Giving Up On Singapore Savings Bond? Here Are The Best Fixed Deposit Promotions For Higher Returns!
Have you been losing patience with the Singapore Savings Bond (SSB) lately since the interest rates haven’t been the most attractive?
Well, if you haven’t seen it yet, the latest issue for Singapore Savings Bond (SSB) just doesn’t cut it for a lot of us.
While it’s one of the safest investments you can make, it doesn’t even beat the average inflation rate.
As you’ve seen, the highest rate that you’ll get is 1.74% per annum, and that’s only after you’ve kept your money inside for 10 years!
Yea, I know, it’s better than putting it in a regular savings account with interest of 0.05%, but c’mon, you can do better than that…
So, where else can you grow your money with low risk?
Yea, you thought right! You can consider putting your money into a fixed deposit account as an alternative to SSB!
In fact, with the promotional rates that the banks are offering right now, it’s really a pretty good deal!
TL;DR – Best Fixed Deposit Promotion Based On Placement Amount
Yea, you’re right, why keep your money with SSB for 10 long years, when you can get higher interest rates in a year or less?
Maybe you just have to be a bit more hardworking, and look out for more promotions when your tenor is up.
But hey, it’s your money, I’m sure you want the best investments for yourself.
Of course, you’re not just restricted to CIMB or Maybank, there are other banks offering attractive promotional rates for their fixed deposit accounts that are better than the current SSB.
Best Promotional interest Rates for Fixed Deposits below $20,000:
| Tenor | Bank | Interest Rates (per annum) |
|---|---|---|
| 1 Month | ICBC | 1.25% |
| 3 Months | CIMB | 1.70% |
| ICBC | ||
| 6 Months | CIMB | |
| ICBC | ||
| 9 Months | ICBC | |
| 12 Months | CIMB | 1.85% |
| ICBC | 1.75% |
Best Promotional interest Rates for Fixed Deposits below $50,000:
| Tenor | Bank | Interest Rates (per annum) |
|---|---|---|
| 1 Month | ICBC | 1.35% |
| 3 Months | CIMB | 1.70% |
| ICBC | 1.80% | |
| 6 Months | CIMB | 1.70% |
| ICBC | 1.80% | |
| 9 Months | Maybank | 2.10% |
| ICBC | 1.80% | |
| 10 Months | UOB | 1.50% |
| 12 Months | CIMB | 1.85% |
| ICBC | ||
| Hong Leong | 1.73% |
Best Promotional interest Rates for Fixed Deposits above $50,000:
| Tenor | Bank | Interest Rates (per annum) |
|---|---|---|
| 1 Month | ICBC | 1.35% |
| 3 Months | CIMB | 1.70% |
| ICBC | 1.80% | |
| 6 Months | CIMB | 1.70% |
| ICBC | 1.80% | |
| 9 Months | Maybank | 2.10% |
| ICBC | 1.80% | |
| 10 Months | UOB | 1.50% |
| 12 Months | CIMB | 1.85% |
| ICBC | ||
| Hong Leong | 1.80% | |
| 24 Months | Maybank | 2.00% |
Individual Banks And Their Singapore Dollar Fixed Deposit Promotional Interest Rates In Singapore
CIMB Singapore Dollar Fixed Deposit Promotional Interest Rates
- Valid from 1 October 2019 to 31 October 2019
- CIMB Preferred Customers: Maintain Total Relationship Balance of at least $250,000 in deposits and/or investments
| Tenor (Lock-in Period) | Placement Amount (S$) |
||
|---|---|---|---|
| All Customers | Preferred Customers Only | ||
| $10k - $150k | $150k and above | $10k and above | |
| 3 Months | 1.70% | 1.80% | |
| 6 Months | 1.70% | ||
| 12 Months | 1.85% | ||
Hong Leong Singapore Dollar Fixed Deposit Promotional Interest Rates
- Valid until further notice
| Tenor (Lock-in Period) | Placement Amount (S$) |
||
|---|---|---|---|
| $20k - $50k | $50k - $100k | $100k and above | |
| 3 Months | 1.45% | 1.50% | 1.55% |
| 12 Months | 1.73% | 1.80% | 1.80% |
HSBC Singapore Dollar Fixed Deposit Promotional Interest Rates
- Valid from 1 October 2019 to 31 October 2019
- HSBC Advance Customers: Maintain Total Relationship Balance of at least $30,000 in deposits, investments and/or insurance
- HSBC Premier Customers: Maintain Total Relationship Balance of at least $200,000 in deposits, investments and/or insurance
| Tenor (Lock-in Period) | Placement Amount (S$) |
|
|---|---|---|
| HSBC Advance Customers | HSBC Premier Customers | |
| $30k - $1.2 million | ||
| 6 Months | 1.60% | 1.65% |
| 12 Months | 1.70% | 1.75% |
ICBC Singapore Dollar Fixed Deposit Promotional Interest Rates
- Valid until further notice
| Tenor (Lock-in Period) | Placement Amount (S$) |
|
|---|---|---|
| $500 - $20k | $20k and above | |
| 1 Month | 1.25% | 1.35% |
| 3 Months | 1.70% | 1.80% |
| 6 Months | ||
| 9 Months | ||
| 12 Months | 1.85% | |
| 12 Months (e-Banking) | 1.75% | |
Maybank Singapore Dollar Time Deposit Promotional Interest Rates
- Valid from 20 August 2019 until further notice
- A minimum deposit amount of $2,000 in Maybank Current or Savings accounts required
| Tenor (Lock-in Period) | Placement Amount (S$) |
|---|---|
| $20k and above | |
| 9 Months | 2.10% |
Maybank iSAVvy Time Deposit Promotional Interest Rates
- Valid from 10 January until further notice
| Tenor (Lock-in Period) | Placement Amount (S$) |
|---|---|
| $50k - $1 million | |
| 12 Months | 1.70% |
| 24 Months | 2.00% |
OCBC Singapore Dollar Time Deposit Promotional Interest Rates
- Valid until further notice
- Not available for placements via Supplementary Retirement Scheme (SRS) funds
| Tenor (Lock-in Period) | Placement Amount (S$) |
|---|---|
| $20k - $1 million | |
| 12 Months | 1.55% |
Standard Chartered Singapore Dollar Time Deposit Promotional Interest Rates
- Valid from 1 October 2019 – 31 October 2019
- Priority Banking membership: Maintain at least $200,000 in deposits and/or investments
| Tenor (Lock-in Period) | Placement Amount (S$) |
|
|---|---|---|
| All Customers | Priority Banking Customers | |
| $25k and above | ||
| 12 Months | 1.70% | 1.80% |
UOB Singapore Dollar Fixed Deposit Promotional Interest Rates
- Valid from 1 October 2019 – 31 October 2019
| Tenor (Lock-in Period) | Placement Amount (S$) |
|---|---|
| $20k and above | |
| 10 Months | 1.50% |
Would you be redirecting some funds to fixed deposits while waiting for the returns for Singapore Savings Bond to buck up again?
Have questions about your investment portfolio? Ask them here!
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