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ICBC Singapore has raised its Fresh Funds fixed deposit promotional interest rates to as high as 1.85% p.a.! 💰
The revised Singapore dollar (SGD) rates are effective from 12 Oct 2026, offering higher returns for selected deposit amounts and tenors.
The highest promotional rate of 1.85% p.a. is available for e-banking fixed deposit placements of S$200,000 and above, across the 6-month, 9-month and 12-month tenors. Smaller depositors are also catered for, with online placements starting from just S$500.
Compared with the previous rate schedule dated 29 Sep 2026, selected 6-month, 9-month and 12-month promotional rates have increased by 0.10 percentage points. Rates for the shorter 1-month and 3-month tenors remain unchanged.
Promotional rates are subject to changes without prior notice. Check the applicable interest rate and placement conditions before confirming a fixed deposit.
🔎 ICBC Singapore fixed deposit promotion highlights
- Highest promotional interest rate: 1.85% p.a. for qualifying e-banking placements of S$200,000 and above.
- Minimum e-banking placement: S$500, with promotional interest rates starting from 1.05% p.a.
- Minimum over-the-counter placement: S$20,000, with promotional interest rates of up to 1.80% p.a.
- Available promotional tenors: 1 month, 3 months, 6 months, 9 months and 1 year.
- Fresh Funds requirement: Money must come from outside existing ICBC Singapore accounts.
- Higher online rates: E-banking placements of S$20,000 and above receive an additional 0.05 percentage points compared with the corresponding counter promotional rates.
- Rate schedule: Updated on 12 Oct 2026.
📊 ICBC Singapore SGD fixed deposit promotional interest rates
The promotional interest rate depends on three factors: placement amount, deposit tenor and banking channel. All interest rates shown below are annualised, expressed as a percentage per annum (p.a.).
1. Over-the-counter fixed deposit rates
For deposits opened with branch assistance, the minimum qualifying placement is S$20,000. Larger placements of S$200,000 and above qualify for slightly higher rates on tenors of 6 months or longer.
| Tenor | S$20,000 to below S$200,000 | S$200,000 and above |
|---|---|---|
| 1 month | 1.05% | 1.05% |
| 3 months | 1.25% | 1.25% |
| 6 months | 1.75% | 1.80% |
| 9 months | 1.75% | 1.80% |
| 1 year | 1.75% | 1.80% |
For example, a S$20,000 counter placement on the 6-month promotional tenor qualifies for 1.75% p.a., while a placement of S$200,000 qualifies for 1.80% p.a. on the same tenor.
2. E-banking fixed deposit rates
📱 ICBC Singapore’s e-banking channel offers a significantly lower entry amount of S$500, alongside more attractive rates for qualifying deposits of S$20,000 and above.
| Tenor | S$500 to below S$20,000 | S$20,000 to below S$200,000 | S$200,000 and above |
|---|---|---|---|
| 1 month | 1.05% | 1.10% | 1.10% |
| 3 months | 1.25% | 1.30% | 1.30% |
| 6 months | 1.30% | 1.80% | 1.85% |
| 9 months | 1.10% | 1.80% | 1.85% |
| 1 year | 1.15% | 1.80% | 1.85% |
💡 Choosing between 6, 9 and 12 months: For e-banking deposits of S$20,000 and above, these three tenors offer the same annualised rate within each amount tier. A shorter tenor allows earlier access to the funds, while a longer tenor locks in the agreed rate for longer. The longer placement earns more total interest simply because the money remains deposited for more time.
💰 Illustrative interest: A S$200,000 e-banking placement earning 1.85% p.a. would generate approximately S$1,850 over six months or S$3,700 over 12 months. Actual interest depends on the placement and maturity dates and the bank’s calculation method.
For the smallest online placement tier, the 6-month tenor offers the highest available rate of 1.30% p.a., compared with 1.10% p.a. for 9 months and 1.15% p.a. for 1 year. A longer deposit term therefore does not necessarily translate into a higher interest rate.
📈 How the latest rates compare with 29 Sep 2026
The latest revision represents another increase in ICBC Singapore’s longer-tenor fixed deposit promotional rates. Compared with the previous promotion effective 29 Sep 2026, the headline rate has risen from 1.75% p.a. to 1.85% p.a., an improvement of 0.10 percentage points.
The changes for the 6-month, 9-month and 1-year tenors are summarised below:
| Placement channel and amount | 29 Sep rate | 12 Oct rate | Change |
|---|---|---|---|
| Counter, S$20,000 to below S$200,000 | 1.65% | 1.75% | +0.10 pp 💹 |
| Counter, S$200,000 and above | 1.70% | 1.80% | +0.10 pp 💹 |
| E-banking, S$20,000 to below S$200,000 | 1.70% | 1.80% | +0.10 pp 💹 |
| E-banking, S$200,000 and above | 1.75% | 1.85% | +0.10 pp 💹 |
The revised rates also mean that e-banking continues to offer a 0.05 percentage point advantage over counter placements at the corresponding deposit tiers of S$20,000 and above. The promotional rates for 1-month and 3-month placements, along with the S$500-to-below-S$20,000 e-banking tier, have not changed.
💰 How does ICBC compare with other 6-month fixed deposits?
Other banks are currently advertising higher interest rates for comparable 6-month SGD fixed deposit placements. Here is a quick comparison of selected promotional rates:
| Bank / Channel | S$500 placement | S$20,000 placement | S$200,000 placement |
|---|---|---|---|
| ICBC Singapore E-banking | 1.30% | 1.80% | 1.85% |
| Bank of China Mobile Banking | 1.70% | 1.90% | 2.05% |
| RHB Personal Banking | Not available | 2.00% | 2.00% |
All rates are quoted per annum. ICBC requires Fresh Funds, Bank of China’s advertised rates apply to new placements through its mobile banking app, while RHB’s referenced promotion covers new placements and qualifying renewals. RHB Premier Banking and special new-to-bank rates are excluded from this comparison.
For details, see the Bank of China promotion from 12 Oct 2026 and RHB promotion from 9 Oct 2026. Rates and conditions may change without prior notice.
🏦 Where to place an ICBC Singapore fixed deposit
Existing ICBC Singapore customers with access to e-banking can consider the online placement channel, particularly for the higher promotional rates. For assistance with counter placements, ICBC Singapore has banking locations across the island, including:
- Raffles Place: 6 Raffles Quay, #01-01.
- Chinatown Point: #01-10.
- Paya Lebar: 60 Paya Lebar Road, #01-33/34/35/36.
- Jurong East: 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: 257 Holland Avenue.
- AMK Hub: #B1-01.
Branch operating hours and service availability may differ by location. Confirm the relevant arrangements through ICBC Singapore’s official contact information before making a trip.
For those new to ICBC Singapore, the bank discontinued online account opening on 15 May 2026. New customers must visit an ICBC Singapore branch in person to open an account before using the relevant e-banking facilities. The bank lists a S$200 minimum initial deposit for account opening, which is distinct from the S$500 minimum online fixed deposit placement. The notice does not clarify whether a separate account balance must be maintained in addition to the intended fixed deposit. Check the funding and account-opening arrangements with the branch. See the official ICBC Singapore account-opening notice for the required documents.
⚠️ Important conditions to know before placing funds
Although the promotional rates may be attractive, several conditions can affect eligibility and the final interest received.
- Fresh Funds only: Qualifying deposits must originate from outside existing ICBC Singapore accounts. Transfers between ICBC accounts do not qualify as Fresh Funds.
- Placement minimums: The promotional rates require at least S$500 via e-banking or S$20,000 over the counter. The deposit amount determines the applicable interest-rate tier.
- Promotional interest and maturity: The applicable promotional rate is intended for deposits held until maturity. Early withdrawals receive interest at the prevailing current account rate rather than the promotional fixed deposit rate.
- No partial withdrawal: Partial withdrawals are not permitted under the promotional fixed deposit conditions.
- Automatic renewal: Unless alternative maturity instructions are provided, the principal and accumulated interest will be renewed for the same tenor at ICBC Singapore’s prevailing fixed deposit board rate. This may differ from the original promotional rate.
- Non-business-day maturity: If the maturity date falls on a Saturday, Sunday or Singapore public holiday, it will be carried forward to the next business day.
- Combining promotions: This offer cannot be combined with other ICBC promotions, offers or bundles unless expressly permitted.
- Changes to promotional rates: The bank may revise promotional rates, available tenors or other promotion details without prior notice. Rates applicable to new placements should be checked at the point of confirmation.
⚠️ Watch the automatic renewal rate: ICBC’s board-rate schedule dated 12 Oct 2026 lists just 0.90% p.a. for 12-month SGD deposits, compared with the promotional maximum of 1.85% p.a. Unless different maturity instructions are given, the deposit renews at the prevailing board rate when it matures. The future renewal rate may differ from today’s quoted board rate.
🔗 Official ICBC Singapore information and more fixed deposit comparisons
For the latest published rates and applicable conditions, refer to the official ICBC Singapore fixed deposit promotion page. Additional assistance is available through the ICBC Singapore Contact Us page, while the full conditions are covered in the Fixed Deposit Promotion Terms and Conditions (PDF).
For a broader comparison across banks, browse the regularly featured guide to Singapore’s fixed deposit rates. Compare minimum placement amounts, eligibility requirements, tenors and available channels rather than relying on headline interest rates alone.
💡 Final takeaway: ICBC Singapore’s latest Fresh Funds promotion provides a choice of promotional fixed deposit tenors, with online deposits from S$500 and a top rate of 1.85% p.a. for S$200,000 and above. For placements of S$20,000 or more, e-banking generally offers the better promotional return compared with counter placement. Match the deposit amount and tenor to the intended savings plan, confirm that the funds meet the Fresh Funds requirement, and check the final applicable rate before proceeding.
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