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Interest rates are on an uptrend for December 2022
Banks are expected to maintain the high-interest rates as the US is
anticipated to raise interest rates later this month.Currently, some banks are
already offering rates as high as 4.15%
Note that most banks’ rates are for fresh funds only.
|
BANKS |
INTEREST (PA) |
TENURE |
MIN DEPO |
|
|
3.8% 3.9% |
24 mths 12 mths |
$5,000 $50,000 |
|
|
4.15% -Online 4.2% -PB Online
|
18 mths |
$10,000 |
|
|
3.9%-Citigold
|
6 mths |
$50,000 |
|
|
1.7%
|
18 mths |
$1,000 |
|
|
4% 4.1%
|
12 mths |
$100,000 $500,000 |
|
|
3.8% 3.88%
|
11 mths |
$20,000 $1,000,000 |
|
|
3.8%
|
7 mths |
$30,000 |
|
|
3.7% -OTC 3.75%-Online
|
12 mths |
$20,000 $500 |
|
|
3.9% |
15 mths |
$20,000 |
|
|
3.8% 3.9%- Premier Private
|
24 mths 12 mths |
$20,000 $20,000
|
|
|
4.1%
|
24 mths |
$20,000 |
|
|
3.88%
|
24 mths
|
$50,000 |
|
|
3.4 % 3.7% (Priority) |
12 mths |
$25,000 |
|
|
3.55% 3.85% 3.95%
|
6,10,12 mths |
$10,000-$49,999 $50,000-$99,999 >$1,000,000 |
*Click on the individual banks for the latest rates
Rates are as of 28 Nov 2022. Please refer to individual banks for the
latest rates
Bank of China
BOC best rate is 3.7% for online transactions. The good thing about BOC is
that you only need $5000 to enjoy the rates.
CIMB
CIMB allows multiple tenures from 6 months to 18 months. The best rate is 4.15
% for Personal Banking and 4.2% for Preferred Banking. This is the highest as
of Nov 24.
citibank
Citibank only provides exclusive time deposit rates for Citigold and Citigold
Private Clients. The rate is at 3.9% for 6 months.
DBS / POSB
|
| Source: DBS |
Despite being the largest bank in Singapore, it has the lowest FD rates.
Currently, the best rate is only 1.7% for 18 months. They do have online
promotions such as 5month SGD FD at 3.6. However, these rates are not
officially publicised.
HL Bank
HL Bank provides attractive rates. However, the minimum deposit starts from
$100,000. To get the highest tier at 4.1%, you would need to place a minimum
of $500,000
Hong Leong Finance
Hong Leong Finance offers an 11.11 promo rate of 3.8% for 50K-200K and 3.88%
for $200k and above. Rates are for 11 months.
HSBC
HSBC offered periods of 4,7 and 12 months FD rates. The best rates will be for
7 months at 3.8%
ICBC
ICBC offers 3.75% via e-banking for deposits as low as $500. For OTC, the
minimum would be at $20,000 with 3.7% over 1 year.
Maybank
The best interest rates for Maybank would be at 3.9% for 15months. The minimum
placement is $20,000.
OCBC
OCBC offers 3 different interest rates for their different market segment. The
highest will be at 3.9% over 1 year for Premier Private Clients. For all, it
will be 3.8% for 24 months.
RHB
RHB gives 4.1% for 24 months FD. You would need to make the placement
via the RHB mobile SG App. It is currently offering the highest rate for FD.
SINGAPURA FINANCE
|
| Source: Singapura Finance |
Singapura Finance offers 3.88% placement for 24 months. Minimum placement is
for $50,000
Standard Chartered Bank
SCB offers 3.4% for retail and 3.7% for Priority clients for placement online.
The tenure will be for 12 months.
UOB
UOB best rate will be at 3.9 for 12 months if you have 1 million. They also
offer 10 and 12-month FD rates starting from 3.2% and 3.4%, respectively. The
minimum amount starts from $10,000
Disclaimer
The information provided by TWD serves is for educational purposes. It is
not meant to be personalised investment advice. Readers must do their due
diligence and refer to financial advisors for their investment needs. The
information is correct as of 30 Nov 2022
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