• Singapura Finance Fixed Deposit Account

    Singapura Finance’s fixed deposit account, called Blue Sky Fixed Deposits not only provides a safe place to keep your money, but the account also rewards you with competitive rates of interest on your deposit amount. With this account, you can make use of a wide range of tenures. Moreover, the minimum deposit you must make to qualify for this account starts at S$500 and the minimum age requirement for the account is 15 years.

    Features and Benefits of This Account

    The key benefits and features of the Singapura Finance Fixed Deposit Account include:

    • You can enjoy attractive rates of interest up to 1% p.a. on the funds deposited.
    • This fixed deposit account provides a wide choice of tenures. You can choose a tenure starting from 1 month and up to 60 months.
    • You can apply for this account if you’re at least 15 years of age or more.
    • If you’re making a deposit for a period of 1 month, you have to keep a minimum sum of S$5,000. You can deposit a minimum amount of S$500 if you’re applying for a tenure of 3 months or above.

    What Interest Rates Are Offered

    The interest rates for Singapura Blue Sky Fixed Deposit are illustrated in the table below:

    Tenure of deposit Interest rate for amount less than S$50,000 Interest rate for amount standing at S$50,000 or more
    1-2 months 0.30% p.a. 0.35% p.a.
    3-5 months 0.50% p.a. 0.60% p.a.
    6-8 months 0.60% p.a. 0.75% p.a.
    9-11 months 0.60% p.a. 0.75% p.a.
    12 months 0.60% p.a. 0.75% p.a.
    15 months 0.70% p.a. 0.75% p.a.
    18 months 0.70% p.a. 0.875% p.a.
    21 months 0.70% p.a. 0.875% p.a.
    24 months 0.70% p.a. 0.925% p.a.
    27, 30, 33 months 0.70% p.a. 0.925% p.a.
    36 months 0.70% p.a. 1% p.a.
    39, 42, 45 months 0.70% p.a. 1% p.a.
    48 months 0.70% p.a. 1% p.a.
    51, 54, 57 months 0.70% p.a. 1% p.a.
    60 months 0.70% p.a. 1% p.a.

    Fees & Charges

    The various fees and charges associated with this account are illustrated in the table below:

    Type of fee Fees charged
    Fee for statement of account No fee for current and the latest past year
    Fee for statement of account (past years) Flat fee of S$50
    Fee for confirmation on estate account S$50 for each account (capped at S$200)
    Early closure fee S$15
    Fee against loss of passbook S$10
    Cash charge for deposit fee
    • No fee on the first S$25,000
    • Extra S$5 will be applicable on every S$5,000 or part thereof, for any sum exceeding S$25,000
    Audit confirmation fee S$50 for each account (capped at S$200)

    Who Is Eligible to Open This Account?

    The following eligibility criteria must be met if to apply for this fixed deposit account:

    • You must be a Singapore citizen, a permanent resident, or a foreigner.
    • You must be at least 15 years of age or above.

    What Documents You Would Need

    The following documents have to be submitted in order for your application to be approved:

    • Singapore citizens and permanent residents have to submit a copy of their NRIC.
    • Foreigners must submit a copy of their Passport along with a copy of the Employment Pass or Work Permit.

    How to Apply for the Singapura Finance Fixed Deposit Account

    You can apply for this fixed deposit account by simply visiting one of the customer centres. You must also carry along the documents required at the time of application.

    FAQs

    Q. Will the Deposit Insurance Scheme be applicable when I apply for the Singapura Finance Fixed Deposit Account?

    A. Yes, the Singapore Deposit Insurance Corporation provides insurance for all Singapore dollar deposits of non-bank depositors.

    Q. What is the coverage provided for this fixed deposit account by Singapore Deposit Insurance Corporation?

    A. The Deposit Insurance Scheme provided by SDIC covers for up to S$50,000 in total for each depositor per scheme member.

    Q. Will any extra interest be offered to account holders who are senior citizens if they apply for deposits?

    A. Yes, an additional interest will be offered on this fixed deposit account if you’re a senior citizen who has applied for deposits with a tenure of 9 months or more.

    Q. What is the additional interest offered in case of senior citizens applying for deposits with a tenure of 9 months or more?

    A. An additional interest rate of 0.125% p.a. will be offered in case of senior citizens who apply for deposits with a tenure of 9 months or above.

    Q. How can I get in touch with Singapura Finance if I have any queries regarding their fixed deposit account?

    A. You can contact Singapura Finance in case you have queries in one of the following ways:

    • You can directly call on the customer care helpline from Mondays to Fridays between 9:00 a.m. and 4:30 p.m. You can also call on Saturdays between 9:00 a.m. and 12:00 p.m.
    • You can also get in touch with Singapura Finance through an email. However, you must complete the online form before you contact them with your queries.
    • Alternately, you can find the closest customer centre and walk in directly.
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