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ICBC Singapore trims fixed deposit returns amid market recalibration from 13 Jun 2025
In a notable shift aligning with broader economic movements, the Industrial and Commercial Bank of China (ICBC), Singapore branch, has revised its fixed deposit (FD) promotional interest rates, effective from 13 June 2025. The revised rates offer up to 1.85% per annum (p.a.), a reduction from the previous high of 2.05% p.a. which had been in effect since 9 June 2025.
Fixed Deposit Rates as of 13 June 2025
Over-the-Counter Promotion
The updated counter promotion offers rates based on deposit size. Customers placing SGD200,000 or more benefit from higher returns, structured as follows:
| SGD | Counter Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.65% | 1.75% |
| 3 months | 1.70% | 1.80% |
| 6 months | 1.65% | 1.75% |
| 9 months | 1.65% | 1.75% |
| 1 year | 1.65% | 1.75% |
Digital Banking Promotion
ICBC’s E-banking option provides higher rates starting from a modest S$500, encouraging wider adoption of its online platform. The E-banking promotional rates are as follows:
| SGD | E-Banking Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.75% | 1.80% |
| 3 months | 1.80% | 1.85% |
| 6 months | 1.75% | 1.80% |
| 9 months | 1.75% | 1.80% |
| 1 year | 1.75% | 1.80% |
These rate tiers offer options tailored to both conservative and digitally engaged investors, supporting a variety of savings strategies across tenors and deposit sizes.
Minimum Deposit Thresholds and Channels
ICBC continues to uphold its dual-channel deposit system. For in-branch fixed deposits, a minimum of S$20,000 is required. Meanwhile, digital banking customers can begin saving with as little as S$500. This structure ensures flexibility and accessibility for customers across financial spectrums.
Penalty-Free Early Withdrawal Policy
Further enhancing its appeal, ICBC maintains a customer-centric early withdrawal policy. Fixed deposit holders who opt for early redemption will not face penalties; instead, they will be paid interest at the current account rate, allowing access to funds without forfeiting all returns.
How to Apply
Interested applicants may apply online or visit any ICBC Singapore branch for assistance. For comparisons across banks, view our FD rate comparison page.
Note that these promotional rates are subject to change and are available for a limited time only.
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