FD rates are now mostly 3% and below
With FOMC cutting rates last month, most banks’ FD rates continue to drop to
below 3 %.
There are the best interest rates for fixed deposits for banks in Singapore
for October 2024
|
BANKS |
INTEREST (PA) |
TENURE |
MIN DEPO |
|
BANK OF CHINA |
3.% (Online) |
3 mths |
$500 |
|
CIMB |
2.8% (Online) |
3 mths |
$10,000 |
|
CITIBANK |
2.4 % |
3 mths |
$50,000 |
|
DBS/POSB |
3.2%
|
12 mths |
$1,000 |
|
HL BANK |
0.4% |
12 mths |
NA |
|
HONG LEONG FINANCE |
2.75% |
3 mths |
$50,000 |
|
HSBC
|
2.75%
|
3 mths |
$100,000 |
|
ICBC
|
3% |
3 mths |
200K and above |
|
MAYBANK |
2.9% |
6 mths |
$200,000 |
|
OCBC
|
2.6% (online) |
6 mths |
$30,000 |
|
RHB
|
2.8% (Premier Banking)
|
6 mths |
$20,000 |
|
SINGAPURA FINANCE |
NA |
NA
|
NA |
|
SCB
|
2.8% (Priority Private) |
6 mths |
$25,000 |
|
UOB
|
2.6% |
6 mths |
$10,000 |
*Click on the individual banks for the latest rates
Rates are as of 1 Dec 2023. Please refer to respective banks for the latest
rates
Bank of China
The best rate for BOC has dropped to 3% for 3 months via Mobile
Banking.
CIMB
CIMB’s best FD rate has fallen to 2.8% for 3 months.
Citibank
Citibank’s FD rate is down to 2.4% for 3 months.
DBS / POSB
DBS/POSB remains at 3.2% for 1 year. As a result, it is now the bank with
the highest FD rates. Do note the cap of $19,999 to qualify for these
rates.
According to their website, DBS/POSB will accept new placements for tenors
12 months and below.
HL Bank
Based on HL Bank website, only board rates are offered
Hong Leong Finance
Hong Leong Finance highest FD rate is at 2.8% for 6 months.
HSBC
HSBC highest FD rates drops to 2.75% for 3 months for more than
$100,000.
ICBC
ICBC offers 3% for 3 months . The minimum is at 200K and above and
the transaction has to be done via banking.
Maybank
Maybank’s best FD rate drops to 2.9% for 6 months. This is for
online placement with a minimum of $200K
OCBC
OCBC FD rate is at 2.9% for 6 months online
RHB
RHB best rate is for 2.85% for 3 months. The minimum placement is $20K for
Premier Banking.
Standard Chartered Bank
SCB offers a tier rate promotion. The highest is 2.8% for 3 months for
Priority Private.
UOB
UOB FD rates is one of the lowest at 2.6% for 6 months
Disclaimer
The information provided by TWD is for information purposes only and is
not meant to be investment advice. Readers must do their due diligence and
consult financial advisors for their investment needs. The information is
correct as of 31 Oct 2024