Coins pouring from watering can.

SINGAPORE: Fixed deposits are typically associated with stability and predictability while providing financial growth.

Although Singapore is feeling the heat this summer and bracing for a hotter year, you can chill as your money grows with fixed deposits starting at S$500.

Check out the best-fixed deposit rates for April 2024 in Singapore, as per MoneySmart.

April 2024 Highest Fixed Deposit Rates

The highest fixed deposit rates include:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.80% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.75% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • Bank of China
    • Interest Rate: 3.35% p.a. (via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.35% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • HSBC
    • Interest Rate: 3.25% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$100,000
  • CIMB
    • Interest Rate: 3.25-3.30% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: S$10,000
  • State Bank of India
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$50,000
  • RHB
    • Interest Rate: 3.15-3.20% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$20,000

April 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

For a 3-month commitment period, consider:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.80% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.75% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • Citibank
    • Interest Rate: 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$50,000
  • HSBC
    • Interest Rate: 3.25% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$100,000
  • Bank of China
    • Interest Rate: 3.35% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.35% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
See also  What Can You Invest in Under the CPF Investment Scheme?

6-Month commitment period:

For a 6-month commitment period, consider:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.80% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.60% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: No minimum
  • Bank of China
    • Interest Rate: 3.20% p.a.(via mobile banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$500
  • CIMB
    • Interest Rate: 3.25-3.30% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$10,000
  • RHB
    • Interest Rate: 3.15-3.20% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$20,000
  • Standard Chartered
    • Interest Rate: 3.00-3.20% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$25,000
  • OCBC
    • Interest Rate: 2.90% p.a.(internet banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$30,000

12-Month commitment period:

For a 12-month commitment period, consider:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.50% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.50% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: No minimum
  • Bank of China
    • Interest Rate: 3.10% p.a.(via mobile banking)
    • Commitment Period: 12 months
    • Minimum Amount: S$500
  • CIMB
    • Interest Rate: 2.95-3.00% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$10,000
  • RHB
    • Interest Rate: 3.00-3.05% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$20,000
  • Maybank
    • Interest Rate: 2.60% p.a.(online placement)
    • Commitment Period: 12 months
    • Minimum Amount: S$20,000
See also  How to Build Passive Income in Singapore—Here are the Top Methods for 2023

April 2024 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

For deposits $10,000 and under, check out:

  • CIMB
    • Interest Rate: 3.25-3.30% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: S$10,000
  • Bank of China
    • Interest Rate: 3.35% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.35% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • DBS
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$1,000
  • UOB
    • Interest Rate: 2.80% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$10,000

Deposits $20,000–$49,999:

For deposits $20,000–$49,999, check out:

  • CIMB
    • Interest Rate: 3.25-3.30% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: S$10,000
  • Bank of China
    • Interest Rate: 3.35% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.35% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • RHB
    • Interest Rate: 3.15-3.20% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$20,000
  • Standard Chartered
    • Interest Rate: 3.00-3.20% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$25,000
See also  4 Singapore stocks with either "low debt or zero debt" in 2024 

Deposits $50,000 and above:

For deposits $50,000 and above, check out:

  • State Bank of India
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$50,000
  • CIMB
    • Interest Rate: 3.25-3.30% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: S$10,000
  • Citibank
    • Interest Rate: 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$50,000
  • HSBC
    • Interest Rate: 3.25% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$100,000
  • Bank of China
    • Interest Rate: 3.35% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.35% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • RHB
    • Interest Rate: 3.15-3.20% p.a.
    • Commitment Period: 6 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: 2.95% p.a.
    • Commitment Period: 3 months or 4 months
    • Minimum Amount: S$50,000

Find your best fixed deposit rate, and relax as your money grows! /TISG

Read also: Best fixed deposit rates for March 2024 in Singapore

Featured image by Depositphotos