Best Fixed Deposit Rates for February 2024

FD Rates for February remain largely unchanged.

There had been market talks that interest rates would fall in 2024. Jan Singapore Savings Bonds rates have also fallen below 3% to 2.81% average. On the other hand, bank rates are mostly unchanged, with a slight downward trend.

These are the best interest rates for fixed deposits for banks in Singapore for  Feb 2024

BANKS	INTEREST (PA)	TENURE	MIN DEPO
BANK OF CHINA	3.45% (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	0.4%	12 mths	NA
HONG LEONG FINANCE	3.1%	5 mths	$20,000
HSBC	3.65%	3 mths	$200,000
ICBC	3.35%	3 mths	$500
MAYBANK	2.65%	12 mths	$20,000
OCBC	3.1%	6 mths	$20,000
RHB	3.3%	6 mths	$20,000
SINGAPURA FINANCE	NA	NA	NA
SCB	3.3 %  (Priority Private)	6 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 has drop to 3.45% for 3 months via Mobile Banking. 

See the latest rates here

CIMB

CIMB best FD rates is at 3.5% 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.

See the latest rates here

DBS / POSB

DBS/POSB remains unchanged at 3.2%

According to their website, DBS/POSB will accept new placements for tenors 12 months and below.

See the latest rates here

HL Bank

As of 30 Jan, there are no promotion rates for HL Bank

See the latest rates here

Hong Leong Finance

Hong Leong Finance FD rates have fallen to 3.1% for 5,6 and 8 month.

See the latest rates here

HSBC

HSBC's highest rate is at 3.65% for 3 months.

See the latest rates here

ICBC

ICBC offers 3.35% for 3 months via e-banking for deposits as low as $500. 

See the latest rates here

Maybank

See the latest rates here

OCBC

OCBC FD has only 1 tenure on promo. The rate is 3.1% for 6 months via Internet Banking.

See the latest rates here

RHB

RHB's interest rates drops to 3.3% for 6 months for Premier Client.

See the latest rates here

Standard Chartered Bank

SCB offers a fresh fund promo of 3.3% for 6 m for  Priority Private Banking till 31 Jan. 

See the latest rates here

UOB

UOB used to have decent FD rates. Now, it is 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 1st Feb. Do refer to the individual banks for the latest updates.