• Benefits of Fixed Deposit Investments in Singapore

    What is a Fixed Deposit?

    In simple words, fixed deposits, also referred to as time deposits are investments that you earn an interest on after a predetermined or fixed tenure. It is one of the easiest as well as the smartest way to earn interest because once you deposit the money to a bank, your job is done. It is like when you hand over your car to a valet who then completes the work for you and at the end of the night, fetches your car for you. Deposit your money for a fixed period and you will earn an interest at the end of your tenure.

    Advantages of Fixed Deposits

    • Fixed deposits always offer guaranteed returns. This is a striking advantage for investing in an FD because, as an investor you do not need to worry about the safety of your investment and wonder what your return will be. Even before you hand over your money to a bank, the bank will give you a quote and an interest rate which will have the exact figure of your return. A fixed deposit, offers far more security with a promising return when compared to the commodity market or the stock market so you can sleep peacefully at night.
    • Fixed Deposit offers a higher rate of interest when compared to a savings account. It is obvious that you would want an option for investment that promises the highest return with you having to put in minimal effort. A fixed deposit helps you do just that. The longer you choose to invest your money, the better your return will be.
    • Your fixed deposit is your secured last resort on which you can fall back at any time. Due to the liquid nature of these deposits, you have the liberty to withdraw your money whenever you want for varied reasons such as business expansion, marriage, sickness etc. It is true that when you withdraw your fixed deposit prematurely, you will incur some loss in terms of your interest in form of a penalty, but this is still a much safer option than selling real estate, stocks or shares as it cannot be done immediately due to their high value.
    • You can choose for how long you want to invest your money and how much money you want to invest. Fixed deposits are very flexible providing you an array of options for your investment tenure. Your fixed deposit tenure can last for 1 month or 10 years, maybe more depending on which bank or financial institution you choose, where you can decide how long your money will stay invested.
    • Depending on what goals you have, you can even split your money and opt to have more than one fixed deposit account with different tenures and incur separate interest on each of them.
    • It also helps inculcate a habit of saving because the amount that you deposit is as good as amount that you save because it will be in your account for a significant period without you making a withdrawal except under emergency scenario.

    Find below the interest rates for Fixed Deposits of some of the leading banks in Singapore –

    United Overseas Bank Fixed Deposit (UOB) Interest Rate Structure - Singapore Dollar Fixed Deposit

    Deposit Range (% per annum) 1 Month 2 Months 3 Months 4 Months 5 Months 6 Months 7 Months 8 Months
    Below SGD 50,000* 0.0500 percent 0.0500 percent 0.1000 percent 0.1000 percent 0.1000 percent 0.1500 percent 0.1500 percent 0.1500 percent
    SGD 50,000 – SGD 249,999 0.0500 percent 0.0500 percent 0.1000 percent 0.1000 percent 0.1000 percent 0.1500 percent 0.1500 percent 0.1500 percent
    SGD 250,000 – SGD 499,999 0.0500 percent 0.0500 percent 0.1000 percent 0.1000 percent 0.1000 percent 0.1500 percent 0.1500 percent 0.1500 percent
    SGD 500,000 – SGD 999,999 0.0500 percent 0.0500 percent 0.1000 percent 0.1000 percent 0.1000 percent 0.1500 percent 0.1500 percent 0.1500 percent
    Deposit Range (% per annum) 9 Months 10 Months 11 Months 12 Months 18 Months 24 Months 36 Months
    Below SGD 50,000* 0.2000 percent 0.2000 percent 0.2000 percent 0.2500 percent 0.5000 percent 0.7000 percent 1.000 percent
    SGD 50,000 – SGD 249,999 0.2000 percent 0.2000 percent 0.2000 percent 0.2500 percent 0.5000 percent 0.7000 percent 1.000 percent
    SGD 250,000 – SGD 499,999 0.2000 percent 0.2000 percent 0.2000 percent 0.2500 percent 0.5000 percent 0.7000 percent 1.000 percent
    SGD 500,000 – SGD 999,999 0.2000 percent 0.2000 percent 0.2000 percent 0.2500 percent 0.5000 percent 0.7000 percent 1.000 percent

    *Please note that a minimum SGD 5000 deposit is required in Cash or CPF Placements. CPF Placements will not be applicable for Far Eastern Bank Limited.

    DBS Bank Interest Rate Structure – Singapore Dollar Fixed Deposit (Cash)

    Fixed Deposit Tenure SGD 1,000-
    SGD 9,999
    SGD 10,000-
    SGD 19,999
    SGD 20,000-
    SGD 49,999
    SGD 50,000-
    SGD 99,999
    SGD 100,000-
    SGD 249,999
    SGD 250,000-
    SGD 499,999
    SGD 500,000-
    SGD 999,999
    1 Month 0.0500 % 0.0500 % 0.0500 % 0.0500 % 0.0500 % 0.0500 % 0.0500 %
    2 Months 0.0500 % 0.0500 % 0.0500 % 0.0500 % 0.0500 % 0.0500 % 0.0500 %
    3 Months 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 %
    4 Months 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 %
    5 Months 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 % 0.1500 %
    6 Months 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 %
    7 Months 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 %
    8 Months 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 % 0.2000 %
    9 Months 0.2500% 0.2500% 0.2500% 0.2500% 0.2500% 0.2500% 0.2500%
    10 Months 0.2500% 0.2500% 0.2500% 0.2500% 0.2500% 0.2500% 0.2500%
    11 Months 0.2500% 0.2500% 0.2500% 0.2500% 0.2500% 0.2500% 0.2500%
    12 Months 0.3500 % 0.3500 % 0.3500 % 0.3500 % 0.3500 % 0.3500 % 0.3500 %
    18 Months 0.8000 % 0.8000 % 0.8000 % 0.8000 % 0.8000 % 0.8000 % 0.8000 %
    24 Months 1.0000% 1.0000% 1.0000% 1.0000% 1.0000% 1.0000% 1.0000%
    36 months 1.1000 1.1000 1.1000 1.1000 1.1000 1.1000 1.1000
    48 months 1.1500 1.1500 1.1500 1.1500 1.1500 1.1500 1.1500
    60 months 1.2000 1.2000 1.2000 1.2000 1.2000 1.2000 1.2000

    OCBC Bank – SGD Fixed Deposit Interest Rate Structure

    • For a fixed deposit amount between SGD 5000 and SGD 20, 000
    1 - 2 months 0.0500 % p.a.
    3 - 5 months 0.1000 % p.a.
    6 months 0.1500 % p.a.
    7 - 8 months 0.1500 % p.a.
    9 – 11 months 0.2000 % p.a.
    12 – 14 months 0.2500 % p.a.
    15 months 0.5500 % p.a.
    18 months 0.5500 % p.a.
    24 months 0.5500 % p.a.
    36 months 0.6500 % p.a.
    48 months 1.2500 % p.a.
    • For a Fixed Deposit amount greater than SGD 20,000 and up to SGD 50, 000
    1 - 2 months 0.0500 % p.a.
    3 - 5 months 0.1000 % p.a.
    6 months 0.1500 % p.a.
    7 - 8 months 0.1500 % p.a.
    9 – 11 months 0.2000 % p.a.
    12 – 14 months 0.2500 % p.a.
    15 months 0.5500 % p.a.
    18 months 0.5500 % p.a.
    24 months 0.5500 % p.a.
    36 months 0.6500 % p.a.
    48 months 1.2500 % p.a.
    • For a fixed deposit amount greater than SGD 50, 000 and up to SGD 99, 999
    1 - 2 months 0.0500 % p.a.
    3 - 5 months 0.1000 % p.a.
    6 months 0.1500 % p.a.
    7 - 8 months 0.1500 % p.a.
    9 – 11 months 0.2000 % p.a.
    12 – 14 months 0.2500 % p.a.
    15 months 0.5500 % p.a.
    18 months 0.5500 % p.a.
    24 months 0.5500 % p.a.
    36 months 0.6500 % p.a.
    • For a fixed deposit amount greater than SGD 100, 000 and up to SGD 249, 999
    1 - 2 months 0.0500 % p.a.
    3 - 5 months 0.1000 % p.a.
    6 months 0.1500 % p.a.
    7 - 8 months 0.1500 % p.a.
    9 – 11 months 0.2000 % p.a.
    12 – 14 months 0.2500 % p.a.
    15 months 0.5500 % p.a.
    18 months 0.5500 % p.a.
    24 months 0.5500 % p.a.
    36 months 0.6500 % p.a.
    • For a fixed deposit amount greater than S$ 250, 000 and up to S$ 499, 999
    1 - 2 months 0.0500 % p.a.
    3 - 5 months 0.1000 % p.a.
    6 months 0.1500 % p.a.
    7 - 8 months 0.1500 % p.a.
    9 – 11 months 0.2000 % p.a.
    12 – 14 months 0.2500 % p.a.
    15 months 0.5500 % p.a.
    18 months 0.5500 % p.a.
    24 months 0.5500 % p.a.
    36 months 0.6500 % p.a.
    • For a fixed deposit amount greater than S$ 500, 000 and up to S$ 999, 999
    1 - 2 months 0.0500 % p.a.
    3 - 5 months 0.1000 % p.a.
    6 months 0.1500 % p.a.
    7 - 8 months 0.1500 % p.a.
    9 – 11 months 0.2000 % p.a.
    12 – 14 months 0.2500 % p.a.
    15 months 0.5500 % p.a.
    18 months 0.5500 % p.a.
    24 months 0.5500 % p.a.
    36 months 0.6500 % p.a.
    Fixed Deposits from Top Banks
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    Currency Specific Fixed Deposit
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    Australian Dollar Foreign Currency Fixed Deposit by Bank
    GBP Foreign Currency Fixed Deposit by Bank
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    Fixed Deposit Promotion by Banks
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