Best Fixed Deposit Rates October 2024 - TheWackyDuo.com - Singapore Lifestyle Portal

Best Fixed Deposit Rates October 2024


FD rates look to drop even more in October

FOMC cutting rates by 50 basis points in September has impacted Singapore Interest rates. 

The yield for 6-month T Bills fell under 3% for the 1st time in 2 years. As expected, the FD rates for banks are lower across the board.

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

BANKS

INTEREST (PA)

TENURE

MIN DEPO


BANK OF CHINA


3.05% (Online)               


3 mths    


$500

 

CIMB


 

2.8% (Online)

 

3 mths

 

$10,000

 

CITIBANK

 

2.55 %


 

3 mths

 

$50,000

 

DBS/POSB


 

3.2%

 

 

12 mths

 

$1,000

 

HL BANK


 

0.4%


 

12 mths

 

NA


 

HONG LEONG FINANCE


 

2.8%


 

6 mths

 

$50,000

 

HSBC

 

 

3%

 

 

6 mths

 

$100,000

 

ICBC

 

 

2.8% 


 

3 mths

 

$500


 

MAYBANK


 

3.1%                   

 

6 mths 

 

$200,000

 

OCBC

 


2.6% (online)                    


6 mths

 

$30,000


 

RHB

 

 

2.75% 

(Premier Banking)

 

 

3 mths

 

$20,000

 

SINGAPURA FINANCE

 

NA            


 

NA    

 

 

NA

 

SCB

 

 

2.9% 

(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 dropped to 3.05% for 3 months via Mobile Banking. 



CIMB





CIMB's best FD rate has fallen to 2.8%  for 3 months. 

See the latest rates here



Citibank








Citibank's FD rate is up at 2.55% for 3 months.

DBS / POSB




DBS/POSB remains at 3.2% for 1 year. As a result, it is now the bank with the highest FD rates. Do note the cap of $19,999 to qualify for these rates.


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


HL Bank




Based on HL Bank website, only board rates are offered

Hong Leong Finance




Hong Leong Finance highest FD rate is at  2.8% for 6 months.

HSBC





HSBC highest FD rates is at 3% for 6 months for more than $100,000. This is better than the last T Bill rate.

ICBC




ICBC best rate is at 2.8% for 3 months via e banking

Maybank






Maybank's best FD rate is at 3.1% for 6 months. this is for online placement and a minium of $200K


OCBC







OCBC FD rate is at 2.9% for 6 months online



RHB









RHB best rate is for 2.75% for a minimum placement of $20K for Premier Banking for 3 months.


Standard Chartered Bank









SCB offers a fresh fund promo of 2.9% for 3 months for Priority Private.



UOB







UOB FD rates remains at  at  2.7% for 6 months




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 30 Sep 2024

No comments

Powered by Blogger.