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From 18 Dec 2025, ICBC Singapore has refreshed its Singapore dollar fixed deposit (FD) promotional rates for Fresh Funds placements. 🎉
Industrial and Commercial Bank of China (ICBC) Singapore has updated its fixed deposit promotional rates for SGD placements with effect from 18 Dec 2025. Under this refresh, the highest promotional rate is 1.4% per annum (p.a.), available on selected tenors and deposit tiers (see tables below). Compared with the 1 Dec 2025 revision, this update reflects a decrease of up to 0.25% for selected 3-month and 6-month e-banking tenors while the top rate of 1.4% is offered for the 3-mth e-banking above 200K tenor.
Key things to note (before placing any FD):
- Fresh Funds only: These rates are strictly for new monies brought into ICBC Singapore. Transfers within ICBC accounts and FD rollovers typically do not qualify.
- Two channels, two entry points: Over-the-counter (OTC) placements start from S$20,000 per tenor, while e-banking placements start from just S$500 per placement.
- Tiered rates: Deposits of SGD200K (inclusive) & Above generally enjoy higher promotional rates than amounts below SGD200K (exclusive).
Fixed Deposit Promotional Rates from 18 Dec 2025
At a glance: The headline 1.40% p.a. applies to 3-month SGD placements via e-banking for SGD200K (inclusive) & Above. Other tenors/tiers are lower (see tables).
🏦 Over-the-Counter (OTC) rates
For customers who prefer face-to-face service at an ICBC Singapore branch, the OTC promotional rates are tiered by deposit amount. The minimum placement for OTC SGD fixed deposits under this campaign is S$20,000 per tenor. Larger placements (at least SGD200K) receive a higher rate across the listed tenors.
| SGD | Counter Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.05% | 1.15% |
| 3 months | 1.10% | 1.20% |
| 6 months | 1.05% | 1.15% |
| 9 months | 1.00% | 1.10% |
| 1 year | 1.00% | 1.10% |
Who this may suit: Savers placing larger sums who want branch support (for example, account servicing or document verification) may find the OTC route more comfortable. The SGD200K (inclusive) & above tier provides a clear uplift versus the below SGD200K (exclusive) tier.
💻 E-banking rates
For customers who prioritise convenience, ICBC Singapore’s e-banking platform offers promotional rates with a much lower starting amount of S$500 per placement. This can be useful for savers who want to ladder deposits across different tenors, or simply start small while still enjoying promotional returns.
| SGD | E-Banking Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.15% | 1.20% |
| 3 months | 1.20% | 1.40% |
| 6 months | 1.15% | 1.20% |
| 9 months | 1.10% | 1.15% |
| 1 year | 1.10% | 1.15% |
Good to know: There is no penalty fee for premature withdrawals. However, if a fixed deposit is withdrawn before maturity, interest will be paid at the prevailing current account rate instead of the promotional FD rate. In practice, this means savers keep the flexibility to access funds if needed, but should be prepared for a much lower interest payout if they break the FD early.
Tips for savers: how to make the promo work harder
- Pick the channel that matches your habits: If comfortable with online banking, e-banking’s lower entry amount can make it easier to spread placements across tenors.
- Consider deposit sizing: Those aiming for the better “SGD200K (inclusive) & Above” tier may want to consolidate funds (while staying within their personal liquidity comfort zone).
- Match tenor to cashflow: Shorter tenors may suit savers who want flexibility, while longer tenors provide rate certainty for a longer period.
- Set a maturity reminder: A simple calendar alert helps avoid missing maturity dates or rolling decisions.
- Keep liquidity for emergencies: Because early withdrawal earns current account rates, it’s usually wiser to keep a separate cash buffer outside the FD.
How to apply
Eligible customers can apply online via ICBC Singapore’s e-banking platform. New and existing customers may follow the on-screen instructions to place an e-banking FD once the account is ready and Fresh Funds have been credited.
For customers who prefer in-person assistance, they can visit an ICBC Singapore branch to place an OTC fixed deposit. It is recommended to bring valid identification (such as NRIC or passport) and any documents required for account opening or verification.
For comparing options across banks, browse this curated overview of Singapore’s fixed deposit rates.
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