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ICBC Singapore adjusts its fixed deposit promotional rates effective 4 Sep 2025
The Industrial and Commercial Bank of China (ICBC) Singapore has made a new revision to its fixed deposit (FD) promotional interest rates. Starting from 4 Sep 2025, the highest rate available will be 1.35% per annum (p.a.). This marks a decrease from the previous cap of 1.6% p.a., which was introduced following the 12 Aug 2025 adjustment.
These revised rates apply exclusively to Fresh Funds. In other words, only deposits that are not transferred internally from existing ICBC Singapore accounts qualify. Internal fund transfers remain excluded from this promotion.
Fixed Deposit Rates Effective 4 Sep 2025
Over-the-Counter (OTC) Promotional Rates
Customers who prefer to open FDs at physical ICBC Singapore branches will enjoy tiered rates depending on deposit size. Deposits of S$200,000 and above receive slightly better returns, while smaller deposits below this threshold still enjoy competitive yields.
The minimum deposit amount over counter is S$20,000
| SGD | Counter Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.15% | 1.25% |
| 3 months | 1.20% | 1.30% |
| 6 months | 1.20% | 1.30% |
| 9 months | 1.10% | 1.20% |
| 1 year | 1.10% | 1.20% |
E-Banking Promotional Rates
Through ICBC’s online banking platform, depositors enjoy enhanced rates, especially for shorter tenors. With a minimum placement amount of only S$500, e-banking FDs are more accessible to smaller investors and encourage digital adoption:
| SGD | E-Banking Promotion Rates | |
|---|---|---|
| Tenor | Below SGD200K (exclusive) | SGD200K (inclusive) & Above |
| 1 month | 1.25% | 1.30% |
| 3 months | 1.30% | 1.35% |
| 6 months | 1.30% | 1.35% |
| 9 months | 1.20% | 1.25% |
| 1 year | 1.20% | 1.25% |
Policy on Early Withdrawals
ICBC Singapore retains a flexible approach to early withdrawals. While depositors who withdraw early will not enjoy the promotional FD rates, their funds will still accrue interest at the prevailing current account rate. This ensures some liquidity and partial returns instead of a total loss of interest.
How to Apply
Interested customers can either apply online conveniently, or visit an ICBC Singapore branch for face-to-face assistance. Those keen on comparing across institutions can view a full listing of Singapore banks’ fixed deposit rates here.
The revised FD promotional rates from ICBC Singapore reflect the current interest rate environment, with returns capped at 1.35% p.a. from 4 Sep 2025. While the adjustment marks a decline from earlier peaks, customers still benefit from competitive digital rates, flexible withdrawal policies, and accessible entry amounts. Savers looking to park fresh funds securely may still find ICBC’s offerings attractive, particularly through the e-banking channel.
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