Best Fixed Deposit Rates December 2023
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Will the last month of the year bring higher rates?
T bill rates have been stabilising. Will the FD rate trend higher as a result?
These are the best interest rates for fixed deposits for banks in Singapore for December 2023.
BANKS | INTEREST (PA) | TENURE | MIN DEPO |
3.5% (Online) | 3 mths | $5,000 | |
|
3.55% (Online) |
6 mths |
$10,000 |
|
3.5 % (Citigold) |
3 mths |
$250,000 |
|
3.2%
|
12 mths |
$1,000 |
|
3.65% |
12 mths |
$500,000 |
|
3.35% |
8 mths |
$20,000 |
|
3.65%
|
3 mths |
$200,000 |
|
3.35% |
3 mths |
$500 |
|
2.65% |
12 mths |
$20,000 |
| 2.7% | 6 mths |
$20,000 |
|
3.68%
|
6 mths |
$20,000 |
|
NA |
NA
|
NA |
|
3.3 % (Priority Private) |
8A mths |
$25,000 |
|
3.1% |
6,10,12 mths |
$10,000 |
*Click on the individual banks for the latest rates
Rates are as of 1 Dec 2023. Please refer to respective banks for the latest rates
Bank of China
The best rate for BOC is 3.5% for 3 months via Mobile Banking. This was higher than the month of November
CIMB
See the latest rates here
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SCB offers a fresh fund promo of 3.3% for 8 m for Priority Private Banking
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Citibank
Citibank highest FD rate is at 3.5% 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 increased the FD rates to 3.65% for 12 months. Minimum placement is at SGD 500,000
Hong Leong Finance
Hong Leong Finance FD rates have fallen to 3.35% for months.
HSBC
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HSBC has increased their rates to 3.65% for 3 months. Min Sum is SGD 200,000
ICBC
ICBC offers 3.35% for 3 months via e-banking for deposits as low as $500.
Maybank
Maybank's interest rate is at 2.65% for 12 months. This is the lowest in town. The minimum placement is $20,000.
OCBC
OCBC FD has only 1 tenure on promo. The rate is 2.7% for 6 months via Internet Banking.
RHB
RHB's best rate is at 3.68% for 6 months for Premier Banking online for 6 months.
Standard Chartered Bank
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UOB
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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.
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.
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.
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