The Independent Logo
Menu
SG News
Earn up to 2.90% interest: Singapore’s best-fixed deposit rates this April 2025

Photo: Depositphotos/ lovelyday12 (for illustration purposes only)

Personal Finance

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

Author AvatarMary Alavanza
|April 12, 2025

SINGAPORE: Amid this year’s market volatility, largely brought by trade wars, fixed deposits offer a steady way to grow your savings—start from just S$500 and earn up to 2.90% interest, all while keeping your money safe.

April 2025 Highest Fixed Deposit Rates

  • Maybank

    • Interest Rate: 2.90% p.a. (branch placement)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Bank of China

    • Interest Rate: 2.50% p.a. (via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • State Bank of India

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  •  Syfe Cash+ Guaranteed

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  •  StashAway Simple Guaranteed

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 1 month

    • Minimum Amount: No minimum

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • ICBC

    • Interest Rate: 2.45% p.a. (via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$200,000

  • CIMB

    • Interest Rate: 2.30 – 2.35% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.30% p.a. (online fixed deposit special)

    • Commitment Period: 9 months or 10 months

    • Minimum Amount: S$20,000

  • RHB

    • Interest Rate: 2.20 – 2.30% p.a.

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$20,000

  • Citibank

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

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$50,000

  • OCBC

    • Interest Rate: 2.15% p.a. (internet banking)

    • Commitment Period: 9 months

    • Minimum Amount: S$30,000

  • Standard Chartered

    • Interest Rate: 2.10 – 2.20% p.a.

    • Commitment Period: 5 months

    • Minimum Amount: S$25,000

  • UOB

    • Interest Rate: 2.10% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • HSBC

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

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$30,000

April 2025 Best fixed deposit rates by commitment period

3-Month commitment period:

  • Bank of China

    • Interest Rate: 2.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  •  Syfe Cash+ Guaranteed

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  •  StashAway Simple Guaranteed

    • Interest Rate: 2.40% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  • ICBC

    • Interest Rate: 2.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.30 – 2.35% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • RHB

    • Interest Rate: 2.20 – 2.30% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$20,000

  • Citibank

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

    • Commitment Period: 3 months

    • Minimum Amount: S$50,000

  • HSBC

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

    • Commitment Period: 3 months

    • Minimum Amount: S$30,000

6-Month commitment period:

  • Maybank

    • Interest Rate: 2.90% p.a. (branch placement)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • State Bank of India

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • Bank of China

    • Interest Rate: 2.45% p.a.(via mobile banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$500

  • Syfe Cash+ Guaranteed

    • Interest Rate: 2.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum

  • StashAway Simple Guaranteed

    • Interest Rate: 2.30% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum

  • ICBC

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

    • Commitment Period: 6 months

    • Minimum Amount: S$500

  • RHB

    • Interest Rate: 2.20 – 2.30% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Citibank

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

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • CIMB

    • Interest Rate: 2.15– 2.20% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • UOB

    • Interest Rate: 2.10% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • HSBC

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

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

12-Month commitment period:

  • Maybank

    • Interest Rate: 2.70% p.a. (branch placement)

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • State Bank of India

    • Interest Rate: 2.40% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$50,000

  • Bank of China

    • Interest Rate: 2.40% p.a.(via mobile banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$500

  • ICBC

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

    • Commitment Period: 12 months

    • Minimum Amount: S$500

  • StashAway Simple Guaranteed

    • Interest Rate: 2.20% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum

  • RHB

    • Interest Rate: 2.10 – 2.20% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000

  • OCBC

    • Interest Rate: 2.10% p.a. (internet banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$30,000

  • Syfe Cash+ Guaranteed

    • Interest Rate: 2.05% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum

  • CIMB

    • Interest Rate: 2.00 – 2.05% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$10,000

  • HSBC

    • Interest Rate: 1.80% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$30,000

April 2025 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

  • Bank of China

    • Interest Rate: 2.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • ICBC

    • Interest Rate: 2.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.30 – 2.35% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.25% p.a. (online fixed deposit special)

    • Commitment Period: 9 months or 10 months

    • Minimum Amount: S$5,000

  • UOB

    • Interest Rate: 2.10% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

Deposits $20,000–$49,999:

  • Maybank

    • Interest Rate: 2.90% p.a. (branch placement)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Bank of China

    • Interest Rate: 2.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.30 – 2.35% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.30% p.a. (online fixed deposit special)

    • Commitment Period: 9 months or 10 months

    • Minimum Amount: S$20,000

  • HSBC

    • Interest Rate: 2.30% p.a. (Premier and Premier Elite customers with investment holdings)

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$30,000

  • RHB

    • Interest Rate: 2.20 – 2.30% p.a.

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$20,000

  • OCBC

    • Interest Rate: 2.15% p.a. (internet banking)

    • Commitment Period: 9 months

    • Minimum Amount: S$30,000

  • Standard Chartered

    • Interest Rate: 2.10 – 2.20% p.a.

    • Commitment Period: 5 months

    • Minimum Amount: S$25,000

Deposits $50,000 and above:

  • Bank of China

    • Interest Rate: 2.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • State Bank of India

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • ICBC

    • Interest Rate: 2.45% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$200,000

  • CIMB

    • Interest Rate: 2.30 – 2.35% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.30% p.a. (online fixed deposit special)

    • Commitment Period: 9 months or 10 months

    • Minimum Amount: S$20,000

  • HSBC

    • Interest Rate: 2.30% p.a. (Premier and Premier Elite customers with investment holdings)

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$30,000

  • RHB

    • Interest Rate: 2.20 – 2.30% p.a.

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$20,000

  • Citibank

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

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$50,000

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)

TAGS
Fixed depositInterest ratesSingapore Finance

Hot this week

Topics

  • Asia
  • Business

IN CASE YOU MISSED IT

More Singaporeans eye early retirement but not many are confident they can achieve it
Personal Finance-April 11, 2025
Some S’poreans say they’re wary of finfluencers after 8 complaints have been made this year
Personal Finance-April 9, 2025
Risky bets: Young Singaporeans take high-interest loans to invest despite poor financial literacy
Personal Finance-April 3, 2025
Revenge spending, splurging, and poor financial decisions: Singaporean asks those who grew up poor how their relationship with money changed
Personal Finance-April 2, 2025