Looking for reliable ways to grow your savings? Fixed deposits remain a popular choice for many. This guide provides a detailed comparison of the top options available in June 2025.
Interest rates have seen a slight decline recently, but some banks still offer competitive deals. For instance, DBS/POSB leads with a 2.45% rate for 12-month deposits under S$20,000. Other banks like UOB and CIMB are also worth considering for their unique benefits.
Stay updated with the latest trends by joining Beansprout’s Telegram community. Regular updates ensure you always have the most relevant information at your fingertips.
Key Takeaways
- Compare top fixed deposit options for June 2025.
- DBS/POSB offers a market-leading 2.45% rate for deposits under S$20,000.
- Interest rates are declining, but some banks remain competitive.
- Join Beansprout’s Telegram community for real-time updates.
- Regular updates ensure you stay informed about the latest trends.
Introduction to Fixed Deposits in Singapore
Fixed deposits are a secure way to grow your money over time. They are low-risk, capital-guaranteed instruments that offer predictable returns. Unlike savings accounts, where interest rates can fluctuate, fixed deposits lock in your deposit interest rates for a specific period, typically ranging from 3 to 12 months.
One of the key advantages of fixed deposits is their stability. Your funds are insured by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor. This makes them a safe choice for those looking to preserve their capital while earning higher interest rates than traditional savings accounts.
What Are Fixed Deposits?
A fixed deposit is a financial product where you deposit a lump sum for a fixed period. In return, the bank guarantees a specific interest rate. Minimum deposits usually start at S$10,000, though some banks accept as little as S$500. Early withdrawals are possible but often come with penalties, unlike savings accounts which offer more flexibility.
Why Choose Fixed Deposits?
Fixed deposits are ideal for those who value predictability and security. They provide a steady return on your funds fixed for the agreed term. In the current market, where rates are declining, banks like UOB and OCBC still offer competitive options. If you’re looking for a low-risk way to grow your savings, fixed deposits are a solid choice.
Understanding Fixed Deposit Rates
Fixed deposit rates are influenced by a variety of factors, from central bank policies to market competition. These rates determine how much you earn on your savings over a set period. Understanding what drives them can help you make informed decisions about where to place your funds.
How Are FD Rates Determined?
The Monetary Authority of Singapore (MAS) plays a key role in shaping the rate environment. Their policies influence the interest rates that banks offer. For example, when MAS adjusts its monetary stance, it can lead to changes in the deposit rate across the board.
Banks also consider their liquidity needs. If a bank requires more funds, it may offer higher interest to attract deposits. Promotional strategies are another factor—banks often introduce special rates to draw in new customers.
Factors Affecting FD Rates
Several elements impact the fixed deposit rate you see advertised. The length of the deposit tenure is one—longer terms usually come with better rates. Inflation is another consideration, as it affects the real returns you earn.
Bank competition also plays a role. When multiple banks vie for customers, they may offer more attractive rates to stand out. Keeping an eye on these factors can help you spot the best opportunities for your savings.
Best FD Rates in Singapore (June 2025)
June 2025 brings a range of attractive opportunities for savers. If you’re looking for the best fixed deposit options, this section provides a detailed comparison of the rates offered by top banks. Whether you’re planning for short-term or long-term savings, understanding the deposit amount requirements and special conditions can help you make the right choice.
Top Banks Offering the Best Rates
Several banks stand out for their competitive offerings. DBS/POSB leads with a highest fixed deposit rate of 2.45% for a 12-month tenure. Bank of China and CIMB offer 2.15% for 3-month deposits, while SBI provides 2.00% for 6-month terms. Each bank has unique features, such as minimum deposit requirements and promotional rates, which are worth considering.
Comparison of 3-Month, 6-Month, and 12-Month Rates
Here’s a quick comparison of the rates offered across different tenures:
| Bank | 3-Month Rate | 6-Month Rate | 12-Month Rate |
|---|---|---|---|
| DBS/POSB | 2.10% | 2.20% | 2.45% |
| Bank of China | 2.15% | 2.10% | 2.15% |
| SBI | 1.95% | 2.00% | 2.10% |
Minimum deposit requirements vary widely, from S$500 for Bank of China via mobile banking to S$30,000 for Citibank. Some banks, like UOB, require fresh funds to qualify for promotional rates. For more detailed insights, check out this comprehensive guide on fixed deposit options.
DBS Fixed Deposit Rates
DBS offers one of the most competitive fixed deposit structures in the market. Its tiered interest system rewards smaller deposits with higher returns, making it a standout choice for savers.
DBS/POSB Rates and Terms
The bank’s 12-month tenure offers a 2.45% deposit interest for amounts below S$20,000. Larger deposits earn significantly less, at just 0.05%. This unique structure encourages diversification.
Here’s a breakdown of tenures and rates:
| Tenure | Rate (| Rate (≥S$20k) | |
|---|---|---|
| 1 Month | 1.80% | 0.03% |
| 6 Months | 2.20% | 0.04% |
| 12 Months | 2.45% | 0.05% |
“I locked in a 12-month DBS deposit at 2.45%—perfect for my short-term savings goal!”
Senior Citizen Benefits
Customers aged 55+ with a Premier Income Account receive an additional 0.10% bonus. For example, a S$15,000 deposit would earn 2.55% annually.
Key eligibility notes:
- Proof of age required.
- Premier account mandates a minimum deposit of S$20,000 in linked accounts.
Opening a deposit online takes under 10 minutes. Log in to DBS iBanking, select “Fixed Deposits,” and follow the prompts.
SBI Fixed Deposit Rates
SBI stands out in the fixed deposit market with its unique offerings. Known for its competitive deposit rates, SBI provides attractive options for both short-term and long-term savings. This section dives into the bank’s promotional rates, minimum deposit requirements, and the advantages of choosing a foreign bank in Singapore.
Promotional Rates and Minimum Deposits
SBI offers a 2.35% interest rate for a 6-month tenure, requiring a minimum deposit of S$50,000. For a 12-month term, the rate is slightly lower at 2.25%, with the same minimum deposit. These rates are part of a limited-time promotion, making them an excellent opportunity for those with higher savings.
Here’s how SBI compares to other banks for 6-month deposits:
| Bank | 6-Month Rate | Minimum Deposit |
|---|---|---|
| SBI | 2.35% | S$50,000 |
| DBS/POSB | 2.20% | S$10,000 |
| Bank of China | 2.10% | S$500 |
The high minimum deposit requirement may be a barrier for some, but it ensures that larger investors can maximize their returns. Foreign banks like SBI often bring unique advantages, such as global expertise and tailored services, making them a strong contender in the Singapore market.
Digital Application Process
Applying for an SBI fixed deposit account is straightforward. The bank offers a fully digital process, allowing you to open an account in just a few steps. Simply visit their website, fill out the required details, and upload the necessary documents. This convenience makes it easier than ever to secure your savings with SBI.
Whether you’re looking for competitive interest rates or the reliability of a foreign bank, SBI’s fixed deposit options are worth considering. Take advantage of their promotional rates before they expire!
Bank of China Fixed Deposit Rates
Bank of China provides flexible fixed deposit options tailored to modern savers. Whether you prefer digital convenience or in-person service, the bank offers competitive rates across different channels. Understanding the differences between online and over-the-counter options can help you maximize your returns.
Online vs Over-the-Counter Rates
Bank of China’s online rates are often more attractive than over-the-counter options. For example, a 3-month deposit via mobile banking earns 2.15% with a minimum of S$500. In contrast, over-the-counter rates are typically 0.25-0.50% lower. This makes digital placement a smarter choice for most savers.
Here’s a quick comparison of the two channels:
- Online Rates: 2.15% for 3 months (S$500), 2.20% for 6 months (S$20,000).
- Over-the-Counter Rates: Lower by 0.25-0.50%, with higher minimum deposits.
Digital Placement Incentives
Bank of China encourages digital applications through exclusive online rates and streamlined processes. Applying via mobile banking is quick and user-friendly, often taking less than 10 minutes. The bank also offers new customer bonuses for first-time digital users, making it an appealing option for tech-savvy savers.
Minimum Amount Differences
Minimum deposit requirements vary significantly between channels. Online placements start at S$500, while over-the-counter options often require higher amounts. This flexibility allows savers with smaller budgets to access competitive rates.
Rate Adjustments and Cross-Selling
Bank of China adjusts its rates periodically to stay competitive. Savers should monitor these changes to lock in the best deals. Additionally, the bank often cross-sells its fixed deposits with other products, such as loans or credit cards, providing added value for customers.
Whether you’re a new customer or an existing one, Bank of China’s fixed deposit options are worth exploring. Their digital-first approach and competitive online rates make them a strong contender in the market.
ICBC Fixed Deposit Rates
ICBC offers a range of fixed deposit options designed to meet diverse financial goals. With competitive promotional rates and flexible tenures, it’s a solid choice for savers looking to maximize their returns. Whether you prefer digital convenience or in-person service, ICBC has tailored solutions to suit your needs.
E-Banking Promotional Rates
ICBC’s e-banking platform provides attractive rates for online placements. For example, a 3-month deposit earns 2.15% with a deposit amount ranging from S$500 to S$200,000. Larger deposits benefit from tiered rates, ensuring higher returns for bigger investments.
Here’s a quick comparison of online and branch rates:
- Online Rates: 2.15% for 3 months (S$500-S$200,000).
- Branch Rates: Slightly lower, with higher minimum deposit requirements.
Tenure Flexibility and Auto-Renewal
ICBC offers tenures from 1 to 12 months, catering to both short-term and long-term savings goals. The auto-renewal feature ensures your funds continue to earn interest without manual intervention, making it a hassle-free option for busy individuals.
Currency Diversification and Security
For those looking to diversify, ICBC supports multiple currencies, including USD and EUR. Digital placements come with robust security features, ensuring your funds are safe and accessible. Whether you’re a seasoned investor or a first-time saver, ICBC’s fixed deposit options provide reliability and convenience.
Maybank Fixed Deposit Rates
Maybank’s fixed deposit options provide a reliable way to grow your savings with competitive returns. Whether you’re saving for short-term goals or long-term plans, their flexible tenures and attractive rates make them a strong contender in the market.
iSAVvy Promotional Rates
Maybank’s iSAVvy account integration offers exclusive benefits for fixed deposit holders. For instance, a deposit 20,000 in a 9-month online plan earns 1.85%, while 6 and 12-month tenures offer 1.80%. These promotional rates are ideal for those looking to maximize their returns.
Here’s a quick comparison of Maybank’s savings products:
- iSAVvy Account: Seamless integration with fixed deposits for easy fund management.
- Savings Accounts: Lower interest rates but greater flexibility for withdrawals.
- Promotional Period: Limited-time offers, so act quickly to secure the best rates.
Maybank also supports multi-currency fixed deposits, allowing you to diversify your savings in USD, EUR, or other currencies. Relationship banking customers enjoy additional perks, such as priority service and exclusive rates.
With its user-friendly digital platform and customer-focused features, Maybank’s fixed deposits are a smart choice for savers. Explore their options today to find the plan that suits your financial goals.
Hong Leong Finance Fixed Deposit Rates
Hong Leong Finance offers tailored fixed deposit options for diverse financial needs. Whether you’re saving for personal goals or managing business funds, their plans provide flexibility and attractive returns. With a focus on customer satisfaction, they stand out in the market with unique features and benefits.
Exclusive Bonuses for New Customers
Hong Leong Finance rewards new customers with a cash bonus of S$10 for opening a 13-month fixed deposit. This promotion requires a minimum deposit of S$5,000, making it accessible for a wide range of savers. The dual account requirement, which includes a Premium Saver account, ensures seamless fund management.
Here’s what you need to know about their onboarding process:
- Digital Application: The fully digital process allows you to open an account in minutes.
- Rate Adjustments: Rates are reviewed periodically to remain competitive in the market.
- SME Focus: Specialized products cater to small and medium-sized enterprises.
Compared to traditional banks, Hong Leong Finance offers a more personalized approach. Their SME-focused products and digital convenience make them a strong choice for both individuals and businesses. Take advantage of their cash bonus and competitive rates to grow your savings today.
RHB Fixed Deposit Rates
RHB offers a range of fixed deposit plans tailored to different financial needs. Whether you’re an individual saver or a high-net-worth client, their options provide flexibility and competitive returns. With a minimum deposit of S$20,000, you can choose between personal banking and premier banking rates to maximize your savings.
Personal vs Premier Banking Rates
RHB’s premier banking clients enjoy higher returns compared to personal banking customers. For example, a 12-month deposit earns 2.10% for premier accounts, while personal accounts offer 2.00%. This tiered structure ensures that larger deposits receive better rates, making it an attractive option for those with significant savings.
Here’s a quick comparison of the two options:
| Account Type | 12-Month Rate | Minimum Deposit |
|---|---|---|
| Premier Banking | 2.10% | S$20,000 |
| Personal Banking | 2.00% | S$20,000 |
Key Features of RHB Fixed Deposits
- Premier Account Qualification: To qualify for premier banking, you need to maintain a higher balance across your accounts.
- Multi-Tier Rate Structure: Larger deposits earn better rates, encouraging higher savings.
- Mobile App Features: Manage your deposits, track rates, and receive alerts through RHB’s user-friendly app.
- Regional Banking Benefits: Premier clients enjoy exclusive perks like priority service and financial planning support.
- Rate Change Alerts: Stay informed about rate adjustments to lock in the best deals.
RHB’s fixed deposit plans are designed to meet diverse financial goals. Whether you’re saving for a short-term goal or building long-term wealth, their competitive rates and flexible options make them a strong choice.
CIMB Fixed Deposit Rates
CIMB’s fixed deposit options cater to savers seeking flexibility and higher returns. With a focus on customer satisfaction, they offer tailored plans that suit diverse financial goals. Whether you’re saving for a short-term need or a long-term plan, CIMB’s solutions are worth considering.
Preferred Banking Rates
CIMB’s preferred banking clients enjoy higher returns compared to regular accounts. For example, a 3-month deposit earns 2.20%, while regular accounts offer 2.15%. This tiered structure ensures that larger deposits receive better rates, making it an attractive option for those with significant savings.
Here’s a quick comparison of CIMB’s rates:
- 3-Month Tenure: 2.20% (Preferred) vs 2.15% (Regular).
- 6-Month Tenure: 2.10% (Preferred) vs 2.05% (Regular).
- 12-Month Tenure: 1.90% (Preferred) vs 1.85% (Regular).
Tenure-Based Rate Differences
CIMB offers tenures ranging from 3 to 24 months, allowing you to choose a plan that aligns with your financial goals. Longer tenures often come with slightly lower rates, but they provide stability and predictable returns. For example, a 12-month deposit earns 1.90%, while a 3-month deposit offers 2.20%.
Cross-Border FD Options
For those looking to diversify, CIMB supports multi-currency fixed deposits. This feature allows you to save in USD, EUR, or other currencies, providing flexibility for international savers. Cross-border options are ideal for those with global financial interests.
Rate Lock-In Procedures
CIMB’s rate lock-in feature ensures that your deposit earns the agreed-upon interest rate for the entire tenure. This protects your savings from market fluctuations, providing peace of mind and predictable returns. To lock in a rate, simply confirm your deposit details during the application process.
Profit Payout Frequency
CIMB offers flexible profit payout options, including monthly, quarterly, or at maturity. This allows you to choose a plan that suits your cash flow needs. For example, monthly payouts are ideal for those who rely on interest income for daily expenses.
To explore CIMB’s fixed deposit options in detail, visit their official page. Their user-friendly platform and competitive rates make them a strong choice for savers in Singapore.
Citibank Fixed Deposit Rates
Citibank offers tailored fixed deposit solutions for those with significant savings. Their plans are designed to maximize returns for larger deposits, making them a strong choice for high-value investors. Whether you’re saving for a short-term goal or diversifying your portfolio, Citibank’s options provide flexibility and security.
Promotional Rates for High Deposits
Citibank’s promotional rates are particularly attractive for high deposits. For deposits ranging from S$50,000 to S$3 million, you can earn up to 2.10% for 3 or 6-month tenures. These rates are ideal for those looking to grow their savings quickly while maintaining flexibility.
Here’s a quick breakdown of Citibank’s promotional rates:
- 3-Month Tenure: 2.10% for deposits between S$50,000 and S$3 million.
- 6-Month Tenure: 2.10% for the same deposit range.
Citigold Relationship Benefits
Citibank’s Citigold clients enjoy exclusive perks, including higher interest rates and personalized financial planning. This premium service is designed for high-net-worth individuals, offering tailored solutions to meet their unique needs. If you’re a Citigold member, you can unlock additional benefits that enhance your savings strategy.
USD FD Rate Comparisons
For those interested in foreign currency options, Citibank offers competitive USD fixed deposit rates. These plans allow you to diversify your savings and hedge against currency fluctuations. Comparing USD rates with local currency options can help you make informed decisions based on your financial goals.
Large Deposit Security Measures
Citibank prioritizes the security of your funds, especially for high deposits. Their robust measures include advanced encryption and monitoring systems to protect your savings. This ensures peace of mind, knowing your investments are safe and secure.
Escalator Rate Structures
Citibank’s escalator rate structures allow you to earn higher returns over time. These plans are ideal for those who prefer gradual increases in their interest earnings. By locking in a rate that escalates, you can maximize your returns without frequent adjustments.
Maturity Notification System
Citibank’s maturity notification system keeps you informed about your deposit’s status. You’ll receive timely reminders before your deposit matures, allowing you to decide whether to renew or withdraw your funds. This feature ensures you never miss an opportunity to optimize your savings.
UOB Fixed Deposit Rates
UOB’s fixed deposit plans are designed to help you maximize your savings with ease. Whether you’re saving for a short-term goal or planning for the future, their competitive rates and flexible options make them a strong choice.
Fresh Funds Promotions
UOB offers attractive rates for deposits made with fresh funds. For example, a 6-month deposit earns 2.00%, while a 10-month tenure offers 1.70%. These promotions are ideal for those looking to grow their savings quickly.
What are fresh funds? These are funds not currently held in any UOB account. By using fresh funds, you can unlock higher promotional interest rates and maximize your returns.
Comparison with UOB One Account Rates
UOB’s fixed deposit rates often outperform their One Account rates, especially for shorter tenures. Here’s a quick comparison:
| Product | 6-Month Rate | 10-Month Rate |
|---|---|---|
| Fixed Deposit | 2.00% | 1.70% |
| One Account | 1.50% | 1.20% |
Step-Up Rate Opportunities
UOB’s step-up rate feature allows you to earn higher interest over time. This is perfect for those who want to start small and gradually increase their savings. It’s a flexible option that adapts to your financial goals.
Joint Account Benefits
Opening a joint fixed deposit account with UOB comes with added perks. Both account holders can manage the funds, making it a convenient option for families or partners. Plus, joint accounts often qualify for the same promotional interest rates.
Rate Extension Options
UOB allows you to extend your fixed deposit tenure at the current rate. This ensures you can continue earning interest without interruption. It’s a hassle-free way to keep your savings growing.
Fixed Deposits vs Singapore Savings Bonds (SSBs)
When deciding where to invest, understanding the differences between fixed deposits and Singapore Savings Bonds is crucial. Both options offer secure ways to grow your money, but they cater to different financial needs and goals.
Fixed deposits provide a guaranteed interest rate for a specific tenure, while Singapore Savings Bonds offer flexibility with no lock-in period. For example, a 1-year SSB yields 2.20%, compared to a fixed deposit’s 2.45%. However, SSBs require a minimum deposit of just S$500, making them more accessible than fixed deposits, which often start at S$5,000.
Flexibility and Returns Compared
One of the key advantages of Singapore Savings Bonds is their liquidity. You can redeem your investment at any time without penalties, unlike fixed deposits, which may charge fees for early withdrawals. This makes SSBs ideal for those who need access to their funds.
On the other hand, fixed deposits offer higher returns for longer tenures. For instance, a 12-month fixed deposit at 2.45% outperforms a 1-year SSB at 2.20%. If you’re comfortable locking in your funds, fixed deposits can provide better earnings.
- Redemption Flexibility: SSBs allow withdrawals anytime, while fixed deposits penalize early redemptions.
- Rate Lock-In: Fixed deposits guarantee a fixed rate, whereas SSB rates adjust monthly.
- Government Backing: Both are secure, with SSBs backed by the Singapore government and fixed deposits insured by SDIC.
- Laddering Strategies: Diversify your investments by combining both options to balance liquidity and returns.
- Tax Implications: Interest from both is tax-free, making them equally attractive from a tax perspective.
Ultimately, the choice between fixed deposits and Singapore Savings Bonds depends on your financial goals. If you prioritize flexibility, SSBs are the way to go. For higher returns and stability, fixed deposits are a solid choice.
Fixed Deposits vs T-Bills
When comparing investment options, it’s essential to weigh the pros and cons of each. Fixed deposits and T-bills are both secure ways to grow your money, but they cater to different financial needs. Understanding their differences can help you make the right choice for your goals.
Fixed deposits offer a guaranteed interest rate for a specific tenure, while T-bills are short-term government securities. For example, a 6-month T-bill yields 2.20%, compared to a fixed deposit’s 2.35%. However, T-bills come with unique features, such as the auction process and secondary market liquidity challenges.
Liquidity and Risk Comparison
One key difference is liquidity. Fixed deposits often penalize early withdrawals, while T-bills can be sold in the secondary market. However, selling T-bills before maturity may result in lower returns due to market fluctuations. This introduces a level of liquidity risk that fixed deposits don’t have.
Another factor is capital risk. Fixed deposits are insured by the SDIC, ensuring your principal is safe. T-bills, while backed by the government, are subject to market conditions. This makes fixed deposits a more secure option for those prioritizing capital preservation.
- Auction Process: T-bills are purchased through auctions, where the yield is determined by demand and supply.
- Early Withdrawal Penalties: Fixed deposits charge fees for early withdrawals, while T-bills can be sold in the secondary market.
- Capital Preservation: Fixed deposits are insured, making them safer for risk-averse investors.
- Reinvestment Risk: T-bills require reinvestment after maturity, which may result in lower returns if rates decline.
- MAS Role: The Monetary Authority of Singapore regulates both instruments, ensuring stability and transparency.
“Fixed deposits offer stability, while T-bills provide flexibility. The choice depends on your financial goals and risk tolerance.”
Ultimately, the decision between fixed deposits and T-bills depends on your priorities. If you value stability and guaranteed returns, fixed deposits are the way to go. For those seeking flexibility and short-term gains, T-bills are worth considering.
Fixed Deposits vs Cash Management Accounts
Exploring alternatives to traditional savings can open new doors for your financial growth. While fixed deposits are a popular choice, cash management accounts offer a modern approach with added flexibility. Understanding the differences can help you make informed decisions.
One standout option is Syfe Cash+, which provides a unique alternative to fixed deposits. With a 3-month rate of 2.25%, it’s slightly lower than the 2.45% offered by fixed deposits. However, it comes with no minimum deposit requirement, making it accessible for all savers.
Why Consider Syfe Cash+?
Syfe Cash+ is structured with funds held in MAS-regulated banks, ensuring security and reliability. Here’s how it compares to traditional fixed deposits:
| Feature | Syfe Cash+ | Fixed Deposits |
|---|---|---|
| 3-Month Rate | 2.25% | 2.45% |
| Minimum Deposit | None | Varies (often S$5,000+) |
| Redemption Speed | Fast (within 1-2 days) | Slower (may incur penalties) |
Another advantage is the fee structure. Syfe Cash+ charges no hidden fees, ensuring transparency. Fixed deposits, on the other hand, may impose penalties for early withdrawals.
Rate transparency is another key benefit. Syfe Cash+ provides clear information on guaranteed rates, so you know exactly what to expect. This contrasts with some fixed deposit promotions that may have complex terms.
Finally, Syfe Cash+ supports portfolio diversification. By combining it with other savings options, you can balance liquidity and returns. This flexibility makes it a strong contender for those looking to optimize their financial strategy.
Conclusion: Choosing the Best Fixed Deposit in Singapore
Making the right choice for your savings requires careful consideration of your financial goals. For short-term needs, 3-month deposits offer flexibility, while 6-month and 12-month options provide higher returns for long-term planning. Top picks include competitive rates from trusted banks, ensuring your money grows steadily.
To beat inflation, diversify your savings across different tenures. This strategy helps balance liquidity and returns. Additionally, keep an emergency fund in accessible accounts to handle unexpected expenses without penalties.
Regularly monitor rate changes to lock in the best deals. Digital tools make it easy to compare rates and find the most suitable options. Platforms like Beansprout’s Telegram community provide real-time updates, keeping you informed about the latest trends.
In conclusion, choosing the best fixed deposit depends on your unique needs. Use digital comparison tools to simplify the process and maximize your savings effectively.
