On general, it had been an uptrend and will continue to maintain or go up in the next 12 months based on current economic health and news.
But of course this might change time to time, cant say for sure next 12 months sure increase, but at least from current view, it would most likely on a rising trend for interests rate. But rising interests rate doesn't mean SGD fixed deposit rate will increase.
The reason being some Banks do not want to have extra funds have many reasons. For example, DBS is not offering attractive FD rates because they already have the largest deposits in Singapore compared to other Bank. Other Bank in comparison need to offer alot more attractive FD to get funding (deposits) for their other Banking needs and maintain a certain ratio % mandate by the central bank.
On general, it had been an uptrend and will continue to maintain or go up in the next 12 months based on current economic health and news.
But of course this might change time to time, cant say for sure next 12 months sure increase, but at least from current view, it would most likely on a rising trend for interests rate. But rising interests rate doesn't mean SGD fixed deposit rate will increase.
The reason being some Banks do not want to have extra funds have many reasons. For example, DBS is not offering attractive FD rates because they already have the largest deposits in Singapore compared to other Bank. Other Bank in comparison need to offer alot more attractive FD to get funding (deposits) for their other Banking needs and maintain a certain ratio % mandate by the central bank.