SINGAPORE: If you’re looking to make the most of your savings this August, here are the best-fixed deposit rates in Singapore, according to MoneySmart.
To earn up to 3.60% interest, here’s a rundown of the top banks offering competitive rates this month:
Aug 2024 Highest Fixed Deposit Rates
- Syfe Cash+ Guaranteed
- Interest Rate: 3.60% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
- StashAway Simple Guaranteed
- Interest Rate: 3.50% 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: 3.30% p.a. (via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- Bank of China
- Interest Rate: 3.35% p.a. (via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- CIMB
- Interest Rate: 3.05 – 3.10% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
- RHB
- Interest Rate: 3.25 – 3.30% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$20,000
- HSBC
- Interest Rate: 3.30% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$200,000
Aug 2024 Best fixed deposit rates by commitment period
3-Month commitment period:
- Syfe Cash+ Guaranteed
- Interest Rate: 3.60% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
- StashAway Simple Guaranteed
- Interest Rate: 3.50% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
- ICBC
- Interest Rate: 3.30% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- Bank of China
- Interest Rate: 3.35% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- CIMB
- Interest Rate: 3.05 – 3.10% p.a.
- Commitment Period: 3 month
- Minimum Amount: S$10,000
- HSBC
- Interest Rate: 3.30% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$200,000
- Hong Leong Finance
- Interest Rate: 3.10% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$200,000
- Citibank
- Interest Rate: 2.65% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$50,000
6-Month commitment period:
- Syfe Cash+ Guaranteed
- Interest Rate: 3.30% p.a.
- Commitment Period: 6 months
- Minimum Amount: No minimum
- StashAway Simple Guaranteed
- Interest Rate: 3.20% p.a.
- Commitment Period: 6 months
- Minimum Amount: No minimum
- Bank of China
- Interest Rate: 3.10% p.a.(via mobile banking)
- Commitment Period: 6 months
- Minimum Amount: S$500
- ICBC
- Interest Rate: 3.10% p.a.(via e-banking)
- Commitment Period: 6 months
- Minimum Amount: S$500
- CIMB
- Interest Rate: 3.05 – 3.10% 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% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$25,000
- OCBC
- Interest Rate: 2.90% p.a.(internet banking)
- Commitment Period: 6 months
- Minimum Amount: S$30,000
- State Bank of India
- Interest Rate: 3.40% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000
12-Month commitment period:
- Syfe Cash+ Guaranteed
- Interest Rate: 3.00% p.a.
- Commitment Period: 12 months
- Minimum Amount: No minimum
- StashAway Simple Guaranteed
- Interest Rate: 2.80% p.a.
- Commitment Period: 12 months
- Minimum Amount: No minimum
- Bank of China
- Interest Rate: 2.80% p.a.(via mobile banking)
- Commitment Period: 12 months
- Minimum Amount: S$500
- ICBC
- Interest Rate: 2.95% p.a.(via e-banking)
- Commitment Period: 12 months
- Minimum Amount: S$500
- CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$10,000
- RHB
- Interest Rate: 3.05 – 3.10% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$20,000
- Maybank
- Interest Rate: 3.20% p.a.(online placement)
- Commitment Period: 6 months
- Minimum Amount: S$20,000
- State Bank of India
- Interest Rate: 3.20% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$50,000
Aug 2024 Best fixed deposit rates by minimum deposit
Deposits $10,000 and under:
- CIMB
- Interest Rate: 3.05 – 3.10% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
- Bank of China
- Interest Rate: 3.35% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- ICBC
- Interest Rate: 3.30% 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: 3.05 – 3.10% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
- Bank of China
- Interest Rate: 3.35% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- ICBC
- Interest Rate: 3.30% 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
- Minimum Amount: S$20,000
- Standard Chartered
- Interest Rate: 2.90 – 3.10% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$25,000
- OCBC
- Interest Rate: 2.90% p.a.(internet banking)
- Commitment Period: 6 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: 3.05 – 3.10% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
- Citibank
- Interest Rate: 2.65% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$50,000
- HSBC
- Interest Rate: 3.30% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$200,000
- Bank of China
- Interest Rate: 3.35% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
- ICBC
- Interest Rate: 3.30% 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
- 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: 3.10% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$200,000
Disclaimer: Rates are promotional and subject to change. For the most current rates, visit the respective bank websites. /TISG
Read also: Best fixed deposit rates in Singapore for July 2024
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