If you can afford to stash it away for a longer period of 36 months, you can earn up to 2.2 per cent p.a.Įither way, it’s interest rates across the board are rather attractive and worth looking into regardless of the inconvenience of banking with a foreign bank. If you’re looking for a lower minimum deposit of $5,000, you can opt for a shorter fixed deposit tenure, the State Bank of India Singapore offers an interest rate of 1.6 per cent for a year. The State Bank of India Singapore’s interest rate is one of the highest amongst the banks here with its ongoing promotion of 2 per cent for 15 months (minimum $25,000). State Bank of India Singapore fixed deposit rates (July 2022) State Bank of India Singapore fixed deposit rate The exception is DBS’ fixed deposit rate, which is non-promotional. Note that most of these promotional interest rates, which change monthly and the bank can change the rates anytime. We’ve picked the highest fixed deposit rates for SGD in attainable deposit amounts (i.e. Best fixed deposit rates in Singapore (July 2022)

You’ll be happy to learn that the fixed deposit rates are looking up again! Fixed deposit interest rates took a hit during Covid-19 but now the rates are back to pre-Covid days! If you’ve been holding out for the interest rates to pick back up, now might be a good time to park your spare money with a bank. Fixed deposits are extremely low risk ways to grow your money. Seriously, though, fixed deposits are great if you have a substantial amount of money lying around and you don’t want to risk investing it. Just leave it out in the open and mould will grow - FREE! - on your bread for you. Think of it like mould on a piece of bread. You don’t need to do anything to earn this interest, just park your money with a bank.

Fixed deposit (sometimes called time deposit) accounts are low-risk investments that earn you interest over a fixed commitment period.

Ocbc fixed deposit rate 2021