Singapore FD rates in September 2023 remain flat.
The best rate for the moment will be from Bank of China, HL Bank and
HSBC at 3.5%. The lowest is UOB and OCBC at 2.7%.
These are the best interest rates for fixed deposits for banks in Singapore
for September 2023.
|
BANKS |
INTEREST (PA) |
TENURE |
MIN DEPO |
|
3.5% (Online) |
3 mths |
$5,000 |
|
|
|
3.2% (Online) |
9 mths |
$10,000 |
|
|
3.2% (Citigold) |
3 mths |
$250,000 |
|
|
3.2%
|
12 mths |
$1,000 |
|
|
3.5% |
3 mths |
$100,000 |
|
|
3.1% |
8 mths |
>$50,000 |
|
|
3.5%
|
3 mths |
$30,000 |
|
|
3.3% |
3 mths |
$500 |
|
|
3% |
12 mths |
$20,000 |
|
|
2.7% |
6 mths |
$20,000 |
|
|
3.45%
|
6 mths |
$20,000 |
|
|
NA |
NA
|
NA |
|
|
3.4 % (Priority) |
12 mths |
$25,000 |
|
|
2.7% |
6,10 mths |
$10,000 |
*Click on the individual banks for the latest rates
Rates are as of 30th Apr 2023. Please refer to respective banks for the
latest rates
Bank of China
The best rate for BOC is 3.5% for 3 months.
CIMB
CIMB used to have one of the highest FD rates in town. Now it has one of the
lowest at 3.4% for 9 months.
Citibank
Citibank FD raes have fallen to 3.2% for 3 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 has reduced the FD rates to 3.5% for 3 and 6 months. Minimum
placement is at SGD 100,000
Hong Leong Finance
Hong Leong Finance has a slight increase; it now offers the highest rate
at 3.1% for $50K for 8 months.
HSBC
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HSBC offered periods of 3 and 12 months FD rates. The best rates will be
for 3 months at 3.5% for new customers. The minimum amount for this promo
rate is $30,000.
ICBC
ICBC offers 3.3% for 3 months via e-banking for deposits as low as $500.
For OTC, the minimum would be at $20,000 with 3.25% for 3 months.
Maybank
The best interest rate for Maybank is 3% for 12 months. The minimum
placement is $20,000.
OCBC
OCBC FD has only 1 tenure on promo. The rate is 2.7% for 6 months via
Internet Banking.
RHB
RHB’s best rate is at 3.45% for 6 months for Premier Banking online for 6
months.
Standard Chartered Bank
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SCB offers 6 6-month FD rate of 3.4% for Priority Private Banking rate.
The minimum amount is $25,000
UOB
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The promo rate for UOB FD is at 2.7% for a 6 or 10-month tenure for
$10,000. It is now one of the lowest in town.
Disclaimer
The information provided by TWD is for information 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 1st September 2023. Do refer to the
individual banks for the latest updates.
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