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
Newer promotions are added to the bottom of the list
NOTE (MARCH 2020): Due to the COVID-19 situation, many banks are abruptly ending their promotions early and replacing them with lower interest promotions. Please visit the bank’s website to verify the latest rates
- 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
- CIMB StarSaver Account 0.8% p.a. on the entire account balance (min $5,000 balance)
- CIMB FastSaver Account now offers up to 1.80% p.a. on your first $100K deposit! From 15 Sep 2019
- Standard Chartered: Earn up to 1.70% p.a. when you deposit fresh funds into eSaver from 1 Feb – 31 Mar 2020
- HL Bank: Earn up to 1.98% p.a. on your daily iSavings Account balance till 30 April 2020
- Singapore Savings Bond (SSB): Earn up to 1.63% p.a. in the latest bond (Apply by 26 March 2020)
UOB: Earn 1.40% p.a. for 10-mth SGD fixed deposits till 31 Mar
- UOB: Earn up to 1.30% p.a. with latest Fresh Funds deposit promo valid from 6 March – 30 April 2020
CIMB Bank: Earn 1.35% p.a. with the latest SGD fixed deposit promo till 13 March 2020
- Standard Chartered: Earn 1.20% p.a. with 9-mth time deposits till 20 March 2020
OCBC: Earn up to 1.28% p.a. with 12 mths time deposit from 14 March 2020
- Maybank: Enjoy 1.45% p.a. on 12-month SGD Time Deposit from 13 March 2020
- Maybank: Earn up to 1.40% p.a. with the latest SGD Time Deposit promo from 13 March 2020
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