Best Fixed Deposit Rates December 2023 - TheWackyDuo.com - Singapore Wacky Digital Underground Outpost

Best Fixed Deposit Rates December 2023




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


BANK OF CHINA


3.5% (Online)               


3 mths    


$5,000

 

CIMB


 

3.55% (Online)

 

6 mths

 

$10,000

 

CITIBANK

 

3.5 % (Citigold)


 

3 mths

 

$250,000

 

DBS/POSB


 

3.2%

 

 

12 mths

 

$1,000

 

HL BANK


 

3.65%


 

12 mths

 

$500,000


 

HONG LEONG FINANCE


 

3.35%


 

8 mths

 

$20,000

 

HSBC

 

 

3.65%

 

 

3 mths

 

$200,000

 

ICBC

 

 

3.35% 


 

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

 

 

3.3 % 

(Priority Private)


 

8A 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 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



CIMB best FD rates is at 3.465% for 6 months. It used to have one of the highest rate in town.

See the latest rates here



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







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








SCB offers a fresh fund promo of 3.3% for 8 m for  Priority Private Banking 



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.





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.

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