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Looking for a fixed SGD return without market-linked investment exposure?
SBI Singapore’s refreshed SGD Time Deposit promotion offers returns of up to 1.75% p.a., with a minimum placement of SGD 50,000 🔒
Latest SBI Singapore SGD time deposit rates 📊
| Currency | Tenor | Current Promotional Rate (p.a.) | Previous 2 Jun Rate (p.a.) | Change | Minimum Deposit |
|---|---|---|---|---|---|
| SGD | 6-month | 1.70% | 1.50% | +0.20 percentage point 💹 | SGD 50,000 |
| SGD | 12-month | 1.75% | 1.40% | +0.35 percentage point 💹 | SGD 50,000 |
Rates are quoted on a per-annum basis. A simple straight-line illustration on the minimum placement works out to about S$425 for SGD 50,000 at 1.70% p.a. over six months and about S$875 for SGD 50,000 at 1.75% p.a. over 12 months. Actual interest credited will depend on the placement amount, tenor, value date, maturity date and SBI Singapore’s applicable calculation method.
Compared with the earlier 2 Jun 2026 promotion, the headline rate has risen from 1.50% p.a. to 1.75% p.a.. The latest structure also lifts both listed tenors, giving a stronger rate for either a six-month or 12-month placement 📈
Who can place the promotional deposit? 🧾
The promotion applies to fresh and renewal funds for a limited period, with the minimum deposit applying per individual or joint account. SBI’s current promotional terms do not separately define every customer category or explain what counts as “fresh” funds.
Multiple promotional deposits may be placed, provided the total amount per individual remains below SGD 1,000,000.
SBI’s general Term Deposit Account page says individuals aged 21 and above may open a term deposit, while Singaporean or Permanent Resident customers aged 12 to below 21 may open and operate one independently. New customers should confirm the promotional rate and account-opening requirements with a Relationship Manager before placing funds, particularly where funds are already held in an SBI Singapore account.
How to place the deposit 📝
Walk in to any SBI Singapore branch and speak with a Relationship Manager for a new placement or renewal. Check the SBI Singapore branch locator before travelling to confirm the most convenient location and current branch details 📍
SBI Singapore branch locations 🏦
- 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
Before heading to a branch ✅
- Singaporeans / Permanent Residents: bring the original NRIC for face-to-face verification and a photocopy of both sides with the latest address.
- Non-Singaporeans: bring the original passport, Employment Pass / Work Permit / Dependant Pass and proof of address if the pass does not show the current address.
- Ensure the placement funds are cleared; the promotional rate starts only after cleared funds and the required completed forms are received and accepted by SBI Singapore.
- If automatic renewal at the prevailing board rate is not wanted, submit different instructions in writing at least three working days before maturity.
Unless different instructions are submitted in writing at least three working days before maturity, the deposit will automatically roll over for the same period at SBI’s prevailing term deposit board rate. That can be materially lower than the promotional rate: SBI’s current SGD term deposit board-rate page lists 0.80% p.a. for six months and 0.70% p.a. for 12 months for deposits from SGD 5,000 to below SGD 1 million. These board rates are indicative and may change before maturity. The promotional term deposit also cannot be combined with another bank offer or promotion.
Overall, the 12-month tenor currently carries the highest listed promotional rate at 1.75% p.a., while the six-month option offers 1.70% p.a. for a shorter commitment. Compare the placement period against expected cash needs before locking in funds.
For current promotion details and terms, visit the official SBI Singapore SGD promotions page 📄. For a broader market check, the Singapore fixed deposit comparison guide can help compare other deposit options 🔍
Promotional rates and availability may change without prior notice
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