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ICBC Singapore has revised its fixed deposit promotional rates, effective 16 Sep 2025 🎉
Industrial and Commercial Bank of China (ICBC) Singapore has revised its fixed deposit (FD) promotional rates. With effect from 16 Sep 2025, the highest rate available will be capped at 1.25% per annum (p.a.). This adjustment represents a reduction from the earlier 1.35% p.a., following the 4 Sep 2025 revision.
These rates apply strictly to Fresh Funds – deposits newly brought into ICBC Singapore that are not transferred from existing ICBC accounts. Internal transfers are not eligible for this promotional campaign.
Fixed Deposit Promotional Rates from 16 Sep 2025
🏦 Over-the-Counter (OTC) Rates
Customers who prefer visiting an ICBC branch can enjoy tiered OTC promotional rates depending on their deposit size. The minimum deposit amount is S$20,000 per placement.
| SGD | Counter Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K | SGD200K & Above |
| 1 month | 1.05% | 1.15% |
| 3 months | 1.10% | 1.20% |
| 6 months | 1.05% | 1.15% |
| 9 months | 1.00% | 1.10% |
| 1 year | 1.00% | 1.10% |
💻 E-Banking Rates
For those who prefer convenience, ICBC’s e-banking platform offers slightly better rates with a much lower entry requirement of S$500. This makes it more accessible to individuals keen to start small while still enjoying competitive returns:
| SGD | E-Banking Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K | SGD200K & Above |
| 1 month | 1.15% | 1.20% |
| 3 months | 1.20% | 1.25% |
| 6 months | 1.15% | 1.20% |
| 9 months | 1.10% | 1.15% |
| 1 year | 1.10% | 1.15% |
Good to know: There is no penalty for premature withdrawals. However, in such cases, interest will be paid at the prevailing current account rate instead of the promotional FD rate.
How to Apply
Interested customers can conveniently apply online or head down to any ICBC Singapore branch for in-person assistance. Those looking to compare rates across multiple banks can check the full list of Singapore’s fixed deposit rates here.
While ICBC Singapore’s fixed deposit promotional rates have been adjusted downward, the bank continues to provide accessible options through both OTC and e-banking channels. Customers seeking safe, guaranteed returns may still find these offerings attractive, especially with the low entry point for e-banking deposits. As always, it is wise to compare rates across different banks to maximise returns 💡.
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