Best FD Rates for Oct 2022 (Singapore) - TheWackyDuo.com - Singapore Wacky Digital Underground Outpost

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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