Best Fixed Deposit Rate November 2024

 

FD rates are now mostly 3% and below

With FOMC cutting rates last month, most banks' FD rates continue to drop to below 3 %. 

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.% (Online)	3 mths	$500
CIMB	2.8% (Online)	3 mths	$10,000
CITIBANK	2.4 %	3 mths	$50,000
DBS/POSB	3.2%	12 mths	$1,000
HL BANK	0.4%	12 mths	NA
HONG LEONG FINANCE	2.75%	3 mths	$50,000
HSBC	2.75%	3 mths	$100,000
ICBC	3%	3 mths	200K and above
MAYBANK	2.9%	6 mths	$200,000
OCBC	2.6% (online)	6 mths	$30,000
RHB	2.8%  (Premier Banking)	6 mths	$20,000
SINGAPURA FINANCE	NA	NA	NA
SCB	2.8%  (Priority Private)	6 mths	$25,000
UOB	2.6%	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 dropped to 3% for 3 months via Mobile Banking. 

See the latest rates here

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 down to 2.4% for 3 months.

See the latest rates here

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.

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 highest FD rate is at  2.8% for 6 months.

See the latest rates here

HSBC

HSBC highest FD rates drops to 2.75% for 3 months for more than $100,000. 

See the latest rates here

ICBC

ICBC offers 3% for 3 months . The minimum is at  200K and above and the transaction has to be done via banking.

 

See the latest rates here

Maybank

Maybank's best FD rate drops to  2.9% for 6 months. This is for online placement with a minimum of $200K

See the latest rates here

OCBC

OCBC FD rate is at 2.9% for 6 months online

See the latest rates here

RHB

RHB best rate is for 2.85% for 3 months. The minimum placement is $20K for Premier Banking.

See the latest rates here

Standard Chartered Bank

SCB offers a tier rate promotion. The highest is 2.8% for 3 months for Priority Private.

See the latest rates here

UOB

UOB FD rates is one of the lowest at   2.6% 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 31 Oct 2024