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State Bank of India (SBI) Singapore is offering a promotional SGD time deposit rate of 1.15% p.a. for a 6-month tenor 💹🏦💰
Looking for a lower-risk place to park spare cash while keeping the tenor short? This fixed-rate placement is positioned for capital preservation 🔒 with a predictable return 📈.
Promo highlights 📌
- Rate: 1.15% p.a.
- Tenor: 6 months ⏳
- Currency: SGD 🇸🇬
- Applies to: fresh placements and renewals
Key details (summary table) 📊
| Currency | Tenor | Promotional interest rate (p.a.) | Minimum deposit |
|---|---|---|---|
| SGD | 6-month | 1.15% | SGD 50,000 |
This promo is relevant for both new customers placing fresh funds and existing depositors renewing a maturing placement ✅. Rates and acceptance may vary by final bank checks, so confirm details before funds are placed 🧾.
How to apply 📝📍
Placement is done in-branch. Visit an outlet using the SBI Singapore branch locator and request the promotional 6-month SGD time deposit 🏦.
Relationship Managers are available for guided assistance, including placement or renewal and document submission 🤝.
Branches (for walk-in placement) 📍 Cecil Street: 139 Cecil Street #01-01 (YSY Building); Ang Mo Kio: Block 710A Ang Mo Kio Avenue 8 #01-2633; Jurong East: Block 130 Jurong Gateway Road #01-233; Little India: Block 677 Rangoon Road #01-02; Marine Parade: Block 83 Marine Parade Central #01-564. ℹ Note: Verdun Road branch is merged into the Little India branch.
Handy prep checklist ✅
- Bring required identification documents
- Have cleared funds ready for placement 💳
- For renewals, have the existing time deposit details on hand 🔄
Important terms to note ⚠️
- Rate effective date: Promotional interest rate is stated as w.e.f 16-Feb-2026 and is for a limited period only 🗓️💹
- Minimum placement: Minimum deposit applies per individual or per joint account ✅
- Deposit cap: Multiple deposits are allowed as long as the maximum amount per individual is less than SGD 1,000,000 🧮
- Start Date: Term Deposit starts when funds received are cleared (“Start Date”); promo rate applies from Start Date when duly completed account-opening forms are received and accepted 🧾
- Auto roll over: Unless instructed in writing at least three working days before maturity, deposit renews automatically for the same period at the prevailing board rate at renewal 🔄
- Premature withdrawal: Promotional rates do not apply; for SGD deposits, the board rate (at time of placement) is accorded for completed quarters only ⚠️
- Bank’s right to change: SBI may discontinue/vary the promotion or revise rates without prior notice 📣
Deposit insurance note: SGD deposits of non-bank depositors are insured by SDIC up to S$100,000 in aggregate per depositor per Scheme member by law; foreign currency deposits and certain investment products are not insured 🛡️
For a straightforward fixed-return placement over half a year, this SBI Singapore promo can suit surplus SGD funds earmarked for short-term goals 🎯. Confirm the final eligibility checks and deposit minimums in-branch to avoid surprises ✅.
- For full promotional details and the latest fine print, refer to the official SBI Singapore promotions page 📄.
- Want to compare more deals across Singapore banks? Head over to this fixed deposit comparison guide 🔍📈.
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