SINGAPORE: If you’re looking for banks offering fixed deposit rates worth considering this July, these are the best fixed deposit rates in Singapore, according to MoneySmart.

July 2024 Highest Fixed Deposit Rates

Syfe Cash+ Guaranteed
- Interest Rate: 3.80% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
StashAway Simple Guaranteed
- Interest Rate: 3.70% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
State Bank of India
- Interest Rate: 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000
ICBC
- Interest Rate: 3.40% p.a. (via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
Bank of China
- Interest Rate: 3.50% p.a. (via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
CIMB
- Interest Rate: 3.35 – 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000
RHB
- Interest Rate: 3.25 – 3.30% p.a.
- Commitment Period: 3 months or 6 months or 12 months
- Minimum Amount: S$20,000
HSBC
- Interest Rate: 3.25% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$30,000

July 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

Syfe Cash+ Guaranteed
- Interest Rate: 3.80% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
StashAway Simple Guaranteed
- Interest Rate: 3.70% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
ICBC
- Interest Rate: 3.40% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
Bank of China
- Interest Rate: 3.50% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
CIMB
- Interest Rate: 3.25 – 3.30% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$10,000
HSBC
- Interest Rate: 3.20% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$30,000
Hong Leong Finance
- Interest Rate: 2.90% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$50,000
Citibank
- Interest Rate: 2.50% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$50,000

6-Month commitment period:

Syfe Cash+ Guaranteed
- Interest Rate: 3.60% p.a.
- Commitment Period: 6 months
- Minimum Amount: No minimum
StashAway Simple Guaranteed
- Interest Rate: 3.50% p.a.
- Commitment Period: 6 months
- Minimum Amount: No minimum
Bank of China
- Interest Rate: 3.30% p.a.(via mobile banking)
- Commitment Period: 6 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 3.15% p.a.(via e-banking)
- Commitment Period: 6 months
- Minimum Amount: S$500
CIMB
- Interest Rate: 3.35 – 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000
RHB
- Interest Rate: 3.25 – 3.30% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$20,000
Standard Chartered
- Interest Rate: 2.90 – 3.10% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$25,000
OCBC
- Interest Rate: 2.60% p.a.(internet banking)
- Commitment Period: 6 months
- Minimum Amount: S$30,000
State Bank of India
- Interest Rate: 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000

12-Month commitment period:

Syfe Cash+ Guaranteed
- Interest Rate: 3.50% p.a.
- Commitment Period: 12 months
- Minimum Amount: No minimum
StashAway Simple Guaranteed
- Interest Rate: 3.30% p.a.
- Commitment Period: 12 months
- Minimum Amount: No minimum
Bank of China
- Interest Rate: 3.05% p.a.(via mobile banking)
- Commitment Period: 12 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 3.05% p.a.(via e-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: 3.25 – 3.30% 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
OCBC
- Interest Rate: 2.90% p.a.(internet banking)
- Commitment Period: 6 months
- Minimum Amount: S$30,000
State Bank of India
- Interest Rate: 3.20% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$50,000

July 2024 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

CIMB
- Interest Rate: 3.35 – 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000
Bank of China
- Interest Rate: 3.50% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 3.40% 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: 2.70% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000

Deposits $20,000–$49,999:

CIMB
- Interest Rate: 3.35 – 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000
Bank of China
- Interest Rate: 3.50% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 3.40% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
RHB
- Interest Rate: 3.25 – 3.30% p.a.
- Commitment Period: 3 months or 6 months or 12 months
- Minimum Amount: S$20,000
Standard Chartered
- Interest Rate: 2.90 – 3.10% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$25,000
OCBC
- Interest Rate: 2.90% p.a.(internet banking)
- Commitment Period: 6 months or 12 months
- Minimum Amount: S$30,000

Deposits $50,000 and above:

State Bank of India
- Interest Rate: 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000
CIMB
- Interest Rate: 3.35 – 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000
Citibank
- Interest Rate: 2.50% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$50,000
HSBC
- Interest Rate: 3.25% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$30,000
Bank of China
- Interest Rate: 3.50% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 3.40% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
RHB
- Interest Rate: 3.25 – 3.30% p.a.
- Commitment Period: 3 months or 6 months or 12 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: 2.90% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$50,000

Maximise your savings this month!

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

Featured image by Depositphotos

Best fixed deposit rates in Singapore for July 2024

ByMary Alavanza

July 2024 Highest Fixed Deposit Rates

July 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

6-Month commitment period:

12-Month commitment period:

July 2024 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

Deposits $20,000–$49,999:

Deposits $50,000 and above:

ByMary Alavanza

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