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OCBC Bank Singapore has increased its Singapore Dollar (SGD) Time Deposit promotional interest rates once again, with the highest standard Personal Banking rate now reaching 1.85% p.a. for a 12-month online placement.
This offers another opportunity to secure a fixed interest rate on qualifying savings. 🏦
A minimum of S$20,000 in qualifying fresh funds per placement is required. Existing OCBC deposit balances, CPF funds and SRS funds do not qualify. For digital placements through Internet Banking or the OCBC app, an OCBC Time Deposit Account is needed. New OCBC customers applying digitally must first open an OCBC current or savings account, while account opening at a branch is another option.
As at 21 October 2026, OCBC’s highest promotional rate has climbed from 1.65% p.a. to 1.85% p.a. compared with the previous rates on 1 October 2026. The increase is particularly noticeable for the 12-month tenor, which has gained 0.20 percentage point through both placement channels.
OCBC Singapore fixed deposit promotional rates 💰
The latest SGD Time Deposit promotional rates are available for placements through OCBC branches and digital banking channels. The following table also compares the latest figures against the earlier 1 October rates.
| Tenure | Placement channel | Current rate (p.a.) | 1 Oct rate (p.a.) | Change |
|---|---|---|---|---|
| 6 months | Branch | 1.50% | 1.45% | +0.05 percentage point 💹 |
| 12 months | Branch | 1.80% | 1.60% | +0.20 percentage point 💹 |
| 6 months | Online | 1.55% | 1.50% | +0.05 percentage point 💹 |
| 12 months | Online | 1.85% | 1.65% | +0.20 percentage point 💹 |
Minimum promotional placement: S$20,000 in qualifying fresh funds for every option listed above. Branch placements are available at any OCBC branch, while online placements are supported through OCBC Internet Banking or the OCBC app.
Online placements therefore offer an additional 0.05 percentage point over the corresponding branch rate for either tenor. While the difference is relatively small, choosing the digital channel can help maximise the available promotional return without extending the deposit period.
Looking further back, OCBC’s highest tracked standard Personal Banking SGD promotional rate has risen from 1.15% p.a. in March 2026 to 1.85% p.a. now, an increase of 0.70 percentage point. The latest 0.20-point increase for the 12-month tenor follows an even larger 0.25-point rise between September and 1 October 2026.
Fresh-funds requirement and maximum placement amounts 📌
The S$20,000 promotional minimum must consist of qualifying fresh funds. OCBC specifically excludes funds transferred from existing OCBC Bank deposit accounts, as well as funds provided through OCBC cheques, cashiers’ orders or demand drafts.
The OCBC app requires a savings or current account as the funding source, but selecting that account does not automatically make an existing OCBC balance eligible for promotional rates. Funds must still meet OCBC’s fresh-funds definition, so confirm the treatment of incoming funds before making a placement.
How does OCBC compare with other fixed deposits?
OCBC’s higher rates are worth considering, although other banks currently offer stronger returns for comparable tenors. For example, Bank of China Singapore’s promotion from 19 October 2026 offers 1.95% p.a. for six months and 2.05% p.a. for 12 months with a minimum S$20,000 placement through BOC Mobile Banking. These exceed OCBC’s corresponding online rates by 0.40 and 0.20 percentage point respectively. BOC requires a savings or current account and mobile banking access, while promotional conditions differ between banks. The official BOC promotional rate schedule provides further details.
Overall, OCBC’s latest SGD Time Deposit promotion provides improved returns compared with its earlier October offering. The 12-month online option at 1.85% p.a. offers the highest standard Personal Banking rate within OCBC’s current promotional table, while the six-month alternatives provide an earlier maturity date. Before placing funds, consider the available rates elsewhere, confirm the fresh-funds requirement and select a tenor that suits upcoming cash needs. 💰
Official details and further reading: Check the official OCBC Time Deposit page for prevailing rates and account requirements, and review the OCBC SGD Time Deposit promotional terms (PDF).
For a broader overview of available options, refer to the Singapore fixed deposit and savings rates comparison guide.
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