facebookWhich banks now have the best FD rates? - Seedly

Anonymous

02 Apr 2020

General Investing

Which banks now have the best FD rates?

Which banks have the best rates? Should i be considering Fixed Deposits? What are some cons of such an investment?

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Samuel Yap

01 Apr 2020

Software Engineer at Seedly

The highest fixed deposit interest rates in Singapore (Mar 2020)

Maybank

Minimum Deposit Amount: $50,001

Tenure: 24 months

Promotional Interest Rates: 1.75% p.a. (online iSAVvy)

ICBC

Minimum Deposit Amount: $20,000

Tenure: 12 months

Promotional Interest Rates: 1.70% p.a. 

ICBC

Minimum Deposit Amount: $20,000

Tenure: 3, 6 or 9 months

Promotional Interest Rates: 1.65% p.a.

ICBC

Minimum Deposit Amount: $500

Tenure: 12 months

Promotional Interest Rates: 1.60% p.a. 

Maybank

Minimum Deposit Amount: $20,000

Tenure: 12 months

Promotional Interest Rates: 1.60% p.a. (with $2,000 deposit in current/savings account)

ICBC

Minimum Deposit Amount: $500

Tenure: 3, 6 or 9 months

Promotional Interest Rates: 1.55% p.a.

Hong Leong Finance

Minimum Deposit Amount: $20,000

Tenure: 10 months

Promotional Interest Rates: 1.52% p.a.

CIMB

Minimum Deposit Amount: $10,000

Tenure: 3, 6 or 12 months

Promotional Interest Rates: 1.50% p.a. (online only, expires 31 Mar)

UOB

Minimum Deposit Amount: $20,000

Tenure: 10 months

Promotional Interest Rates: 1.50% p.a. (expires 31 Mar) 

OCBC

Minimum Deposit Amount: $20,000

Tenure: 12 months

Promotional Interest Rates: 1.48% p.a.

HSBC

Minimum Deposit Amount: $30,000

Tenure: 6 months

Promotional Interest Rates: 1.45% p.a. (expires 31 Mar) 

Standard Chartered

Minimum Deposit Amount: $25,000

Tenure: 9 months

Promotional Interest Rates: 1.45% p.a. (expires 29 Feb)

Source: https://blog.moneysmart.sg/fixed-deposits/best-...​​​

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