151122 - Fixed Deposit Updated (Nov 2022)

Best Fixed Deposit Rates in Singapore (15 Nov 2022): UOB, OCBC, DBS, Maybank & More

15 Nov 2022

There’re a lot of places to park your money.

And sometimes, you just have a considerable amount of money lying around that you don’t really wanna risk investing.

So what’s the safest option for those with low-risk appetites?

Enter fixed deposits (or time deposits), an extremely low-risk way to grow your money without losing your capital.

It is where you can leave your money, forget about it, and come back later to collect the interest.

Every bank offers different interest rates, which typically vary according to the minimum deposit amount and agreed-upon tenor.

So, which bank offers the best fixed deposit rates in Singapore?

TL;DR: Best Fixed Deposit Rates in Singapore (15 Nov 2022)

Banks	Tenor (Months)	Promotion's Minimum/ Qualifying Amount (SGD)	Promotional Interest Rate (p.a.)	Valid Till
DBS	18 months	$1,000	1.70%	Further notice
Standard Chartered (Online)	12 months	$25,000 (Fresh funds)	3.10% (Promotional Rate) 3.20% (Priority Banking)	30 Nov 2022
Hong Leong Finance	18 months	$20,000	3.18% - 3.30%	Further notice
HSBC	12 months	$30,000 (Fresh funds)	3.20%	30 Nov 2022
Maybank	24 months	SGD Time Deposit: $20,000 and above iSAVvy Time Deposit: $25,000 and above	3.20%	Further notice
ICBC (E-Banking)	12 months	$500	3.25%	Further notice
Bank of China (Mobile Banking)	18 months	$5,000	3.25 - 3.40%	Further notice
RHB (Mobile Banking)	12 months	$20,000	3.40%	Further notice
OCBC	12 months	$20,000 (Fresh funds)	3.40% - 3.90%	Further notice
Citibank SGD Time Deposit Promotion For Citigold Private Clients & Citigold (Online)	12 months	$50,000 - $3,000,000 (Fresh funds)	3.40% - 3.90%	31 Dec 2022
CIMB SGD Exclusive Online Fixed Deposit	18 months	$10,000	Personal Banking: 3.75% Preferred Banking: 3.80%	30 Nov 2022
UOB	12 months	$20,000 (Fresh funds)	3.90%	30 Nov 2022

*Non-promotional board rate. Note that rates are subject to change without prior notice. Information is accurate as of 15 Nov 2022. All figures are in SGD.

Jump to:

What is a fixed deposit account?
BOC Fixed Deposit Rates
CIMB Fixed Deposit Rates
Citibank Fixed Deposit Rates
DBS 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
Standard Chartered Fixed Deposit Rates
UOB Fixed Deposit Rates

A few things to note about Fixed Deposit Rates:

Fixed deposit interest rates listed here are mostly promotional interest rates that change monthly, and some might not even have a specific expiry date
These rates are also often packaged as “welcome offers” for new customers to the bank, although some banks like RHB offer better rates for existing customers who are renewing their fixed deposits
Most of the time, the higher fixed deposit interest rates are only for a bank’s premium customers
Or if you have a considerable amount of money, usually $20,000 and above, to commit
But, some of the promotions require you to deposit fresh funds/new funds which refer to funds that do not originate from any existing accounts you have with the bank.
For example, any transfer of funds between ICBC account(s) would not be considered fresh funds
Higher fixed deposit interest rates are also available for foreign currencies (like USD) – you can consider this alternative if you, for some reason, have vast sums of foreign currency just lying around
But do note that foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

In this article, we listed both promotional and regular non-promotional board rates and compared them to find the best deal for you.

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 own due diligence and consider their financial goals before investing in any investment product. Information is accurate as of 5 Sep 2022.

What Is a Fixed Deposit Account?

Fixed deposits – also known as time deposit accounts – are financial instruments provided by banks that offer a higher interest rate than a regular savings account. The money, however, must stay in the account for a fixed period of time.

Advantages of Fixed Deposit

Fixed deposits are popular among some Singaporeans due to a few reasons:

Investors technically need not do anything except give up their liquidity for the additional interest rate
Virtually risk-free: Up to $75,000 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.

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 amount of anywhere between $1,000 and $5,000.

Why Even Consider Fixed Deposits?

I know what you’re thinking.

You have high-interest savings accounts (e.g., DBS/POSB Multiplier and OCBC 360) that you’re using for salary transactions, and a fixed deposit account with board interest rates of a similar level to a savings account might not make a difference.

But, it could be a good time now to consider this because banks in Singapore have launched a series of fixed deposit promotions due to higher interest rates.

With better interest rates, should we start looking at fixed deposits then?

In general, fixed deposits are:

A low-risk investment
Virtually risk-free and give guaranteed returns
Fuss-free (no need to deposit fresh funds or buy insurance and investment products)
Can be a low-risk component of your investment portfolio
Pay you a fixed rate of interest (it doesn’t change once you’re locked in)
Pay an interest rate higher than a regular savings account (0.05% per annum).

Also… contrary to what many people think.

Fixed deposits are actually liquid.

Once you put your money in, you can withdraw your money anytime.

HOWEVER, there’s a catch.

Fixed deposits require a fixed commitment period, and hence, there may be early withdrawal clauses that require you to pay a certain administrative fee.

You might get paid less interest or lose it altogether if you withdraw your money before maturity.

So, before you decide to squirrel money away in a fixed deposit account, make sure that you can afford to put it aside for the stipulated amount of time and be cautious of the early withdrawal clauses you are signing off on.

Read more:

BOC Fixed Deposit Promotion Rates (Nov 2022)

Tenor	Amount (SGD)	Over the Counter Placement Interest Rates (p.a.)	Via Mobile Banking Placement* Interest Rates (p.a.)	Promotion Validity
1 month	$5,000 and above	2.20%	2.30%	30 Nov 2022
3 months		2.90%	3.00%
6 months		3.00%	3.15%
9 months		3.10%	3.25%
12 months	$5,000 - $50,000	3.25%	3.40%
	$50,000 - $300,000	3.30%	3.45%
	$300,000 and above	3.40%	3.50%
18 months	$5,000 and above	3.30%	3.45%
24 months	$5,000 and above	3.30%	3.45%

*This promotional rate is only applicable to personal banking customers with placement via BOC Mobile Banking.

BOC Fixed Deposit Rates (Nov 2022) [Board Rates]

Deposit Amount (SGD)	Interest Rate (% p.a.)
Tenor	1 month	3 months	6 months	9 months	12 months	18 months	24 months	36 months
Below $20,000	0.80%	1.00%	1.30%	1.50%	1.70%	1.80%	1.80%	1.80%
$20,000 to below $50,000
$50,000 to below $100,000
$100,000 to below $300,000
$300,000 to below $500,000
$500,000 and above	0.85%	1.05%	1.35%	1.55%	1.75%	1.85%	1.85%	1.85%

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 Promotion Rates (Nov 2022)

Tenor (Months)	PERSONAL BANKING Online Promo Rate (% p.a.) $10,000 & Above	PREFERRED BANKING Online Promo Rate (% p.a.) $10,000 & Above	Promoiton Validity
6 months	2.95%	3.00%	30 Nov 2022
9 months	3.15%	3.20%
12 months	3.75%	3.80%
18 months	3.85%	3.90%

To qualify for the promotion, applicants must open an Eligible Account and/or place a minimum amount of $5,000 to a maximum of $1 million per placement for the specific tenures.

CIMB Fixed Deposit Rates (Nov 2022) [Board Rates]

Tenor	Board Rates (% p.a.) $1,000 - $99,999	Board Rates (% p.a.) $100,000 & Above	Minimum Initial Deposit Amount
1 month	0.20%	0.20%	$5,000
2 months	0.25%	0.30%	$5,000
3 months	0.30%	0.35%	$1,000
6 months	0.30%	0.35%
9 months	0.30%	0.35%
12 months	0.30%	0.35%
24 months	0.30%	0.35%

CIMB Fixed Deposit Terms & Conditions

Rates are subject to change without prior notice.

Citibank Fixed Deposit Promotion Rates (Nov 2022)

Promotions	Deposit Amount (SGD)	Investment Sales Charge	Tenor	Promo Rate (p.a.)	Promtion Validity
SGD Time Deposit Promotion For Citigold Private Clients & Citigold	$50,000 - $3,000,000 (Fresh Funds)	—	3 months	3.50%	31 Dec 2022
			6 months	3.90%
			12 months	3.40%

*Lower of: 1 x Investment placement amount OR $2,000,000

To qualify for the Citigold Private Client and Citigold promotion, the minimum deposit amount is $50,000 in fresh/new funds.

Similarly, to qualify for the investment bundle promotion, you’ll need to make a minimum investment purchase of $50,000 with Citibank through a Relationship Manager or Personal Banker.

Do note that “Investment” refers to a Citi-distributed investment product with a minimum net sales charge of 1%.

Citibank Fixed Deposit Rates (Nov 2022) [Board Rates]

Deposit Amount (SGD)	Tenor	Interest Rate (% p.a.)
$10,000 - $3,000,000	1 week	0.05%
$10,000 - $3,000,000	2 weeks	0.05%
$10,000 - $3,000,000	1 month	0.05%
$10,000 - $3,000,000	2 - 3 months	0.08%
$10,000 - $3,000,000	6 - 36 months	0.10%

Citibank Fixed Deposit Terms & Conditions

Citibank is also offering time deposits with a minimum deposit amount of $10,000, with tenure from one week to 48 months.

DBS Fixed Deposit Promotion Rates (Nov 2022)

Next up we have Singapore’s biggest bank. But unfortunately, DBS is not running any Fixed Deposit promotions at the moment.

DBS Fixed Deposit Rates (Nov 2022) [Board Rates]

Tenor (Months)	Interest Rate (% p.a.) $1,000 - $9,999	Interest Rate (% p.a.) $10,000 - $19,999	Interest Rate (% p.a.) $20,000 - $999,999
1 month	0.05%	0.05%	0.05%
2 months	0.05%	0.05%
3 months	0.15%	0.15%
4 months	0.45%	0.45%
5 months	0.95%	0.95%
6 months	1.40%	1.40%
7 months	1.45%	1.45%
8 months	1.45%	1.45%
9 months	1.50%	1.50%
10 months	1.55%	1.55%
11 months	1.55%	1.55%
12 months	1.60%	1.60%
18 months	1.70%	1.70%
24 months
36 months
48 months
60 months

Note that DBS only accepts new placements for tenors 12 months and below. Interest rates for tenors of 18 months and above are applicable only to rollover of existing placements at the same tenor.

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
From 21 May 20, interest rates for new placements and renewals in an SGD FD Account will be computed based on the total SGD FD balances, instead of each placement and/or renewal.

Hong Leong Fixed Deposit Promotion Rates (Nov 2022)

Deposit Amount (SGD)	Tenor (Months)	Interest Rate (% p.a.)	Valid Till
$20,000 - $49,999	18	3.18%	From 18 Oct 2022
$50,000 - $99,999		3.25%
$100,000 - $999,999		3.28%
$1,000,000 and above		3.30%

Terms & Conditions:

The Fixed Deposit Promotion is applicable for individual accounts only and applicable to both new placement and renewal
Upon maturity, this Fixed Deposit will be auto-renewed at the prevailing Board/Special Rate whichever is applicable
For premature withdrawal, a $50 fee applies and 0.10% p.a. interest is payable for the completed quarter(s)
Promotional interest rates are subject to change without prior notice. Other terms & conditions apply,

Hong Leong Fixed Deposit Rates (Nov 2022) [Board Rates]

Tenor	Interest Rate (p.a.) ≤$49,999	Interest Rate (p.a.) >$50,000
1 month	0.05%	0.15%
2 months	0.05%
3 months	0.10%
4 months
5 months
6 months	0.15%	0.20%
7 months		0.25%
8 months		0.25%
9 months	0.20%	0.30%
10 months	0.20%	0.30%
12 months	0.25%	0.35%
13 months	0.25%	0.35%
15 months	0.30%	0.45%
18 months		0.45%
24 months		0.50%
30 months
36 months

Minimum deposits for different tenures are:

$500 for 3 to 36 months
$10,000 for 1 to 2 months
$100,000 for 1 week.

Hong Leong Fixed Deposit Terms & Conditions

For sums of $1 million and higher, please enquire at our branches for rates
For Non-Individual Accounts, please enquire at our branches for rates
Rates are only indicative and subject to change at any time without prior notice
Overdue Fixed Deposit (3 to 36 months) will be paid on the then prevailing Board Rate for completed quarter(s) or cycle(s)
Short-Term Monthly Deposits (1 & 2 months) – Overdue Fixed Deposit will be paid on the then prevailing Board Rate for each successive cycle (original tenure).

Hong Leong Fixed Deposit for Senior Citizens (Nov 2022)

If you are aged 55 and above, you get to enjoy a special senior citizen rate where you get to enjoy an additional 0.125% p.a. for deposits of 12 months and longer on amounts less than $50,000.

HSBC Fixed Deposit Promotion Rates (Nov 2022)

Tenor	New and Existing HSBC Customers (p.a.)	Promotion Validity
4 months	3.00%	30 Nov 2022
7 months	3.10%
12 months	3.20%

Promotion is eligible for new and existing Personal Banking, Premier and Jade customers, and valid till 31 Nov 2022.

The minimum fresh funds placement amount for the HSBC SGD Time Deposit Promotion is $30,000.

For placement amounts greater than $1,200,000, please contact either HSBC or your Relationship Manager.

HSBC Fixed Deposit Rates (Nov 2022) [Board Rates]

Customer Type	Deposit Amount (SGD)	Tenor 1 Month (% p.a.)	Tenor 3 Month (% p.a.)	Tenor 6 Month (% p.a.)	Tenor 12 Month (% p.a.)	Tenor 24 Month (% p.a.)
HSBC Personal Banking	$5,000 & above	0.05%	0.05%	0.10%	0.15%	1.75%*
HSBC Premier Banking	$5,000 & above	0.05%	0.05%	0.10%	0.15%	1.75%*
HSBC Jade	$5,000 & above	0.05%	0.05%	0.10%	0.15%	1.75%*

HSBC Fixed Deposit Terms & Conditions

For 24 Month SGD Time Deposit placement amount of $5,000 – $49,999, each customer will be limited to one placement per banking relationship
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 Promotion Rates (Nov 2022)

Tenor	Over the Counter Promotion Rates (Min. $5,000 & Above)	Via E-Banking Promotion Rates (Min. $500 & Above)
1 month	1.90%	1.95%
3 months	2.30%	2.35%
6 months	2.85%	2.90%
9 months	2.95%	3.00%
12 months	3.20%	3.25%

Terms & Conditions:

Rates are subject to change without prior notice and promotion is valid until further notice
There is no penalty for pre-matured withdrawal of 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.
The minimum deposit amount over counter is SGD20,000, the minimum deposit amount via E-banking is SGD500

Also, the following applies on maturity of the FD with auto-renewal instructions provided via electronic banking (ICBC Internet Banking or Mobile Banking) (“E-banking”):

For FD placed before 28th April 2020

1.Tenor of 1 month, 3 months, 6 months or 9 months:
FD will enjoy the prevailing Over-the-Counter Promotion Rate upon maturity of FD. For e.g., if you place 3 months FD on 5th February 2020, the prevailing Over-the-Counter Promotion Rate will automatically apply on renewal.

2.Tenor of 12 months:
FD will enjoy the prevailing E-banking Promotion Rate upon maturity of FD.

ICBC Fixed Deposit Rates (Nov 2022) [Board Rates]

Deposit Amount (SGD)/Tenure	1 month	3 months	6 months	9 months	12 months
$500 - $5,000 (exclusive)	1.90%	2.30%	2.85%	2.95%	3.20%
$5,000 - $200,000 (exclusive)	1.90%	2.30%	2.85%	2.95%	3.20%
$200,000 & Above	1.90%	2.30%	2.85%	2.95%	3.20%

ICBC Fixed Deposit Terms & Conditions

Minimum deposit of $500
No penalty for pre-matured withdrawal of 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 as fresh funds.

Maybank Fixed Deposit Promotion Rates (Nov 2022)

	Minimum Placement Amount	Tenure (months)	Interest Rate (p.a.)	Valid Till
SGD Time Deposit/Term Deposit-i Promotion (Placement in Branch) Available to Individual, SME and Commercial Banking customers	$20,000 and above	6 months	2.80%	Further notice (As of 20 Oct 2022)
		9 months	2.90%
		12 months	3.00%
		15 months	3.05%
		18 months	3.10%
		24 months	3.20%
iSAVvy Time Deposit Promotion (Online Placement) Available to Individual Banking customers	$25,000 and above	12 months	3.00%
		15 months	3.05%
		24 months	3.20%

Terms and Conditions:

SGD Time Deposit/Term Deposit-i promotion:
- Available to Individual, SME and Commercial Banking customers
- Minimum placement: $20,000
iSAVvy Time Deposit promotion:
- Available to Individual Banking customers
- Minimum placement: $25,000

Maybank Fixed Deposit Rates (Nov 2022) [Board Rates]

Singapore Dollar Time Deposit (p.a.)
Month(s)	$1,000 - $50,000	$50,001 - $99,999	$100,000 - $249,999	$250,000 - $999,999
1* \| 2 months	0.10%	0.10%	0.10%	0.10%
3 months	0.20%	0.20%	0.20%	0.20%
6 months	0.25%	0.25%	0.25%	0.25%
9 \| 12 months	0.35%	0.35%	0.35%	0.35%
18 months	0.40%	0.40%	0.40%	0.40%
24 months	0.50%	0.50%	0.50%	0.50%
36 months	0.60%	0.60%	0.60%	0.60%

*Minimum deposit for 1 month is $10,000.

Maybank iSAVvy Fixed Deposit Rates (Nov 2022)

iSAVvy Time Deposit
Month(s)	$5,000 to $19,999	$25,000 to $50,000	$50,001 to $249,999	$250,000 to $1,000,000
3	0.25% p.a.	0.25% p.a.	0.25% p.a.	0.25% p.a.
6	0.30% p.a.	2.80% p.a.	2.80% p.a.	2.80% p.a.
12	-	3.00% p.a.	3.00% p.a.	3.00% p.a.
15		3.05% p.a.	3.05% p.a.	3.05% p.a.
18		3.10% p.a.	3.10% p.a.	3.10% p.a.
24		3.20% p.a.	3.20% p.a.	3.20% p.a.
36		0.60% p.a.	0.60% p.a.	0.60 % p.a.

Maybank Fixed Deposit Terms & Conditions

Minimum age 16 years old
SGD Time Deposit’s Minimum Initial deposit:
- $1,000 for tenures from two to 36 months
- $10,000 for 1-month tenure and Choice Date with flexible tenure
- $1,000,000 for a 1-week tenure, applicable only to corporate accounts.
iSAVy Time’s Minimum deposit:
- $5,000 for 3 and 6 months tenure
- $25,000 for 12, 24 and 36 months tenure
Promotion is valid until further notice and rates are subject to change without prior notice.

OCBC Fixed Deposit Promotion Rates (Nov 2022)

Deposit Amount (SGD)	Tenor (Months)	Banking Relationship	Interest Rate (p.a.)	Valid Till
$20,000 & Above in Fresh Funds	12 months	Personal Banking	3.40%	Further notice
		Premier Banking	3.70%
		Premier Private Client	3.90%
	24 months	All	3.80%

Promotion Terms & Conditions

The minimum placement amount for the above SGD promotion is $20,000 of fresh funds. Fresh funds refer to funds not transferred or withdrawn from existing OCBC Bank deposit accounts and re-deposited and do not include funds in the form of OCBC Bank cheque/cashier’s order/demand drafts
This promotion is not available for placements via Supplementary Retirement Scheme (SRS) funds
Fresh funds refer to funds not transferred or withdrawn from existing OCBC Bank deposit accounts and re-deposited and do not include funds in the form of OCBC Bank cheque/cashier’s order/demand drafts. The maximum placement amount for all the above Time Deposit promotions is $999,999 or equivalent. For deposits above $1 million.

OCBC Fixed Deposit Rates (Nov 2022) [Board Rates]

Tenor Months	$5,000 - $20,000	>$20,000 - $50,000	>$50,000 - $99,999	$100,000 - $249,999	$250,000 - $499,999	$500,000 - $999,999
1 - 2	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%
3 - 5	0.10%	0.05%	0.05%	0.05%	0.05%	0.05%
6 - 8	0.20%	0.10%	0.10%	0.10%	0.10%	0.10%
9 - 12	0.20%	0.10%	0.10%	0.10%	0.10%	0.10%
13	0.35%	0.15%	0.15%	0.15%	0.15%	0.15%
14	0.50%	0.15%	0.15%	0.15%	0.15%	0.15%
15	0.60%	0.20%	0.20%	0.20%	0.20%	0.20%
18	0.80%	0.20%	0.20%	0.20%	0.20%	0.20%
20	0.20%	0.20%	0.20%	0.20%	0.20%	0.20%
24	0.95%	0.20%	0.20%	0.20%	0.20%	0.20%
36	1.30%	0.20%	0.20%	0.20%	0.20%	0.20%
48	1.50%	0.20%	N.A	N.A	N.A	N.A

OCBC Fixed Deposit Terms & Conditions

Above 18 years old who is a Singaporean, Singapore PR or foreigner with a valid pass
Minimum placement of $5,000 for normal fixed deposit.

RHB Fixed Deposit Promotion Rates (Nov 2022)

Deposit Amount	Tenure (Months)	RHB Mobile SG App Interest Rate (p.a.)	Renewals & Offline Placement Interest Rate (p.a.)	Valid Till
$20,000 and above	3 months	3.00%	—	Further notice
	6 months	3.10%	—
	12 months	3.40%	3.30%
	24 months	3.40%	3.30%

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.

RHB Fixed Deposit Rates (Nov 2022) [Board Rates]

RHB SGD Deposit Rates (% p.a.) / Tenure (months)	1 month	2 months	3 months	6 months	9 months	12 months	18 months	24 months	36 months
$20,000 to $200,000	0.10%	0.15%	0.30%	0.375%	0.375%	0.40%	0.40%	0.40%	0.40%
$200,000 & above	0.10%	0.15%	0.30%	0.40%	0.40%	0.55%	0.60%	0.65%	0.65%

RHB Fixed Deposit Rates Terms & Conditions

Rates for 1-month and 2-month are applicable for Commercial and Corporate customers only
Minimum 18 years old
Minimum placement of $20,000 in fresh funds for tenures of three months and above.

Standard Chartered Fixed Deposit Promotion Rates (Nov 2022)

	Deposit Amount (SGD)	Tenor (Months)	Promotional Interest Rate (p.a.)	Priority Banking Preferential Interest Rate (p.a.)	Promotion Validity
Online Placement	$25,000 and above in fresh funds	3 months	2.90%	3.00%	30 Nov 2022
Online Placement		12 months	3.10%	3.20%
Branch Placement		3 months	2.85%	2.95%
Branch Placement		12 months	3.05%	3.15%

Note:

*For Standard Chartered’s Fresh Funds promotions, you need to place a minimum of $25,000 in fresh funds
- Fresh funds refer to funds not originating from any existing account with Standard Chartered Bank (Singapore) Limited (the “Bank”) and funds that are not withdrawn and re-deposited within the last 30 days of opening your Time Deposit
The promotional interest rates are only applicable if the Time Deposit is held until the maturity of the tenure. Standard Chartered Singapore Dollar Time Deposit November 2022 Fresh Funds Promotion Terms and Conditions apply.

Standard Chartered Fixed Deposit Rates (Nov 2022) [Board Rates]: (New Time Deposit Placements and/or Renewals)

New Time Deposit Placements and/or Renewals	1 Month	3 Months	6 Months
<$20,000	0.05%	0.10%	0.15%
$20,000 & above	0.05%	0.10%	0.15%

Standard Chartered Fixed Deposit Rates (Existing Time Deposit And For Auto Rollover of Existing Time Deposits of Same Tenor)

Existing Time Deposit	9 Months	12 Months	15 Months	18 Months	24 Months	36 Months	48 Months	60 Months
<$20,000	0.50%	0.55%	0.70%	0.70%	0.70%	0.72%	0.85%	0.95%
$20,000 and above	0.50%	0.55%	0.70%	0.70%	0.70%	0.72%	0.85%	0.95%

Standard Chartered Fixed Deposit Terms & Conditions

Note: The above interest rates with a tenor of 36 months and above are applicable only to auto rollover of existing SGD Time Deposit placements at the same tenor. SC will not be accepting any new SGD Time Deposit placements with tenors of 36 months and above on the below interest rates.

UOB Fixed Deposit Promotion Rates (Nov 2022)

Minimum Deposit Amount (Fresh Funds)	Tenor (Months)	Interest Rate (p.a.)	Promotion Validity
$10,000 - $49,000	10 months	3.2%	4 - 30 Nov 2022
$50,000 - $499,999		3.5%
$500,000 - $999,999		3.6%
$1,000,000 and above		3.7%
$10,000 - $49,000	12 months	3.4%
$50,000 - $499,999		3.7%
$500,000 - $999,999		3.8%
$1,000,000 and above		3.9%

For those with a fixed deposit account with UOB, you must commit to at least a 10-month tenure and deposit at least $20,000 in fresh funds to enjoy the promotional interest rate.

UOB Fixed Deposit Rates (Nov 2022)

Deposit Tenure (% p.a)	<$50,000	$50,000 - $249,999	$250,000 - $499,999	$500,000 - $999,999
1 month	0.05%	0.05%	0.05%	0.05%
2 months	0.05%	0.05%	0.05%	0.05%
3 months	0.10%	0.10%	0.10%	0.10%
4 months	0.10%	0.10%	0.10%	0.10%
5 months	0.15%	0.15%	0.15%	0.15%
6 months	0.30%	0.30%	0.30%	0.30%
7 months	0.50%	0.50%	0.50%	0.50%
8 months	0.70%	0.70%	0.70%	0.70%
9 months	0.90%	0.90%	0.90%	0.90%
10 months	1.10%	1.10%	1.10%	1.10%
11 months	1.30%	1.30%	1.30%	1.30%
12 months	1.50%	1.50%	1.50%	1.50%
13 months	1.70%	1.70%	1.70%	1.70%
14 months	1.95%	1.95%	1.95%	1.95%
15 months	1.95%	1.95%	1.95%	1.95%
18 months	2.00%	2.00%	2.00%	2.00%
24 months	2.10%	2.10%	2.10%	2.10%
36 months	1.25%	1.25%	1.25%	1.25%

UOB Fixed Deposit Terms & Conditions

You must be at least 15 years old
Minimum placement of $5,000 for tenures of one month and above
Minimum placement of $250,000 for a tenure of between seven days and 14 days
Minimum placement of $1,000,000 for a tenure of fewer than 7 days

Fixed Deposit Account Vs Singapore Savings Bonds Vs Treasury Bills

If you’re thinking about other low-risk investment options with the flexibility of withdrawal in the short term, there are options such as the Singapore Saving Bonds (SSB) and Treasury Bills (T-bills).

SSBs and T-bills may offer a higher return than a fixed deposit; each SSB/T-bill tranche’s interest rate will differ monthly.

That said, we’ve noticed that recent SSB and T-bill rates have kinda soared:

But, do note that for SSBs and T-bills, you might not get the full amount that you want alloted.

Regardless of your option and how promising a certain investment may sound…

Always, ALWAYS do your own due diligence when you’re investing.

Don’t be shy to ask our friendly Seedly Community for their opinions when in doubt, or hop over to our product review page to read personal experiences!

About Joel Koh

History student turned writer at Seedly. Before you ask, not a teacher. I hope to help people make better financial decisions and not let money control them.

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