Best Fixed Deposit Rates for June 2024

 

Will FD rates fall below Singapore Savings Bonds?

The recent Singapore Savings Bonds have an average rate of 3.33%. This is higher than most FD rates provided by Singapore Banks. Will this continue for the month of June?

There are the best interest rates for fixed deposits for banks in Singapore for June 2024

BANKS	INTEREST (PA)	TENURE	MIN DEPO
BANK OF CHINA	3.4% (Online)	3 mths	$5,000
CIMB	3.3% (Online)	3,9 mths	$10,000
CITIBANK	2.5 %	3 mths	$50,000
DBS/POSB	3.2%	12 mths	$1,000
HL BANK	0.4%	12 mths	NA
HONG LEONG FINANCE	2.9%	3 mths	$50,000
HSBC	3.2%	3 mths	$200,000
ICBC	3.4%	3 mths	$500
MAYBANK	2.6%	12 mths	$20,000
OCBC	2.8% (online)	8 mths	$20,000
RHB	3.3%	3,6,12 mths	$20,000
SINGAPURA FINANCE	NA	NA	NA
SCB	3.1%  (Priority Private)	6 mths	$25,000
UOB	2.7%	6 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 increased slightly to 3.4% for 3 months via Mobile Banking. 

See the latest rates here

CIMB

CIMB's best FD rate has increased to 3.3% for 3 and 9 months. 

See the latest rates here

Citibank

Citibank's FD rate is lowered to 2.5% for 3 months.

See the latest rates here

DBS / POSB

DBS/POSB remains at 3.2%. It has been at this rates for the past few months.

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

See the latest rates here

HL Bank

Based on HL Bank website, only board rates are offered

See the latest rates here

Hong Leong Finance

Hong Leong Finance FD rate has remain at  2.9% for 3 months.

See the latest rates here

HSBC

HSBC FD rate has dropped to 3.2% for 3 months.

See the latest rates here

ICBC

ICBC FD rate increase to 3.4% for 3 months via e-banking for deposits from $500. OTC starts from $20,000.

See the latest rates here

Maybank

Maybank's best FD rate is at 2.6% for  12m.

See the latest rates here

OCBC

OCBC FD rate is at 2.8% for 8 months online

See the latest rates here

RHB

RHB's interest rates is at 3.3% for 3,6 and 12 months for Premier Client.

See the latest rates here

Standard Chartered Bank

SCB offers a fresh fund promo of 3.1% for 6 months for online promo for priority clients.

See the latest rates here

UOB

UOB FD rates remains at one of the lowest at  2.7% for 6 months

See the latest rates here

Disclaimer
The information provided by TWD is for information purposes only and is not meant to be investment advice. Readers must do their due diligence and consult financial advisors for their investment needs. The information is correct as of 1st June