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Deposits have a much lower risk as compared to other volatile products. They offer a better peace of mind and a higher level of assurance that your money will always be there

Note: Terms & conditions apply for the following promotions. Be sure to read in detail before going in for it.

In a heavily summarised definition:

• Fixed / Time deposits require you to place funds (usually fresh funds) in a account for a specified amount of time
• Incremental balance promotions require you to increase your average balance of your account from a defined period with fresh funds.
• Fresh funds refer to funds transferred from accounts outside the bank. Over-the-counter or machine cash deposits are usually fine too but do take note banks may charge for large cash deposits

New promotions are added to the bottom of the list

1. Singapore Savings Bonds – Government Security; High p.a.; Min $500; Requires free CDP account; No penalty for early withdrawal; Interest payments every 6 months after issuance
2. CIMB: Earn up to 0.3% with FastSaver
3. CIMB: Earn up to 0.4% with StarSaver
4. Maybank: Earn up to 1.0% p.a. with their latest time deposit rates from 2 October 2020 **BEST for funds up to $1m**
5. HSBC offers 1.10% p.a. for 24-mth Singapore Dollar Time Deposits (as of 2 Oct 2020) **BEST for funds up to $49,999**
6. UOB: Earn up to 0.50% p.a. with the latest SGD fixed deposit offers till 27 Feb
7. Singapore Savings Bond (SSB): Earn up to 0.97% p.a. in the latest bond – Apply by 23 Feb **BEST for lowest risk deposit up to $200,000**

Last updated 7 Feb 2021. Click these links for latest Fixed Deposit or Time Deposit Promo

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