Fixed deposits in Singapore remain a simple way to lock a Singapore-dollar rate for a set tenor, but the published rate can depend on fresh funds, online placement, customer segment, minimum deposit and the campaign period. As of 11 October 2026, the sampled offers below include a 1.00% p.a. DBS 12-month board-rate tier, a 1.70% p.a. UOB 12-month promotion, up to 2.00% p.a. at CIMB and HSBC for selected customers and tenors, and a 2.10% p.a. Maybank 12-month bundle rate with an earmark condition. Promotional rates, customer tiers and campaign dates should be checked before every new placement.
Currency: SGD
Common Tenors: 3, 6, 9, 12 Months
Rates Change Without Notice
Fixed Deposit / Time Deposit
S$10,000 to S$30,000 for many current promotions
% p.a.
Up to S$100,000 per depositor per Scheme member for eligible SGD deposits
How Fixed Deposits Work in Singapore
A fixed deposit places a set amount of money with a bank for a fixed tenor. The bank quotes an annualised interest rate, normally shown as % p.a., and the customer receives interest based on the placement amount, tenor and product terms. The rate is normally tied to the placement that the bank accepts, not to rates advertised after the placement date.
The main trade-off is liquidity. A savings account can usually be withdrawn any time, while a fixed deposit may reduce or forfeit interest if withdrawn before maturity. For a deeper penalty check, use the separate BanksInSG page on early FD withdrawal penalties before locking cash for a longer tenor.
Promotional rates often require a minimum amount such as S$10,000, S$20,000, S$25,000 or S$30,000.
Common SGD promotional tenors are 3, 6, 9 and 12 months. Some banks also publish longer board-rate tenors.
Many promotions require money transferred from outside the same bank, rather than funds moved from an existing account at that bank.
At maturity, a bank may credit principal and interest, renew the deposit, or renew only the principal depending on the selected instruction.
Current SGD Fixed Deposit Rate Snapshot
The table below uses official bank pages checked on 11 October 2026. Dates are shown separately from the rate so an expired campaign is easier to identify. Where a bank does not publish a fixed start or end date on its current product page, the table says so rather than assuming one.
| Bank / Product | Tenor | Official Sample Rate | Rate Checked On | Promo Start | Promo End | Customer Segment | Minimum Fresh Funds | Main Condition | Channel | Official Verification |
|---|---|---|---|---|---|---|---|---|---|---|
| UOB Singapore Dollar Time / Fixed Deposit Promotion | 12 months | 1.70% p.a. | 11 October 2026 | 23 September 2026 | 31 October 2026 | Eligible UOB retail customers | S$10,000 | Fresh-funds placement. UOB also publishes 1.60% p.a. for 6 months and 1.65% p.a. for 10 months during the same campaign. | UOB TMRW App | Check UOB Rates |
| HSBC SGD Time Deposit Promotion | 6 months | 2.00% p.a. max | 11 October 2026 | Not stated on current product page | Not stated on current product page | Premier Elite, Premier and Personal Banking | S$30,000 | For 6 months, HSBC shows 2.00% p.a. for Premier Elite and Premier customers, and 1.80% p.a. for Personal Banking. Current 12-month rates are 1.70% Premier Elite, 1.65% Premier with qualifying wealth holdings or Premier FX Engaged, 1.35% Premier without wealth holdings and 1.30% Personal Banking. | HSBC Singapore App; branch or Relationship Manager routes also available | Check HSBC Rates |
| CIMB SGD Online Fixed Deposit Promotion | 12 months | 2.00% p.a. max | 11 October 2026 | 1 October 2026 | Not stated; rates subject to change | Personal Banking / Preferred Banking | S$10,000 minimum online promotional placement; current rate table does not state a separate fresh-funds minimum | 12-month online rate is 1.95% p.a. for Personal Banking and 2.00% p.a. for Preferred Banking. Current 6- and 9-month rates are 1.75% / 1.80% p.a. for Personal / Preferred Banking. | Online | Check CIMB Rates |
| OCBC SGD Time Deposit Online Promotion | 12 months | 1.65% p.a. | 11 October 2026 | Not stated on current rate page | Not stated; promotional rates are limited-time and subject to change | Personal individual accounts | S$20,000 | Fresh funds only. OCBC currently shows 12-month online placement at 1.65% p.a. and 12-month branch placement at 1.60% p.a.; 6-month rates are 1.50% online and 1.45% at branches. | OCBC app or branch | Check OCBC Rates |
| Maybank Singapore Dollar Time Deposit Bundle Promotion | 12 months | 2.10% p.a. | 11 October 2026 | 10 July 2026 | No fixed end date published; determined by Maybank | Individual customers | S$20,000 time deposit; fresh-funds and linked-account conditions apply to the bundle | For the 12-month bundle, 10% of the time deposit amount is earmarked in a Maybank current or savings account for 12 months. Maybank shows an effective rate of 1.91% p.a. in its S$100,000 example. The standalone 12-month promotional time deposit rate is 1.85% p.a. | Branch and online | Check Maybank Rates |
| DBS Singapore Dollar Fixed Deposit Board Rates | 12 months | 1.00% p.a. | 11 October 2026 | Not applicable | Not applicable | Individual accounts | No promotional fresh-funds requirement; sampled balance tier starts at S$1,000 | 1.00% p.a. applies to the sampled S$1,000 to S$19,999 total SGD fixed deposit balance tiers for 12 months. DBS calculates the applicable rate using total SGD fixed deposit balances, and rates are indicative. | digibank and eligible DBS channels | Check DBS Rates |
No matching rows found.
Standard Chartered’s public SGD fresh-funds promotion shown for 28 August to 30 September 2026 has ended, so that expired offer is not treated as a current rate in this snapshot. The bank’s current product page should be checked for a new promotion or prevailing time deposit rate before placement.
Promotional rates may require fresh funds, online placement, a specific banking segment or a linked wealth relationship. Board rates and promotional rates are not the same thing. A higher displayed rate can also come with an earmark condition, a customer-tier requirement or a shorter campaign window.
Tenor and Rate Comparison
The bar view uses the highest sampled SGD promotional rate found among the current offers represented above for each listed tenor. Maybank bundle rates include an earmark condition, so the stated promotional rate should not be read as directly equivalent to a standalone fixed deposit rate.
| Tenor | Highest Sample Used | Example Source Context | What to Check |
|---|---|---|---|
| 3 months | 1.60% p.a. | HSBC Premier promotional tiers | Customer segment, S$30,000 fresh funds minimum and placement channel |
| 6 months | 2.00% p.a. | HSBC Premier promotional tiers | Customer segment and fresh-funds requirement |
| 9 months | 2.00% p.a. | Maybank Deposit Bundle Promotion | Earmark condition and effective blended rate |
| 12 months | 2.10% p.a. | Maybank Deposit Bundle Promotion | 10% earmark condition; Maybank’s stated effective rate for its example is lower than the headline TD rate |
How to Choose a Fixed Deposit Tenor
A longer tenor does not automatically mean a better outcome. The better fit depends on when the cash is needed, whether the rate gap is worth the lock-in, and whether the depositor wants to keep flexibility for later rate changes.
- Useful for cash that may be needed within the year.
- Reduces the time locked into one rate.
- Can be paired with a savings account for near-term liquidity.
- May suit customers waiting before deciding on a larger placement.
- Gives more rate certainty for earmarked cash.
- May offer better promotional pricing in some bank campaigns.
- Can be less flexible if cash is needed before maturity.
- Needs a careful maturity instruction check to avoid unwanted renewal.
For users who do not want all cash locked in one maturity date, a staggered approach can help. BanksInSG covers this separately in FD laddering for liquidity.
FD Laddering Example for Liquidity
FD laddering splits one deposit pool into smaller placements with different maturity dates. This can reduce the chance of needing to break a single large placement early.
| Deposit Slice | Example Tenor | Liquidity Purpose | Maturity Check |
|---|---|---|---|
| S$10,000 | 3 months | Near-term cash access | Decide whether to renew or keep cash liquid |
| S$10,000 | 6 months | Mid-year expense buffer | Compare new FD rates before renewal |
| S$10,000 | 9 months | Later cash need | Check if the bank auto-renews principal and interest |
| S$10,000 | 12 months | Longer earmarked cash | Review rate, SDIC coverage and withdrawal needs |
This example is a structure illustration only. It does not account for personal cash-flow needs, tax position, product terms, or a bank’s final acceptance of any placement.
Simple Interest Examples
Most fixed deposit quotes are annualised. A simple estimate uses: principal × annual rate × tenor ÷ 12. The actual bank payout may differ due to day-count method, value date, leap year treatment, campaign rules or early withdrawal.
| Placement | Rate Used | Tenor | Simple Estimated Interest |
|---|---|---|---|
| S$20,000 | 1.60% p.a. | 6 months | S$160 |
| S$30,000 | 2.00% p.a. | 6 months | S$300 |
| S$50,000 | 1.80% p.a. | 9 months | S$675 |
| S$100,000 | 2.00% p.a. | 12 months | S$2,000 |
These examples use standalone rates for simple arithmetic. Bundle promotions with earmarked balances can have a different effective return from the headline time deposit rate.
What to Compare Before Placing an FD
A promotional rate may apply only for a short campaign period. Board rates can be lower and may apply to renewal if no fresh promotion is selected.
Check whether funds must come from another bank, salary credit, FAST transfer, cheque or another source accepted under the bank’s campaign definition.
Some banks quote different rates for app, internet banking, branch or relationship manager placements.
Premier, Priority, Preferred or wealth-linked tiers may receive a different rate from a standard retail customer.
Check both the promotion start and end date. A rate page can remain accessible after a campaign closes, so the date is as important as the percentage shown.
Confirm whether principal, interest or both will be renewed automatically, credited to a savings account or handled through another instruction.
Deposit Insurance and Fixed Deposits
Eligible Singapore-dollar fixed deposits with a Deposit Insurance Scheme member are covered by the Singapore Deposit Insurance Corporation within the scheme limit. SDIC states that insured deposits with the same member are aggregated and insured up to S$100,000 per depositor per Scheme member. This limit is not applied separately for each branch of the same bank.
| Scenario | How Coverage Is Viewed | Practical Meaning |
|---|---|---|
| Savings account and fixed deposit at the same bank | Aggregated under the same Scheme member | The S$100,000 limit applies to the combined eligible SGD deposits with that member. |
| Fixed deposits at two different member banks | Separate member limits | Each Scheme member has its own limit for eligible deposits. |
| Fixed deposit at two branches of the same bank | Not separate by branch | Branches of the same member are aggregated for coverage. |
| Foreign currency deposit | Not covered under the SGD deposit insurance scope | Check foreign currency deposit terms and risks separately. |
For official coverage wording, check the SDIC deposit insurance page and the MoneySense deposit insurance explainer.
Fixed Deposit vs Savings Account
A fixed deposit is not the only way to earn deposit interest. Some customers may compare FDs with high-interest savings accounts, especially when they can meet salary, card spend or bill payment conditions. BanksInSG also tracks how multiplier savings accounts work and what to review in everyday savings accounts.
| Feature | Fixed Deposit | Savings Account |
|---|---|---|
| Rate Basis | Quoted for a specific placement and tenor | May depend on balance tier, salary credit, card spend, bill payment or investment criteria |
| Liquidity | Locked until maturity unless withdrawn early under bank terms | Usually withdrawable, subject to account limits and fees |
| Rate Certainty | More defined for the accepted placement | Can change when the bank revises tiers or customer activity changes |
| Better Fit | Earmarked cash with a known time horizon | Operating cash, emergency buffer and monthly banking activity |
Funding and Application Notes
Confirm whether an existing savings or current account is needed before placing a fixed deposit. New customers may need to complete account opening first.
If the promotion requires fresh funds, check the bank’s definition before transferring money. A FAST transfer from another bank may qualify in some promotions, but each bank sets its own terms.
Choose whether the deposit renews, credits back to the debiting account, or follows another maturity instruction offered by the bank.
Keep the placement confirmation, rate, value date, maturity date and terms. These details matter if the customer later asks the bank about interest payout or withdrawal.
Customers who still need a Singapore bank account can compare online and branch account opening, while first-time applicants should also review the account opening documents requested by Singapore banks.
Fee, Balance and Access Notes
Fixed deposits may look simple, but the surrounding account can still have balance, service or early withdrawal rules. Minimum balance requirements are separate from FD placement minimums, so check the linked savings or current account as well as the fixed deposit terms. BanksInSG covers general account balance rules in minimum deposit requirements.
Do not treat a promotional rate screenshot, SMS, social media post or forwarded message as official. Use the bank’s website, app, branch staff or relationship manager channel for verification. Several banks also warn customers about fake fixed deposit promotions and phishing messages.
FAQ
Are fixed deposit rates locked after placement?
The accepted placement normally follows the rate and tenor agreed at placement, provided the deposit is held according to the bank’s terms. New placement rates can change at any time.
What does fresh funds mean for a Singapore fixed deposit?
Fresh funds usually means money that does not come from an existing account at the same bank. The exact definition differs by bank and campaign, so check the product terms before transferring money.
Is a Singapore fixed deposit covered by SDIC?
Eligible Singapore-dollar fixed deposits with a DI Scheme member are covered up to S$100,000 per depositor per Scheme member, together with other eligible SGD deposits at the same member.
What happens if I withdraw before maturity?
The bank may reduce or remove the interest payout and may apply its own early withdrawal process. Check the bank’s product terms before placing funds that may be needed early.
Is a 12-month fixed deposit better than a 6-month fixed deposit?
Not always. A 12-month tenor gives a longer lock-in, while a 6-month tenor gives earlier access and a chance to review rates again. The better fit depends on cash needs and product terms.
Can foreigners place fixed deposits in Singapore?
Foreign customers may be able to place fixed deposits if they meet the bank’s account opening and compliance requirements. Eligibility, documents and online access vary by bank.
Verification Notes
The rate table was checked against official bank pages on 11 October 2026. UOB currently lists its Singapore Dollar Time / Fixed Deposit promotion from 23 September to 31 October 2026, including 1.70% p.a. for 12 months with at least S$10,000 in fresh funds. HSBC currently publishes segment-specific SGD promotional rates for 3-, 6-, 9- and 12-month placements with at least S$30,000 in fresh funds. CIMB’s current online promotional table applies from 1 October 2026 and shows up to 2.00% p.a. for 12 months.
OCBC currently shows 1.65% p.a. for a 12-month online SGD placement and requires at least S$20,000 in fresh funds for the promotion. Maybank’s current page shows a 12-month Deposit Bundle promotional rate of 2.10% p.a. with a 10% earmark requirement and a stated 1.91% p.a. effective rate in its S$100,000 example; its standalone 12-month promotion is 1.85% p.a. DBS continues to publish a 1.00% p.a. 12-month board-rate tier for selected lower total SGD FD balances.
Use official pages for final verification: DBS FD rates, OCBC fixed deposits, UOB time deposit rates, HSBC time deposits, Maybank time deposit promotions, CIMB SGD FD rates, Standard Chartered time deposits and SDIC deposit insurance. Rates, campaign periods, fresh-funds definitions, customer tiers and placement channels can change before a depositor applies.
