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Fixed Deposit Promotions in Singapore 2019

Investing a part of your savings in a fixed deposit (FD) for a certain time period will earn you interest at the end of the tenure. The interest rates are higher for longer tenures.

Here are the Top Banks Providing Best Fixed Deposit Promotions in 2019

Maybank Fixed Deposit Promotion 2019
Maybank FD Promo

Enjoy a promo interest rate of 2.05% p.a.

You must deposit a minimum of S$20,000 for 12 months.

You will receive the interest amount the next day.

Promo Expires at the bank’s discretion.

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Citibank Fixed Deposit Promotion 2019
Citibank FD Promo

Enjoy high returns with a promo rate of 2.88% p.a.

Make a new deposit of at least S$50,000

along with an investment purchase of S$25,000

Promo Expires on 28 February 2019

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ICBC Fixed Deposit Promotion 2019 Singapore
ICBC FD Promo

Earn interest amount at a promo rate

as high as 2.1% p.a. You must deposit at least

S$5,000?in your FD for 12 months

Promo Expires at the bank’s discretion

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OCBC Fixed Deposit Promotion 2019
OCBC FD Promo

Enjoy a promo interest rate of 1.75% p.a.

Make a fresh deposit of at least S$20,000 in the FD for 12 months.

Promo Expires at the bank’s discretion.

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SIF Fixed Deposit Promotion 2019
SIF FD Promo

Earn high returns with promo rates of up to 1.85% p.a.

You must deposit between S$20,000 and S$50,000

for tenures between 9 and 24 months.

Promo Expires at SIF’s discretion.

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HLF Fixed Deposit Promotion 2019 Singapore
HLF FD Promo

Enjoy promo interest rates ranging from

1.70% to 1.90% p.a. You have to

place a minimum of S$20,000 for 8 to 13 months.

Promo Expires at the bank’s discretion.

View
RHB Fixed Deposit Promotion 2019
RHB FD Promo

Earn interest on a promotional rate of up to 1.88% p.a.

You must deposit at least S$20,000 for 6 or 12 months.

Promo Expires on 28 February 2019.

View

Maybank Fixed Deposit Promotions

SGD Time Deposit:

  • Get a promotional interest rate of 2.05% p.a. on your SGD Time Deposit on a minimum deposit of S$20,000 for a 12-month period, when you deposit new funds in your Maybank Current or Savings (CASA) accounts.
  • The eligible CASA accounts are Privilege Plus Savings, Passbook Savings, PremierOne, or SaveUP Accounts for individuals and FlexiBiz, PremierBiz, or Current Accounts for non-individuals.
  • The full interest amount will be deposited in your CASA account the very next working day.
  • You can make a deposit of S$10,000 in your time deposit for every S$1,000 deposited in your current or savings account.
  • For the promo rate to take effect, you must deposit a minimum of S$2,000 in your savings or current accounts, and hence deposit S$20,000 in your FD.
  • The promotion began on 10 January 2019. The promotion expires at the discretion of the bank.

iSAVvy Time Deposit:

  • Enjoy an interest rate of 2% p.a. on your iSAVvy Time Deposit when you make an online transfer of an amount between S$50,001 and S$1 million to it from your existing Maybank CASA account.
  • This deposit must be made for a 24-month period.
  • Upon making the online transfer, you will receive an interest of 0.25% p.a. in your CASA account the next working day.
  • The rest of the interest will be credited to you upon maturity.
  • This is applicable only to individuals.
  • The promotion began on 10 January 2019. And it expires as and when the bank so decides.

Citibank Fixed Deposit Promotions

Citibank SGD Time Deposit:

  • Placement of fresh funds of S$50,000 to S$1 million in your Citibank SGD Time Deposit will earn you an interest rate of 1.78% p.a.
  • If you want to withdraw early, you will be charged a fee and will earn lesser or no interest amount.
  • The promotion will expire on 28 February 2019.

Citibank SGD Time Deposit Investment Bundle:

  • Make an investment purchase of at least S$25,000 with Citibank and place a minimum of S$50,000 in the SGD Time Deposit and get an interest rate of S$2.88%.
  • The investment purchase has to be made during the promotional period.
  • The tenure for this promotional rate is 3 months.
  • The maximum amount you can place in the FD can either be twice the investment amount or S$5 million.
  • If you want to withdraw early, you will be charged a fee and will earn lesser or no interest amount.
  • The promotion will expire on 28 February 2019.

OCBC Fixed Deposit Promotions

OCBC SGD Time Deposit:

  • Deposit at least S$20,000 and enjoy returns at an interest rate of 1.75% p.a.
  • The tenure for this promotional rate is 12 months.
  • The maximum amount you can deposit in the FD is S$999,999.
  • The FD deposit you make must be fresh and not a transfer from your existing savings/deposit accounts.
  • The promotion expires at the discretion of the bank.

Sing Investments and Finance (SIF) Limited FD Promotions

SIF SGD Fixed Deposit:

  • If you deposit at least S$20,000 in the SIF FD, you can earn interest at rates ranging from 1.5% p.a. to 1.75% p.a. for tenures ranging between 9 and 24 months.
  • If you deposit at least S$20,000 in the SIF FD with a GIRO Saver account, you can earn interest at rates ranging from 1.55% p.a. to 1.80% p.a. for tenures ranging between 9 and 24 months.
  • If you deposit at least S$50,000 in the SIF FD, you can earn interest at rates ranging from 1.6% p.a. to 1.8% p.a. for tenures ranging between 9 and 24 months.
  • If you deposit at least S$50,000 in the SIF FD with a GIRO Saver account, you can earn interest at rates ranging from 1.65% p.a. to 1.85% p.a. for tenures ranging between 9 and 24 months.
  • The promotion ends at the discretion of SIF.

Hong Leong Finance FD Promotions

HLF SGD Fixed Deposit:

  • Enjoy promotional interest rates of up to 1.90% p.a. when you open a new FD or renew your FD with a fresh deposit of a minimum of S$20,000.
  • You can choose a tenure between 8, 12, and 13 months.
  • For deposits between S$20,000 and S$50,000, the interest rates will vary between 1.70% p.a. and 1.78% p.a.
  • For deposits between S$50,000 and S$100,000, the interest rates will vary between 1.70% p.a. and 1.83% p.a.
  • For deposits between S$100,000 and S$200,000, the interest rates will vary between 1.80% p.a. and 1.88% p.a.
  • For deposits that are S$200,000 and above, the interest rates will vary between 1.80% p.a. and 1.90% p.a.
  • Corporate and individual account holders are eligible for the promotional rates.
  • Individual account holders who opt for 12-month and 13-month tenures will receive an exclusive gift as well. You will get 1 gift set for every account.
  • In case you want to withdraw the placement amount before maturity, you will have to pay an interest of 0.1% p.a. for every completed quarter.
  • If you don’t hold the Fixed Deposit Receipt till maturity, you will be charged S$50.
  • The promotion expires at the discretion of the bank.

ICBC FD Promotions

ICBC SGD Fixed Deposit:

  • Earn a high interest amount by depositing fresh funds of at least S$20,000 in your ICBC SGD FD.
  • For a tenure of 3 months, you will earn an interest rate of 1.55% p.a.
  • For a tenure of 6 months, you will get an interest rate of 1.85% p.a.
  • For a tenure of 9 months, you can enjoy an interest rate of 1.85% p.a.
  • For a tenure of 12 months, you will get an interest rate of 1.90% p.a.
  • If you transfer the placement amount online for a tenure of 12 months, you can get an interest rate of 1.98% p.a.
  • The promotion expires at the discretion of the bank.

ICBC SGD Step-Up Fixed Deposit:

  • Under this plan, the promotional interest rate varies every quarter, for 4 quarters.
  • You must place fresh funds of at least S$5,000 in your FD for 12 months.
  • The interest for the 4 quarters will be 1.8% p.a., 2% p.a., 9% p.a., and 2.1% p.a.
  • The promotion expires at the discretion of the bank.

RHB Fixed Deposit Promotions

RHB SGD Fixed Deposit:

  • Earn interest amount at promotional rates of up to 1.88% p.a. for a minimum placement amount of S$20,000.
  • If you choose a tenure of 6 months, you can earn interest at 1.68% p.a.
  • If you choose a tenure of 12 months, you can enjoy interest at 1.88% p.a.
  • You must deposit fresh funds and not transfer the amount from existing RHB accounts or via RBH cashier’s orders, demand drafts, or cheques.
  • You will not receive any interest if you withdraw before maturity.
  • The promotion is open to both existing and new customers.
  • The promotion ends on 28 February 2019.

Foreign Currency Fixed Deposit Promotions in 2019

Citibank Fixed Deposit Promotions

Citibank Foreign Currency Time Deposit:

  • Place a minimum of S$10,000 equivalent in USD, AUD, and NZD and enjoy interest rates up to 2.28% p.a.
  • The maximum deposit that can be made in the FD is S$1 million.
  • For a tenure of 1 month, earn interest at 1.30% p.a., 2.08% p.a., and 1.50% p.a. for deposits in AUD, USD, and NZD, respectively.
  • For a tenure of 3 months, earn interest at 1.50% p.a., 2.28% p.a., and 1.70% p.a. for deposits in AUD, USD, and NZD, respectively.
  • Citigold Private Client, Citigold, and Citibanking customers not eligible for this promotion.
  • If you want to withdraw early, you will be charged a fee and will earn lesser or no interest amount.
  • The promotion will expire on 28 February 2019.

OCBC Fixed Deposit Promotions

OCBC Foreign Currency Time Deposit:

  • Deposit a minimum of USD5,000 in the OCBC Foreign Currency FD for 3 months and earn interest at 2.4% p.a.
  • Deposit a minimum of USD5,000 in the OCBC Foreign Currency FD for 12 months and get interest at 2.7% p.a.
  • Deposit a minimum of AUD5,000 in the OCBC Foreign Currency FD for 3 months and enjoy interest at 1.4% p.a.
  • Deposit a minimum of AUD5,000 in the OCBC Foreign Currency FD for 12 months and earn interest at 1.7% p.a.
  • The maximum amount you can deposit in the FD is equivalent of S$999,999 in the currency of your choice.
  • You must make a fresh deposit and not a transfer from your existing savings or deposit accounts.
  • The promotion expires at the discretion of the bank.

ICBC Fixed Deposit Promotions

ICBC USD Fixed Deposit:

  • Enjoy promotional interest rates ranging from 2.6% p.a. to 3% p.a. for tenures between 3 and 12 months.
  • For fresh deposits that are USD500 and above, earn interest at 2.6% p.a. for a tenure of 3 months.
  • For deposits that are USD500 and above, enjoy interest at 2.75% p.a. for a 6-month tenure.
  • For deposits that are USD500 and above, get interest at 2.85% p.a. for a 12-month tenure.
  • If you make an online transfer to the FD for a 12-month tenure, you will be able to earn interest at 2.9% p.a.
  • For fresh deposits that are USD100,000 and above, enjoy interest at 2.7% p.a. for a tenure of 3 months.
  • For deposits that are USD100,000 and above, get interest at 2.8% p.a. for a 6-month tenure.
  • For deposits that are USD100,000 and above, earn interest at 2.95% p.a. for a 12-month tenure.
  • If you make an online transfer to the FD for a 12-month tenure, you will be able to earn interest at 3% p.a.
  • The promotion expires at the discretion of the bank.

ICBC RMB Fixed Deposit:

  • Get promotional interest rates ranging from 2.55% p.a. to 3.35% p.a. for tenures between 3 and 12 months.
  • For fresh deposits that are RMB10,000 and above, earn interest at 2.55% p.a. for a tenure of 3 months.
  • For deposits that are RMB10,000 and above, enjoy interest at 2.9% p.a. for a 6-month tenure.
  • For deposits that are RMB10,000 and above, get interest at 3.25% p.a. for a 12-month tenure.
  • If you make an online transfer to the FD for a 12-month tenure, you will be able to earn interest at 3.3% p.a.
  • For fresh deposits that are RMB50,000 and above, enjoy interest at 2.6% p.a. for a tenure of 3 months.
  • For deposits that are RMB50,000 and above, get interest at 2.95% p.a. for a 6-month tenure.
  • For deposits that are RMB50,000 and above, earn interest at 3.3% p.a. for a 12-month tenure.
  • If you make an online transfer to the FD for a 12-month tenure, you will be able to earn interest at 3.35% p.a.
  • The promotion expires at the discretion of the bank.

Types of Fixed Deposit Promotions

Higher interest rates: Most often, fixed deposit promotions are in the form of higher interest rates. Under such offers, if you place funds within the promotion period, you will be able to enjoy a higher rate of interest on your deposit account than what is usually offered by the bank for a specific tenure. However, in most cases, you will have to meet the minimum deposit criteria to participate in the promotion. In addition, most of the banks also require you to make your placement in fresh funds, which means that you can’t transfer funds from your existing savings/current account with that bank.

Gifts: Under such promotions, you will get an exclusive gift from the bank when you make a placement with fresh funds for a certain tenure.

Shopping vouchers: Under such promotions, you will get shopping vouchers from the bank for placing a certain minimum amount for a fixed tenure. You can redeem those vouchers at the select brands/stores.

Complimentary dinners: Under such promotions, you can enjoy a complimentary dinner when you place a minimum certain amount for a specific tenure. Banks normally have partnerships with certain restaurants where you can enjoy your complimentary dinner.

Complimentary hotel stays or vacations: Under these promotional offers, you will earn a complimentary stay at select hotels or a vacation package when you place a certain minimum amount of funds for a specific tenure.

Raffle draws: Under these promotional offers, if you place certain minimum amount under a fixed deposit account for a certain tenure, you will be eligible to participate in raffle draws to win exciting prizes.

Festival entry passes: With these offers, you will get free entry passes to an upcoming festival or event. You will have to meet the minimum deposit amount and other criteria to qualify.

Bundle Promotions (FD + investment purchase): Under bundle promotional offers, if you purchase investment products for a certain minimum amount and place a particular amount in an FD for a given period of time, you will get returns at higher interest rates. The invest products such as bonds or stocks must be purchased during the promotional period. You should be able to meet the minimum amount in both the FD and the investments.

Bundle Promotions (FD + savings account): Bundle promotions are also available with fresh savings account (SA) deposits. If you deposit a certain amount freshly in your SA and place a certain minimum amount in your FD, you will be eligible for a higher interest rate on the amount placed in the FD. The amount deposited to the SA must not be transferred from an existing account with that particular bank. The amount in both the SA and the FD will be held by the bank throughout the tenure.

FAQs

Q. Will I be penalised if I withdraw from my FD before the tenure ends?

A. If you withdraw before the end of the tenure, you may be charged a fee and you may receive lesser or no interest amount. The banks also need you to maintain a minimum amount throughout the tenure.

Q. Are foreign currency deposits subject to fluctuation?

A. Foreign currency investments are subject to fluctuation. There are chances of gaining or losing when you convert the deposit back into your home currency.

Q. If I am not able to meet the conditions of the promotion on time, will the bank make an exception?

A. Banks reserve the right to adjust the promotion period for individuals on a case by case basis. You will have to contact the bank personally. However, you must always plan to meet the conditions.

Q. Can I use my FD as collateral for any other facility during the promotion period?

A. Yes, you will be able to use your FD as collateral for a banking facility while enjoying promotional interest rates. The interest paid to you by the bank may be deducted from the deposit to decide the amount that can be pledged.

Q. If I have given instructions to the bank to renew my FD after the tenure ends, will I still be able to enjoy the promotional rates?

A. No, your FD will be renewed based on the prevailing features and board rates.

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