Best Fixed Deposit Rates November 2023 Singapore Banks

Are Singapore FD rates going up for Nov 2023?

Interest rates are slowly trending upward for T Bills. Would this be reflected for Banks FD?

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

BANKS	INTEREST (PA)	TENURE	MIN DEPO
BANK OF CHINA	3.35% (Online)	3 mths	$5,000
CIMB	3.45% (Online)	6 mths	$10,000
CITIBANK	3.5 % (Citigold)	3 mths	$250,000
DBS/POSB	3.2%	12 mths	$1,000
HL BANK	3.6%	12 mths	$100,000
HONG LEONG FINANCE	3.58%	8 mths	>$50,000
HSBC	3.45%	3 mths	$200,000
ICBC	3.3%	3 mths	$500
MAYBANK	2.65%	12 mths	$20,000
OCBC	2.7%	6 mths	$20,000
RHB	3.68%	6 mths	$20,000
SINGAPURA FINANCE	NA	NA	NA
SCB	3.2 % (Priority)	12 mths	$25,000
UOB	3.1%	6,10,12 mths	$10,000

*Click on the individual banks for the latest rates

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

Bank of China

The best rate for BOC is 3.35% for 3 months. This has to be done via Mobile Banking.

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 3.45% for 6 months.

See the latest rates here

Citibank

Citibank FD rates have risen to 3.5% 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 increased the FD rates to 3.65% for 12 months. Minimum placement is at SGD 500,000

See the latest rates here

Hong Leong Finance

Hong Leong Finance has slightly increased; it now offers the highest rate at 3.58% for $50K for 3 months.

See the latest rates here

HSBC

HSBC offered periods of 3 months FD rates at 3.45% for Premier Banking. The minimum amount for this promo rate is $200,000.

See the latest rates here

ICBC

ICBC offers 3.3% for 3 months via e-banking for deposits as low as $500. For OTC, the minimum would be at $20,000 with 3.25% for 3 months.

See the latest rates here

Maybank

Maybank's best interest rate has fallen to 2.65% 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 via Internet Banking.

See the latest rates here

RHB

RHB's best rate is at 3.68% for 6 months for Premier Banking online for 6 months.

See the latest rates here

Standard Chartered Bank

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

See the latest rates here.e

UOB

The promo rate for UOB FD is at  3.1% for a 6 ,10 or 12 -month tenure for $10,000. It is now one of the lowest in town.

See the latest rates here

Disclaimer
The information provided by TWD 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 30th  Oct. . Do refer to the individual banks for the latest updates.

Next Update will be on 1st Nov.