Best Fixed Deposit Rates Apr 2023

 

 Interest rates are trending lower for April.

Most of the banks are now offering less than 4% interest. These are the best interest rates for April 2023 in Singapore.

BANKS	INTEREST (PA)	TENURE	MIN DEPO
BANK OF CHINA	3.55% (Online)	6 mths	>$300,000
CIMB	3.6% -Online	6 mths	$10,000
CITIBANK	3.88%-Citigold	3 mths	$250,000
DBS/POSB	3.2%	12 mths	$1,000
HL BANK	3.85%	12 mths	>$500,000
HONG LEONG FINANCE	3.8%	12 mths	>$500,000
HSBC	3.75%	3 mths	$30,000
ICBC	3.65%	3 mths	$500
MAYBANK	3.9%	12 mths	$20,000
OCBC	3.5%	6 mths	$20,000
RHB	3.9%	12 mths	$20,000
SINGAPURA FINANCE	NA	NA	NA
SCB	3.2 %	12 mths	$25,000
UOB	3.55%	3,6 mths	$10,000

*Click on the individual banks for the latest rates

Rates are as of Apr 1 2023. Please refer to respective banks for the latest rates

Bank of China

BOC's best rate is at 3.55% for 6 months.

See the latest rates here

CIMB

CIMB used to have one of the highest FD rates in town. Now it has one of the lowest at 3.5% 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 4% for 3 months.

See the latest rates here

DBS / POSB

DBS/POSB best rate is 3.2% for 12 months. The minimum amount is $1000.

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

See the latest rates here

HL Bank

HL Bank provides attractive rates. However, the minimum deposit starts from $100,000. To get the highest tier at 3.95% for 6m and 12 m, you would need to place a minimum of $500,000

See the latest rates here

Hong Leong Finance

Hong Leong Finance offers the highest rate at 3.65% for $500K for 12 months.

See the latest rates here

HSBC

HSBC offered periods of 3,6, and 12 months FD rates. The best rates will be for 3 months at 3.75%. The minimum amount for this promo rate is at $30,000

See the latest rates here

ICBC

ICBC offers 3.65% via e-banking for deposits as low as $500. For OTC, the minimum would be at $20,000 with 3.6% over 1 year.

See the latest rates here

Maybank

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

See the latest rates here

OCBC

OCBC FD has only 1 tenure on promo. The rate is 3.4% for 6 months.

See the latest rates here.

RHB

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

See the latest rates here

SINGAPURA FINANCE

NA

Standard Chartered Bank

SCB offers 3 months FD rate at 3.2% for Priority Private Banking rate. The minimum amount is $25,000

See the latest rates here

UOB

The promo rate for FD is now 3.55% for 6 or 10 months tenure for $10,000 and above.

See the latest rates here

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 1st Apr  2023. Do refer to the individual banks for the latest updates.

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