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Get higher returns on your SGD time deposit
UPDATE: State Bank of India Singapore Offers Time Deposit Rates Of Up to 3.40% p.a. as of 25 June 2024
State Bank of India (SBI) Singapore now offers 6-month Singapore Dollar (SGD) Time Deposits at an attractive 3.35% per annum. This promotional rate is available from 26 April 2024, applicable to both fresh funds and renewals.
The revised rates come as part of SBI Singapore’s latest financial promotion, aimed at providing customers with competitive returns on their investments. Alongside the new 6-month tenor, the bank has also adjusted the 12-month fixed deposit rate from 3.20% to 3.05%.
Customers looking to take advantage of the new rates can do so with a minimum deposit of SGD 50,000. The promotional rates are subject to terms and conditions and are available for a limited time only.
| Currency | Tenor | Promotional Interest Rate* (p.a.) | Minimum Deposit |
|---|---|---|---|
| SGD | 6-month | 3.35% | SGD 50,000 |
| SGD | 12-month | 3.05% | SGD 50,000 |
Application Process
Interested individuals can apply by visiting any SBI branch in Singapore. Relationship Managers will be available to assist with the application process and provide more information on the promotion.
Terms and Conditions
- Applicable for fresh and renewal of funds for a limited period only.
- The minimum deposit amount as indicated above per individual or per joint account in the currency the deposit has been placed.
- Multiple deposits can be placed by the customer as long as the maximum amount per individual is less than $1,000,000 in the currency the deposit has been placed.
- The start date of the Term Deposit will be the date the funds received by SBIS are cleared (“Start Date”). The promotional rates are only applicable from the Start Date where duly completed Account Opening Forms are received and accepted for processing by SBIS.
- Other T&Cs apply
For further details on the promotion and how to apply, click here.
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