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Photo: Depositphotos/saksitpond(for illustration purposes only)
Personal Finance
5 min.Read

Earn up to 2.50% interest: Singapore’s best fixed deposit rates this May 2025

Mary Alavanza
By Mary Alavanza

SINGAPORE: Singapore banks are now offering fixed deposit rates of up to 2.50%, making it a good time for savers to lock in their funds, with minimum deposits starting from just S$500.

May 2025 highest fixed deposit rates

  •  Syfe Cash+ Guaranteed

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  • StashAway Simple Guaranteed

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • Maybank

    • Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • State Bank of India

    • Interest Rate: 2.35% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • Bank of China

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.30% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.20% – 2.25% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.05% p.a. (online fixed deposit special)

    • Commitment Period: 7 months

    • Minimum Amount: S$20,000

  • RHB

    • Interest Rate: 2.00% – 2.10% p.a.

    • Commitment Period: 3 months or 6 months or 12 months

    • Minimum Amount: S$20,000

  • UOB

    • Interest Rate: 2.00% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • HSBC

    • Interest Rate: 2.00% p.a. (Premier and Premier Elite customers with wealth holdings)

    • Commitment Period: 3 months

    • Minimum Amount: S$30,000

  • Standard Chartered

    • Interest Rate: 1.95% – 2.05% p.a.

    • Commitment Period: 5 months

    • Minimum Amount: S$25,000

  • OCBC

    • Interest Rate: 1.90% p.a. (internet banking)

    • Commitment Period: 9 months

    • Minimum Amount: S$30,000

May 2025 best fixed deposit rates by commitment period

3-Month commitment period:

  •  Syfe Cash+ Guaranteed

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  •  StashAway Simple Guaranteed

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  • ICBC

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Bank of China

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.30% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.20% – 2.25% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • RHB

    • Interest Rate: 2.00% – 2.10% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$20,000

  • HSBC

    • Interest Rate: 1.55% p.a. (personal banking customers)

    • Commitment Period: 3 months

    • Minimum Amount: S$30,000

6-Month commitment period:

  • Maybank

    • Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Syfe Cash+ Guaranteed

    • Interest Rate: 2.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum

  • State Bank of India

    • Interest Rate: 2.35% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • StashAway Simple Guaranteed

    • Interest Rate: 2.25% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum

  • Bank of China

    • Interest Rate: 2.25% p.a.(via mobile banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.25% p.a.(via e-banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.20% p.a. (T&Cs apply)

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • DBS

    • Interest Rate: 2.15% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$1,000

  • CIMB

    • Interest Rate: 2.10% – 2.15% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • RHB

    • Interest Rate: 2.00% – 2.10% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • UOB

    • Interest Rate: 2.00% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • HSBC

    • Interest Rate: 1.50% p.a. (personal banking customers)

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

12-Month commitment period:

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • ICBC

    • Interest Rate: 2.25% p.a.(via e-banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$500

  • Maybank

    • Interest Rate: 2.25% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch)

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000

  • State Bank of India

    • Interest Rate: 2.25% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$50,000

  • Bank of China

    • Interest Rate: 2.20% p.a.(via mobile banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$500

  • Syfe Cash+ Guaranteed

    • Interest Rate: 2.15% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum

  • RHB

    • Interest Rate: 2.00% – 2.10% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000

  • StashAway Simple Guaranteed

    • Interest Rate: 2.05% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum

  • CIMB

    • Interest Rate: 1.90% – 1.95% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$10,000

  • OCBC

    • Interest Rate: 1.85% p.a. (internet banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$30,000

  • HSBC

    • Interest Rate: 1.35% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$30,000

May 2025 best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • Bank of China

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.30% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.20% – 2.25% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.00% p.a. (online fixed deposit special)

    • Commitment Period: 7 months

    • Minimum Amount: S$5,000

  • UOB

    • Interest Rate: 2.00% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

Deposits $20,000–$49,999:

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • Maybank

    • Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Bank of China

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.30% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.20% – 2.25% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.05% p.a. (online fixed deposit special)

    • Commitment Period: 7 months

    • Minimum Amount: S$20,000

  • RHB

    • Interest Rate: 2.00% – 2.10% p.a.

    • Commitment Period: 3 months or 6 months or 12 months

    • Minimum Amount: S$20,000

  • HSBC

    • Interest Rate: 2.00% p.a. (Premier and Premier Elite customers with wealth holdings)

    • Commitment Period: 3 months

    • Minimum Amount: S$30,000

  • Standard Chartered

    • Interest Rate: 1.95% – 2.05% p.a.

    • Commitment Period: 5 months

    • Minimum Amount: S$25,000

  • OCBC

    • Interest Rate: 1.90% p.a. (internet banking)

    • Commitment Period: 9 months

    • Minimum Amount: S$30,000

Deposits $50,000 and above:

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • Maybank

    • Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • State Bank of India

    • Interest Rate: 2.35% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • Bank of China

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

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

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.30% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.20% – 2.25% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.05% p.a. (online fixed deposit special)

    • Commitment Period: 7 months

    • Minimum Amount: S$20,000

  • RHB

    • Interest Rate: 2.00% – 2.10% p.a.

    • Commitment Period: 3 months or 6 months or 12 months

    • Minimum Amount: S$20,000

  • HSBC

    • Interest Rate: 2.00% p.a. (Premier and Premier Elite customers with wealth holdings)

    • Commitment Period: 3 months

    • Minimum Amount: S$30,000

/TISG

Read also: Earn up to 2.90% interest: Singapore’s best-fixed deposit rates this April 2025

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)

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