(Updated Dec 2017) Best Singapore Deposit Rates: Fixed Deposit, Time Deposit, Incremental Balance & More UPDATED 7 Dec 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. Maybank: Reach up to 1.50% p.a. on your savings when you deposit fresh funds from 1 Sep – 31 Dec 2017
  8. OCBC offers 1.1% p.a. with 12-mth time deposit from 6 Oct 2017
  9. Hong Leong Finance offers 1.10% to 1.25% p.a. fixed deposits from 24 Oct 2017
  10. Maybank: Earn up to 1.30% p.a. with the latest SGD Time Deposit promo! From 1 Nov
  11. CIMB Bank: Earn 1.15% to 1.25% p.a. with latest SGD fixed deposit promo! Valid from 8 Nov – 15 Dec 2017
  12. State Bank of India: Earn 1.30% to 1.40% p.a. with 12-mth time deposits! Valid from 25 Nov – 31 Dec 2017 NEW
  13. Sing Investments & Finance: Earn 0.85% to 1.30% p.a. with fixed deposits! From 29 Nov 2017 NEW
  14. Singapore Savings Bond (SSB): Earn up to 2.13% p.a. in this month’s bond! Apply from 2 – 26 Dec 2017 The Jan 2018 Savings Bond has the highest interest rates so far for years 1 to 3! NEW
  15. Standard Chartered: Earn up to 1.30% p.a. for 7-mth & 10-mth time deposits! Valid from 1 – 31 Dec NEW
  16. UOB offers 1.15% p.a. for 10-mth SGD fixed deposits from 1 – 31 Dec NEW
  17. Standard Chartered: Earn up to 1.25% p.a. when you deposit fresh funds into eSaver from 1 Dec 2017 – 31 Jan 2018 NEW
  18. Hong Leong Finance: Earn 1.00% to 1.28% p.a. with 6/12/15 month fixed deposits! From 7 Dec NEW

Last updated 7 Dec 2017. Click these links for latest Fixed Deposit or Time Deposit Promo

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Get a FREE American Tourister Caravan 70cm TSA luggage (worth S$260) (with min spend of S$600 within a month of Card Account Opening Date) and 2-years annual fees waiver when you sign up for a HSBC Revolution credit card at www.hsbc.com.sg.

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