ICBC Singapore Revised FD promo rates from 1 Dec 2025 offers up to 1.4% p.a.

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From 1 Dec 2025, ICBC Singapore is rolling out refreshed fixed deposit (FD) promotional rates 🎉

Industrial and Commercial Bank of China (ICBC) Singapore has updated its fixed deposit promotional rates for Singapore dollar placements. With effect from 1 Dec 2025, the highest rate offered is 1.4% per annum (p.a.). This reflects an increase of up to 0.25% for the 3-mth and 6-mth e-banking tenors compared with the 16 Sep 2025 revision.

These promotional rates apply strictly to Fresh Funds – deposits that are newly brought into ICBC Singapore and not transferred from existing ICBC accounts. Funds coming from internal transfers or rollovers of existing fixed deposits generally do not qualify under this campaign, so customers should set aside eligible cash before heading to the branch or logging in to e-banking.

Fixed Deposit Promotional Rates from 1 Dec 2025

🏦 Over-the-Counter (OTC) rates

Customers who prefer face-to-face service at an ICBC Singapore branch can place fixed deposits over the counter and enjoy tiered promotional rates based on deposit size. The minimum placement for OTC SGD fixed deposits under this campaign is S$20,000 per tenor, with higher balances earning slightly better returns.

With these OTC rates, customers who are placing larger balances of at least S$200,000 enjoy a modest uplift in the promotional interest, which can make a noticeable difference for bigger deposits over time.

💻 E-banking rates

For customers who prefer convenience, ICBC’s e-banking platform offers slightly better rates and a much lower entry amount of S$500 per placement. This makes it easy for savers to start small, try out ICBC Singapore’s platform and still enjoy competitive fixed deposit returns:

The standout tenors are the 3-mth and 6-mth e-banking options, where the promotional rate reaches 1.4% p.a. regardless of whether the placement is below or above S$200,000. This can be attractive for customers who want short-term certainty on their returns without locking in funds for too long.

Good to know: There is no penalty fee for premature withdrawals. However, if a fixed deposit is withdrawn before maturity, interest will be paid at the prevailing current account rate instead of the promotional FD rate. This means customers retain flexibility to access their money, but may receive significantly lower interest if they choose to break the FD early.

Who might these ICBC fixed deposits suit?

These SGD fixed deposit promotions may be suitable for customers who:

• Prefer lower-risk, guaranteed returns rather than more volatile investments such as equities or unit trusts.
• Have short- to medium-term cash that is not needed for daily spending, such as emergency funds above their comfort level or savings earmarked for upcoming expenses.
• Are comfortable using digital channels and wish to take advantage of the lower S$500 entry amount and higher e-banking rates.
• Are consolidating funds from other banks and looking for a place to park Fresh Funds while monitoring interest rate trends.

Customers who anticipate needing their funds in the near future may still consider shorter tenors like 1 month or 3 months, which provide more frequent opportunities to re-evaluate rates and promotions across different banks.

Key considerations before placing a fixed deposit

Before placing a fixed deposit with ICBC Singapore, customers may wish to keep the following points in mind:

• Cash flow needs: It is generally prudent to keep sufficient money in a savings or current account for emergencies and regular expenses before locking in funds in a fixed deposit.
• Choice of tenor: Shorter tenors such as 3 months or 6 months provide more flexibility to switch if more attractive promotions appear, while longer tenors offer rate certainty for a longer period.
• Interest payment: Fixed deposits typically pay interest at maturity. Customers should take note of how and when interest will be credited to their account.
• Premature withdrawal impact: Although there is no penalty fee, withdrawing before maturity means interest will be paid at the prevailing current account rate, which is usually lower than the promotional FD rate.
• Comparing across banks: It can be useful to compare ICBC Singapore’s offers with other banks’ fixed deposit rates. Customers can refer to the full list of Singapore’s fixed deposit rates here to see how these promotions stack up in the wider market.
• Regulatory protection: In Singapore, eligible deposits of non-bank depositors are generally insured up to specified limits under the Deposit Insurance Scheme. Customers should refer to ICBC Singapore and the relevant authorities for the latest details on coverage.

How to apply

Interested customers can conveniently apply online via ICBC Singapore’s e-banking platform. New and existing customers may follow the bank’s on-screen instructions to perform an e-banking FD placement once their accounts are ready and Fresh Funds have been credited.

Those who prefer in-person assistance can head down to any ICBC Singapore branch to place an OTC fixed deposit. It is advisable to bring along valid identification (such as NRIC or passport) and any documents the bank may require for account opening or verification.

Customers who are still exploring options can review the broader market by checking the curated list of Singapore’s fixed deposit rates before deciding how to allocate their savings.

Conclusion

With the latest promotional structure effective from 1 Dec 2025, ICBC Singapore continues to provide both over-the-counter and e-banking fixed deposit choices catering to different customer preferences. The combination of a relatively low S$500 entry point for e-banking, more favourable short-tenor promotional rates of up to 1.4% p.a. and flexibility on premature withdrawals (albeit at current account rates) makes these FDs a practical option for savers who value stability and convenience. As with any savings decision, customers who take time to understand the terms and compare against other banks’ promotions will be in a better position to stretch every dollar and maximise their interest earnings. 💡

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