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Are Singapore FD rates going up for Nov 2023?
Interest rates are slowly trending upward for T Bills. Would this be reflected
for Banks FD?
These are the best interest rates for fixed deposits for banks in Singapore
for November 2023.
|
BANKS |
INTEREST (PA) |
TENURE |
MIN DEPO |
|
3.35% (Online) |
3 mths |
$5,000 |
|
|
|
3.45% (Online) |
6 mths |
$10,000 |
|
|
3.2% (Citigold) |
3 mths |
$250,000 |
|
|
3.2%
|
12 mths |
$1,000 |
|
|
3.6% |
12 mths |
$100,000 |
|
|
3.58% |
8 mths |
>$50,000 |
|
|
3.45%
|
3 mths |
$200,000 |
|
|
3.3% |
3 mths |
$500 |
|
|
2.9% |
12 mths |
$20,000 |
|
|
2.7% |
6 mths |
$20,000 |
|
|
3.68%
|
6 mths |
$20,000 |
|
|
NA |
NA
|
NA |
|
|
3.2 % (Priority) |
12 mths |
$25,000 |
|
|
3.1% |
6,10,12 mths |
$10,000 |
*Click on the individual banks for the latest rates
Rates are as of 1st Sep 2023. Please refer to respective banks for the
latest rates
Bank of China
The best rate for BOC is 3.35% for 3 months. This has to be done via Mobile
Banking.
CIMB
CIMB used to have one of the highest FD rates in town. Now it has one of the
lowest at 3.45% for 6 months.
Citibank
Citibank FD rates 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 increased the FD rates to 3.65% for 12 months. Minimum
placement is at SGD 500,000
Hong Leong Finance
Hong Leong Finance has slightly increased; it now offers the highest rate
at 3.58% for $50K for 3 months.
HSBC
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HSBC offered periods of 3 months FD rates at 3.45% for Premier Banking.
The minimum amount for this promo rate is $200,000.
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 2.9% 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 3.68% for 6 months for Premier Banking online for 6
months.
Standard Chartered Bank
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SCB offers 6-month FD rate of 3.2% for Priority Private Banking rate. The
minimum amount is $25,000
UOB
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The promo rate for UOB FD is at 3.1% for a 6 ,10 or 12 -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 30th Oct. . Do refer to the individual
banks for the latest updates.
Next Update will be on 1st Nov.
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