Best Fixed Deposit Rates - March 2023 Singapore - TheWackyDuo.com - Singapore Wacky Digital Underground Outpost

Best Fixed Deposit Rates - March 2023 Singapore

 




 Interest rates have reached a plateau over the past few months.

Fixed deposit rates have moved within a 0.5% spread over the past few months with a trend towards the downside. The current highest rate will be 4.18% for OCBC Premier Clients.

Here are the best-fixed deposit rates for March 2023 in Singapore





Rates are as of Feb 27 2023. Please refer to respective banks for the latest rates


Bank of China

As of 20 Feb 2023



BOC's best rate is 4.1% for online transactions above $300K.  

CIMB




CIMB used to have one of the highest FD rates in town. Now it has one of the lowest at 3.6% for 6 months.

See the latest rates here



Citibank




Citibank only provides exclusive time deposit rates for Citigold and Citigold Private Clients. The rate is at 3.9% for 6 months.


DBS / POSB




DBS/POSB has only recently revised the FD rates. The 12 Months interest rate has risen from 1.7% to 3.2%. 

According to their website, DBS/POSB will accept new placements for tenors 12 months and below.


HL Bank



HL Bank provides attractive rates. However, the minimum deposit starts from $100,000. To get the highest tier at 4.1% for 6m and 12 m, you would need to place a minimum of $500,000



Hong Leong Finance



Hong Leong Finance offers the highest rate at 3.88% for $1m for 15 months.


HSBC



HSBC offered periods of 3,7, and 12 months FD rates. The best rates will be for 7 months at 4%. A minimum deposit will be from SGD30K.


ICBC





ICBC offers 3.75% via e-banking for deposits as low as $500. For OTC, the minimum would be at $20,000 with 3.7% over 1 year.


Maybank




The best interest rate for Maybank is 3.9% for 12 months. The minimum placement is $20,000.


OCBC


OCBC FD rates has been reduced from a high 4.18% to 3.55% for March










OCBC  also offers 8 M CPF FD at 388%. This can only be applied at the branch.



RHB




RHB highest rate has dropped to 3.9% for a 12 or 24-month placement.


SINGAPURA FINANCE

NA

Standard Chartered Bank


SCB offers 3.9% for a 9 m placement for Priority Private Banking. For regular rates, it will be 3.7%



UOB





UOB's best rate will be at 3.95 for 6, 10 and 12 months if you have 1 million.
For deposits less than 50K, the interest rates will be at 3.85%




Disclaimer
The information provided by TWD serves is for educational purposes. It is not meant to be personalised investment advice. Readers must do their due diligence and refer to financial advisors for their investment needs. The information is correct as of March 1 2023. Do refer to the individual banks for the latest updates.
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