Deposits have a much lower risk as compared to other volatile products. They offer peace of mind and assurance that your money will always be there
Note: Terms & conditions apply for the following promotions. Be sure to read in detail before going in for it.
In a heavily summarised definition:
- Fixed / Time deposits require you to place funds (usually fresh funds) in a account for a specified amount of time
- Incremental balance promotions require you to increase your average balance of your account from a defined period with fresh funds.
- Fresh funds refer to funds transferred from accounts outside the bank. Over-the-counter or machine cash deposits are usually fine too
In no particular order (due to varying T&Cs):
- Singapore Savings Bonds – Government Security; High p.a.; Min $500; Requires CDP account; No penalty for early withdrawal; Interest payments every 6 months after issuance
- RHB: Up to 3.08% p.a. with High-Yield Savings Account from 8 Aug 2016 – 31 Jan 2017 (Note: 3% p.a. only applies to the first $10k, min $100k balance required)
- Maybank: Up to 1.30% p.a. Fresh Funds Deposit Promo from 1 Sep – 31 Dec
- UOB: Up to 1% p.a. Fresh Funds Deposit Promo from 1 Nov – 31 Dec 2016
- Maybank: 1.40% to 1.80% p.a. Time Deposit Promo
- CIMB StarSaver Account 0.8% p.a. on the entire account balance (min $5,000 balance)
- CIMB FastSaver account 1.0% p.a. on first $50,000, 0.6% thereafter (min $1,000 balance)
- ICBC Bank: Up To 1.18% p.a. Fixed Deposits & Regular Savings Accounts from 5 Nov 2016
- OCBC: 0.90% p.a. 12-mth Time Deposit from 4 Nov 2016
- POSB offers 1.38% p.a. for 4 months when you deposit fresh funds with no minimum required from 28 Nov – 15 Dec NEW (added 29 Nov)
- CIMB Bank offers 1.15% to 1.20% p.a. with SGD fixed deposits from 1 – 15 Dec
- UOB offers 1% p.a. for 13-mth SGD fixed deposits from 1 – 31 Dec 2016
- Sing Investments & Finance offers 0.6% to 1.30% p.a. fixed deposits from 21 Nov
- ANZ 0.7% to 1.15% p.a. 8-mth Time Deposit Promo from 16 Nov – 31 Dec
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