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ICBC Singapore has refreshed its Singapore dollar Fresh Funds fixed deposit promotion 🎉, with rates of up to 1.50% p.a. for selected tenors, placement channels and deposit tiers.
The refreshed rates apply from 29 July 2026, giving cash savers another short-to-medium-term option for spare funds. Promotional rates, tenors and availability may change without prior notice, so confirm the displayed rate before completing a placement.
Compared with the earlier 1 Jul 2026 rates, both 6-month options have risen by 0.05 percentage point. The counter rate moves from 1.40% to 1.45% p.a., while the S$20,000-and-above e-banking rate moves from 1.45% to 1.50% p.a.. The other listed SGD promotional rates are unchanged 💹.
🔎 Promotion highlights
- Fresh Funds are required: the placement amount must be newly brought into ICBC Singapore and must not be transferred from existing ICBC Singapore accounts.
- Counter placements start from S$20,000: branch-assisted placements carry one promotional rate tier across the listed tenors.
- E-banking placements start from S$500: the lower minimum can make the promotion more accessible for smaller deposit amounts.
- The highest rate is 1.50% p.a.: this applies to the 6-month e-banking tenor for deposits of S$20,000 and above.
- Higher-value e-banking placements earn more: the S$20,000-and-above online tier exceeds the counter rate across every listed tenor.
- Early withdrawal can reduce returns: promotional interest may not be paid when a fixed deposit is withdrawn before maturity.
Fixed deposit promotional rates
1. Over-the-counter SGD fixed deposit rates
Minimum counter placement: S$20,000
| SGD | Counter promotion rate |
|---|---|
| Tenor | S$20,000 and above |
| 1 month | 1.05% |
| 3 months | 1.25% |
| 6 months | 1.45% |
| 9 months | 1.40% |
| 1 year | 1.40% |
Counter placements can be made with branch assistance. ICBC Singapore locations include 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) and AMK Hub (#B1-01). For assistance, call +65 6369 5588.
2. E-banking SGD fixed deposit rates
Minimum e-banking placement: S$500
| SGD | E-banking promotion rates | |
|---|---|---|
| Tenor | S$500 to below S$20,000 | S$20,000 and above |
| 1 month | 1.05% | 1.10% |
| 3 months | 1.25% | 1.30% |
| 6 months | 1.30% | 1.50% |
| 9 months | 1.10% | 1.45% |
| 1 year | 1.15% | 1.45% |
💡 Choosing a suitable placement
- For deposits below S$20,000: e-banking is the available promotional route, with a minimum placement of S$500.
- For deposits of S$20,000 and above: e-banking offers a higher rate than the counter channel for every listed tenor.
- For the highest published rate: the 6-month e-banking option at S$20,000 and above pays 1.50% p.a.
- For more flexibility: shorter tenors can return cash sooner, although the available rate may be lower.
- For planned expenses: align the maturity date with upcoming bills, school fees, travel, investments or other cash needs before locking funds away.
At the headline 1.50% p.a., a S$20,000 placement held for six months would earn approximately S$150 in simple interest. The final amount may differ due to the bank’s day-count method, rounding and placement dates.
📝 Maturity and withdrawal reminders
- Default maturity treatment: unless different maturity instructions are provided, the principal and interest will be renewed for the same tenor at ICBC’s prevailing fixed deposit board rate.
- Partial withdrawals are not allowed: the full placement should remain intact until maturity for the promotional interest rate to apply, so keep emergency cash available elsewhere.
- Premature withdrawal: the promotional rate will not apply and interest will be paid at the prevailing current account rate. ICBC’s promotion page says there is no penalty, while the promotion terms reserve discretion to impose a premature-withdrawal fee. Confirm the latest treatment before proceeding.
- Non-business-day maturity: a maturity date falling on a Saturday, Sunday or Singapore public holiday will be carried forward to the next business day.
- Offer combinations: this promotion cannot be combined with other ICBC offers, bundles or promotions unless otherwise stated.
- Rates and terms can change: ICBC may revise, suspend or withdraw promotional rates and terms without prior notice.
- Deposit laddering: splitting funds across several tenors, such as three and six months, may help balance liquidity and returns 📈.
For a broader comparison, browse this guide to Singapore’s fixed deposit rates. Official information is available from the ICBC Singapore latest fixed deposit promotion page, the ICBC Singapore branch contact page, and the Fixed Deposit Promotion Terms and Conditions (PDF).
With the strongest return concentrated in the 6-month e-banking tier, comparing the deposit amount, access needs and maturity date can help identify the most practical option. Always retain enough liquid savings for emergencies before committing funds 🔐.
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