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ICBC Singapore has refreshed its Singapore dollar Fresh Funds fixed deposit promotion 🎉, with promotional rates of up to 1.60% p.a. for selected tenors, placement channels and deposit tiers.
The current rate schedule is effective from 26 Aug 2026 and is available till further notice.
For cash that can be set aside for a fixed period, the promotion offers two placement routes: over-the-counter deposits from S$20,000 and e-banking deposits from S$500. The headline 1.60% p.a. rate applies to a 6-month e-banking placement of S$20,000 and above. Promotional rates and terms may change without prior notice, so check the displayed rate and maturity instructions before confirming a placement.
Compared with the earlier 29 Jul 2026 rates, the 6-month counter rate and the S$20,000-and-above e-banking rate each rose by 0.10 percentage points. The S$500-to-below-S$20,000 6-month e-banking rate and the other listed SGD promotional rates are unchanged.
🔎 Key points at a glance
- Fresh Funds are required: qualifying money must be newly brought into ICBC Singapore and must not originate from existing ICBC Singapore accounts.
- Counter minimum: S$20,000.
- E-banking minimum: S$500.
- Highest published promotional rate: 1.60% p.a. for 6 months via e-banking with S$20,000 and above.
- S$20,000-and-above e-banking tier: pays 0.05 percentage point more than the counter rate for every listed tenor 💹.
- Promotion period: available till further notice, with rates subject to change.
- Early withdrawal: the promotional rate will not apply. Interest is payable at the prevailing current account rate. ICBC’s promotion page says there is no penalty, while the promotion T&Cs reserve discretion to levy a premature-withdrawal fee, so confirm the latest treatment before proceeding.
📊 ICBC Singapore SGD fixed deposit promotional rates
1. Over-the-counter rates
Minimum counter placement: S$20,000.
| Tenor | S$20,000 and above |
|---|---|
| 1 month | 1.05% p.a. |
| 3 months | 1.25% p.a. |
| 6 months | 1.55% p.a. |
| 9 months | 1.40% p.a. |
| 1 year | 1.40% p.a. |
Counter placements can be handled with branch assistance. ICBC Singapore locations listed in the supplied material include Raffles Place at 6 Raffles Quay, #01-01; Chinatown Point, #01-10; Paya Lebar at 60 Paya Lebar Road, #01-33/34/35/36; Jurong East at 130 Jurong Gateway Road, #01-213/215/217; Sun Plaza, #02-18/19/20; iMall Marine Parade, #01-07; Waterway Point, #01-15A; Holland Village at 257 Holland Avenue; and AMK Hub, #B1-01.
2. E-banking rates
Minimum e-banking placement: S$500.
| Tenor | S$500 to below S$20,000 | S$20,000 and above |
|---|---|---|
| 1 month | 1.05% p.a. | 1.10% p.a. |
| 3 months | 1.25% p.a. | 1.30% p.a. |
| 6 months | 1.30% p.a. | 1.60% p.a. |
| 9 months | 1.10% p.a. | 1.45% p.a. |
| 1 year | 1.15% p.a. | 1.45% p.a. |
For S$20,000 and above, e-banking pays 0.05 percentage point more than the counter rate at every listed tenor 💹.
📈 Recent ICBC SGD promotional rate trend
| Effective date | 6-month counter rate, S$20,000+ | 6-month e-banking rate, S$20,000+ | Highest listed SGD promo rate |
|---|---|---|---|
| 28 May 2026 | 1.30% p.a. | 1.35% p.a. | 1.40% p.a. |
| 1 Jul 2026 | 1.40% p.a. | 1.45% p.a. | 1.45% p.a. |
| 29 Jul 2026 | 1.45% p.a. | 1.50% p.a. | 1.50% p.a. |
| 26 Aug 2026 | 1.55% p.a. | 1.60% p.a. | 1.60% p.a. |
The recent increases have been concentrated around the six-month tenor. The headline SGD promotional rate has climbed from 1.40% p.a. on 28 May to 1.60% p.a. on 26 Aug 2026. For reference, see the 28 May 2026 ICBC rates, 1 Jul 2026 ICBC rates and 29 Jul 2026 ICBC rates.
💡 Which placement may suit different cash needs?
- For S$500 to below S$20,000: e-banking is the promotional route shown in the current rate table.
- For S$20,000 and above: e-banking currently gives the stronger rate at every listed tenor.
- For the highest published rate: choose the 6-month e-banking tier at S$20,000 and above for 1.60% p.a., subject to the promotion remaining available.
- For quicker access to cash: a 1-month or 3-month tenor returns the principal sooner, though the applicable rate may be lower.
- For planned expenses: match the maturity date against upcoming school fees, travel, investments, renovation payments, insurance premiums or other known commitments before locking funds away.
- For liquidity planning: consider splitting available cash across more than one maturity date instead of placing the full amount into a single tenor. This can create staggered access to funds 📈.
Rates quoted on a per-annum basis are annualised. For tenors shorter than one year, the actual interest received will be lower than simply applying the headline percentage to the full principal for 12 months, and the bank’s applicable interest-calculation method will determine the final amount.
📝 Fresh Funds, maturity and early-withdrawal reminders
- Fresh Funds definition: funds transferred between existing ICBC Singapore accounts do not qualify as Fresh Funds. The money should come from outside existing ICBC Singapore account balances.
- Default maturity treatment: unless different maturity instructions are provided, the principal and interest will be renewed for the same tenor at ICBC’s prevailing fixed deposit board rate.
- Partial withdrawals: partial withdrawal is not allowed for the fixed deposit placement, so keep a separate emergency-cash buffer outside the deposit.
- Premature withdrawal: the promotional rate will not apply. The promotion page says there is no penalty and interest will be paid at the prevailing current account rate. The supplied promotion terms information also reserves discretion over premature-withdrawal charges, so confirm the latest treatment before proceeding.
- Non-business-day maturity: a maturity date falling on a Saturday, Sunday or Singapore public holiday is carried forward to the next business day.
- Offer combinations: the promotion cannot be combined with other ICBC offers, bundles or promotions unless otherwise stated.
- Rate changes: ICBC may revise, suspend or withdraw promotional rates and terms without prior notice.
🔗 More information and comparison tools
For a wider market view, browse this guide to Singapore’s fixed deposit rates. Official information is available from the ICBC Singapore fixed deposit promotion page, the ICBC Singapore branch contact page, and the Fixed Deposit Promotion Terms and Conditions (PDF).
By rate alone, the highest listed option is the 6-month e-banking tier for S$20,000 and above at 1.60% p.a. Smaller placements still have access from S$500, while counter service remains available from S$20,000. Before confirming any fixed deposit, compare the tenor, liquidity needs, maturity instructions and the live rate shown by ICBC Singapore so that spare cash is not locked away longer than intended. 💰
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