2.90%0.05%
                                      7 Month2.95%0.05%
                                      8 Month3.00%0.05%
                                      9 Month3.10%0.05%
                                      10, 11 Month3.15%0.05%
                                      12, 18, 24, 36, 48, 60 Month3.20%0.05%
                                      Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                                      DBS Interest Rate Earnings by Select Tenures and Deposit Sizes
                                      S$5,000S$20,001S$50,001S$100,000
                                      3 MonthS$1.88S$2.50S$6.25S$12.50
                                      6 MonthS$35.00S$140S$12.50S$25
                                      12 MonthS$80S$320S$25S$50
                                      24 MonthS$170S$680S$50S$100
                                      Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                                      Best Maybank Singapore Dollar Time Deposit Promotions

                                      Maybank offers competitive interest rates for time deposits that are traditionally structured as well as those centered on e-banking. Discover the best Maybank fixed deposit rates in Singapore.

                                      Best Long-Tenor Rates for Online Banking: Maybank iSAVvy Time Deposit

                                      Consider this if you're familiar with online banking and want a longer tenure
                                      • Minimum Deposit
                                        • S$5,000 for 3 & 6 months, S$25,000 for 12, 24, 36 months
                                        • Available Tenures
                                          • 3, 6, 12, 24, 36 Months
                                          Promotions:
                                          • Earn up to 3.75% for 12 months tenor, with a minimum deposit of S$20,000

                                          Here is why Maybank iSAVvy Time Deposit is the best fixed deposit account in Singapore for the long tenor rates in online banking.

                                          Maybank is currently running a promotion where consumers receive up to 3.20% interest for deposits of 24 month tenor, though there's a S$20,000 minimum deposit requirement.

                                          The ability to make a big deposit is also key to accessing the Maybank iSAVvy promotion. With a minimum deposit of S$20,000 consumers can earn 3.00% p.a. for 12 months tenor or 3.20% p.a. for 24 months tenor. This translates to an interest earnings per year of at least S$600 or S$1,280, respectively. These are quite high promotional rates compared to the current overall market, but consumers must already have a banking relationship with Maybank to qualify, and deposits must be made online (in fact, over-the-counter transactions incur fees).

                                          MB iSAVvy Board Interest Rates (% p.a.), Tenor by Deposit Size
                                          S$5,000–S$19,999S$20,000–S$1,000,000
                                          3 Month0.25%0.25%
                                          6 Month0.30%2.80%
                                          12 MonthN/A3.00%
                                          15 MonthN/A3.05%
                                          18 MonthN/A3.10%
                                          24 MonthN/A3.20%
                                          36 MonthN/A2.85%
                                          Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                                          MB iSAVvy Interest Rate Earnings by Select Tenors and Deposit Sizes
                                          S$5,000S$20,001S$50,001S$100,000
                                          3 MonthS$3.13S$12.50S$31.25S$62.50
                                          6 MonthS$7.50S$280S$700S$1,400
                                          12 MonthN/AS$600S$1,500S$3,000
                                          24 MonthN/AS$1,280S$3,600S$6,400
                                          Board rates only, promotions are not displayed. Only select tenors and deposit sizes are featured for reference

                                          High Rates for Very Long Tenures: Maybank SGD Time Deposit

                                          Consider this if you're open to or already have a savings account with Maybank
                                          • Minimum Deposit
                                            • S$10,000 for 1 months, S$1,000 for 2 to 36 months
                                            • Available Tenures
                                              • 1, 2, 3, 6, 9, 12, 18, 24, 36 Months

                                              Here is why Maybank SGD Time Deposit is the best fixed deposit account in Singapore for high rates for very long tenures.

                                              Maybank Singapore Dollar Time Deposit still offers some of the most accessible high board rates for very long-tenure deposits. In fact, with just S$1,000 minimum deposit, consumers can earn a market-leading 2.85% p.a. for a 36-month tenure. The fact that the minimum requirement is so low and the interest rate is so high makes Maybank SGD Time Deposit the best option for those with small deposits looking for a long-term investment, considering the deposit board rates alone.

                                              Maybank Board Interest Rates (% p.a.), Tenure by Deposit Size
                                              S$1,000–S$999,999
                                              1 Month0.10%
                                              2 Month0.10%
                                              3 Month0.20%
                                              6 Month0.25%
                                              9 Month0.35%
                                              12 Month0.35%
                                              18 Month0.40%
                                              24 Month0.50%
                                              36 Month2.85%
                                              Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                                              Maybank Interest Rate Earnings by Select Tenures and Deposit Sizes
                                              S$5,000S$20,001S$50,001S$100,000
                                              3 Month$2.50S$10.00S$25.00S$50.00
                                              6 MonthS$6.25S$25S$62.50S$125
                                              12 MonthS$17.50S$70S$175S$350
                                              24 MonthS$50S$200S$500S$1,000
                                              Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                                              High & Easy-to-Access Promotional Rates: CIMB SGD Fixed Deposit

                                              Consider this if you want top promotional rates for a smaller deposit size
                                              • Minimum Deposit
                                                • S$5,000 for 1 & 2 Mo, S$1,000 for 3+ Mo
                                                • Available Tenures
                                                  • 1, 2, 3, 6, 9, 12, 24 Months
                                                  Promotions:

                                                  Here is why CIMB SGD Fixed Deposit is the best fixed deposit account in Singapore for high rates for high and easy to access promotional rates.

                                                  CIMB SGD Fixed Deposit is, by far, one of the best options on the market for small and medium tenure deposits of any size. Currently, you can earn an interest rate of up to 4.00% for 6 month tenure and 4.10% p.a. for 9 months tenure with a minimum placement of S$10,000. Tenors of both the 12 and 18 months offer a set rate of up to 4.20% p.a. with a minimum deposit of just S$10,000

                                                  CIMB Board Interest Rates (% p.a.), Tenure by Deposit Size
                                                  S$1,000–S$99,999S$100,000+
                                                  1 Month0.20%0.20%
                                                  2 Month0.25%0.30%
                                                  3 Month0.30%0.35%
                                                  6 Month0.30%0.35%
                                                  9 Month0.30%0.35%
                                                  12, 18, 24 Month0.30%0.35%
                                                  Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                                                  CIMB Interest Rate Earnings by Select Tenures and Deposit Sizes
                                                  S$5,000S$20,000S$50,000S$100,000
                                                  3 MonthS$3.75S$15S$37.50S$87.50
                                                  6 MonthS$7.50S$30S$75S$175
                                                  12 MonthS$15S$60S$150S$350
                                                  24 MonthS$30S$120S$300S$700
                                                  Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                                                  Respectable Rates for Short-Term Deposits: Bank of China SGD Time Deposit

                                                  Consider this if you're considering a short-term deposit
                                                  • Minimum Deposit
                                                    • S$5,000
                                                    • Available Tenures
                                                      • 1, 3, 6, 9, 12, 24, 36 Months
                                                      Promotions:

                                                      Here is why Bank of China SGD Time Deposit is the best fixed deposit account in Singapore for respectable rates for short-term deposits.

                                                      With a current promotion in place, a minimum deposit of only S$20,000 can earn anywhere 2.85% p.a. for 1 months, 3.80% p.a. for 3 months, 4.00% p.a. for 6-9 months and up to 4.10% for a 12-month tenure. Bank of China SGD Time Deposit offers board rates for tenures of 1 to 36 months, which only slightly vary according to deposit size. There is variation by tenure, with longer terms earning higher interest, but these long-term rates aren't competitive compared to market standards. Instead, BOC Time Deposit's short-term rates, which range from 2.85% to 4.00% for tenures of 6 months and below, are a better fit to standard expectations.

                                                      BOC Board Interest Rates (% p.a.), Tenure by Deposit Size
                                                      S$5,000–S$19,999S$20k–S$499,999S$500k+
                                                      1 Month0.90%0.90%0.95%
                                                      3 Month1.00%1.00%1.05%
                                                      6 Month1.30%1.30%1.35%
                                                      9 Month1.50%1.50%1.55%
                                                      12 Month1.70%1.70%1.75%
                                                      18 Month1.80%1.80%1.85%
                                                      24 Month1.80%1.80%1.85%
                                                      36 Month1.80%1.80%1.85%
                                                      Board rates only, promotions are not displayed. Tenures and deposit size ranges are nested where overlap occurs
                                                      BOC Interest Rate Earnings by Select Tenures and Deposit Sizes
                                                      S$5,000S$20,001S$50,001S$100,000
                                                      3 MonthS$3.75S$15S$37.50S$75
                                                      6 MonthS$10S$40S$100S$200
                                                      12 MonthS$30S$120S$300S$600
                                                      24 MonthS$65S$260S$650S$1,300
                                                      Board rates only, promotions are not displayed. Only select tenures and deposit sizes are featured for reference

                                                      FAQs

                                                      A fixed deposit (also known as a time deposit or term deposit) is a type of investment which gives you a higher interest rate than a regular savings account. When you open a fixed deposit account, you agree to deposit money into an account at a financial institution for a fixed time period and interest rate.

                                                      You can choose a bank to invest a certain amount of money with, called a deposit. You will also have to agree on the length of your investment, called tenor or tenure, and the interest rate that will be paid upon maturity. Unlike a savings account, you cannot withdraw a fixed deposit before the date of maturity. In return, you receive a higher interest rate on a fixed deposit than you would on your savings account.

                                                      No. What distinguishes fixed deposits from savings accounts is the limitation on withdrawing money from the fixed deposit account. Your money is locked in until it reaches maturity. That is why interest rates on fixed deposits tend to be higher than on savings accounts. If you are looking for more flexibility regarding your investment, then a savings account might be the right choice for you.

                                                      That depends. If you are looking for a low-risk investment with a guaranteed rate of return, then it is a good investment.

                                                      The answer depends on several factors: the deposit amount, the length of the initial deposit and the current promotions offered by the bank. For a more detailed analysis of the best options, consider our guide.

                                                      Valuechampion telegram

                                                      Read More: