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

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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