Best Fixed Deposit Rates - May 2023
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Interest rates are lower for May 2023
Banks are now offering Fix Deposit rates below 4%. Expect it to be lower in the coming months as MAS pause a strong SGD policy. These are the best interest rates for May 2023 in Singapore.
BANKS | INTEREST (PA) | TENURE | MIN DEPO |
3.6% (Online) | 3 mths | $5,000 | |
|
3.5% (Online) |
9 mths |
$10,000 |
|
4% (Citigold) |
3 mths |
$250,000 |
|
3.2%
|
12 mths |
$1,000 |
|
3.5% |
3 mths |
$100,000 |
|
3.8%
|
12 mths |
>$500,000 |
|
3.75%
|
3 mths |
$30,000 |
|
3.6% |
3 mths |
$500 |
|
3.9% |
12 mths |
$20,000 |
| 3.4% | 6 mths |
$20,000 |
|
3.55% (Premier)
|
6 mths |
$20,000 |
|
NA |
NA
|
NA |
|
3.2 % |
12 mths |
$25,000 |
|
3.45% |
6,10 mths |
$10,000 |
*Click on the individual banks for the latest rates
Rates are as of 30th Apr 2023. Please refer to respective banks for the latest rates
Bank of China
BOC's best rate is at 3.6% for 6 months.
CIMB
See the latest rates here
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SCB offers 3 months FD rate at 3.2% for Priority Private Banking rate. The minimum amount is $25,000
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Citibank
Citibank only provides exclusive time deposit rates for Citigold and Citigold Private Clients. The rate is at 4% for 3 months.
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.
HL Bank
HL Bank has reduced the FD rates to 3.5% for 3 and 6 months. Minimum placement is at SGD 100,000
Hong Leong Finance
Hong Leong Finance offers the highest rate at 3.65% for $500K for 12 months.
HSBC
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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
ICBC
ICBC offers 3.65% for 3 months via e-banking for deposits as low as $500. For OTC, the minimum would be at $20,000 with 3.6% for 3 months.
Maybank
The best interest rate for Maybank is 3.9% for 12 months. The minimum placement is $20,000.
OCBC
OCBC FD has only 1 tenure on promo. The rate is 3.4% for 6 months.
RHB
RHB has reduced rates from 4.1% to 3.55% for 6 months for Premier Banking online for 6 months.
SINGAPURA FINANCE
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NA
Standard Chartered Bank
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UOB
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The promo rate for FD is now 3.45% for 6 or 10 months tenure for $10,000 and above.
Disclaimer
The information provided by TWD serves is for information 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 2nd May 2023. Do refer to the individual banks for the latest updates.
The information provided by TWD serves is for information 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 2nd May 2023. Do refer to the individual banks for the latest updates.
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