SINGAPORE: Boost your savings this month with higher fixed deposit interest rates.

Here are some banks offering competitive rates in October 2024, according to MoneySmart.

Oct 2024 Highest Fixed Deposit Rates

Maybank
- Interest Rate: 3.45% p.a.(branch placement)
- Commitment Period: 6 months
- Minimum Amount: S$20,000
StashAway Simple Guaranteed
- Interest Rate: 3.20% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
Syfe Cash+ Guaranteed
- Interest Rate: 3.20% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
DBS
- Interest Rate: 3.20% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$1,000
Bank of China
- Interest Rate: 3.00% p.a. (via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
HSBC
- Interest Rate: 3.00% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$100,000
State Bank of India
- Interest Rate: 2.90% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000
Hong Leong Finance
- Interest Rate: 2.80% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$50,000
CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
ICBC
- Interest Rate: 2.65% p.a. (via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
RHB
- Interest Rate: 2.70 – 2.75% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$20,000
OCBC
- Interest Rate: 2.60% p.a.(internet banking)
- Commitment Period: 6 months
- Minimum Amount: S$30,000
Standard Chartered
- Interest Rate: 2.60 – 2.80% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$25,000

Oct 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

StashAway Simple Guaranteed
- Interest Rate: 3.20% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
Syfe Cash+ Guaranteed
- Interest Rate: 3.20% p.a.
- Commitment Period: 3 months
- Minimum Amount: No minimum
Bank of China
- Interest Rate: 3.00% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 3 month
- Minimum Amount: S$10,000
ICBC
- Interest Rate: 2.65% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
RHB
- Interest Rate: 2.70 – 2.75% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$20,000
Citibank
- Interest Rate: 2.45% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$50,000

6-Month commitment period:

Syfe Cash+ Guaranteed
- Interest Rate: 3.00% p.a.
- Commitment Period: 6 months
- Minimum Amount: No minimum
StashAway Simple Guaranteed
- Interest Rate: 3.00% p.a.
- Commitment Period: 6 months
- Minimum Amount: No minimum
Bank of China
- Interest Rate: 2.80% p.a.(via mobile banking)
- Commitment Period: 6 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 2.45% p.a.(via e-banking)
- Commitment Period: 6 months
- Minimum Amount: S$500
CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000
Maybank
- Interest Rate: 3.45% p.a.(branch placement)
- Commitment Period: 6 months
- Minimum Amount: S$20,000
RHB
- Interest Rate: 2.60 – 2.65% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$20,000
OCBC
- Interest Rate: 2.60% p.a.(internet banking)
- Commitment Period: 6 months
- Minimum Amount: S$30,000
State Bank of India
- Interest Rate: 2.90% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000

12-Month commitment period:

Syfe Cash+ Guaranteed
- Interest Rate: 2.80% 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: 2.70% p.a.(via mobile banking)
- Commitment Period: 12 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 2.30% p.a.(via e-banking)
- Commitment Period: 12 months
- Minimum Amount: S$500
CIMB
- Interest Rate: 2.55 – 2.60% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$10,000
Maybank
- Interest Rate: 2.95% p.a.(branch placement)
- Commitment Period: 12 months
- Minimum Amount: S$20,000
RHB
- Interest Rate: 2.50 – 2.55% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$20,000
OCBC
- Interest Rate: 2.40% p.a.(internet banking)
- Commitment Period: 12 months
- Minimum Amount: S$30,000
State Bank of India
- Interest Rate: 2.50% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$50,000

Oct 2024 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

DBS
- Interest Rate: 3.20% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$1,000
Bank of China
- Interest Rate: 3.00% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 2.65% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
Hong Leong Finance
- Interest Rate: 2.70% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$5,000
CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
UOB
- Interest Rate: 2.70% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$10,000

Deposits $20,000–$49,999:

DBS
- Interest Rate: 3.20% p.a.
- Commitment Period: 12 months
- Minimum Amount: S$1,000
Maybank
- Interest Rate: 3.45% p.a.(branch placement)
- Commitment Period: 6 months
- Minimum Amount: S$20,000
Bank of China
- Interest Rate: 3.00% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 2.65% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
HSBC
- Interest Rate: 3.00% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$100,000
CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
RHB
- Interest Rate: 2.70 – 2.75% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$20,000
Standard Chartered
- Interest Rate: 2.60 – 2.80% p.a.
- Commitment Period: 3 months
- Minimum Amount: S$25,000
OCBC
- Interest Rate: 2.60% p.a.(internet banking)
- Commitment Period: 6 months
- Minimum Amount: S$30,000
Hong Leong Finance
- Interest Rate: 2.75% p.a.
- Commitment Period: 6 months or 7 months
- Minimum Amount: S$20,000

Deposits $50,000 and above:

State Bank of India
- Interest Rate: 2.90% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$50,000
CIMB
- Interest Rate: 2.75 – 2.80% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$10,000
Citibank
- Interest Rate: 2.45% p.a.
- Commitment Period: 3 months or 6 months
- Minimum Amount: S$50,000
HSBC
- Interest Rate: 3.00% p.a.
- Commitment Period: 6 months
- Minimum Amount: S$100,000
Bank of China
- Interest Rate: 3.00% p.a.(via mobile banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
ICBC
- Interest Rate: 2.65% p.a.(via e-banking)
- Commitment Period: 3 months
- Minimum Amount: S$500
RHB
- Interest Rate: 2.70 – 2.75% p.a.
- Commitment Period: 3 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: 2.80% p.a.
- Commitment Period: 6 months or 7 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)

Up to 3.45% interest rate! Best fixed deposit rates in Singapore for Oct 2024

ByMary Alavanza

Oct 2024 Highest Fixed Deposit Rates

Oct 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

6-Month commitment period:

12-Month commitment period:

Oct 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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