(Updated Oct 2017) Best Singapore Deposit Rates: Fixed Deposit, Time Deposit, Incremental Balance & More UPDATED 17 Oct 2017

The Best Deposit 25 Sep 2016

Deposits have a much lower risk as compared to other volatile products. They offer a better peace of mind and a higher level of 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 but do take note banks may charge for large cash deposits

Newer promotions are added to the bottom of the list

  1. 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
  2. CIMB StarSaver Account 0.8% p.a. on the entire account balance (min $5,000 balance)
  3. CIMB FastSaver account 1.0% p.a. on first $50,000, 0.6% thereafter (min $1,000 balance)
  4. ICBC Bank offers 1.25% to 1.30% p.a. 12-mth fixed deposits from 22 Feb 2017
  5. RHB offers up to 1% p.a. with High-Yield savings account from 27 Jan 2017
  6. Enjoy up to 1.55% p.a. on Maybank 24-month SGD Time Deposit from 12 Apr 2017 (10K time deposit for every 1K savings deposited)
  7. UOB offers up to 1.10% p.a. when you deposit fresh funds from 4 Sep – 31 Oct 2017
  8. Maybank: Reach up to 1.50% p.a. on your savings when you deposit fresh funds from 1 Sep – 31 Dec 2017
  9. Sing Investments & Finance offers 0.85% to 1.25% p.a. fixed deposits from 19 Sep 2017
  10. State Bank of India offers 1.25% to 1.35% p.a. time deposits from 28 Sep 2017
  11. Maybank offers up to 9% with 5-years structured deposit! Apply from 29 Sep – 27 Oct 2017 NEW
  12. UOB offers 1.15% p.a. for 10-mth SGD fixed deposits from 2 – 31 Oct NEW
  13. Standard Chartered: Earn up to 1.20% p.a. when you deposit fresh funds into eSaver from 1 Oct – 30 Nov NEW
  14. OCBC offers 1.1% p.a. with 12-mth time deposit from 6 Oct 2017 NEW
  15. Hong Leong Finance offers 1.05% to 1.25% p.a. fixed deposits from 4 Oct 2017 NEW
  16. CIMB Bank: Earn 1.15% to 1.18% p.a. with latest SGD fixed deposit promo! Valid from 17 – 31 Oct 2017 NEW

Last updated 17 Oct 2017. 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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