Best FD Rates for Oct 2022 (Singapore)

 Interest rates continue on the uptrend.

Interest rates for most banks are adjusted for October.

Today, you could get as much as 3.4% for Fix Deposit rates. Here is a comparison of the Interest rates for the different banks in Singapore.

Interest(p.a)              Tenure             Min Deposit
Bank of China	3.4% *Mobile banking	12 Months	$300K and above
CIMB	3%* *Preferred Bk	18 Months	$10,000
Citibank	2.9%* *CitiGold	12 Months	$50,000
DBS / POSB	1.7%	18 months	$1,000
HL Bank	3.8%	12 months	$500,000
Hong Leong Finance	2.8%	15 months	$200,000
HSBC	3.2%	12 months	$30,000
ICBC	2.8% *E-banking	12 months	$500
Maybank	3.05%	15 months	$20,000
OCBC	3.3% Premier Private	12 months	$20,000
RHB	3.4%* *RHB Premier Online	24 months	$20,000
Standard Chartered	3%* *Priority Bank Online	12 months	$25,000
UOB	3.2%	15 months	$20,000

Click on the individual bank for details of FD placement. Rates are for FRESH FUNDS unless stated otherwise.

Which bank has the best rates?

RHB,UOB and Maybank are the only banks that provide interest rates of above 3%.

To qualify for a 3.4% pa return, you must make a 24-month placement via the RHD Mobile SG App. In addition, you have to be an RHB Premier Client to get the rates. To qualify, you have to have a balance of $200,000 with RHB. For UOB, if you place fresh funds, you can get up to 3% for a 15-month placement. Maybank is offering 3.05% for 15 months FD

Most other banks are providing interest between 2.6% to 2.95%. DBS/POSB is an outlier with the best rates at 1.7%.

Rates as correct as of 1st Oct. Subject to change by individual banks.

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