Best Fixed Deposit Rates - March 2023 Singapore
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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
See the latest rates here
SCB offers 3.9% for a 9 m placement for Priority Private Banking. For regular rates, it will be 3.7%
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
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.
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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