• Fixed Deposits in Singapore

    • Experts Note

      TIP OF THE DAY

      Interest rates: Choose your fixed deposit account wisely; it can make a huge difference to your savings. Shop around for best fixed deposit rates available in the market for the amount that you intend to invest and the tenure for which you plan to invest. Interest rates may vary from bank.

    Fixed Deposit (FD) Singapore

    Fixed Deposit

    A Fixed Deposit is a type of low risk investment opportunity on which you will earn a predetermined fixed rate of interest. Fixed deposits in Singapore are also referred to as Time Deposits. Fixed deposit interest rates can change from time to time, depending on the bank. Many banks in Singapore offer fixed deposit promotions to customers wherein you will earn a higher rate of interest for the duration of the promotion.

    A fixed deposit account can be opened by depositing a fixed amount into the account for a definite period of time. You must note that when opening a fixed deposit account, you can deposit money only once. The interest earned on the fixed deposit will be payable only upon maturity.

    You can use your fixed deposit as collateral to apply for other lines of credit such as loans, credit cards, etc. Many banks in Singapore offer automatic renewal of your fixed deposit account upon maturity so you don’t have to worry about reopening the account.

    Banks in Singapore offer conventional fixed deposit accounts as well as Islamic fixed deposit accounts.

    Why choose a fixed deposit?

    When compared to a savings account, a fixed deposit yields higher interest rates. It can also help cultivate saving habits because once you deposit the money into a fixed deposit, you cannot typically withdraw it. Premature withdrawals of fixed deposits will cost a penalty and you will forfeit the interest rate offered.

    Fixed deposits are very low risk investments. As the interest rate earnings on fixed deposits are fixed before you open the account, they will not be affected by market fluctuations. At the end of the maturity period, you will get your initial deposit + interest. Fixed deposits are more reliable than other market investments such as stocks, shares, bonds, etc.

    Best Fixed Deposit Rates 2018

    Fixed deposit rate for 2018 are updated here taking a minimum tenure of 12 months

    Banks
    Account Type
    Regular Interest Rate
    Minimum Deposit
    Promotion Rates
    HSBC HSBC

    SGD

    USD CNY HKD

    0.25% - 0.28%

    1.19% - 2.09% 1.87% - 2.09% 0.6% - 1.25%

    5,000

    25,000 250,000 100,000
    Maybank Maybank

    SGD

    SGD (iSAVvy) FC (6 month time period) FC (iSAVvy) (6 month time period)

    0.7% – 0.75%

    0.85% - 1.3% 1.8% - 1.85% 1.85%

    SGD 1,000

    SGD 25,000 USD 10,000 USD 10,000
    OCBC OCBC

    SGD

    USD CNH HKD

    0.25%

    1.33% - 1.77% 0.65% - 1.09% 0.29% - 0.60%

    5,000

    49,999 249,999 500,000
    DBS DBS

    SGD

    USD CNH HKD

    0.35%

    1.67% - 1.825% 1.305% - 1.42% 0.9%

    1,000

    5,000 5,000 5,000
    UOB UOB

    SGD

    USD CNH HKD

    0.25%

    1.59% - 1.89% 1.2% - 1.45% 0.41% - 0.85%

    5,000

    5,000 250,000 200,000
    CIMB CIMB

    SGD

    USD

    0.7% - 0.75%

    2.1375% - 2.575%

    1,000

    10,000
    Standard Chartered Standard Chartered

    SGD

    USD HKD CNH

    0.35%

    1.519% - 1.869% 0.6875% - 1.125% 3.45% - 3.85%

    5,000

    5,000 25,000 25,000
    POSB POSB

    SGD

    USD HKD CNH

    0.35%

    1.67% - 1.825% 0.9 1.305% - 1.42%

    1,000

    5,000 50,00 50,000
    RHB RHB

    SGD

    USD CNY HKD

    0.45% - 0.60%

    1.03% - 1.09% 0.24% - 0.28% 2.25% - 2.50%

    1,000

    5,000 5,000 5,000
    Bank of China Bank of China

    SGD

    USD HKD

    0.60% - 0.6875%

    1.9375% - 2% 0.75% - 0.875%

    5,000

    2,000 50,000
    Citibank Citibank

    SGD

    0.10%

    10,000

    HLF Hong Leong Finance

    SGD

    0.45% - 1.05%

    5,00

    Features and Benefits of Fixed Deposits

    Features

    • Fixed deposit tenures in Singapore start from 1 week and extend up to 36 months.
    • The minimum placement amount for most banks in Singapore is S$5,000. Citibank, however, requires you to deposit a minimum amount of S$10,000 to open a fixed deposit account.
    • Interest on fixed deposits is earned on a yearly basis (per annum).
    • Open more than one fixed deposit account simultaneously.

    Benefits

    • Fixed deposits offer guaranteed returns.
    • Fixed deposits are low risk investments.
    • Fixed deposits can be used as collateral to apply for other lines of credit.
    • You get to decide how long you want to save your money in a fixed deposit account.
    • Check all Benefits of Fixed Deposit

    List of Time Deposit Schemes Offered by Banks in Singapore

    Maybank Fixed Deposit/Time Deposits

    Maybank offers a choice of 6 fixed deposit accounts including Singapore Dollar Fixed Deposits and Foreign Currency Fixed Deposit accounts. You can choose tenures starting from 1 month and up to 36 months. The minimum deposit to open a Maybank fixed deposit starts at S$1,000.

    SGD Privilege Plus
    • Choose a minimum deposit amount of at least S$25,000 for a tenure of minimum 12 months or at least S$50,000 for a tenure of minimum 6 months.
    • Minimum age – 55 years old.
    • You will earn an additional interest of 0.25% p.a. above the prevailing board rates.
    • Premature withdrawals are permitted.
    Singapore Dollar Deposit
    • Minimum deposit amount – S$1,000.
    • Minimum placement period – 1 month.
    • Maximum placement period – 36 months.
    • Minimum age to apply – 16 years old.
    • Interest rates offered start from 0.20% p.a. up to 1.25% p.a.
    • Premature withdrawals are permitted.
    iSaVvy Time Deposit Account
    • Minimum deposit amount - S$5,000.
    • Placement periods – 3 months, 6 months, 12 months, 24 months and 36 months.
    • Minimum age to apply - 16 years old.
    • Interest rates offered range from 0.25% p.a. up to 1.35% p.a.
    Singapore Dollar Choice Date Deposit Account
    • Minimum deposit amount - S$10,000.
    • Minimum placement period – 30 days.
    • Maximum placement period – 999 days.
    • Minimum age to apply - 16 years old.
    • Interest rates offered start from 0.20% p.a. up to 1.25% p.a.
    iSaVvy Foreign Currency Deposit Account
    • Choose from the following currencies – Euro (EUR), Sterling Pound (GBP), United States Dollar (USD), Australian Dollar (AUD) and New Zealand Dollar (NZD).
    • Minimum placement amount – 10,000 units.
    • Placement Periods – 1 month, 2 months, 3 months and 6 months. 12 months placement period is available for United States Dollar (USD).
    • Interest rates offered start from 0% p.a. up to 1.75% p.a.
    Foreign Currency Account:
    • Choose from the following currencies - Euro (EUR), Sterling Pound (GBP), United States Dollar (USD), Australian Dollar (AUD), New Zealand Dollar (NZD), Swiss Franc (CHF), Canadian Dollar (CAD) and Japanese Yen (JPY).
    • Minimum deposit units – 10,000 units. 2.5 million units must be deposited for Japanese Yen.
    • Placement Periods – 1 month, 2 months, 3 months and 6 months. 12 months placement period is available for United States Dollar (USD), Australian Dollar (AUD), Sterling Pound (GBP) and New Zealand Dollar (NZD).
    • Minimum age to apply - 18 years old.
    • Interest rates offered starts from 0% p.a. up to 1.75% p.a.

    Get More Details on Maybank Fixed Deposit Rates

    OCBC Fixed Deposits

    OCBC Time Deposit (Fixed Deposit) offers its customers the choice of 12 different currencies. Starting from a minimum placement amount of S$5,000, earn promotional/board interest rates on your deposits.

    SGD Time Deposit Account
    • Minimum placement amount – S$5,000.
    • Placement Period starts from 1 month and up to 48 months.
    • Earn promotional interest rate of 1% for 12 months tenure if you deposit at least S$20,000.
    • Interest rates offered start from 0.05% p.a. up to 0.95% p.a.
    Foreign Currency Fixed Deposit Account
    • Initial deposit amount of 5,000 units for Euro (EUR), Sterling Pound (GBP), United States Dollar (USD), Australian Dollar (AUD), New Zealand Dollar (NZD), Swiss Franc (CHF), Canadian Dollar (CAD).
    • Initial deposit amount of 50,000 units for Hong Kong Dollar (HKD).
    • Initial deposit amount of 250,000 units for Renminbi Offshore (CNH).
    • Initial deposit amount of 500,000 units for Japanese Yen (JPY).
    • Promotional interest rates are available for Australian Dollar (AUD) and New Zealand Dollar (NZD) for 3 and 6 month tenures for a minimum placement of 5,000 units.
    • Except NZD, no other currency earns interest. AUD earns interest only during the promotion period.
    • The interest rates are comparatively low for certain foreign currencies. Euro, Hong Kong Dollar, Japanese Yen and Swiss Franc earns no interest at all.

    Get More Details on OCBC Time Deposit Rates

    UOB Fixed Deposits

    UOB offers a choice of two fixed deposit accounts; Singapore Dollar and Foreign Currency Fixed Deposit accounts. The bank offers promotional interest rates on both accounts from time to time. Tenures are as low as 1 week and extend up to 36 months.

    SGD Fixed Deposit Account
    • Minimum placement amount – S$5,000 for tenures of 1 month or more; S$250,000 for tenures of 7 days or 14 days; S$1 million for tenures of less than 7 days.
    • Flexible placement tenures of 1 month to 12 months, 15 months, 18 months, 24 months and 36 months.
    • Interest rates offered start from 0.05% p.a. up to 0.65% p.a. Annual interest rates offered for 24 month
      and 36 month tenures.
    • Automatic renewal of fixed deposit is available.
    • You can use your UOB fixed deposit account to get privileges on your UOB Credit Card.
    • Minimum age to apply - 15 years old.
    Foreign Currency Fixed Deposit Account
    • Choose from the following currencies - Euro, British Pound, United States Dollar, Australian Dollar, New Zealand Dollar, Swiss Franc, Canadian Dollar , Hong Kong Dollar and Japanese Yen.
    • Minimum placement amount for EUR, GBP, USD, EUR, NZD, CHF and CAD is 5,000 units.
    • Minimum placement amount for HKD is 200,000 units.
    • Minimum placement amount for JPY is 500,000 units.
    • Tenures start from 1 week and extend up to 12 months.
    • Interest rates offered range from 0% to 1.58% p.a.
    • Minimum age to apply - 15 years old.
    • You won’t get any interest for deposits in Euro, Swiss Franc and Japanese Yen.

    Get More Details on UOB Fixed Deposit

    CIMB Fixed Deposit

    CIMB is one of the few banks in Singapore that offers both, conventional as well as Islamic Banking Fixed Deposit accounts. You have the option to choose from three different types of fixed deposits offered with minimum placement amount starting from S$1,000. Promotional interest rates are offered from time to time.

    SGD Fixed Deposit Account
    • Initial deposit amount – S$1,000.
    • Placement tenures of 1 month, 2 months, 3 months, 6 months, 9 months, 12 months and 24 months.
    • Automatic renewal upon maturity is available.
    • Interest rates offered start from 0.20% p.a. up to 1.10% p.a.
    Foreign Currency FD
    • Choose from the following currencies - Euro, British Pound, United States Dollar, Australian Dollar, New Zealand Dollar, Canadian Dollar and Renminbi Offshore.
    • Minimum placement amount – 10,000 units.
    • Placement tenures of 1 month, 3 months, 6 months and 12 months.
    • Automatic renewal upon maturity is available.
    • Interest rates offered range from 0% to 2.515% p.a.
    • For the month of August, you can get a promotional interest rate up to 2.39% p.a. on Foreign Currency Fixed
      Deposit of 20,000 units for a period of 1 year.
    Why Wait Fixed Deposit i-Account
    • This is a Shariah compliant FD account that is based on the Murabahah concept.
    • You will receive your returns upfront in the form of a profit without having to wait for your FD to mature.
    • Minimum placement amount is S$1,000.
    • Up to August 15, 2017, CIMB is offering promotional interest of up to 1.08% p.a. (for 6 months) and 1.18% p.a. for 1 year. You need to deposit at least S$20,000 to benefit from this promotion.

    Get More Details on CIMC Fixed Deposit Rates

    Standard Chartered Fixed Deposit

    Standard Chartered offers a choice of two fixed deposit accounts with preferential interest rates for Priority Banking customers. The bank also offers additional features such as consolidated statements, phone banking and SC online banking services.

    Singapore Dollar Time Deposit Account
    • Minimum placement amount – S$5,000.
    • Flexible deposit tenures of 1 month, 3 months, 6 months, 9 months, 12 months, 15 months, 18 months, 24 months, 36 months, 48 months and 60 months.
    • Interest rates offered start from 0.05% p.a. up to 0.75% p.a.
    • Overdraft facility is available.
    • Automatic renewal upon maturity is available.
    • Minimum age to apply - 18 years old.
    Foreign Currency Fixed Deposit Account
    • Choose from the following currencies - Euro, British Pound, United States Dollar, Australian Dollar, New Zealand Dollar, Canadian Dollar (CAD), Hong Kong Dollar (HKD) and Renminbi Offshore (CNH).
    • Minimum placement amount for USD, GBP, AUD, EUR and NZD is 5,000 units.
    • Minimum placement amount for CAD, HKD, CHF and CNH is 25,000.
    • Deposit tenures include 1 week, 2 weeks, 1 month, 2 months, 3 months, 6 months and 12 months.
    • Interest rates offered range from 0% to 3.15% p.a. Euro deposits don’t earn any interest.
    • Overdraft facility is available.
    • Automatic renewal upon maturity is available.
    • Minimum age to apply - 18 years old.

    Get More Details on SC Fixed Deposit Rates

    Bank of China Fixed Deposits

    Choose between 10 different currencies with deposit insurance scheme for up to S$50,000 with tenures starting from 1 month.

    SGD Time Deposit Account
    • Minimum placement amount is S$5,000.
    • Deposit tenures include 1 month, 3 months, 6 months, 9 months, 12 months, 24 months and 36 months.
    • Interest rates offered start from 0.175% p.a. up to 0.95% p.a.
    • Minimum age to apply – 15 years old.
    • Deposit Insurance Scheme is available.
    Foreign Currency Time Deposit
    • Choose from the following currencies - Euro, British Pound(GBP), United States Dollar, Australian Dollar (AUD), New
      Zealand Dollar, Canadian Dollar (CAD), Hong Kong Dollar, Renminbi and Japanese Yen.
    • Minimum placement amount for EUR, NZD, AUD and CAD is 5,000 units.
    • Minimum placement amount for RMB is 3,000 units.
    • Minimum placement amount for USD and GBP is 2,000 units.
    • Minimum placement amount for HKD is 50,000 units.
    • Minimum placement amount for JPY is 500,000.
    • Minimum age to apply – 21 years old.
    • Deposit Insurance Scheme is available.
    • Interest rates offered range from 0.0001% p.a. to 2.3% p.a.
    RMB Time Deposit
    • Deposit tenures between 1 month and 12 months.
    • Singapore citizens, Permanent Residents and Foreigners are eligible to apply.
    • Minimum age to apply - 21 years old.
    • Deposit Insurance Scheme is available.

    Get More Details on Bank of China FD Rates

    DBS/POSB Fixed Deposits

    DBS and POSB offer Singapore Dollar Fixed Deposits and Foreign Currency Fixed Deposits to customers at attractive interest rates. Choose from flexible deposit tenures starting from 1 day and up to 60 months.

    Singapore Dollar Fixed Deposit Account
    • Minimum placement amount – S$1,000.
    • Option to use your fixed deposit as collateral to apply for other lines of credit.
    • Deposit tenures from 1 month to 12 months, 18 months, 24 months, 36 months, 48 months and 60 months.
    • Interest rates offered start from 0.05% p.a. up to 1.20% p.a.
    • Minimum age to apply – 12 years old.
    Foreign Currency Fixed Deposit Account
    • currencies Availble- EUR, GBP, USD, AUD,NZD, CAD, HKD, CNH, CHF and JPY.
    • Minimum placement amount – 5,000 units. For RMB,
      you need to have at least an equivalent of S$50,000 for foreign exchange conversion.
      Once the amount is converted to RMB,
      you can make multiple deposits of the same or different tenures with the equivalent of S$5,000.
    • Deposit tenures include 1 day, 1week, 1 month, 2 months, 3 months, 6 months and 12 months.
    • Interest rates offered range from 0% p.a. to 1.615% p.a. You will not earn any interest on Chinese offshore Renminbi, Japanese Yen and Euro deposits.
    • Minimum age to apply – 18 years old.

    Get More Details on DBS Fixed Deposit Rates

    Hong Leong Fixed Deposit

    Hong Leong Finance is currently one of the few banks in Singapore that offers special interest rates to senior citizen applicants. The bank also requires the lowest minimum placement amount across the island.

    Hong Leong Finance
    Deposit Account
    • Deposit tenures start from 1 week and extend up to 36 months.
    • Minimum deposit of S$500 for deposit tenures between 3 months and 36 months.
    • Minimum deposit of S$10,000 for deposit tenures of 1 month and 2 months.
    • Minimum deposit of S$100,000 for deposit tenure of 1 week.
    • Interest rates offered start from 0.10% p.a. up to 1.30% p.a.
    • Senior citizens will enjoy a bonus interest rate of 0.125% p.a. for tenures of 12 months and above.
    • Minimum age to apply – 15 years old.

    Get More Details on Hong Leong FD Rates

    Corporate or Company Fixed Deposits

    Corporate Fixed Deposits or Company Fixed Deposits are the type of deposits that are accepted by several financial institutions. Corporate Fixed Deposits are very similar to bank fixed deposits. They also have interest rates and a fixed tenure. Corporate Fixed Deposits generally offer interest rates that are much higher than the regular fixed deposits of banks. They are also a much riskier investment when compared to a personal fixed deposit.

    Under the schemes of Corporate Fixed Deposits, customers choose to deposit a particular sum of money with a certain company for a fixed tenure. The rate of interest remains fixed until the maturity period is reached. At the end of the holding period, the customers not only receive principal amount in return, but also, huge payouts as interests. The tenure of deposits can vary from 6 months to 7 years. Deposit certificates stating several important details including maturity date, interest rate, tenure, etc. are issued to the deposit holders by the companies. The interest that is earned on the company fixed deposits is taxable.

    Company Fixed Deposits are not guaranteed at all in case of default. Different agencies like ICRA and CRISIL award rating points to companies and their fixed deposit schemes. The frequency of compounding interest may vary. It could be annually, semi-annually, quarterly or monthly basis.

    Foreign Currency Fixed Deposit Schemes

    You can invest in a fixed deposit with over 10 different foreign currencies accepted by majority of banks in Singapore. Some foreign currencies earn higher interest rates than others. There are foreign currencies that do not earn any interest no matter which tenure you have chosen, making them just a savings option rather than an investment. Also, the longer tenure you choose, the higher will be your return on investment.
    Learn more about Foreign Currency FD Schemes in Singapore

    Advantages of Fixed Deposits

    • It is the safest investment to make and carries the least amount of risk when compared to other investment options.
    • It encourages and cultivates saving habits. The money in your fixed deposit account cannot be withdrawn for a particular tenure.
    • You know exactly how much return on investment you are getting as the interest rate is predetermined and fixed.
    • Interest rate may be paid monthly, annually or upon maturity, depending on the deposit tenure you have chosen.
    • You get to decide for how long you want to save your money. Fixed deposit tenures in Singapore range as low as 1 week and up to 60 months.
    • Fixed deposits are liquid assets; therefore you can prematurely withdraw your savings after a particular tenure. Depending on when you make the withdrawal, you will be entitled to an interest on a prorated basis.
    • You can hold more than 1 fixed deposit at the same time.

    Loan against Fixed Deposit

    If you are in need of funds for a small period of time, you can apply for a loan against your fixed deposit account, depending on the bank. When in need of money, people either prematurely liquidate a fixed deposit or go for personal loans. Personal loans can come with heavy interest rates and there are charges and penalty for prematurely liquidating a fixed deposit. Therefore, it is advisable to go for a loan against a fixed deposit as the rate of interest charged is lesser than the interest rate charged on personal loans.
    The amount of loan granted against a fixed deposit can be up to 90% of the total amount deposited in the FD account of the bank. However, beware that your loan term cannot exceed the tenure of the fixed deposit.

    Income Tax on Fixed Deposit

    The interest earned on your fixed deposit amount is not tax free. Just like how the tax slab for different people is different, similarly, the tax calculation on fixed deposits also varies depending upon the amount earned by the individual in that year.

    Fixed Deposit Eligibility

    • Singapore citizens, Permanent Residents and foreigners are eligible to open a fixed deposit account.
    • The minimum age to open a Singapore Dollar Fixed Deposit usually starts from 12 years onwards. However, applicants below the age of 18 must be accompanied by parents/legal guardians.
    • While some banks impose a maximum age of 55 years to open a fixed deposit account in Singapore, other banks such as Hong Leong bank offer bonus interest rates to senior citizens above the age of 55 years.

    Fixed Deposit Maturity Amount

    Upon the maturity of your fixed deposit, you will receive your principal placement amount/investment + the fixed rate of interest that was offered to you when you opened the FD account. The total of the principal placement amount together with the interest amount is called the maturity amount.

    Leading banks in Singapore are now offering Fixed Deposit Calculators so interested candidates can calculate how much interest they will earn if they open an FD account with a particular bank. Details such as FD amount and tenure must be keyed in to calculate the interest you will earn on your FD account.

    How to withdraw from your fixed deposit?

    Some banks in Singapore allow you to prematurely withdraw your fixed deposit account by charging you with a penalty for the same. This could mean lower interest or no interest on your deposit amount depending on how early you withdraw your deposit. You must contact your bank if you wish to prematurely withdraw your fixed deposit.

    Upon maturity, if you have provided a standing instruction to the bank to transfer your fixed deposit principal amount + interest into a bank account of your choice, the same will be done automatically. If you have not informed the bank regarding the transfer of your deposit, it may be automatically renewed for the same tenure or another tenure determined by the bank.

    Premature Withdrawal Charges

    Ideally, you should not withdraw your time or fixed deposits before they mature. But in certain circumstances like medical emergencies, you may be forced to do so. If you decide to do this, the bank may take steps to limit the interests payable to you depending on how soon you are pulling out the amount, besides imposing some penalties.

    For instance, with banks like Maybank, no interest will be paid if the money is withdrawn within three months of making the deposit. Post three months, interests may be provided on the number of days you have deposited the money, calculated with the lowest level of existing savings account rates. Others like DBS may pay you interest on quarters completed in a calendar year.

    Frequently Asked Questions on Fixed Deposit

    1. What is the minimum amount needed to open a fixed deposit in Singapore?
    2. The minimum amount to open a fixed deposit account in Singapore is S$500. This option is offered by Hong Leong.

    3. What documents should I submit when opening a fixed deposit account in Singapore?
    4. Singapore citizens and Permanent Residents must submit their NRIC. Foreigners must submit their Passport/Employment Pass/S Pass/Student Pass/Dependant's Pass. Address proof may be required.

    5. Can I open a fixed deposit account as a joint account holder?
    6. Yes. Fixed deposits can be opened solely or with a joint account holder.

    7. Can I open a fixed deposit account online?
    8. Yes. You can open a fixed deposit account online if the bank has online banking and offers this facility. For example, UOB allows for booking an online appointment for express fixed deposit account opening.

    9. Can corporates also open fixed deposit accounts?
    10. Yes. Many banks in Singapore offer Singapore Dollar Fixed Deposits and Foreign Currency Fixed Deposits to individuals and corporates alike.

    11. Do I have to pay tax for the interest that I gain from the fixed deposit account?

      A. If you have created a fixed deposit account with a licensed financial institution or an approved bank, you do not have to pay tax.

    12. Are fixed deposits better than Singapore Savings Bonds (SSB)?

      A. Singapore Savings Bonds (SSB) also provide you a higher interest rate when you lock in the amount for a longer tenor, say 10 years. However, fixed deposits offer a choice of tenors and various interest rates. With regard to SSBs, the interest rates only increase with time.

    13. Are Shariah-compliant fixed deposits available in Singapore?

      A. Yes, CIMB and Maybank offer Shariah-compliant Islamic fixed deposits in Singapore.

    14. Can I withdraw just the interest amount from my FD account?

      A. This depends on the kind of term deposit you hold, and the bank. Certain specific FD accounts offered by banks in Singapore allow you to withdraw just the interest accumulated over the deposit period.

    15. What is the Deposit Insurance Scheme?

      A. Your deposit amount with recognised banks is more or less secured. By law, the Singapore Deposit Insurance Corporation (SDIC) insures the amount up to S$50,000 per depositor per scheme. This means that your deposits up to this amount will be returned to you even if the bank closes down or any financial problem occurs to it. This insurance is available on the total deposits you have with a particular participating bank, excluding the CPF deposit schemes, which are separately insured for up to S$50,000.

    Fixed Deposits from Top Banks
    Foreign Currency Fixed Deposits from Top Banks
    Currency Specific Fixed Deposit
    US Dollar Foreign Currency Fixed Deposit by Bank
    Australian Dollar Foreign Currency Fixed Deposit by Bank
    GBP Foreign Currency Fixed Deposit by Bank
    NZD Foreign Currency Fixed Deposit by Bank
    Euro Foreign Currency Fixed Deposit by Bank
    Canadian Dollar Foreign Currency Fixed Deposit by Bank
    Fixed Deposit Promotion by Banks
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