SINGAPORE: Explore the best fixed deposit rates in Singapore for Jan 2024, as recommended by MoneySmart.

Discover top picks, minimum deposits, and potential gains to help you make informed investment decisions.

Highest Fixed Deposit Rates

For the highest fixed deposit rates, check out:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.80% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.80% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • RHB
    • Interest Rate: 3.40% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$20,000
  • State Bank of India
    • Interest Rate: 3.65% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$50,000
  • HSBC
    • Interest Rate: 3.65% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$200,000
  • CIMB
    • Interest Rate: 3.50% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$10,000
  • Bank of China
    • Interest Rate: 3.60% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$5,000
  • ICBC
    • Interest Rate: Up to 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$500

Best fixed deposit rates by commitment period

3-Month commitment period:

Top picks for a 3-month commitment:

  • Syfe:
    • Interest Rate: 3.80% p.a.
    • Minimum Deposit: No minimum
  • StashAway:
    • Interest Rate: 3.80% p.a.
    • Minimum Deposit: No minimum
  • HSBC:
    • Interest Rate: 3.65% p.a.
    • Minimum Deposit: S$200,000
  • ICBC:
    • Interest Rate: 3.35% p.a.
    • Minimum Deposit: S$500
  • Bank of China:
    • Interest Rate: 3.60% p.a.
    • Minimum Deposit: S$5,000
  • Citibank:
    • Interest Rate: 3.50% p.a.
    • Minimum Deposit: S$50,000
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6-Month commitment period:

Top picks for a 6-month commitment:

  • Syfe:
    • Interest Rate: 3.60% p.a.
    • Minimum Deposit: No minimum
  • StashAway:
    • Interest Rate: 3.60% p.a.
    • Minimum Deposit: No minimum
  • Bank of China:
    • Interest Rate: 3.45% p.a.
    • Minimum Deposit: S$5,000
  • CIMB:
    • Interest Rate: 3.50-3.55% p.a.
    • Minimum Deposit: S$10,000
  • RHB:
    • Interest Rate: 3.40-3.45% p.a.
    • Minimum Deposit: S$20,000
  • Standard Chartered:
    • Interest Rate: 3.10% p.a.
    • Minimum Deposit: S$25,000
  • OCBC:
    • Interest Rate: 3.10% p.a.
    • Minimum Deposit: S$30,000

12-Month commitment period:

Top picks for a 12-month commitment:

  • Syfe:
    • Interest Rate: 3.50% p.a.
    • Minimum Deposit: No minimum
  • StashAway:
    • Interest Rate: 3.30% p.a.
    • Minimum Deposit: No minimum
  • Bank of China:
    • Interest Rate: 3.30% p.a.
    • Minimum Deposit: S$5,000
  • CIMB:
    • Interest Rate: 3.15-3.20% p.a.
    • Minimum Deposit: S$10,000
  • RHB:
    • Interest Rate: 3.30-3.35% p.a.
    • Minimum Deposit: S$20,000
  • Maybank:
    • Interest Rate: 2.65% p.a.
    • Minimum Deposit: S$20,000

Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

  • CIMB:
    • Interest Rate: 3.50% p.a.
    • Minimum Deposit: $10,000 for 6 months
  • Bank of China:
    • Interest Rate: 3.60% p.a.
    • Minimum Deposit: $5,000 for 3 months
  • ICBC:
    • Interest Rate: 3.35% p.a.
    • Minimum Deposit: $500 for 3 months
  • DBS:
    • Interest Rate: 3.20% p.a.
    • Minimum Deposit: $1,000 for 12 months
  • UOB:
    • Interest Rate: 3.10% p.a.
    • Minimum Deposit: $10,000 for 6, 10, or 12 months
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Deposits $20,000–$49,999:

  • RHB:
    • Interest Rate: 3.40% p.a.
    • Minimum Deposit: $20,000 for 6 months
  • CIMB:
    • Interest Rate: 3.50% p.a.
    • Minimum Deposit: $10,000 for 6 months
  • Bank of China:
    • Interest Rate: 3.60% p.a.
    • Minimum Deposit: $5,000 for 3 months
  • ICBC:
    • Interest Rate: 3.35% p.a.
    • Minimum Deposit: $500 for 3 months
  • Standard Chartered:
    • Interest Rate: 3.10% p.a.
    • Minimum Deposit: $25,000 for 6 months

Deposits $50,000 and Above:

  • RHB:
    • Interest Rate: 3.40% p.a.
    • Minimum Deposit: $20,000 for 6 months
  • CIMB:
    • Interest Rate: 3.50% p.a.
    • Minimum Deposit: $10,000 for 9 months
  • State Bank of India:
    • Interest Rate: 3.65% p.a.
    • Minimum Deposit: $50,000 for 6 months
  • HSBC:
    • Interest Rate: 3.65% p.a.
    • Minimum Deposit: $200,000 for 3 months
  • Bank of China:
    • Interest Rate: 3.60% p.a.
    • Minimum Deposit: $5,000 for 3 months
  • ICBC:
    • Interest Rate: 3.35% p.a.
    • Minimum Deposit: $500 for 3 months
  • DBS:
    • Interest Rate: 3.20% p.a.
    • Minimum Deposit: $1,000 for 12 months
  • Citibank:
    • Interest Rate: 3.50% p.a.
    • Minimum Deposit: $50,000 for 3 months
  • Hong Leong Finance:
    • Interest Rate: 2.95% p.a.
    • Minimum Deposit: $50,000 for 5 or 12 months
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Regularly check in on your financial goals and tweak your strategy.

Stay sharp for market updates, new promos, and interest rate shifts to maximise your investments.

Happy investing! /TISG

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