(Updated Dec 2016) Best Singapore Deposit Rates: Fixed Deposit, Time Deposit, Incremental Balance & More UPDATED 4 Dec 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% p.a. Fresh Funds Deposit Promo from 1 Nov – 31 Dec 2016
  5. Maybank: 1.40% to 1.80% p.a. Time Deposit Promo
  6. CIMB StarSaver Account 0.8% p.a. on the entire account balance (min $5,000 balance)
  7. CIMB FastSaver account 1.0% p.a. on first $50,000, 0.6% thereafter (min $1,000 balance)
  8. ICBC Bank: Up To 1.18% p.a. Fixed Deposits & Regular Savings Accounts from 5 Nov 2016
  9. OCBC: 0.90% p.a. 12-mth Time Deposit from 4 Nov 2016
  10. 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)
  11. CIMB Bank offers 1.15% to 1.20% p.a. with SGD fixed deposits from 1 – 15 Dec
  12. UOB offers 1% p.a. for 13-mth SGD fixed deposits from 1 – 31 Dec 2016
  13. Sing Investments & Finance offers 0.6% to 1.30% p.a. fixed deposits from 21 Nov
  14. ANZ 0.7% to 1.15% p.a. 8-mth Time Deposit Promo from 16 Nov – 31 Dec

Last updated 4 Dec 2016. Click these links for latest Fixed Deposit or Time Deposit Promo

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