Best Fixed Deposit Rates July 2023

Fix Deposit rates remain mostly lower compared to June 2023.

 These are the best interest rates for fixed deposits in July. 2023 in Singapore.

For August Rates, please refer here

BANKS	INTEREST (PA)	TENURE	MIN DEPO
BANK OF CHINA	3.5% (Online)	3 mths	$5,000
CIMB	3.4% (Online)	9 mths	$10,000
CITIBANK	3.88% (Citigold)	3 mths	$250,000
DBS/POSB	3.2%	12 mths	$1,000
HL BANK	3.5%	3 mths	$100,000
HONG LEONG FINANCE	3.05%	9 mths	>$50,000
HSBC	3.3%	3 mths	$30,000
ICBC	3.5%	3 mths	$500
MAYBANK	3.2%	12 mths	$20,000
OCBC	2.7%	6 mths	$20,000
RHB	3.55% (Premier)	6 mths	$20,000
SINGAPURA FINANCE	NA	NA	NA
SCB	3.2 %	12 mths	$25,000
UOB	2.7%	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 3.5% for 3 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 3.4% for 9 months.

See the latest rates here

Citibank

Citibank only provides exclusive time deposit rates for Citigold and Citigold Private Clients. The rate is at 3.88% 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 has reduced the FD rates to 3.5% for 3 and 6 months. Minimum placement is at SGD 100,000

See the latest rates here

Hong Leong Finance

Hong Leong Finance offers the highest rate at 3.05% for $50K for 9 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 3.3% for new customers. The minimum amount for this promo rate is $30,000.

See the latest rates here

ICBC

ICBC offers 3.5% for 3 months via e-banking for deposits as low as $500. For OTC, the minimum would be at $20,000 with 3.45% for 3 months.

See the latest rates here

Maybank

The best interest rate for Maybank is 3% 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 2.7% for 6 months.

See the latest rates here.

RHB

RHB best rates is at 3.55% for 6 months for Premier Banking online for 6 months.

See the latest rates here

SINGAPURA FINANCE

NA

Standard Chartered Bank

SCB offers 6 months FD rate of 3.2% for Priority Private Banking rate. The minimum amount is $25,000

See the latest rates here

UOB

The promo rate for UOB FD is at  2.7% for 6 or 10 months tenure for $10,000. It is now one of the lowest in town.

See the latest rates here

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

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