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 checked on 18 June 2026, sampled official SGD fixed deposit and time deposit promotions ranged from below 1% p.a. for some retail tiers to 1.60% p.a. for selected priority banking tiers, while standard board rates were often lower than promotional rates.
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 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 A savings account can usually be withdrawn any time, while a fixed deposit may reduce or forfeit interest if withdrawn before maturity.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 18, 24 or 36-month board rates.
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 and focuses on SGD fixed deposit or time deposit offers available or published around June 2026. It is a rate snapshot, not a ranking or recommendation. Always verify the final rate, campaign period, value date, eligibility and early withdrawal terms on the bank’s own page before placing funds.
| Bank / Product | Tenor | Official Sample Rate | Minimum Placement | Main Condition | Channel | Rate Status | Official Verification |
|---|---|---|---|---|---|---|---|
| Standard Chartered SGD Time Deposit Fresh Funds Promotion | 6 months | 1.60% p.a. max | S$25,000 | Fresh funds; 1.30% Personal Banking, 1.40% Priority Banking, 1.60% Priority Private | Online Banking or SC Mobile | Promotion from 10 June 2026 to 23 June 2026 | Check Bank Page |
| Maybank Singapore Dollar Time Deposit Bundle Promotion | 12 months | 1.55% p.a. | S$20,000 | 10% of time deposit amount earmarked in a Maybank current or savings account; stated effective rate 1.41% p.a. based on Maybank’s example | Branch and online | Promotion page live in June 2026 | Check Bank Page |
| CIMB SGD Online Fixed Deposit Promotion | 9 months | 1.50% p.a. max | S$10,000 | 1.45% Personal Banking; 1.50% Preferred Banking | Online | Rates shown from 1 June 2026; subject to change | Check Bank Page |
| OCBC Fixed Deposit Online Promotion | 6 months | 1.25% p.a. | S$20,000 | Online placement; OCBC also showed 12 and 18-month SGD promotional options | Internet Banking or OCBC app | Published on OCBC fixed deposit page | Check Bank Page |
| UOB Singapore Dollar Time / Fixed Deposit Promotion | 12 months | 1.25% p.a. max | S$10,000 | Fresh funds; base promotional rate 1.15% p.a.; selected Wealth product customers up to 1.25% p.a. | UOB Personal Internet Banking or UOB TMRW App | Promotion from 2 June 2026 to 30 June 2026 | Check Bank Page |
| HSBC SGD Time Deposit Promotion | 12 months | 1.20% p.a. max | S$30,000 for the June 2026 promotion | Premier Elite customers up to 1.20% p.a.; lower tiers have lower listed promotional rates | HSBC Singapore App, branch or Relationship Manager depending on placement route | Promotion available till 30 June 2026 | Check Bank Page |
| DBS Singapore Dollar Fixed Deposit Board Rates | 12 months | 1.00% p.a. | From S$1,000 in the sampled lower balance tier | DBS states rates are computed based on total SGD fixed deposit balances; new placements accepted for tenors 12 months and below | digibank placement window and eligible DBS channels | Indicative board rates; subject to change without prior notice | Check Bank Page |
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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 may also have a higher minimum deposit, shorter campaign period or added earmark condition.
Tenor and Rate Comparison
The bar view uses the highest sampled SGD promotional rate in the rate table for each listed tenor group. It is a simple comparison of published samples, not a claim that every customer can access the same rate.
| Tenor | Highest Sample Used | Example Source Context | What to Check |
|---|---|---|---|
| 3 months | 1.35% p.a. | CIMB Preferred Banking online promotional sample | Minimum amount, customer segment and online eligibility |
| 6 months | 1.60% p.a. | Standard Chartered Priority Private promotional sample | Customer tier and fresh funds definition |
| 9 months | 1.50% p.a. | CIMB Preferred Banking online promotional sample | Whether the rate applies to new online placements |
| 12 months | 1.55% p.a. | Maybank bundle promotional sample | Effective rate, earmarked funds and maturity payout |
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 | 1.30% p.a. | 6 months | S$130 |
| S$25,000 | 1.60% p.a. | 6 months | S$200 |
| S$50,000 | 1.50% p.a. | 9 months | S$562.50 |
| S$100,000 | 1.55% p.a. | 12 months | S$1,550 before considering any earmark or effective-rate adjustment |
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 other non-existing-bank sources.
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.
A rate may require a minimum placement and may cap the eligible promotional amount per customer.
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
Rate figures and conditions in this page were checked against official product or rate pages from DBS, OCBC, UOB, Standard Chartered, HSBC, Maybank and CIMB on 18 June 2026. Deposit insurance details were checked against SDIC and MoneySense public information. Rates, campaign periods, minimum amounts, value dates, fresh funds definitions, customer tiers and placement channels can change before a depositor applies.
Use official pages for final verification: DBS FD rates, OCBC fixed deposits, UOB time deposit rates, Standard Chartered time deposits, HSBC time deposits, Maybank time deposit promotions, CIMB SGD FD rates and SDIC deposit insurance.
