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Photo: Depositphotos/katiindies
Personal Finance
4 min.Read

Earn up to 3.05% interest! — Best fixed deposit rates in Singapore this Jan 2025

Mary Alavanza
By Mary Alavanza

SINGAPORE: Grow your money while celebrating the Chinese New Year with deposits starting at S$500, as banks offer fixed deposit rates of up to 3.05% per annum this January 2025!

Jan 2025 Highest Fixed Deposit Rates

  • Maybank

    • Interest Rate: 3.05% p.a. (branch placement)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  •  Syfe Cash+ Guaranteed

    • Interest Rate: 3.00% p.a.

    • Commitment Period: 1 month or 3 months

    • Minimum Amount: No minimum

  •  StashAway Simple Guaranteed

    • Interest Rate: 3.00% p.a.

    • Commitment Period: 1 month or 3 months

    • Minimum Amount: No minimum

  • Bank of China

    • Interest Rate: 2.95% p.a. (via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.90% p.a. (via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.70 – 2.75% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.65% p.a. (online fixed deposit special)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • State Bank of India

    • Interest Rate: 2.65% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • RHB

    • Interest Rate: 2.58 – 2.68% p.a.

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

    • Minimum Amount: S$20,000

  • Standard Chartered

    • Interest Rate: 2.40 – 2.60% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$25,000

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • OCBC

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

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

  • UOB

    • Interest Rate: 2.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

Jan 2025 Best fixed deposit rates by commitment period

3-Month commitment period:

  •  Syfe Cash+ Guaranteed

    • Interest Rate: 3.00% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  •  StashAway Simple Guaranteed

    • Interest Rate: 3.00% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum

  • Bank of China

    • Interest Rate: 2.95% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.90% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.90% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.65 – 2.70% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • RHB

    • Interest Rate: 2.58 – 2.68% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$20,000

6-Month commitment period:

  • Maybank

    • Interest Rate: 3.05% p.a. (branch placement)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Syfe Cash+ Guaranteed

    • Interest Rate: 2.85% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum

  • StashAway Simple Guaranteed

    • Interest Rate: 2.85% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum

  • Bank of China

    • Interest Rate: 2.75% p.a.(via mobile banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.70 – 2.75% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • RHB

    • Interest Rate: 2.58 – 2.68% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • State Bank of India

    • Interest Rate: 2.65% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • HSBC

    • Interest Rate: 2.48% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

  • ICBC

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

    • Commitment Period: 6 months

    • Minimum Amount: S$500

  • OCBC

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

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

12-Month commitment period:

  • Maybank

    • Interest Rate: 2.80% p.a. (branch placement)

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000

  • Syfe Cash+ Guaranteed

    • Interest Rate: 2.75% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum

  • StashAway Simple Guaranteed

    • Interest Rate: 2.75% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum

  • Bank of China

    • Interest Rate: 2.60% p.a.(via mobile banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$500

  • RHB

    • Interest Rate: 2.58 – 2.68% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000

  • CIMB

    • Interest Rate: 2.55 – 2.60% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$10,000

  • State Bank of India

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$50,000

  • ICBC

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

    • Commitment Period: 12 months

    • Minimum Amount: S$500

  • OCBC

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

    • Commitment Period: 12 months

    • Minimum Amount: S$30,000

Jan 2025 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

  • Bank of China

    • Interest Rate: 2.95% p.a. (via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.90% p.a. (via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.70 – 2.75% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • Hong Leong Finance

    • Interest Rate: 2.60% p.a. (online fixed deposit special)

    • Commitment Period: 6 months

    • Minimum Amount: S$5,000

  • DBS

    • Interest Rate: 2.45% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000

  • UOB

    • Interest Rate: 2.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

Deposits $20,000–$49,999:

  • Maybank

    • Interest Rate: 3.05% p.a. (branch placement)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Bank of China

    • Interest Rate: 2.95% p.a. (via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.90% p.a. (via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • CIMB

    • Interest Rate: 2.70 – 2.75% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • RHB

    • Interest Rate: 2.58 – 2.68% p.a.

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

    • Minimum Amount: S$20,000

  • Hong Leong Finance

    • Interest Rate: 2.65% p.a. (online fixed deposit special)

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000

  • Standard Chartered

    • Interest Rate: 2.40 – 2.60% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$25,000

  • HSBC

    • Interest Rate: 2.48% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

  • OCBC

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

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

Deposits $50,000 and above:

  • Bank of China

    • Interest Rate: 2.95% p.a. (via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • ICBC

    • Interest Rate: 2.90% p.a. (via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500

  • Citibank

    • Interest Rate: 2.90% p.a. (T&Cs apply)

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000

  • CIMB

    • Interest Rate: 2.70 – 2.75% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000

  • State Bank of India

    • Interest Rate: 2.65% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • Hong Leong Finance

    • Interest Rate: 2.60% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000

  • RHB

    • Interest Rate: 2.58 – 2.68% p.a.

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

    • Minimum Amount: S$20,000

  • HSBC

    • Interest Rate: 2.48% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000

Read also: Earn up to 3.15% interest with the best-fixed deposit rates in Singapore this Dec 2024!

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

Featured image by Depositphotos

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