Best SGD FD rate

Saving money is an important way to begin or continue a financial journey. Einstein has reputedly said that compound interest is the most powerful force in the universe. Regardless of whether he actually spouted these words of wisdom, savings lay a foundation for security and investment. While we lament the rock-bottom interest rates, it is also a stimulant for corporates to borrow money and is a boost to corporate profitability.

Currently, it looks like State Bank of India and Maybank offers the best SGD fixed deposit rates. Red indicates best of class. Please contact the bank directly for its latest rate or promotions, and to make any deposits. Also note that bank deposits are only guaranteed up to a maximum of SGD 50,000 per bank (NOT per account), and so there can be tail-risk even in such a plain vanilla deposit.

I have included also some internet-based accounts, which has no lock-in periods to aid comparisons. For short-tenures, it might make absolutely no sense to use an FD.

SGD FD	Below $50,000				$50,000-$99,999
	3 months	6 months	1 year	3 years	3 months	6 months	1 year	3 years
Maybank	0.350%	0.500%	0.700%	1.250%	0.350%	0.500%	0.750%	1.300%
SBI	0.400%	0.450%	0.800%	1.000%	0.450%	0.550%	0.850%	1.050%
BOC		0.480%	0.980%			0.580%	1.080%
UOB	0.150%	0.250%	0.450%	0.700%	0.150%	0.250%	0.450%	0.700%
OCBC	0.150%	0.250%	0.450%	0.700%	0.150%	0.250%	0.450%	0.700%
DBS	0.150%	0.200%	0.350%		0.150%	0.250%	0.450%
Citibank	0.150%	0.250%	0.250%	0.350%	0.150%	0.250%	0.250%	0.350%
CIMB	0.150%	0.230%	0.800%		0.150%	0.230%	0.875%
StanChart	0.150%	0.250%	0.350%	0.750%	0.150%	0.250%	0.350%	0.750%
RHB	0.313%	0.375%	0.625%	1.250%	0.375%	0.438%	0.688%	1.250%
HSBC	0.180%	0.260%	0.450%		0.180%	0.260%	0.450%
	$100,000-$250,000				$250,000-$499,999
Maybank	0.350%	0.500%	0.750%	1.300%	0.350%	0.500%	0.800%	1.350%
SBI	0.450%	0.550%	0.850%	1.050%	0.450%	0.550%	0.850%	1.050%
BOC						0.680%	1.180%
UOB	0.150%	0.250%	0.450%	0.700%	0.150%	0.250%	0.450%	0.700%
OCBC	0.150%	0.250%	0.450%	0.700%	0.150%	0.250%	0.450%	0.700%
DBS	0.150%	0.250%	0.350%		0.150%	0.250%	0.350%
Citibank	0.150%	0.250%	0.250%	0.350%	0.150%	0.250%	0.250%	0.350%
CIMB	0.230%	0.400%	0.800%		0.230%	0.400%	0.800%
StanChart	0.150%	0.250%	0.350%	0.750%	0.150%	0.250%	0.350%	0.750%
RHB	0.375%	0.500%	0.750%	1.250%	0.375%	0.500%	0.750%	1.250%
HSBC	0.180%	0.260%	0.450%		0.180%	0.260%	0.450%
	$500,000-$999,999
Maybank	0.600%	0.720%	1.000%	1.850%
BOC		0.680%	1.180%
SBI	0.500%	0.600%	0.900%	1.100%
UOB	0.150%	0.250%	0.450%	0.700%
OCBC	0.150%	0.250%	0.450%	0.700%
DBS	0.150%	0.250%	0.450%	NA
Citibank	0.150%	0.250%	0.250%	0.350%
CIMB
StanChart	0.250%	0.250%	0.350%	0.950%
RHB	0.375%	0.500%	0.750%	1.250%
HSBC	0.180%	0.280%	0.510%	NA
Savings a/c	Type	Interest	Remarks
Maybank	Isavvy	0.475304	>$50k. Int over int approximated
StanChart	Esaver	0.35	>$200k
Updated	11-Jul-11

Notes:

1. I do try my best to get it right, but I do not guarantee that the accuracy of the information nor its validity. Please use the above only as guidance to help you narrow down your options for further research.
2. If your deposit or time period is not in the table, please check the website of the bank directly. Each bank specifies its deposit size differently. I have choosen the most popular deposit sizes and time periods, to avoid cluttering the presentation of the information.
3. There are terms and conditions attached to each fixed deposit. Please read these carefully on the respective bank's website or contact them. Fixed deposits may have penalties for early withdrawals.
6. Lastly, this is just a simple website. Please do not sue me. Please advise if there are any problems or suggestions at ChessCafeInvestments@gmail.com. I welcome your feedback.