FD rates are now trending towards 2 %
With the US erratic tariff policies and Singapore's monetary policy easing, interest rates are likely to fall further. Some banks still provide attractive rates with Fixed Deposit rates higher than T Bill rates.
There are the best interest rates for fixed deposits for banks in Singapore for May 2025
BANKS | INTEREST (PA) | TENURE | MIN DEPO |
BANK OF CHINA |
2.4% (Online) |
3 mths |
$500 |
CIMB
| 2.3% (Online) | 3 mths | $10,000 |
CITIBANK | 2.4 %
| 3 mths | $50,000 |
DBS/POSB
| 2.45% | 12 mths | $1,000 |
HL BANK
| 0.4%
| 12 mths | NA
|
HONG LEONG FINANCE
| 2.2%
| 9 mths | $5,000 |
HSBC | 2% | 3 mths | $100,000 |
ICBC | 2.3%
| 3 mths | $20,000
|
MAYBANK
| 2.05% | 6 mths | $20,000 |
OCBC |
1.9% (online) |
9 mths | $30,000
|
RHB | 2.3% (Premier Banking) | 3 mths | $20,000 |
SINGAPURA FINANCE | NA
| NA | NA |
SCB | 2.05% (Priority Private)
| 5 mths | $25,000 |
UOB | 2.1% | 6 mths | $10,000
|
*Click on the individual banks for the latest rates
Rates are as of 1 Dec 2023. Please refer to the respective banks for the latest rates
Bank of China
The best rate for BOC is at 2.4% per month via Mobile Banking.
CIMB
CIMB's best FD rate is at 2.3% for 3 months.
See the latest rates here.
Citibank
Citibank's FD rate is at 2% for 3 months.
DBS / POSB
DBS/POSB is at 2.45% 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's best FD rate is at 2.2% for 6 months.
HSBC
HSBC offers different tiers of rates depending on the customer segment. The highest is at 2% for Premier and Premier Elite for 3 months of FD
ICBC
ICBC best rate is at 2.3% for 3 months via e-banking
Maybank
Maybank's best FD is at 2.05% for 6 months. This is for online placement with a minimum of $20K
OCBC
OCBC FD rate is below 2% with 1.9% for 9 months the highest online
RHB
RHB's best rate is 2.3% for 3 months. The minimum placement is $20K for Premier Banking.
Standard Chartered Bank
SCB offers a tiered rate promotion. The highest is 2.05% for 5 months for Priority Private.
UOB
UOB FD best rate is at 2.1% 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 1 May 2025
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