(Updated May 2017) Best Singapore Deposit Rates: Fixed Deposit, Time Deposit, Incremental Balance & More UPDATED 12 May 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

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. Maybank offers up to 1.30% p.a. when you deposit fresh funds into an iSAVvy Savings account from 1 Mar – 31 May
  6. RHB offers up to 1% p.a. with High-Yield savings account from 27 Jan 2017
  7. Standard Chartered eSaver offers up to 1.30% p.a. with fresh funds deposit from 1 Apr – 31 May
  8. State Bank of India offers 1.25% to 1.35% p.a. time deposits
  9. Earn up to 1.10% p.a. with Maybank’s SGD Time Deposit from 7 Mar
  10. 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)
  11. RHB offers 1.10% to 1.20% p.a. for 12-mth SGD fixed deposits from 26 Apr
  12. OCBC offers 1.00% p.a. with 12-mth time deposit from 7 May 2017 NEW
  13. Standard Chartered offers up to 0.95% p.a. for 5-mth time deposits from 1 – 31 May 2017 NEW
  14. Earn up to 2.16% p.a. with the latest Singapore Savings Bond. Apply from 2 – 26 May 2017 NEW
  15. CIMB Bank offers 1.20% to 1.25% p.a. with latest SGD fixed deposit promo valid from 28 Apr – 15 May NEW
  16. UOB offers up to 1.08% p.a. when you deposit fresh funds from 1 May – 30 Jun NEW
  17. Sing Investments & Finance offers 0.78% to 1.28% p.a. fixed deposits from 12 May NEW

Last updated 12 May 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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