 We are now on WhatsApp Channel. Click to join |
SBI Singapore is offering promotional rates of up to 1.35% p.a. on selected SGD time deposits 🔒
Looking for a relatively lower-risk place to park spare SGD for a fixed period? This SBI Singapore promotion keeps things straightforward with a defined tenor, a fixed promotional return and branch-based assistance for both new placements and renewals 😊
Key details at a glance 📊
| Currency | Tenor | Promotional Interest Rate* (p.a.) | Minimum Deposit |
|---|---|---|---|
| SGD | 6-month | 1.35% | SGD 50,000 |
| SGD | 12-month | 1.20% | SGD 50,000 |
Rates are quoted on a per-annum basis. Actual interest credited may vary depending on the bank’s calculation method and the placement’s exact start and maturity dates.
The offer covers fresh placements as well as renewals of maturing deposits, making it useful for existing SBI customers and those placing new funds. Final acceptance remains subject to the bank’s checks and documentation requirements 🧾
How placement works 📝
Placement is available in branch. Start with the SBI Singapore branch locator to find the most convenient outlet 📍
Relationship Managers can assist with placements, renewals and submission of the required forms 🤝
Branch locations 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
Useful preparation checklist ✅
- Bring the necessary identification documents
- Ensure funds are cleared and ready for placement 💳
- Keep existing time deposit details on hand for renewals 🔄
- Confirm whether the placement is under an individual or joint account
Important terms to note ⚠️
- Effective date: Promotional rates take effect from 20 Apr 2026 and are available for a limited period only 🗓️
- Minimum placement basis: The minimum deposit applies per individual or per joint account
- Maximum amount: Multiple deposits are allowed, provided the total maximum amount per individual is less than SGD 1,000,000
- Start date of deposit: The term deposit starts when cleared funds are received and the completed forms are received and accepted by the bank 🧾
- Auto-renewal: Unless written instructions are given at least three working days before maturity, the deposit will renew automatically for the same period at the prevailing board rate at the time of renewal 🔄
- Premature withdrawal: The promotional rate will not apply. For SGD placements, the board rate at the time of placement applies for completed quarters only.
- Changes to promotion: SBI may discontinue, vary or revise the promotion and its rates without prior notice 📣
Deposit insurance reminder 🛡️
Singapore-dollar deposits of non-bank depositors are insured under the SDIC scheme 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 the latest promotional details and full terms, refer to the official SBI Singapore promotions page 📄. For broader comparisons across deposit products in Singapore, see this fixed deposit comparison guide 🔍
For savers who prefer certainty and a clear holding period, this SBI Singapore time deposit promotion is a straightforward option for parking larger SGD balances. The 6-month tenor may appeal to those seeking a shorter commitment, while the 12-month option offers a longer fixed placement with the same entry point 👍
Leave a Reply