Up to 3.45% interest rate! Best fixed deposit rates in Singapore for Oct 2024

SINGAPORE: Boost your savings this month with higher fixed deposit interest rates.

Here are some banks offering competitive rates in October 2024, according to MoneySmart.

Oct 2024 Highest Fixed Deposit Rates

• Maybank

  • Interest Rate: 3.45% p.a.(branch placement)

  • Commitment Period: 6 months

  • Minimum Amount: S$20,000

•  StashAway Simple Guaranteed

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: No minimum

•  Syfe Cash+ Guaranteed

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: No minimum

• DBS

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$1,000

• Bank of China

  • Interest Rate: 3.00% p.a. (via mobile banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• HSBC

  • Interest Rate: 3.00% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$100,000

• State Bank of India

  • Interest Rate: 2.90% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$50,000

• Hong Leong Finance

  • Interest Rate: 2.80% p.a.

  • Commitment Period: 6 months or 7 months

  • Minimum Amount: S$50,000

• CIMB

  • Interest Rate: 2.75 – 2.80% p.a.

  • Commitment Period: 3 months or 6 months

  • Minimum Amount: S$10,000

• ICBC

  • Interest Rate: 2.65% p.a. (via e-banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• RHB

  • Interest Rate: 2.70 – 2.75% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: S$20,000

• OCBC

  • Interest Rate: 2.60% p.a.(internet banking)

  • Commitment Period: 6 months

  • Minimum Amount: S$30,000

• Standard Chartered

  • Interest Rate: 2.60 – 2.80% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: S$25,000

Oct 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

•  StashAway Simple Guaranteed

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: No minimum

•  Syfe Cash+ Guaranteed

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: No minimum

• Bank of China

  • Interest Rate: 3.00% p.a.(via mobile banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• CIMB

  • Interest Rate: 2.75 – 2.80% p.a.

  • Commitment Period: 3 month

  • Minimum Amount: S$10,000

• ICBC

  • Interest Rate: 2.65% p.a.(via e-banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• RHB

  • Interest Rate: 2.70 – 2.75% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: S$20,000

• Citibank

  • Interest Rate: 2.45% p.a.

  • Commitment Period: 3 months or 6 months

  • Minimum Amount: S$50,000

6-Month commitment period:

• Syfe Cash+ Guaranteed

  • Interest Rate: 3.00% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: No minimum

• StashAway Simple Guaranteed

  • Interest Rate: 3.00% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: No minimum

• Bank of China

  • Interest Rate: 2.80% p.a.(via mobile banking)

  • Commitment Period: 6 months

  • Minimum Amount: S$500

• ICBC

  • Interest Rate: 2.45% p.a.(via e-banking)

  • Commitment Period: 6 months

  • Minimum Amount: S$500

• CIMB

  • Interest Rate: 2.75 – 2.80% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$10,000

• Maybank

  • Interest Rate: 3.45% p.a.(branch placement)

  • Commitment Period: 6 months

  • Minimum Amount: S$20,000

• RHB

  • Interest Rate: 2.60 – 2.65% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$20,000

• OCBC

  • Interest Rate: 2.60% p.a.(internet banking)

  • Commitment Period: 6 months

  • Minimum Amount: S$30,000

• State Bank of India

  • Interest Rate: 2.90% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$50,000

12-Month commitment period:

• Syfe Cash+ Guaranteed

  • Interest Rate: 2.80% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: No minimum

• StashAway Simple Guaranteed

  • Interest Rate: 2.80% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: No minimum

• Bank of China

  • Interest Rate: 2.70% p.a.(via mobile banking)

  • Commitment Period: 12 months

  • Minimum Amount: S$500

• ICBC

  • Interest Rate: 2.30% p.a.(via e-banking)

  • Commitment Period: 12 months

  • Minimum Amount: S$500

• CIMB

  • Interest Rate: 2.55 – 2.60% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$10,000

• Maybank

  • Interest Rate: 2.95% p.a.(branch placement)

  • Commitment Period: 12 months

  • Minimum Amount: S$20,000

• RHB

  • Interest Rate: 2.50 – 2.55% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$20,000

• OCBC

  • Interest Rate: 2.40% p.a.(internet banking)

  • Commitment Period: 12 months

  • Minimum Amount: S$30,000

• State Bank of India

  • Interest Rate: 2.50% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$50,000

Oct 2024 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

• DBS

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$1,000

• Bank of China

  • Interest Rate: 3.00% p.a.(via mobile banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• ICBC

  • Interest Rate: 2.65% p.a.(via e-banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• Hong Leong Finance

  • Interest Rate: 2.70% p.a.

  • Commitment Period: 6 months or 7 months

  • Minimum Amount: S$5,000

• CIMB

  • Interest Rate: 2.75 – 2.80% p.a.

  • Commitment Period: 3 months or 6 months

  • Minimum Amount: S$10,000

• UOB

  • Interest Rate: 2.70% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$10,000

Deposits $20,000–$49,999:

• DBS

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$1,000

• Maybank

  • Interest Rate: 3.45% p.a.(branch placement)

  • Commitment Period: 6 months

  • Minimum Amount: S$20,000

• Bank of China

  • Interest Rate: 3.00% p.a.(via mobile banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• ICBC

  • Interest Rate: 2.65% p.a.(via e-banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• HSBC

  • Interest Rate: 3.00% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$100,000

• CIMB

  • Interest Rate: 2.75 – 2.80% p.a.

  • Commitment Period: 3 months or 6 months

  • Minimum Amount: S$10,000

• RHB

  • Interest Rate: 2.70 – 2.75% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: S$20,000

• Standard Chartered

  • Interest Rate: 2.60 – 2.80% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: S$25,000

• OCBC

  • Interest Rate: 2.60% p.a.(internet banking)

  • Commitment Period: 6 months

  • Minimum Amount: S$30,000

• Hong Leong Finance

  • Interest Rate: 2.75% p.a.

  • Commitment Period: 6 months or 7 months

  • Minimum Amount: S$20,000

Deposits $50,000 and above:

• State Bank of India

  • Interest Rate: 2.90% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$50,000

• CIMB

  • Interest Rate: 2.75 – 2.80% p.a.

  • Commitment Period: 3 months or 6 months

  • Minimum Amount: S$10,000

• Citibank

  • Interest Rate: 2.45% p.a.

  • Commitment Period: 3 months or 6 months

  • Minimum Amount: S$50,000

• HSBC

  • Interest Rate: 3.00% p.a.

  • Commitment Period: 6 months

  • Minimum Amount: S$100,000

• Bank of China

  • Interest Rate: 3.00% p.a.(via mobile banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• ICBC

  • Interest Rate: 2.65% p.a.(via e-banking)

  • Commitment Period: 3 months

  • Minimum Amount: S$500

• RHB

  • Interest Rate: 2.70 – 2.75% p.a.

  • Commitment Period: 3 months

  • Minimum Amount: S$20,000

• DBS

  • Interest Rate: 3.20% p.a.

  • Commitment Period: 12 months

  • Minimum Amount: S$1,000

• Hong Leong Finance

  • Interest Rate: 2.80% p.a.

  • Commitment Period: 6 months or 7 months

  • Minimum Amount: S$50,000

Read also: Earn up to 3.30% interest this Sept! Best fixed deposit rates in Singapore for Sept 2024

Disclaimer: Rates are promotional and subject to change. For the most current rates, visit the respective bank websites

Featured image by Depositphotos (for illustration purposes only)