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ICBC Singapore has refreshed its Singapore dollar Fresh Funds fixed deposit promotion 🎉, with promotional rates of up to 1.75% p.a..
The headline rate applies to e-banking placements of S$200,000 and above for 6-month, 9-month and 1-year tenors. The latest displayed rate schedule is dated 29 Sep 2026, and e-banking placements start from S$500.
Promotional rates and terms can still be revised, suspended or withdrawn without prior notice, so check the displayed rate before confirming a placement.
🔎 Key points at a glance
- Fresh Funds required: qualifying money must be newly brought into ICBC Singapore and cannot originate from existing ICBC Singapore accounts.
- Counter minimum: S$20,000.
- E-banking minimum: S$500.
- Top advertised rate: 1.75% p.a. for e-banking placements of S$200,000 and above on the 6-month, 9-month and 1-year promotional tenors.
- Early withdrawal: promotional fixed deposit interest does not apply; interest is paid at the prevailing current account rate.
📊 ICBC Singapore SGD fixed deposit promotional rates
1. Over-the-counter rates
The minimum over-the-counter placement is S$20,000. Rates increase for the larger deposit tier on the 6-month, 9-month and 1-year tenors.
| Tenor | S$20,000 (inclusive) to S$200,000 | S$200,000 (inclusive) and above |
|---|---|---|
| 1 month | 1.05% | 1.05% |
| 3 months | 1.25% | 1.25% |
| 6 months | 1.65% | 1.70% |
| 9 months | 1.65% | 1.70% |
| 1 year | 1.65% | 1.70% |
Counter placements can be handled with branch assistance. ICBC Singapore locations 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
The minimum e-banking placement is S$500, making the online channel accessible at a much lower starting amount than counter placement.
| Tenor | S$500 (inclusive) to S$20,000 | S$20,000 (inclusive) to S$200,000 | S$200,000 (inclusive) and above |
|---|---|---|---|
| 1 month | 1.05% | 1.10% | 1.10% |
| 3 months | 1.25% | 1.30% | 1.30% |
| 6 months | 1.30% | 1.70% | 1.75% |
| 9 months | 1.10% | 1.70% | 1.75% |
| 1 year | 1.15% | 1.70% | 1.75% |
For S$20,000 and above, e-banking is 0.05 percentage points higher than the corresponding counter rate at every listed promotional tenor 💹. For the smallest e-banking tier, the 6-month tenor carries the highest listed rate at 1.30% p.a..
Rate trend
Compared with the earlier 26 Aug 2026 rates, the 1-month and 3-month rates are unchanged, as is the S$500-to-S$20,000 e-banking tier. The larger increases are concentrated in the 6-, 9- and 12-month tenors, while the latest schedule also introduces separate S$200,000-and-above promotional tiers.
| Channel / tenor | 26 Aug: S$20k+ | 29 Sep: S$20k-S$200k tier | 29 Sep: S$200k+ tier | Change to middle tier | Change to highest tier |
|---|---|---|---|---|---|
| Counter – 6 months | 1.55% | 1.65% | 1.70% | +0.10 pp 💹 | +0.15 pp 💹 |
| Counter – 9 months | 1.40% | 1.65% | 1.70% | +0.25 pp 💹 | +0.30 pp 💹 |
| Counter – 1 year | 1.40% | 1.65% | 1.70% | +0.25 pp 💹 | +0.30 pp 💹 |
| E-banking – 6 months | 1.60% | 1.70% | 1.75% | +0.10 pp 💹 | +0.15 pp 💹 |
| E-banking – 9 months | 1.45% | 1.70% | 1.75% | +0.25 pp 💹 | +0.30 pp 💹 |
| E-banking – 1 year | 1.45% | 1.70% | 1.75% | +0.25 pp 💹 | +0.30 pp 💹 |
The headline SGD promotional rate has therefore risen from 1.60% p.a. on 26 Aug to 1.75% p.a. on 29 Sep 2026. Looking further back, the tracked headline rate has climbed from 1.40% p.a. on 28 May 2026, an increase of 0.35 percentage points over four months.
⚠️ Important fixed deposit conditions
- Fresh Funds: funds must not originate from existing ICBC Singapore accounts; transfers between ICBC accounts do not count as Fresh Funds.
- Partial withdrawals: partial withdrawal is not allowed, and the fixed deposit must be held to maturity for the promotional interest rate to be payable.
- Default maturity treatment: unless other maturity instructions are provided, the principal and interest are renewed for the same tenor at ICBC’s prevailing fixed deposit board rate.
- Weekend or public-holiday maturity: if the maturity date falls on a Saturday, Sunday or Singapore public holiday, it is carried forward to the next business day.
- Offer combinations: the promotion is not valid with other ICBC offers, bundles or promotions unless otherwise stated.
- Rate changes: ICBC may change promotional rates and tenors without prior notice for new placements.
📌 Other current SGD fixed deposit offers to compare
Headline rates are not directly like-for-like, as minimum placements, banking tiers, channels and tenors differ. Some current listed alternatives include:
| Offer | Running from | Headline rate | Key condition behind headline rate |
|---|---|---|---|
| HL Bank Singapore Fixed Deposit | 24 Sep 2026 | Up to 2.10% p.a. | 24 months; online placements start from S$10,000 |
| RHB Bank Singapore Fixed Deposit | 28 Sep 2026 | Up to 2.00% p.a. | 12-month Premier Banking rate; minimum FD placement S$20,000 and Premier TRB requirement applies |
| Bank of China Singapore Time Deposit | 28 Sep 2026 | Up to 2.00% p.a. | S$200,000 via Mobile Banking for 6, 9 or 12 months |
| Maybank Singapore SGD Time Deposit | 24 Sep 2026 | Up to 1.85% p.a. | Minimum placement S$20,000; top standalone rates on 6- and 12-month tenors |
| CIMB Singapore SGD Fixed Deposit | 21 Sep 2026 | Up to 1.85% p.a. | 12-month Preferred Banking online placement from S$10,000; Personal Banking tops out at 1.80% p.a. |
With e-banking starting from S$500 and the top promotional rate reaching 1.75% p.a., the refreshed schedule gives a broader range of deposit sizes to compare. Before locking in a tenor, check the applicable amount tier, placement channel and displayed rate so the intended promotional rate is selected.
For a wider market view, browse the guide to Singapore’s fixed deposit rates. Official information is available from the ICBC Singapore fixed deposit promotion page, the current ICBC Singapore Contact Us page, the ICBC account-opening notice, and the Fixed Deposit Promotion Terms and Conditions (PDF).
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