To those who are not sure about Fixed Deposit, it's a type of an investments account that allows you to invest a lump of money for a fixed time period and at a fixed rate of interest. This type of investment is quite popular because it's known to be risk-free and has higher interest rates when compared to the regular savings account. CIMB SGD Fixed Deposit is, by far, one of the best options on the market for small and medium tenure deposits of any size. Jack in a pot rtp pot. Currently, you can earn an interest rate of 0.20% for 1 month tenure and 0.25% p.a. For 2 months tenure with a minimum placement of S$5,000.
Fixed deposits are ideal deposit scheme for people of all ages. However, the higher rate of interest is offered to senior citizen. Typically Fixed Deposit options are mainly considered by senior citizens who want to invest their money in Safe Avenue. The reason it is considered as most preferred is. For more information on the banks and credit unions offering the best 10-year rates, see our list of the best 10-year CD rates. A CD is a “time deposit” that pays a fixed interest rate for a specific length of time.
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Deposits have a much lower risk as compared to other volatile products. They offer a better peace of mind and a higher level of assurance that your money will always be there
Note: Terms & conditions apply for the following promotions. Be sure to read in detail before going in for it.
Best free spins no wagering games. In a heavily summarised definition:
- Fixed / Time deposits require you to place funds (usually fresh funds) in a account for a specified amount of time
- Incremental balance promotions require you to increase your average balance of your account from a defined period with fresh funds.
- Fresh funds refer to funds transferred from accounts outside the bank. Over-the-counter or machine cash deposits are usually fine too but do take note banks may charge for large cash deposits
Best Fixed Deposit Plan
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Best Fixed Deposit Rates
- Singapore Savings Bonds – Government Security; High p.a.; Min $500; Requires free CDP account; No penalty for early withdrawal; Interest payments every 6 months after issuance
- Maybank: Earn up to 1.0% p.a. with their latest time deposit rates from 2 October 2020**BEST for funds up to $1m**
- HSBC offers 1.10% p.a. for 24-mth Singapore Dollar Time Deposits (as of 2 Oct 2020)**BEST for funds up to $49,999**
- Singapore Savings Bond (SSB): Earn up to 0.97% p.a. in the latest bond – Apply by 23 Feb**BEST for lowest risk deposit up to $200,000**
Fixed Deposit Rates Comparison
Last updated 7 Feb 2021. Click these links for latest Fixed Deposit or Time Deposit Promo
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