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Interest rates are trending lower for April.
Most of the banks are now offering less than 4% interest. These are the best
interest rates for April 2023 in Singapore.
|
BANKS |
INTEREST (PA) |
TENURE |
MIN DEPO |
|
3.8% (Online) |
12 mths |
>$300,000 |
|
|
|
3.6% -Online |
6 mths |
$10,000 |
|
|
3.88%-Citigold |
3 mths |
$250,000 |
|
|
3.2%
|
12 mths |
$1,000 |
|
|
4.1% |
12 mths |
>$500,000 |
|
|
3.8%
|
12 mths |
>$500,000 |
|
|
3.8%
|
3 mths |
$30,000 |
|
|
3.75% – IB |
12 mths |
$500 |
|
|
3.9% |
12 mths |
$20,000 |
|
|
3.5% |
6 mths |
$20,000 |
|
|
3.9%
|
12 mths |
$20,000 |
|
|
NA |
NA
|
NA |
|
|
3.2 % |
12 mths |
$25,000 |
|
|
3.55% |
3,6 mths |
$10,000 |
*Click on the individual banks for the latest rates
Rates are as of Apr 1 2023. Please refer to respective banks for the latest
rates
Bank of China
BOC’s best rate is at 3.8% for 6 months.
CIMB
CIMB used to have one of the highest FD rates in town. Now it has one of the
lowest at 3.6% for 6 months.
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
DBS/POSB best rate is 3.2% for 12 months. The minimum amount is $1000.
According to their website, DBS/POSB will accept new placements for tenors
12 months and below.
HL Bank
HL Bank provides attractive rates. However, the minimum deposit starts
from $100,000. To get the highest tier at 4.1% for 6m and 12 m, you would
need to place a minimum of $500,000
Hong Leong Finance
Hong Leong Finance offers the highest rate at 3.8% for $500K for 12
months.
HSBC
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HSBC offered periods of 3,6, and 12 months FD rates. The best rates will
be for 3 months at 3.8%. The minimum amount for this promo rate is at
$30,000
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 rate for Maybank is 3.9% for 12 months. The minimum
placement is $20,000.
OCBC
OCBC FD has only 1 tenure on promo. The rate is 3.5% for 6 months.
RHB
RHB highest rate has dropped to 3.9% for a 12 or 24-month placement.
SINGAPURA FINANCE
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NA
Standard Chartered Bank
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SCB offers 3 months FD rate at 3.2% for Priority Private Banking rate.
Minimum amount is $25,000
UOB
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The promo rate for FD is now 3.55% for 6 or 10 months tenure for $10,000
and above.
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 March 31 2023. Do refer to the individual
banks for the latest updates.
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