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State Bank of India (SBI) Singapore is offering a promotional 1.35% p.a. interest rate on a 6-month SGD time deposit
For savers looking at a relatively lower-risk place to park surplus cash for a short period, this promotion offers a fixed return with a defined 6-month commitment. It can be suitable for funds set aside for near-term plans, while keeping exposure to market swings to a minimum.
Promotion highlights 📌
- Promotional rate: 1.35% p.a.
- Tenor: 6 months ⏳
- Currency: SGD 🇸🇬
- Eligibility: Fresh placements and renewals ✅
- Minimum placement: SGD 50,000
Key details at a glance 📊
| Currency | Tenor | Promotional interest rate (p.a.) | Minimum deposit |
|---|---|---|---|
| SGD | 6-month | 1.35% | SGD 50,000 |
The offer applies to both new placements and renewals of maturing deposits, making it relevant for existing customers as well as those placing fresh funds. As placement acceptance remains subject to the bank’s checks and documentation requirements, final confirmation at branch level is still important 🧾.
How placement works 📝
This promotion is available via in-branch placement. Those interested can visit a branch through the SBI Singapore branch locator and request the promotional 6-month SGD time deposit 🏦.
Relationship Managers are available to assist with placements, renewals and submission of the required forms 🤝.
Branch locations for walk-in placement 📍
- Cecil Street: 139 Cecil Street #01-01, YSY Building
- Ang Mo Kio: Block 710A Ang Mo Kio Avenue 8 #01-2633
- Jurong East: Block 130 Jurong Gateway Road #01-233
- Little India: Block 677 Rangoon Road #01-02
- Marine Parade: Block 83 Marine Parade Central #01-564
ℹ Verdun Road branch has been merged into the Little India branch.
Useful preparation checklist ✅
- Bring the necessary identification documents
- Ensure funds are cleared and ready for placement 💳
- For renewals, keep the existing time deposit details available 🔄
- Check account ownership details if placing under an individual or joint account
Important terms to note ⚠️
- Effective date: Promotional rate is effective from 18 Mar 2026 and is available for a limited period only 🗓️
- Minimum placement basis: The minimum deposit applies per individual or per joint account
- Maximum amount: Multiple deposits are allowed, provided the total maximum amount per individual is less than SGD 1,000,000
- Start date of deposit: The term deposit begins when cleared funds are received, and when duly completed account-opening forms are received and accepted by the bank 🧾
- Auto-renewal: Unless written instructions are given at least three working days before maturity, the deposit will renew automatically for the same period at the prevailing board rate at the time of renewal 🔄
- Premature withdrawal: The promotional rate will not apply. For SGD placements, the board rate at the time of placement is applied for completed quarters only ⚠️
- Changes to promotion: SBI may discontinue, vary or revise the promotion and its rates without prior notice 📣
Deposit insurance reminder 🛡️
Singapore-dollar deposits of non-bank depositors are insured by SDIC up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits and certain investment products are not insured.
For full promotional details and the latest terms, refer to the official SBI Singapore promotions page 📄. For broader comparisons across local deposit products, see this fixed deposit comparison guide 🔍.
Overall, this SBI Singapore 6-month time deposit promotion offers a straightforward fixed-rate option for SGD funds, especially for those seeking a short parking horizon with predictable returns and branch-based assistance 😊.
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