First of all, I want to say a big thank you to all the visitors. I can see from the website traffic that FD rates are of great interest to many, and I would try to post new tables more often. Please continue to give me your feedback.
From your feedback, I have added two more financial institutions (FI), Hong Leong Finance and Singapura Finance. Please let me know if any other FIs with a strong track record of giving high interest rates should be featured.
FD interest rates have generally fallen, since the July reading.
Best in class Maybank and BOC are now offering only 0.35% for 3 months tenure (less than $50k) compared to 0.4% previously. CIMB now has the best rates for deposits of 1 year tenure, drawing with SBI and Maybank for some deposit sizes. 3 year tenures have held its best in class rate, from 1.25% to 1.35%, with Maybank coming in tops (drawing with RHB in the below $50k size). Our new entrants HLF and SF do offer attractive rates though they are not best in class for any tenures or deposit sizes.
You might also notice that some FIs, such as Citi, have a lower interest rate for a longer tenure compared with a shorter one. While this might fly in the face of what seems logical (longer tenures should command higher interest rates since your funds are committed for longer, though in a decreasing rate environment, it might not hold true), it is due to these FIs requiring funds only for that particular period and having too much funds for other periods. Hence it is important to do your homework before selecting an FI to park your fixed deposits at.
You might also notice that some FIs, such as Citi, have a lower interest rate for a longer tenure compared with a shorter one. While this might fly in the face of what seems logical (longer tenures should command higher interest rates since your funds are committed for longer, though in a decreasing rate environment, it might not hold true), it is due to these FIs requiring funds only for that particular period and having too much funds for other periods. Hence it is important to do your homework before selecting an FI to park your fixed deposits at.
My previous general comments still hold so for new visitors, please do take a look.
| SGD FD | Below $50,000 | $50,000-$99,999 | Remarks | ||||||
| 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% | iSAVvy FD |
| SBI | 0.300% | 0.450% | 0.700% | 1.100% | 0.350% | 0.550% | 0.800% | 1.150% | |
| BOC | 0.350% | 0.450% | 0.600% | 0.725% | 0.350% | 0.450% | 0.600% | 0.725% | |
| 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% | 0.200% | 0.350% | |||
| Citibank | 0.150% | 0.200% | 0.050% | 0.200% | 0.150% | 0.200% | 0.050% | 0.200% | |
| CIMB | 0.150% | 0.250% | 0.800% | 0.150% | 0.250% | 0.800% | |||
| StanChart | 0.100% | 0.200% | 0.350% | 0.420% | 0.100% | 0.200% | 0.350% | 0.420% | |
| RHB | 0.313% | 0.375% | 0.625% | 1.250% | 0.375% | 0.438% | 0.688% | 1.250% | |
| HSBC | 0.080% | 0.120% | 0.260% | 0.080% | 0.120% | 0.260% | HSBC Premier | ||
| HongLeong | 0.150% | 0.250% | 0.450% | 0.700% | 0.180% | 0.280% | 0.750% | 1.000% | |
| Singapura | 0.150% | 0.200% | 0.475% | 0.700% | 0.180% | 0.275% | 0.680% | 1.000% | |
| $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% | iSAVvy FD |
| SBI | 0.350% | 0.550% | 0.800% | 1.150% | 0.350% | 0.550% | 0.800% | 1.150% | |
| BOC | 0.350% | 0.450% | 0.600% | 0.725% | 0.350% | 0.450% | 0.600% | 0.725% | |
| 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% | 0.200% | 0.350% | |||
| Citibank | 0.150% | 0.200% | 0.050% | 0.200% | 0.150% | 0.200% | 0.050% | 0.200% | |
| CIMB | 0.230% | 0.400% | 0.800% | 0.230% | 0.400% | 0.800% | |||
| StanChart | 0.100% | 0.200% | 0.350% | 0.420% | 0.100% | 0.200% | 0.350% | 0.420% | |
| RHB | 0.375% | 0.500% | 0.750% | 1.250% | 0.375% | 0.500% | 0.750% | 1.250% | |
| HSBC | 0.080% | 0.120% | 0.260% | 0.080% | 0.120% | 0.260% | HSBC Premier | ||
| HongLeong | 0.180% | 0.280% | 0.790% | 1.000% | 0.180% | 0.280% | 0.790% | 1.000% | |
| Singapura | 0.180% | 0.275% | 0.680% | 1.000% | 0.180% | 0.275% | 0.680% | 1.000% | |
| Savings a/c | Type | Interest | Remarks | ||||||
| Maybank | Isavvy | 0.4484 | >$100k. Int over int approximated | ||||||
| StanChart | Esaver | 0.3 | >$200k | ||||||
| Updated | 26-Sep-11 | ||||||||
Additional Notes:
- 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 information only as guidance to help you narrow down your options for further research.
- If your deposit or time period is not in the table, please check the website of the financial institution (FI) directly.
- Each FI specifies its deposit size differently. I have chosen the most popular deposit sizes and time periods, to avoid cluttering the presentation of the information. The information is presented up to 3 decimal places – some FIs may have more than 3 decimal places in their offers.
- There are terms and conditions attached to each fixed deposit. Please read these carefully on the respective FI’s website or contact them. Fixed deposits may have penalties for early withdrawals.
- 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.
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