(Updated Oct 2016) Best Singapore Deposit Rates: Fixed Deposit, Time Deposit, Incremental Balance & More UPDATED 8 Oct 2016

The Best Deposit 25 Sep 2016

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):

  1. 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
  2. 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)
  3. Maybank: Up to 1.30% p.a. Fresh Funds Deposit Promo from 1 Sep – 31 Dec
  4. UOB: Up to 1.28% p.a. Fresh Funds Deposit Promo from 1 Sep – 31 Oct 2016
  5. UOB: 1.25% p.a. 13-mth SGD Fixed Deposit Promo from 1 – 31 Oct
  6. Maybank: 1.40% to 1.80% p.a. Time Deposit Promo
  7. Standard Chartered: Up to 1.70% p.a. Fresh Funds Deposit Promo from 1 Oct – 30 Nov 2016
  8. CIMB StarSaver Account 0.8% p.a. on the entire account balance (min $5,000 balance)
  9. ICBC SGD Fixed Deposit Promotion 1% to 1.5%
  10. CIMB: 1.15% p.a. 6-mth SGD Fixed Deposit Promo from 1 – 31 Oct 2016
  11. State Bank of India: 1.45% to 1.50% p.a. 12-mth Time Deposits from 8 – 31 Oct 2016
  12. Hong Leong Finance: 0.65% to 1.40% p.a. Fixed Deposits from 8 Oct 2016
  13. Sing Investments & Finance: 0.65% to 1.50% p.a. Fixed Deposits from 24 Aug 2016
  14. OCBC: 1.00% p.a. 12-mth Time Deposit From 8 Oct 2016

Last updated 8 Oct 2016. Click these links for latest Fixed Deposit or Time Deposit Promo

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Get $120 cashback when you apply for a Citibank card at www.citibank.com.sg. Plus get additional welcome vouchers when you apply for a Citibank Rewards Visa Card!


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