If you are looking for a fixed deposit to park your excess funds, you can invest in SIF Fixed Deposit scheme as it offers competitive interest rates and flexible tenures.
Types of fixed deposit Schemes Offered by SIF
At present, Sing Investments & Finance Limited offers a single deposit scheme in Singapore. It is a scheme which has been designed to provide people with a means to save money and also earn interest on the deposit amount. The customers are given access to a ton of features when they opt for the SIF Fixed Deposit scheme.
Why choose SIF Fixed Deposit scheme?
If you want to save money and also earn decent interest on your deposit, you can opt for the time deposit scheme offered by Sing Investments & Finance Limited. By having a fixed deposit account with SIF, you can save money as well as enjoy numerous features. The interest rate offered is comparatively high and you will also benefit from flexible tenures. The process of opening a fixed deposit account is very simple and if you have any queries or concerns, you can easily get in touch with the customer support team of SIF and they will offer immediate assistance.
Features and Benefits of SIF Fixed Deposit scheme
The features and benefits offered by SIF Fixed Deposit scheme are as follows:
- Enjoy the flexibility of depositing an amount of more than S$50,000.
- Enjoy interest rate of up to 1.2% p.a. on the deposit amount.
- Senior citizens will earn an additional interest on the deposit amount of up to 0.125% p.a.
- Enjoy flexible tenures from 1 month to 60 months.
- The deposit will be renewed automatically at the end of the tenure without you having to pay a visit to the branch.
- As SIF has 4 strategically located branches, you can visit any one of them and open a deposit account.
SIF Fixed Deposit Rates 2018
SIF Fixed Deposit Singapore Dollar Interest Rates
|Less than S$50,000||S$50,000 and more|
|1 month||0.125% p.a.||0.3% p.a.|
|3 months||0.25% p.a.||0.6% p.a.|
|6 months||0.3% p.a.||0.75% p.a.|
|9 months||0.4% p.a.||0.8% p.a.|
|12 months||0.45% p.a.||0.875% p.a.|
|15 months||0.5% p.a.||0.9% p.a.|
|24 months||0.7% p.a.||1% p.a.|
|36 months||0.7% p.a.||1.2% p.a.|
|48 months||0.7% p.a.||1.2% p.a.|
|60 months||0.7% p.a.||1.2% p.a.|
SIF Fixed Deposit Eligibility and Documentation
Please get in touch with the customer support team of Sing Investments & Finance Limited or visit any of their branches to know about the eligibility criteria and the documents required for opening a fixed deposit account with SIF.
SIF Deposit Insurance Scheme
The customers who make a deposit in Singapore Dollars will be eligible for the Deposit Insurance Scheme powered by the Singapore Deposit Insurance Corporation for deposits of up to S$50,000 in aggregate for each depositor. However, deposits in foreign currencies or dual currency deposits are eligible for this insurance cover.
Other products offered by Sing Investments & Finance Limited
Sing Investments & Finance Limited offers the following banking and financial products/ services, other than fixed deposits:
- Car Loans
- Block Discounting Facility
- Machinery Financing
- Conveyancing Account
- Share Loan
- Shipping Loan
- Housing Loan
- Local Enterprise Finance Scheme (LEFS)
- Savings Account
- Safe Deposit Box
- Invoice Factoring or Account Receivables
Frequently Asked Questions (FAQs)
- What are the tenures available with SIF Fixed Deposit Insurance Scheme?
- Does SIF offer any additional benefit to senior citizens with its Fixed Deposit scheme?
- Where are the branches of Sing Investments & Finance Limited located? In which branch can I open a deposit account?
- I want to deposit an amount of S$55,000. Will I be eligible for the Deposit Insurance Scheme?
- I want to open a fixed deposit account with SIF. Can I make a deposit in US Dollars?
The tenures available with the SIF Fixed Deposit Scheme are as follows: 1 month, 3 months, 6 months, 9 months, 12 months, 24 months, 36 months, 48 months and 60 months.
Yes, senior citizens earn additional interest at the rate of 0.125% above the interest rate offered to other depositors, for tenures of 12 months and above.
The branches of Sing Investments & Finance Limited are located on Robinson Road (main branch), Ang Mo kio Ave, Bedok North Street and Clementi Ave. You can open a deposit account in any of these branches.
No, you will not be eligible for the Deposit Insurance Scheme if you deposit S$55,000 as it only covers deposits up to S$50,000 per depositor.
No, you cannot make a deposit in US Dollars as SIF only accepts deposits made in Singapore Dollars and not in any other currency.
SIF Fixed Deposit Promotion
With this fixed deposit scheme, you will be eligible for promotional offers in the form of daily special rates as mentioned in the table below:
|Tenure||3 Months||12 Months||24 Months|
|Rate of interest||0.85%||1.40%||1.50%|
However, you will have to deposit at least S$50,000 for 3 to 12 months tenure and S$20,000 for 24 months.
News about SIF Fixed Deposit
SIF Fixed Deposit Promotion
Run Time – This is an ongoing offer.
Particulars – Make a Fixed Deposit with Sing Investments & Finance Ltd and avail higher rates of interest.
•If you deposit an amount of SGD 10, 000 you will get an interest of 1.28 percent p.a. for one year, 1.38 percent p.a. for two years and 1.48 percent for 3 years
•If you deposit an amount of SGD 20, 000 you will get an interest of 1.50 percent p.a. for one year, 1.58 percent p.a. for two years and 1.68 percent for 3 years
•If you deposit an amount of SGD 50, 000 you will get an interest of 1.70 percent p.a. for one year, 1.88 percent p.a. for two years and 1.90 percent for 3 years
•If you deposit an amount of SGD 100, 000 you will get an interest of 1.80 percent p.a. for one year, 1.95 percent p.a. for two years and 2 percent for 3 years
Terms and Conditions –
•This offer is available for personal accounts and fresh funds only
To get more information about the offer and its terms and conditions, please contact Sing Investments and Finance Ltd or visit their website.