Compare Best Fixed Deposit Rates Singapore

When planning your savings, understanding the current interest rates is crucial. In Singapore, several banks offer competitive options for short-term and long-term savings. For example, DBS/POSB provides a 2.45% p.a. rate for 12-month deposits, with a maximum cap of S$19,999. This makes it a strong choice for those looking to grow their funds over a year.

For shorter tenures, SBI leads with a 2.35% p.a. rate for 6-month deposits. Meanwhile, Bank of China and ICBC offer 2.15% p.a. for 3-month deposits. These options cater to savers with different financial goals and timelines. Updated as of June 2025, these rates are verified directly from bank websites.

If you’re exploring alternatives, StashAway Simple™ Cash offers a projected return of 2.8%. This could be a flexible option for those seeking higher yields without locking in their funds. Always consider factors like deposit caps and tenure flexibility when making your decision.

Key Takeaways

• DBS/POSB offers a 2.45% p.a. rate for 12-month deposits.
• SBI leads with 2.35% p.a. for 6-month deposits.
• Bank of China and ICBC provide 2.15% p.a. for 3-month deposits.
• Updated rates are verified as of June 2025.
• StashAway Simple™ Cash offers a projected 2.8% return.

Introduction to Fixed Deposits in Singapore

Secure savings often begin with predictable returns. In Singapore, fixed deposits are a popular choice for risk-averse investors. These instruments let you lock funds for 1–36 months at guaranteed deposit interest rates, offering stability compared to volatile markets.

What Is a Fixed Deposit?

A fixed deposit is a low-risk savings tool with preset tenures and rates. Unlike savings accounts, which may require minimum spending or balances, FDs provide certainty. Your principal earns interest until maturity, shielded from market fluctuations.

Why Choose Fixed Deposits?

FDs suit those prioritizing capital protection. The Singapore Deposit Insurance Corporation (SDIC) insures up to S$100,000 per depositor. This safety net makes them ideal for emergency funds or short-term goals.

High-yield savings accounts might offer 7.68%, but conditions like card spending apply. FDs eliminate such hassles. Early withdrawals, however, often forfeit interest—plan your tenure carefully.

For cash management alternatives, note that market-linked options carry risks. FDs guarantee returns, making them a stress-free cornerstone for diversified portfolios.

Understanding Fixed Deposit Rates

Understanding how financial tools work can help you make informed decisions. When it comes to savings, fixed deposit rates play a key role in determining your returns. These rates are influenced by various factors, including placement channels, customer tiers, and fund types.

How Fixed Deposit Rates Work

Fixed deposit rates are determined by mechanisms like MAS policies and interbank rates. Banks often offer different rates based on how you place your funds. For example, digital placements may come with bonuses, while counter placements might have standard rates.

Tenure also plays a significant role. Longer lock-ins usually offer higher rates, but they limit flexibility. Shorter tenures, on the other hand, provide liquidity but may yield lower returns.

Factors Affecting Fixed Deposit Rates

Several factors influence the interest rate you receive. Customer tiers, such as premier or personal banking, can lead to rate variations. For instance, HSBC offers 2.00% for premier customers compared to 1.55% for personal banking clients.

Minimum deposit requirements also vary. Some banks start at S$500, while others require up to S$50,000. Promotional rates often differ from standard rates, so it’s essential to compare options before committing.

By understanding these factors, you can choose the right tenure and placement channel to maximize your returns. Always compare rates and read the fine print to make the most of your savings.

Best Fixed Deposit Rates in Singapore [June 2025]

Finding the right savings option can make a big difference in your financial goals. In June 2025, several banks in Singapore are offering competitive higher interest rates for various tenures. Whether you’re saving for the short term or planning long-term growth, understanding these options is key.

Overview of Top Rates

DBS leads the pack with a 2.45% p.a. rate for 12-month tenures, especially for deposits under S$20,000. For shorter tenures, SBI offers 2.35% p.a. for 6-month deposits, while CIMB provides 2.20% p.a. for 3-month tenures. These rates cater to different financial needs and timelines.

Here’s a quick comparison of the top rates:

• DBS: 2.45% p.a. for 12-month deposits (under S$20,000).
• SBI: 2.35% p.a. for 6-month deposits.
• CIMB: 2.20% p.a. for 3-month deposits.

Key Highlights

DBS’s tiered structure is worth noting. Deposits above S$20,000 see a significant drop in deposit rate, falling to just 0.05%. This makes it ideal for smaller savers but less attractive for larger amounts.

Special promotions are also available. HLF is offering a S$10 cash credit for new accounts, while Maybank’s bundle promotions require linked accounts for additional benefits. Limited-time offers from Citibank (until 30/6) and HSBC (until 31/5) are also worth exploring.

It’s important to note that higher interest rates peaked in 2023 and have since seen a gradual decline. Savers should act quickly to lock in the best rates before they drop further.

Bank of China Fixed Deposit Rates

Exploring your savings options with Bank of China can lead to better financial outcomes. Whether you prefer traditional counter services or modern mobile banking, they offer flexible solutions tailored to your needs.

Counter Deposit Rates

For those who prefer in-person transactions, counter deposits at Bank of China provide stability. Rates range from 1.85% to 1.95%, depending on the tenure. However, the minimum deposit amount starts at S$20,000, making it more suitable for larger savings.

Longer tenures, such as 24 months, offer a rate of 1.65%. While this is lower than mobile options, it’s a reliable choice for those who value face-to-face service.

Mobile Banking Promo Rates

Mobile banking with Bank of China offers significant advantages. Rates are 83% higher compared to counter deposits, ranging from 2.10% to 2.15%. The minimum deposit amount is just S$500, making it accessible for retail investors.

For 12-month tenures, the rate remains consistent at 2.15%, provided you meet the S$20,000 threshold. Shorter tenures, like 3 months, also offer competitive rates, ensuring flexibility for your financial goals.

Always review the terms conditions to understand any requirements or limitations. Mobile banking is a convenient way to maximize your returns without compromising on accessibility.

• Mobile rates are 83% higher than counter deposits.
• Minimum deposit starts at S$500 for mobile banking.
• 12-month mobile promo requires S$20,000 for the best rate.
• Consistent rates across 3-12 month tenures.
• 24-month mobile rate at 1.90%.

Citibank Fixed Deposit Rates

Citibank offers a range of savings options to help you grow your funds effectively. Whether you’re looking for short-term gains or long-term stability, their fixed deposit rates cater to diverse financial needs. Understanding the differences between promotional and standard rates can help you make the most of your savings.

New Funds Promotion

Citibank’s new funds promotion is ideal for those ready to commit a significant amount. With a minimum requirement of S$50,000, you can enjoy an interest rate of 2.10% for tenures between 3 to 6 months. This is 31% higher than their standard rates, making it a compelling option for larger savers.

However, it’s important to note that this promotion applies only to fresh funds. Funds transferred from existing Citibank accounts or other banks are eligible, but internal transfers do not qualify. This ensures that the promotion attracts new deposits.

Standard Fixed Deposit Rates

For those who prefer flexibility, Citibank’s standard rates range from 1.40% to 1.60%. These rates are consistent across tenures and deposit sizes, starting from S$10,000 up to a maximum of S$3 million. While lower than promotional rates, they offer stability without the need for large commitments.

Unlike the promotion, standard rates do not require fresh funds. This makes them accessible for those who prefer to manage their savings without additional requirements. However, the lower interest rate means your returns will be modest compared to promotional offers.

When choosing between promotional and standard rates, consider your financial goals and the amount you’re willing to commit. Citibank’s options provide flexibility, but understanding the requirements is key to maximizing your returns.

CIMB Fixed Deposit Rates

CIMB provides tailored savings solutions to meet diverse financial needs. Whether you’re saving for the short term or planning long-term growth, their deposit rates are designed to offer competitive returns. With options for both Preferred and Personal Banking, you can choose the plan that aligns with your goals.

Preferred Banking Rates

Preferred Banking customers enjoy slightly higher rates offered compared to Personal Banking. For example, a 3-month tenure yields 2.20%, while a 6-month tenure offers 2.10%. This 0.05% advantage across tenures makes it a compelling choice for those who qualify.

Personal Banking Rates

Personal Banking customers still benefit from attractive rates, with 2.15% for 3-month tenures and 2.05% for 6-month tenures. The minimum deposit requirement for both tiers is S$10,000, ensuring accessibility for a wide range of savers.

Here’s a quick comparison of the key features:

• Preferred Banking: 2.20% for 3-month tenures, 2.10% for 6-month tenures.
• Personal Banking: 2.15% for 3-month tenures, 2.05% for 6-month tenures.
• Minimum deposit: S$10,000 for both tiers.

Beyond 6 months, rates drop to 1.85%-1.90%, making shorter tenures more attractive. For those seeking alternatives, CIMB also offers Islamic fixed deposit options, which follow Sharia principles.

All placements must be made online, ensuring convenience and efficiency. This requirement aligns with CIMB’s focus on digital banking solutions, making it easier for customers to manage their savings.

DBS/POSB Fixed Deposit Rates

Maximizing your returns starts with understanding the options available. DBS/POSB offers a unique approach to savings, with tiered interest rates that cater to different financial needs. Whether you’re saving for the short term or planning long-term growth, their deposit accounts provide flexibility and competitive returns.

Tiered Interest Rates

DBS/POSB’s tiered structure is designed to benefit smaller savers. For deposits between S$1,000 and S$19,999, the 12-month tenure offers an attractive rate of 2.45%. However, deposits above S$20,000 see a significant drop to just 0.05%. This inverse tiering ensures that smaller amounts receive higher returns.

Here’s a breakdown of the tenure progression:

• 3-month tenure: 1.00%
• 6-month tenure: 1.50%
• 12-month tenure: 2.45%

Senior citizens aged 55 and above enjoy an additional 0.10% bonus through the PIA scheme, bringing the effective rate to 2.55%. This makes it an excellent option for retirees looking to grow their savings.

Special Promotions

DBS/POSB also offers special promotions for new and existing customers. These include cash credits and bundle deals linked to other savings bonds or accounts. For example, opening a new account with a minimum deposit of S$1,000 can unlock additional benefits.

Here’s a quick comparison of DBS/POSB’s fixed deposit rates versus their savings account rates:

By understanding these options, you can choose the right plan to maximize your returns. Whether you’re a senior citizen or a small saver, DBS/POSB offers tailored solutions to meet your financial goals.

HSBC Fixed Deposit Rates

Choosing the right financial institution can significantly impact your savings strategy. HSBC offers tailored solutions for both high-net-worth individuals and personal banking customers. Their interest rates are competitive, especially for those who meet specific criteria.

Premier & Premier Elite Rates

HSBC’s Premier and Premier Elite customers enjoy enhanced benefits, particularly with wealth holdings. For a 3-month tenure, the interest rate is 2.00%, which is 0.40% higher than for those without wealth holdings. This tiered structure rewards larger deposits and long-term commitments.

To qualify, a minimum of S$30,000 in fresh funds is required. These funds must be placed via the HSBC Singapore app, ensuring convenience and efficiency. The promotional deadline for these rates is 31 May 2025, so timing is crucial.

Personal Banking Rates

For personal banking customers, HSBC offers a 3-month rate of 1.55%. While lower than Premier rates, it’s still a solid option for those looking to grow their cash reserves. The same minimum deposit and app-exclusive placement apply, making it accessible for a wide range of savers.

Here’s a quick comparison of HSBC’s offerings:

• Premier with wealth: 2.00% for 3 months.
• Premier without wealth: 1.60% for 3 months.
• Personal Banking: 1.55% for 3 months.

For those seeking higher yields, HSBC’s short-term focus makes it a strong contender. Always review the terms to ensure you meet the requirements and maximize your returns.

Hong Leong Finance Fixed Deposit Rates

Saving smartly requires knowing your options. Hong Leong Finance (HLF) offers flexible plans to help you grow your funds. Whether you prefer digital convenience or in-person service, their savings solutions cater to diverse needs.

HLF Digital Deposit Rates

For tech-savvy savers, HLF’s digital platform provides competitive rates. A 7-month tenure offers 2.05% for deposits of S$20,000 or more. This is 0.05% higher than branch rates, making it a great choice for those who value convenience.

HLF also offers unique tenure options like 7, 10, and 13 months. These flexible tenures allow you to choose a plan that aligns with your financial goals. Stepped rates are available for deposits between S$5,000 and S$20,000, ensuring accessibility for all savers.

New Customers Promotion

First-time customers enjoy exclusive benefits. HLF offers a rate of 1.85% plus a S$10 cash credit for new accounts. This promotion is perfect for those starting their savings journey with HLF.

Branch rates are also attractive, with up to 2.00% for certain tenures. However, digital placements remain the preferred option due to their higher rates and added bonuses. Always review the terms conditions to ensure you meet the requirements.

By choosing HLF, you can enjoy tailored plans that suit your financial needs. Whether you’re a first-time saver or a seasoned investor, their flexible options make saving easier and more rewarding.

ICBC Fixed Deposit Rates

Making informed financial decisions starts with exploring your options. ICBC offers a range of savings solutions tailored to meet diverse needs. Whether you prefer digital convenience or traditional in-person service, their rates offered are designed to maximize your returns.

E-banking Rates

For tech-savvy savers, ICBC’s e-banking platform provides competitive rates. A 3-month tenure offers 2.15%, which is higher than counter rates. The minimum deposit is just S$500, making it accessible for retail investors. This digital convenience ensures you can manage your funds efficiently from anywhere.

For larger deposits, ICBC rewards bulk savers. Deposits above S$200,000 receive an additional 0.05% bonus. This makes it an attractive option for those with significant savings. Rates remain stable across 6-12 month tenures, providing flexibility for your financial goals.

Counter Deposit Rates

If you prefer in-person service, ICBC’s counter deposits offer a rate of 2.05% for 3-month tenures. However, the minimum deposit requirement is S$20,000, making it more suitable for larger savers. While the rates are slightly lower than e-banking, the face-to-face service ensures personalized attention.

ICBC also stands out for its USD fixed deposits, offering competitive rates for foreign currency savings. This makes it a strong choice for those looking to diversify their portfolio. Always review the terms to ensure you meet the requirements and maximize your returns.

• E-banking offers 2.15% for 3-month tenures.
• Counter deposits provide 2.05% for the same tenure.
• Bulk deposits above S$200,000 receive a 0.05% bonus.
• Rates remain stable across 6-12 month tenures.
• ICBC is a strong option for USD fixed deposits.

Maybank Fixed Deposit Rates

Growing your savings efficiently starts with exploring diverse financial tools. Maybank offers tailored solutions to help you achieve your goals. Whether you prefer online convenience or bundled promotions, their options cater to a wide range of needs.

iSAVvy Online Rates

For those who value digital convenience, Maybank’s iSAVvy platform provides competitive rates. A minimum deposit amount of S$20,000 is required, offering an interest rate of 1.85%. This online option ensures easy access and efficient management of your funds.

Deposit Bundle Promotion

Maybank’s bundle promotion combines fixed deposits with savings accounts for enhanced returns. By linking a savings account with a minimum of S$2,000, you can enjoy a rate of 2.15% for a 9-month tenure. This is 0.30% higher than the standard online rate, making it a compelling choice for savers.

Here’s a quick comparison of the key features:

• Bundle Promotion: 2.15% for 9 months with linked savings account.
• iSAVvy Online: 1.85% for the same tenure without bundling.
• Islamic Alternatives: Sharia-compliant options are also available.

Maybank’s leadership in the Malay market ensures trusted and reliable services. The 9-month tenure is a sweet spot for those seeking balanced returns and flexibility. Always review the terms to maximize your savings potential.

OCBC Fixed Deposit Rates

Effective financial planning involves exploring diverse banking options. OCBC offers competitive solutions for both online and in-branch placements, catering to different financial needs. Whether you prefer digital convenience or face-to-face service, their options are designed to maximize your returns.

Online Fixed Deposit Rates

For those who value digital convenience, OCBC’s online platform provides a rate of 1.90% for a 9-month tenure. This is 0.10% higher than branch placements, making it a great choice for tech-savvy savers. The minimum deposit requirement is S$30,000, ensuring accessibility for larger investments.

When compared to the OCBC 360 account, which offers variable rates based on spending and saving habits, the online fixed deposit provides a more predictable return. This makes it ideal for those prioritizing stability in their financial management.

Branch Placement Rates

If you prefer in-person service, OCBC’s branch placements offer a rate of 1.80% for the same 9-month tenure. While slightly lower than online rates, it’s a reliable option for those who value face-to-face interactions. The minimum deposit remains consistent at S$30,000.

For longer tenures, such as 12 months, rates drop to 1.85% online and 1.75% in-branch. This highlights the importance of choosing the right tenure to maximize your returns. Family banking packages are also available, offering additional benefits for households looking to grow their savings together.

Blue Chip investors enjoy exclusive privileges, including enhanced rates and personalized services. These perks make OCBC a strong contender for high-net-worth individuals seeking tailored financial solutions.

RHB Fixed Deposit Rates

Exploring diverse banking options can help you maximize your financial growth. RHB offers tailored solutions for both personal and premier banking customers, ensuring competitive returns across various tenures. Whether you’re saving for the short term or planning long-term growth, their options cater to diverse financial needs.

Personal Banking Rates

For personal banking customers, RHB provides a consistent rate of 2.00% across tenures ranging from 3 to 12 months. This flat structure ensures predictability, making it easier to plan your savings. The minimum deposit requirement is S$20,000, ensuring accessibility for a wide range of savers.

Premier Banking Rates

Premier customers enjoy a slightly higher rate of 2.10%, also applicable across all tenures. Unlike competitors with tiered systems, RHB’s flat rate structure simplifies decision-making. This makes it a strong choice for those looking for stability and consistency in their financial planning.

RHB also offers unique cross-border options, such as MYR fixed deposits, catering to those with international financial interests. Additionally, Islamic banking alternatives are available, providing Sharia-compliant solutions for ethical savers.

It’s important to note that these rates are subject to change. Always review the latest terms to ensure you’re maximizing your returns. Whether you’re a personal or premier customer, RHB’s flexible options make it a reliable choice for your savings goals.

Standard Chartered Fixed Deposit Rates

Navigating your savings options with Standard Chartered can lead to tailored financial solutions. Their offerings stand out for their flexibility and accessibility, making them a strong choice for diverse financial goals.

Standard Rates

Standard Chartered’s standard rates are designed for simplicity and accessibility. For a 15-month tenure, you can enjoy a rate of 1.50% with no minimum deposit requirement. This makes it an attractive option for savers who prefer flexibility without committing large amounts of cash.

Compared to their Bonus$aver account, which offers variable rates based on spending and saving habits, the fixed deposit provides a more predictable return. This stability is ideal for those prioritizing consistent growth in their savings.

Promotional Rates

For Priority Banking customers, the rates are even more competitive, ranging from 1.80% to 1.90%. These promotional rates are available across all tenures, ensuring that high-net-worth individuals can maximize their returns.

Expatriates also benefit from Standard Chartered’s global presence. Their expat banking services offer seamless cross-border solutions, making it easier to manage funds across different currencies. Additionally, USD fixed deposits are available, providing opportunities for those looking to diversify their portfolio.

Here’s a quick overview of the key features:

• No minimum deposit: Unique flexibility for all savers.
• Priority Banking: Enhanced rates for high-net-worth clients.
• Expat advantages: Tailored solutions for international customers.
• USD options: Opportunities for currency diversification.

When choosing between 15-month and 12-month tenures, consider your financial goals. The longer tenure offers slightly higher returns, making it a viable option for long-term savers. Always review the terms to ensure you’re maximizing your savings potential.

Conclusion

Making the most of your savings requires careful consideration of available options. For 12-month tenures, DBS leads with a 2.45% return, while SBI offers 2.35% for 6-month plans. These fixed deposits provide stability, but exploring alternatives like SSB (2.56%) or T-Bills (2.30%) can enhance liquidity and returns.

Looking ahead, interest rates may decline post-June 2025, so locking in higher returns now is advisable. Diversifying your portfolio with a mix of FDs, SSBs, and T-Bills can balance risk and reward. Tools like StashAway Simple™ Cash (2.80%) also offer flexibility for those seeking higher yields without long-term commitments.

To get started, compare options from top banks and assess your financial goals. Most banks allow online applications, making the process quick and convenient. Take the next step today to secure your financial future.