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
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Maybank
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Interest Rate: 3.45% p.a.(branch placement)
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Commitment Period: 6 months
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Minimum Amount: S$20,000
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StashAway Simple Guaranteed
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Interest Rate: 3.20% p.a.
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Commitment Period: 3 months
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Minimum Amount: No minimum
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Syfe Cash+ Guaranteed
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Interest Rate: 3.20% p.a.
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Commitment Period: 3 months
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Minimum Amount: No minimum
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DBS
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Interest Rate: 3.20% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$1,000
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Bank of China
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Interest Rate: 3.00% p.a. (via mobile banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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HSBC
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Interest Rate: 3.00% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$100,000
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State Bank of India
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Interest Rate: 2.90% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$50,000
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Hong Leong Finance
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Interest Rate: 2.80% p.a.
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Commitment Period: 6 months or 7 months
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Minimum Amount: S$50,000
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CIMB
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Interest Rate: 2.75 – 2.80% p.a.
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Commitment Period: 3 months or 6 months
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Minimum Amount: S$10,000
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ICBC
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Interest Rate: 2.65% p.a. (via e-banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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RHB
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Interest Rate: 2.70 – 2.75% p.a.
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Commitment Period: 3 months
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Minimum Amount: S$20,000
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OCBC
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Interest Rate: 2.60% p.a.(internet banking)
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Commitment Period: 6 months
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Minimum Amount: S$30,000
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Standard Chartered
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Interest Rate: 2.60 – 2.80% p.a.
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Commitment Period: 3 months
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Minimum Amount: S$25,000
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Oct 2024 Best fixed deposit rates by commitment period
3-Month commitment period:
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StashAway Simple Guaranteed
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Interest Rate: 3.20% p.a.
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Commitment Period: 3 months
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Minimum Amount: No minimum
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Syfe Cash+ Guaranteed
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Interest Rate: 3.20% p.a.
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Commitment Period: 3 months
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Minimum Amount: No minimum
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Bank of China
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Interest Rate: 3.00% p.a.(via mobile banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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CIMB
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Interest Rate: 2.75 – 2.80% p.a.
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Commitment Period: 3 month
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Minimum Amount: S$10,000
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ICBC
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Interest Rate: 2.65% p.a.(via e-banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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RHB
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Interest Rate: 2.70 – 2.75% p.a.
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Commitment Period: 3 months
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Minimum Amount: S$20,000
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Citibank
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Interest Rate: 2.45% p.a.
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Commitment Period: 3 months or 6 months
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Minimum Amount: S$50,000
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6-Month commitment period:
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Syfe Cash+ Guaranteed
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Interest Rate: 3.00% p.a.
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Commitment Period: 6 months
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Minimum Amount: No minimum
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StashAway Simple Guaranteed
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Interest Rate: 3.00% p.a.
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Commitment Period: 6 months
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Minimum Amount: No minimum
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Bank of China
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Interest Rate: 2.80% p.a.(via mobile banking)
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Commitment Period: 6 months
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Minimum Amount: S$500
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ICBC
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Interest Rate: 2.45% p.a.(via e-banking)
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Commitment Period: 6 months
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Minimum Amount: S$500
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CIMB
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Interest Rate: 2.75 – 2.80% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$10,000
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Maybank
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Interest Rate: 3.45% p.a.(branch placement)
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Commitment Period: 6 months
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Minimum Amount: S$20,000
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RHB
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Interest Rate: 2.60 – 2.65% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$20,000
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OCBC
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Interest Rate: 2.60% p.a.(internet banking)
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Commitment Period: 6 months
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Minimum Amount: S$30,000
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State Bank of India
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Interest Rate: 2.90% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$50,000
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12-Month commitment period:
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Syfe Cash+ Guaranteed
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Interest Rate: 2.80% p.a.
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Commitment Period: 12 months
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Minimum Amount: No minimum
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StashAway Simple Guaranteed
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Interest Rate: 2.80% p.a.
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Commitment Period: 12 months
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Minimum Amount: No minimum
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Bank of China
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Interest Rate: 2.70% p.a.(via mobile banking)
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Commitment Period: 12 months
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Minimum Amount: S$500
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ICBC
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Interest Rate: 2.30% p.a.(via e-banking)
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Commitment Period: 12 months
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Minimum Amount: S$500
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CIMB
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Interest Rate: 2.55 – 2.60% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$10,000
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Maybank
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Interest Rate: 2.95% p.a.(branch placement)
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Commitment Period: 12 months
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Minimum Amount: S$20,000
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RHB
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Interest Rate: 2.50 – 2.55% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$20,000
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OCBC
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Interest Rate: 2.40% p.a.(internet banking)
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Commitment Period: 12 months
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Minimum Amount: S$30,000
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State Bank of India
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Interest Rate: 2.50% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$50,000
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Oct 2024 Best fixed deposit rates by minimum deposit
Deposits $10,000 and under:
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DBS
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Interest Rate: 3.20% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$1,000
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Bank of China
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Interest Rate: 3.00% p.a.(via mobile banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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ICBC
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Interest Rate: 2.65% p.a.(via e-banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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Hong Leong Finance
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Interest Rate: 2.70% p.a.
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Commitment Period: 6 months or 7 months
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Minimum Amount: S$5,000
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CIMB
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Interest Rate: 2.75 – 2.80% p.a.
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Commitment Period: 3 months or 6 months
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Minimum Amount: S$10,000
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UOB
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Interest Rate: 2.70% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$10,000
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Deposits $20,000–$49,999:
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DBS
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Interest Rate: 3.20% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$1,000
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Maybank
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Interest Rate: 3.45% p.a.(branch placement)
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Commitment Period: 6 months
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Minimum Amount: S$20,000
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Bank of China
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Interest Rate: 3.00% p.a.(via mobile banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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ICBC
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Interest Rate: 2.65% p.a.(via e-banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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HSBC
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Interest Rate: 3.00% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$100,000
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CIMB
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Interest Rate: 2.75 – 2.80% p.a.
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Commitment Period: 3 months or 6 months
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Minimum Amount: S$10,000
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RHB
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Interest Rate: 2.70 – 2.75% p.a.
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Commitment Period: 3 months
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Minimum Amount: S$20,000
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Standard Chartered
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Interest Rate: 2.60 – 2.80% p.a.
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Commitment Period: 3 months
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Minimum Amount: S$25,000
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OCBC
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Interest Rate: 2.60% p.a.(internet banking)
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Commitment Period: 6 months
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Minimum Amount: S$30,000
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Hong Leong Finance
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Interest Rate: 2.75% p.a.
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Commitment Period: 6 months or 7 months
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Minimum Amount: S$20,000
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Deposits $50,000 and above:
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State Bank of India
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Interest Rate: 2.90% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$50,000
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CIMB
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Interest Rate: 2.75 – 2.80% p.a.
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Commitment Period: 3 months or 6 months
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Minimum Amount: S$10,000
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Citibank
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Interest Rate: 2.45% p.a.
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Commitment Period: 3 months or 6 months
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Minimum Amount: S$50,000
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HSBC
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Interest Rate: 3.00% p.a.
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Commitment Period: 6 months
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Minimum Amount: S$100,000
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Bank of China
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Interest Rate: 3.00% p.a.(via mobile banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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ICBC
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Interest Rate: 2.65% p.a.(via e-banking)
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Commitment Period: 3 months
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Minimum Amount: S$500
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RHB
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Interest Rate: 2.70 – 2.75% p.a.
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Commitment Period: 3 months
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Minimum Amount: S$20,000
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DBS
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Interest Rate: 3.20% p.a.
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Commitment Period: 12 months
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Minimum Amount: S$1,000
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Hong Leong Finance
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Interest Rate: 2.80% p.a.
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Commitment Period: 6 months or 7 months
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Minimum Amount: S$50,000
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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)