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Maximise your returns with higher SGD time deposit rates
Update 2 Sep: State Bank of India Singapore New Time Deposit Rates of Up to 3.15% p.a. from 2 Sep
State Bank of India (SBI) Singapore has a rise in its SGD time deposit interest rates, now offering up to 3.40% per annum. This increase represents a significant enhancement compared to April 2024’s rates, with an uptick of up to 0.15%.
Savvy customers can seize this opportunity by investing with a minimum deposit of SGD 50,000. The promotional rates are subject to specific terms and conditions and are only available for a limited period.
Details of the Promotional Rates:
| Currency | Tenor | Promotional Interest Rate* (p.a.) | Minimum Deposit |
|---|---|---|---|
| SGD | 6-month | 3.40% | SGD 50,000 |
| SGD | 12-month | 3.20% | SGD 50,000 |
How to Apply
To take advantage of these competitive rates, interested individuals can apply by visiting any SBI branch in Singapore. SBI’s Relationship Managers are ready to assist with the application process and provide detailed information about the promotion.
Terms and Conditions
- This promotion is applicable for both fresh and renewal of funds for a limited period.
- The minimum deposit requirement is SGD 50,000, applicable per individual or joint account in the specified currency.
- Customers can place multiple deposits, provided the total does not exceed SGD 1,000,000 per individual in the currency of the deposit.
- The start date of the term deposit is the date when funds are cleared by SBIS (“Start Date”). The promotional rates apply only from this Start Date, given that duly completed Account Opening Forms are received and accepted for processing by SBIS.
For more information on the promotion and application details, click here.
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