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 free 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)
- 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
- ANZ 0.7% to 1.15% p.a. 8-mth Time Deposit Promo from 16 Nov
- RHB offers 1.20% to 1.35% p.a. for 12-mth SGD fixed deposits from 4 Jan – 31 Mar 2017
- Standard Chartered offers rates of up to 1.25% p.a. for 7 & 10 month time deposits from 3 – 31 Jan 2017
- State Bank of India offers 1.15% to 1.50% p.a. time deposits from 12 Dec 2016
- UOB offers up to 1% p.a. when you deposit fresh funds from 3 Jan – 28 Feb 2017
- CIMB Bank offers 1.15% to 1.25% p.a. with latest SGD fixed deposit promo valid from 9 – 20 Jan 2017
- ANZ offers 1.25% p.a. plus up to $552 cash card gift with 6-mth time deposit from 13 Jan 2017
- Bank of China offers up to 1.30% p.a. with 6-month time deposits from 27 Dec 2016
- Hong Leong Finance offers 0.80% to 1.30% p.a. fixed deposits from 12 Jan 2017
- UOB new 6yr structured deposit with 13% total guaranteed minimum interests from 10 – 19 Jan 2017
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