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

Featured image by Depositphotos

Gain up to 3.60% interest! Best fixed deposit rates in Singapore for Aug 2024

ByMary Alavanza

Aug 2024 Highest Fixed Deposit Rates

Aug 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

6-Month commitment period:

12-Month commitment period:

Aug 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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