Best Fixed Deposit Rates Singapore (Jul 2026): UOB, OCBC, DBS, Maybank & More
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Looking for a place to park your cash without taking on too much risk?
A fixed deposit account can be useful if you already know that you will not need the money for a set period. You place a lump sum with a bank or finance company, choose a tenure, and receive a fixed interest rate.
TL;DR: Best Fixed Deposit Rates Singapore (Jul 2026)
Jump To:
- What is a Fixed Deposit Account?
- Bank of China Fixed Deposit Rates
- CIMB Fixed Deposit Rates
- Citi Fixed Deposit Rates
- DBS/POSB Fixed Deposit Rates
- Hong Leong Fixed Deposit Rates
- HSBC Fixed Deposit Rates
- ICBC Fixed Deposit Rates
- Maybank Fixed Deposit Rates
- OCBC Fixed Deposit Rates
- RHB Fixed Deposit Rates
- SIF Fixed Deposit Rates
- Standard Chartered Fixed Deposit Rates
- UOB Fixed Deposit Rates
Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their due diligence and consider their financial goals before investing in any investment product. Information is accurate as of Jul 2026.
What is a Fixed Deposit Account?
A fixed deposit account lets you deposit a lump sum with a bank or finance company for a fixed period.
This period can range from a few weeks to several years, depending on the provider. In return, the bank pays you interest based on the agreed rate and tenure.
The main trade-off is liquidity. Your money is locked in until maturity. You can usually withdraw early, but you may receive less interest, no interest, or face an administrative charge depending on the bank’s terms.
Advantages of Fixed Deposit
Fixed deposits are popular among some Singaporeans due to a few reasons:
- Virtually risk-free: Up to $100,000 of the amount is insured by Singapore Deposit Insurance Corporation (SDIC)
- Guaranteed returns: By locking up an amount of money, it helps a particular group of people save better
- Tax-free interest: The interest you earn from your fixed deposit sum is exempted from tax in Singapore
- High liquidity: Despite what many seem to think, you may withdraw your money from fixed deposits at any time but incur early withdrawal fees.
Disadvantages of Fixed Deposit
For the additional interest rate, parking your money into a fixed deposit has its cons, too:
- Less flexibility: You’ll give up the liquidity of your savings for a fixed amount of time to get the interest
- Early withdrawal fees: Withdrawing your money before the deposit reaches its maturity date will mean receiving less interest
- Minimum deposit amount required: Fixed deposit usually requires a minimum of between $1,000 and $5,000.
How Does Fixed Deposit Work in Singapore?
If you are wondering “how does fixed deposit work in Singapore”, the idea is quite simple.
You choose:
- How much you want to place
- How long you want to lock in the money
- Which bank or finance company you want to place it with
- Whether you are using board rates or promotional rates
Once the fixed deposit is placed, your money earns interest at the agreed rate until maturity. At the end of the tenure, you usually receive your principal plus interest.
For example, if you place S$20,000 into a 12-month fixed deposit at 1.00% p.a., you would earn about S$200 in interest before considering any specific bank terms, rounding, or early withdrawal rules.
How Do Fixed Deposit Rates Compare to Other Investment Options?
Fixed Deposit vs. Singapore Savings Bonds (SSB)
Singapore Savings Bonds, or SSBs, are backed by the Singapore Government and offer interest that steps up over time. They also provide flexibility because you can redeem them before maturity, subject to the SSB redemption process.
Fixed deposits are different. They are offered by banks or finance companies, and the interest rate is fixed for the tenure you choose. They may be simpler if you want to lock in a known rate for a specific period.
Fixed Deposit vs. Saving Accounts
Savings accounts give you more flexibility because you can withdraw your funds anytime.
However, higher savings account interest rates often require you to fulfil conditions such as salary crediting, card spend, bill payments, insurance, or investments.
Fixed deposits are more straightforward. You place a lump sum, lock it in, and receive a known interest rate.
Fixed Deposit vs. Treasury Bills (T-Bills)
Treasury Bills, or T-bills, are short-term Singapore Government Securities issued through auctions. Their final yield is determined at auction, so you will not know the exact yield before applying.
Fixed deposits are easier to understand if you prefer certainty upfront. You know the interest rate before placing the deposit.
Fixed Deposit vs. Foreign Currency Fixed Deposit
Foreign currency fixed deposits may offer different interest rates, but they come with foreign exchange risk.
This means that even if you earn interest, you may still lose money in Singapore dollar terms if the foreign currency weakens against the Singapore dollar.
Fixed Deposit vs. Guaranteed Cash Management Portfolios
Guaranteed cash management portfolios, such as Syfe Cash+ Guaranteed and StashAway Simple Guaranteed, are investment products that invest your funds in fixed deposits at partner banks.
When you invest in them, you will be locking up your cash for a fixed period and enjoying a guaranteed fixed rate of return.
But wait, how is this different from directly investing in a fixed deposit? Here’s a table to explain the key differences:
| Feature | "Guaranteed" Cash Management Portfolio | Fixed Deposits |
|---|---|---|
| Product Type | Investment / cash management product | Bank or finance company deposit |
| SDIC protection | Usually not individually SDIC-insured | SGD deposits with SDIC Scheme members are insured up to S$100,000 |
| Rate certainty | Depends on product terms | Rate is usually fixed at placement |
| Liquidity | Depends on product | Early withdrawal may reduce or remove interest |
Regardless of your option and how promising a certain investment may sound…
Always, ALWAYS, do your own due diligence when you’re investing.
How to Choose the Right Fixed Deposit?
Before placing a fixed deposit, check these points.
1. Fixed deposit minimum amount
The fixed deposit minimum amount can vary quite a bit between banks and finance companies.
Some providers accept smaller placements, such as S$500 or S$1,000. Others require higher amounts, especially if you are trying to access better rates or promotional offers.
2. Tenure
Pick a tenure that matches when you need the money.
Shorter tenures may be useful if you want flexibility, while longer tenures may work if you are comfortable locking in your cash. Avoid locking away emergency funds for too long.
3. Board rate vs promotional rate
Board rates are generally easier to maintain in evergreen content because they are not tied to short campaign windows.
Promotional rates can be higher, but they may expire quickly or come with conditions such as fresh funds, online placement, or priority banking status.
4. Fresh funds requirement
Some promotions require fresh funds, which usually means money transferred from outside the bank.
If your money is already sitting in the same bank, it may not qualify.
5. Early withdrawal terms
Read the early withdrawal terms before placing your deposit.
Some banks pay little or no interest if you withdraw early. Others may impose administrative fees or calculate interest differently.
6. Deposit insurance
Singapore Dollar deposits with SDIC Scheme members are insured up to S$100,000 per depositor per Scheme member.
Read more:
- When Should You Choose Fixed Deposits over Singapore Savings Bonds (SSB)?
- Investment Products Backed By The Singapore Government: SSB vs SGS Bond vs Treasury Bills
What are The Best Fixed Deposit Rates Offered in Singapore?
With that in mind, here are the best fixed deposit rates in Singapore.
Bank of China Fixed Deposit Rate (Jul 2026)
Bank of China’s board rates vary by amount.
For SGD time deposits below S$500,000, the highest board rate listed is 0.95% p.a. for 18, 24, or 36 months. For S$500,000 and above, the highest board rate is 1.00% p.a. for 18, 24, or 36 months.
BOC states that the minimum initial deposit is S$5,000 over the counter, or S$500 through online or mobile banking.
| Tenure | Below S$500,000 | S$500,000 and above |
|---|---|---|
| 1 month | 0.5% | 0.55% |
| 3 months | 0.65% | 0.70% |
| 6 months | 0.75% | 0.80% |
| 9 months | 0.85% | 0.90% |
| 12 months | 0.90% | 0.95% |
| 18 months | 0.95% | 1.00% |
| 24 months | 0.95% | 1.00% |
| 36 months | 0.95% | 1.00% |
Bank of China Fixed Deposit Terms & Conditions:
- The rates are indicative and applicable to personal customers only
- Rates used at the point of transaction may differ.
CIMB Fixed Deposit Rates (Jul 2026)
CIMB’s SGD fixed deposit board rates are lower than its promotional rates.
For board rates, CIMB lists 0.30% p.a. for S$1,000 to S$99,999, and 0.35% p.a. for S$100,000 and above, for most tenures from 3 to 24 months.
| Tenure | S$1,000–S$99,999 | S$100,000 and above |
|---|---|---|
| 1 month | 0.20% | 0.20% |
| 2 months | 0.25% | 0.30% |
| 3 months | 0.30% | 0.35% |
| 6 months | 0.30% | 0.35% |
| 9 months | 0.30% | 0.35% |
| 12 months | 0.30% | 0.35% |
| 18 months | 0.30% | 0.35% |
| 24 months | 0.30% | 0.35% |
CIMB Fixed Deposit Terms & Conditions
Citi Fixed Deposit Rates (Jul 2026)
Citi’s board rates are different from its wealth-tier or new-to-bank promotional rates.
For Citi SGD time deposits, the board rate is 0.60% p.a. for 1, 2, 3, and 6 months, and 0.70% p.a. for 12 months. This applies across the published placement bands from S$10,000 to S$3 million.
| Tenure | Citi board rates |
|---|---|
| 1 to 2 weeks | 0.20% |
| 1 to 6 months | 0.60% |
| 12 months | 0.70% |
| 24 to 36 months | 0.10% |
Citi Fixed Deposit Terms & Conditions
- Citi states that early termination may result in no interest being paid, and an administrative fee may be imposed.
DBS/POSB Fixed Deposit Rates (Jul 2026)
Next up, we have Singapore’s biggest bank.
DBS/POSB’s board rates are higher for smaller placements between S$1,000 and S$19,999.
For new placements, DBS/POSB currently lists rates of up to 1.00% p.a. for S$1,000 to S$19,999, for tenures from 8 to 12 months. For S$20,000 and above, the rate is 0.05% p.a. across 1 to 12 months.
| Tenure | Interest Rate (% p.a.) $1,000 - $19,999 | Interest Rate (% p.a.) $20,000 and above |
|---|---|---|
| 1 month | 0.05% | 0.05% |
| 3 months | 0.15% | 0.05% |
| 6 months | 0.80% | 0.05% |
| 7 months | 0.95% | 0.05% |
| 8 to 12 months | 1.00% | 0.05% |
DBS/POSB states that new placements are accepted for tenures of up to 12 months only. Longer tenures are for rollovers only.
DBS Fixed Deposit Terms & Conditions
- Interest rates are indicative. Rates apply to individual accounts only
- Rates quoted are in % p.a. and are subject to change without prior notice
Hong Leong Fixed Deposit Rates (Jul 2026)
Hong Leong Finance lists board rates and special rates on its fixed deposit page.
For deposits up to S$50,000, the highest board rate shown is 0.30% p.a. for 15 to 36 months.
For deposits above S$50,000, HLF lists special rates of up to 0.40% p.a. for 15 to 36 months.
| Deposit Amount (SGD) | Board rate, up to S$50,000 | Special rate, above S$50,000 |
|---|---|---|
| 3 to 5 months | 0.10% | 0.10% |
| 6 to 8 months | 0.15% | 0.20% |
| 9 to 11 months | 0.20% | 0.30% |
| 15 to 36 months | 0.30% | 0.40% |
Hong Leong Fixed Deposit Terms & Conditions
- HLF states that the minimum deposit is S$500 for tenures from 3 to 36 months, and S$10,000 for 1- and 2-month tenures.
HSBC Fixed Deposit Rates (Jul 2026)
For SGD time deposits of S$5,000 and above, HSBC’s board rate is up to 0.15% p.a. for 12 months.
| Tenure | HSBC board rate |
|---|---|
| 1 to 3 months | 0.05% |
| 6 months | 0.10% |
| 12 months | 0.15% |
HSBC Fixed Deposit Terms & Conditions
- Rates are subject to change without notice
- The Premier-exclusive rates set out in the table above shall apply only to account(s) which are subject to the terms and conditions governing the use of the HSBC Premier Account Package.
ICBC Fixed Deposit Rates (Jul 2026)
ICBC’s SGD fixed deposit board rates go up to 1.20% p.a. for a 6-month placement.
The minimum deposit is S$500. ICBC also states that for premature withdrawal, there is no penalty, but interest is paid at the prevailing current account rate instead of the fixed deposit rate.
| Tenure | ICBC board rate |
|---|---|
| 1 month | 0.95% |
| 3 months | 1.15% |
| 6 months | 1.20% |
| 9 months | 0.90% |
| 12 months | 0.90% |
ICBC Fixed Deposit Terms & Conditions
- No penalty for pre-matured withdrawal of a fixed deposit, you will get paid based on the prevailing current account interest rate
- ‘Fresh Funds” refers to funds that do not originate from any existing accounts you have with us. For example, any transfer of funds between ICBC account(s) would not be considered fresh funds.
Maybank Fixed Deposit Rates (Jul 2026)
Maybank publishes both Singapore Dollar Time Deposit rates and iSAVvy Time Deposit rates.
For savers comparing the fixed deposit interest rate Singapore banks are offering on board rates, Maybank iSAVvy Time Deposit is one of the higher options in this list for S$20,000 and above.
| Tenure | iSAVvy Time Deposit rate for S$20,000 and above |
|---|---|
| 1 to 2 months | 0.15% |
| 3 months | 0.25% |
| 6 to 12 months | 1.20 % |
| 18 months | 0.45% |
| 24 months | 0.55% |
Maybank’s standard Singapore Dollar Time Deposit board rates are generally lower for the same 6-, 9-, and 12-month tenures, except for longer tenures listed on the rate page.
Maybank also notes that new 36-month SGD Time Deposit placements are not accepted, with 36-month placement available only for auto-rollover.
Maybank Fixed Deposit Terms & Conditions
- Minimum age 16 years old
- Promotion is valid until further notice, and rates are subject to change without prior notice.
OCBC Fixed Deposit Rates (Jul 2026)
OCBC’s board rates depend heavily on deposit amount.
For S$5,000 to S$20,000, OCBC lists board rates of up to 1.05% p.a. for 18 or 20 months. For amounts above S$20,000, the board rates for new placements are much lower, topping out at 0.20% p.a. for several longer tenures.
| Tenure | S$5,000 - $20,000 | Above S$20,000 |
|---|---|---|
| 3-5 months | 0.10% | 0.05% |
| 6-8 months | 0.20% | 0.10% |
| 9 months | 0.30% | 0.10% |
| 10-11 months | 0.40% | 0.10% |
| 12 months | 0.50% | 0.10% |
| 15-16 months | 0.80% | 0.20% |
| 18-20 months | 1.05% | 0.20% |
OCBC states that new placements for 24 months and longer are not available; those rates apply only to renewals.
Promotion Terms & Conditions
- OCBC states that new placements for 24 months and longer are not available; those rates apply only to renewals.
RHB Fixed Deposit Rates (Jul 2026)
RHB’s board rates are tiered by deposit amount.
For S$20,000 to below S$200,000, the highest board rate shown is 0.40% p.a.. For S$200,000 and above, the highest board rate shown is 0.65% p.a. for 24 and 36 months.
| Tenure | S$20,000–below S$200,000 | S$200,000 and above |
|---|---|---|
| 3 months | 0.30% | 0.30% |
| 6 months | 0.375% | 0.40% |
| 9 months | 0.375% | 0.40% |
| 12 months | 0.40 % | 0.55% |
| 18 months | 0.40% | 0.60% |
| 24 months | 0.40% | 0.65% |
| 36 months | 0.40% | 0.65% |
Promotional rates are subject to change without prior notice. Terms and conditions apply. To enjoy the promotional rate, you will need a deposit amount of at least $20,000.
Sing Investments & Finance Fixed Deposit Rates (Jul 2026)
Next up, we have Sing Investments & Finance Limited (SIF): a lender and financier that was incorporated in Singapore on 13 November 1964 and was listed on the Singapore Stock Exchange since July 1983.
FYI: SIF has an Exempt Capital Markets Services Entity that has a license to deal in capital markets products (securities), product financing, and provision of custodial services from the Monetary Authority of Singapore (MAS).
Here are its Fixed Deposit rates:
Tenure S$500–below S$50,000 S$50,000 and above
1 month 0.05% 0.10%
3 months 0.10% 0.15%
6 months 0.15% 0.20%
9 months 0.20% 0.25%
12 months 0.25% 0.30%
*Applicable to personal accounts & fresh funds only. Note that rates are subject to change without prior notice. Terms and conditions apply.
Standard Chartered Fixed Deposit Rates (Jul 2026)
Standard Chartered’s SGD Time Deposit board rates go up to 1.00% p.a. for 15, 18, and 24 months.
| Tenure | Standard Chartered board rate |
|---|---|
| 1 month | 0.05% |
| 3 months | 0.10% |
| 6 months | 0.30% |
| 9 months | 0.55% |
| 12 months | 0.60% |
| 15 months | 1.00% |
| 18 months | 1.00% |
| 24 months | 1.00% |
UOB Fixed Deposit Rates (Jul 2026)
UOB’s board rates go up to 1.00% p.a. for tenures from 11 to 36 months.
For Singapore Dollar fixed deposits, UOB states that the minimum placement is S$5,000 for tenures of 1 month and above, S$250,000 for 7 or 14 days, and S$1,000,000 for tenures below 7 days.
| Tenure | Interest Rate (p.a.) |
|---|---|
| 1 month | 0.05% |
| 3 months | 0.10% |
| 6 months | 0.30% |
| 7 months | 0.50% |
| 8 months | 0.70% |
| 9 months | 0.80% |
| 10 months | 0.90% |
| 11 - 36 months | 1.00% |
UOB also states that for premature SGD fixed deposit withdrawal, there is no withdrawal fee, but you may receive less interest or no interest.
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