Interest rates are on the rise again.
With FOMC slanted to raise interest rates this month, the FD rates in
Singapore are also rising.
Here are the latest FD rates for September.
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2.5%* Mobile Placement |
18 Months |
$5,000 |
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2.3%* Preferred Bk |
18 Months |
$10,000 |
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2.6%* CitiGold |
24 Months |
$50,000 |
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1.3% |
18 months |
$1,000 |
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2.75% |
12 months |
$50,000 |
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2.45% |
15 months |
$50,000 |
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2.5% |
12 months |
$30,000 |
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2.3% |
12 months |
$500 |
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2.4% |
24 months |
$20,000 |
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2% |
12 months |
$20,000 |
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2.7%* *RHB Premier |
24 months |
$20,000 |
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1.9%* *Priority B |
12 months |
$25,000 |
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2.7% |
15 months |
$20,000 |
(Click on individual banks for details)
Which Bank has the highest Fix Deposit Rates?
HL bank has the highest rates in town at 2.75% over 12 months. Among the local
banks, UOB leads with 2.7% over 15 months ( This is not reflected on their
website, but it is available at the branch). SCB has the lowest FD rates this
time round despite it being higher in Aug. Average rate is at 2.5%
If you are holding on to Fixed Deposits placed within the last 3 months at 2%
or below, it may be worth considering a switch to the banks with 2.7%. This
will be worth it if the banks do not impose a penalty fee for breaking and you
meet the qualifying minimum deposit.
Disclaimer
*Interest rates are correct as of 1 Sept 2022. Banks may change interest
rates, so do check the individual banks for the latest rates
