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ICBC Singapore has refreshed its Singapore dollar Fresh Funds fixed deposit promotion 🎉, with rates of up to 1.35% p.a. now available across selected tenors and placement amounts.
For savers comparing fixed-return options for spare cash 💹, this latest update offers a clearer split between over-the-counter (OTC) and e-banking placements, with different minimum sums and slightly different promotional rates depending on deposit size and tenor.
The highest advertised rate is 1.35% p.a., available for a 6-month e-banking placement of SGD200,000 and above.
Compared with the earlier 15 Jan 2026 revision, this refresh shows a mixed picture, with higher returns on selected tenors alongside some unchanged and lower rates. That makes it worth comparing both channel and tenor carefully before placing funds.
🔎 Key things to note before placing a fixed deposit
- Fresh Funds only: Funds must not originate from existing ICBC accounts. In other words, internal transfers within ICBC generally do not count as Fresh Funds.
- Different minimum sums apply: OTC placements start from S$20,000 per tenor, while e-banking placements start from just S$500 per placement.
- Larger sums usually earn more: The SGD200K (inclusive) & Above tier generally enjoys better promotional rates than the Below SGD200K (exclusive) tier.
- Tenor matters: A higher headline rate does not always mean greater flexibility. Shorter tenors may suit funds needed sooner, while longer tenors may appeal to those locking in returns for a longer stretch ⏳.
- Hold till maturity where possible: Partial withdrawals are generally not allowed, so funds are best placed only when they are unlikely to be needed during the lock-in period.
Fixed Deposit Promotional Rates as of 16 Mar 2026
The following are ICBC Singapore’s published promotional rates for Singapore dollar Fresh Funds placements. Rates are shown in p.a. terms, while the actual interest received depends on the selected tenor and whether the placement is held to maturity.
🏦 Over-the-Counter (OTC) promotion rates
OTC placements may suit those who prefer in-branch assistance or would like additional help during placement. The minimum qualifying amount is S$20,000 per tenor.
| SGD | Counter Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 0.95% | 1.05% |
| 3 months | 1.15% | 1.25% |
| 6 months | 1.20% | 1.30% |
| 9 months | 0.90% | 1.15% |
| 1 year | 0.90% | 1.20% |
Among the OTC options, the strongest published rate is 1.30% p.a. for the 6-month tenor under the SGD200K and above tier. For smaller OTC placements below S$200,000, the highest listed rate is 1.20% p.a., also at the 6-month tenor.
💻 E-banking promotion rates
E-banking placements offer a much lower entry point of S$500 per placement, which may appeal to depositors who prefer convenience, smaller-ticket placements, or splitting funds across several maturities.
| SGD | E-Banking Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.05% | 1.10% |
| 3 months | 1.25% | 1.30% |
| 6 months | 1.30% | 1.35% |
| 9 months | 1.00% | 1.20% |
| 1 year | 1.00% | 1.25% |
The standout option here is the 6-month e-banking placement at 1.35% p.a. for SGD200,000 and above 💹. Even for amounts below S$200,000, the 6-month e-banking rate of 1.30% p.a. remains competitive within this ICBC promotion.
📌 Quick observations from the rate tables
- 6 months appears to be the sweet spot across both channels and both deposit tiers, offering the highest published promotional rates in this campaign.
- E-banking beats OTC at every listed tenor for deposits below S$200,000.
- E-banking also edges out OTC for the SGD200,000-and-above tier across all listed tenors.
- 9-month and 1-year tenors are not the top-paying options in this refresh, so those prioritising headline yield may naturally compare them against the 3-month and 6-month alternatives.
How to apply
- Check that the funds qualify as Fresh Funds: Funds should be newly introduced and not transferred from an existing ICBC account.
- Choose the preferred placement channel: E-banking may suit those looking for convenience and a lower minimum amount, while OTC may suit those who prefer branch service.
- Select the amount tier and tenor: Decide between Below SGD200K (exclusive) and SGD200K (inclusive) & Above, then pick the tenor based on liquidity needs and return expectations.
- Review maturity instructions carefully: The displayed rate, rollover instructions and maturity handling should be checked before confirming the placement.
📝 Maturity and renewal points worth noting
- Maturity instructions are important: Unless other instructions are provided, principal and interest may be renewed at the bank’s prevailing board rate for the same tenor.
- Early withdrawal can reduce returns: ICBC’s current page says there is no penalty for pre-matured withdrawal, but interest will be paid based on the prevailing current account rate instead of the promotional fixed deposit return. It still makes sense to place funds that are unlikely to be needed before maturity.
- Laddering can still be useful: Splitting funds across 3-month and 6-month placements, for example, may help balance liquidity and yield 🔻💹.
Eligible customers may place the fixed deposit online through ICBC Singapore’s e-banking platform once the account is ready and Fresh Funds have been credited. Those who prefer in-person service may visit an ICBC Singapore branch instead.
For a broader comparison against other market offerings, browse this guide to Singapore’s fixed deposit rates. For the bank’s latest promotional page, click here.
ICBC Singapore’s refreshed Fresh Funds fixed deposit promotion is most attractive at the 6-month tenor, especially via e-banking, where rates reach 1.35% p.a.. For savers weighing convenience, minimum placement size and return, this update is worth a closer look before locking in spare cash 💰.
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