For Singaporeans looking for a trusted, low-risk option to grow their wealth and keep pace with inflation, fixed deposits, also known as time deposits, can be a compelling option. But what is a fixed deposit? Fixed deposits are investment vehicles that provide a boost to your savings. By placing a lump sum with a bank or finance institution for a fixed tenure (such as 1, 3, 6, or 12 months), you lock in a stated interest rate and can estimate your returns with clarity, provided you hold the deposit to maturity.
This article is updated monthly. As of April, the best fixed deposit in Singapore is HL Bank’s 6-month fixed deposit, which offers 1.50% p.a. with a minimum placement of S$10,000. Other competitive rates are also available, though some depend on factors such as minimum deposits, channel placement, or customer tier.
In this article, we compare fixed deposit rates in Singapore and share what you need to look out for when evaluating a fixed deposit. We will also highlight credible low-risk alternatives for those exploring other conservative ways to park cash.
Quick Summary
- Best overall fixed deposit this month: HL Bank 6-month fixed deposit at 1.50% p.a. with a minimum deposit of S$10,000.
- Best 1-month fixed deposit: Bank of China (Mobile Banking Promo) at 1.10% p.a. with minimum deposit of S$500.
- Best 3-month fixed deposit: RHB (Premier Banking Promo) at 1.40% p.a. with a minimum deposit of S$20,000.
- Best 9-month fixed deposit: CIMB (Preferred Banking Online Promo) at 1.35% p.a. with a minimum deposit of S$10,000.
- Best 12-month fixed deposit: RHB (Premier Banking Promo) at 1.50% p.a. with a minimum deposit of S$20,000.
- Lowest minimum deposit among featured banks: S$500, available from Bank of China (mobile banking) and ICBC (e-banking).
- Looking for a no-minimum alternative? Syfe Cash+ Guaranteed offers fixed-tenure returns with no minimum deposit and no fees.
Table of contents
- Best Fixed Deposit (FD) Promotion Rates in Singapore [April 2026]
- Overview of Current Fixed Deposit (FD) Promotions in Singapore [April 2026]
- How to Choose The Right Fixed Deposit (FD) in Singapore
- Fixed Deposits vs Other Low-Risk Investments: What’s Best for You?
- More Ways to Grow Your Money with Syfe
- Frequently Asked Questions (FAQs)
Best Fixed Deposit (FD) Promotion Rates in Singapore [April 2026]
Here’s a quick summary of the highest fixed deposit promotional rates currently offered by each bank, along with the corresponding tenure and minimum deposit required.
| Bank | Tenure | Interest rate p.a. | Minimum Deposit |
| HL Bank (Online, Fresh Funds Promo) | 6 months | 1.50% | S$10,000 |
| RHB (Premier Banking Promo) | 6 months | 1.50% | S$20,000 |
| Bank of China (Mobile Banking Promo) | 12 months | 1.40% | S$20,000 |
| ICBC (E-Banking Promo) | 12 months | 1.40% | S$200,000 and above |
| CIMB (Preferred Banking, Online Promo) | 6 months | 1.35% | S$10,000 |
| SBI | 6 months | 1.35% | S$50,000 (max S$999,999) |
| Maybank (Deposits Bundle Promo) | 9 months | 1.32% | S$20,000 |
| GXS (Boost Pocket) | 12 months | 1.30% | S$100 (max S$95,000) |
| HSBC (Premier Elite) | 3 months | 1.30% | S$5,000 |
| MariBank | 12 months | 1.30% | S$100 (max S$100,000) |
| Maybank (Standalone Time Deposit) | 6 months | 1.30% | S$20,000 |
| Hong Leong Finance (Online Promo) | 9 / 12 months | 1.28% | S$20,000 and above |
| SingFinance (Online) | 3 months | 1.25% | S$10,000 |
| UOB (With Wealth Holdings, Fresh Funds Promo) | 6 months | 1.25% | S$10,000 |
| Citibank (Citigold, Fresh Funds Promo) | 3 months | 1.20% | S$250,000 (max S$10,000,000) |
| Standard Chartered (Personal Private, Fresh Funds Promo) | 9 months | 1.20% | S$25,000 |
| UOB (Without Wealth Holdings, Fresh Funds Promo) | 6 months | 1.20% | S$10,000 |
| OCBC (Online) | 12 months | 1.10% | S$20,000 |
| HSBC (Premier without Wealth Holdings) | 12 months | 0.95% | S$5,000 |
Looking for a Simpler Way to Park Cash?
If you want fixed-tenure returns without minimum deposit requirements, Syfe Cash+ Guaranteed offers up to 1.20% p.a. across 1-, 3-, 6-, and 12-month tenures, with no minimum deposit and no fees.
Overview of Current Fixed Deposit Promotions in Singapore [April 2026]
FD rates in Singapore vary not just by bank or finance institutions, but also by tenure, placement channel, fresh funds and minimum deposit amount. In this section, we compare the latest bank offers and key details to help you find the most suitable fixed deposit for your needs.
| Bank | Tenure | Interest Rate p.a. | Minimum Deposit |
| Bank of China (Mobile Banking Promo) | 1 month | 1.10% | S$500 |
| 3 months | 1.30% | S$500 | |
| 6 months | 1.30% | S$500 | |
| 9 months | 1.32% | S$500 | |
| 9 months | 1.35% | S$20,000 | |
| 12 months | 1.35% | S$500 | |
| 12 months | 1.40% | S$20,000 | |
| CIMB (Personal Banking, Online Promo) | 3 months | 1.25% | S$10,000 |
| 6 months | 1.30% | S$10,000 | |
| 9 months | 1.30% | S$10,000 | |
| 12 months | 1.30% | S$10,000 | |
| CIMB (Preferred Banking, Online Promo) | 3 months | 1.30% | S$10,000 |
| 6 months | 1.35% | S$10,000 | |
| 9 months | 1.35% | S$10,000 | |
| 12 months | 1.35% | S$10,000 | |
| Citibank (Citigold, Fresh Funds Promo) | 3 months | 1.15% | S$10,000 (max S$249,999) |
| 3 months | 1.20% | S$250,000 (max S$10,000,000) | |
| 6 months | 1.05% | S$10,000 (max S$249,999) | |
| 6 months | 1.10% | S$250,000 (max S$10,000,000) | |
| GXS (Boost Pocket) | 1 month | 1.01% | S$100 (max S$95,000) |
| 3 months | 1.22% | S$100 (max S$95,000) | |
| 12 months | 1.30% | S$100 (max S$95,000) | |
| HL Bank (Online, Fresh Funds Promo) | 6 months | 1.50% | S$10,000 |
| 12 months | 1.30% | S$10,000 | |
| HL Bank (Counter, Fresh Funds Promo) | 6 months | 1.45% | S$100,000 |
| 12 months | 1.25% | S$100,000 | |
| Hong Leong Finance (Counter Promo) | 6 months | 1.20% | S$20,000 and above |
| 9 months | 1.25% | S$20,000 and above | |
| 12 months | 1.25% | S$20,000 and above | |
| Hong Leong Finance (Online Promo) | 6 months | 1.20% | S$5,000 (max S$19,999) |
| 6 months | 1.25% | S$20,000 and above | |
| 9 / 12 months | 1.25% | S$5,000 (max S$19,999) | |
| 9 / 12 months | 1.28% | S$20,000 and above | |
| HSBC (Premier Elite) | 3 months | 1.30% | S$5,000 |
| 6 months | 1.20% | S$5,000 | |
| 9 months | 1.25% | S$5,000 | |
| 12 months | 1.30% | S$5,000 | |
| HSBC (Premier with Wealth Holdings, or Premier FX Engaged) | 3 months | 1.25% | S$5,000 |
| 6 months | 1.15% | S$5,000 | |
| 9 months | 1.20% | S$5,000 | |
| 12 months | 1.25% | S$5,000 | |
| HSBC (Premier without Wealth Holdings) | 3 months | 0.75% | S$5,000 |
| 6 months | 0.85% | S$5,000 | |
| 9 months | 0.85% | S$5,000 | |
| 12 months | 0.95% | S$5,000 | |
| HSBC (Personal Banking) | 3 months | 0.70% | S$5,000 |
| 6 months | 0.80% | S$5,000 | |
| 9 months | 0.80% | S$5,000 | |
| 12 months | 0.90% | S$5,000 | |
| ICBC (Counter Promo) | 1 month | 1.05% | S$20,000 |
| 3 months | 1.25% | S$20,000 | |
| 6 months | 1.25% | S$20,000 | |
| 9 months | 1.25% | S$20,000 (max S$199,999) | |
| 9 months | 1.30% | S$200,000 and above | |
| 12 months | 1.30% | S$20,000 (max S$199,999) | |
| 12 months | 1.35% | S$200,000 and above | |
| ICBC (E-Banking Promo) | 1 month | 1.05% | S$500 (max S$19,999) |
| 1 month | 1.10% | S$20,000 and above | |
| 3 months | 1.25% | S$500 (max S$19,999) | |
| 3 months | 1.30% | S$20,000 and above | |
| 6 months | 1.30% | S$500 and above | |
| 9 months | 1.10% | S$500 (max S$19,999) | |
| 9 months | 1.30% | S$20,000 (max S$199,999) | |
| 9 months | 1.35% | S$200,000 and above | |
| 12 months | 1.15% | S$500 (max S$19,999) | |
| 12 months | 1.35% | S$20,000 (max S$199,999) | |
| 12 months | 1.40% | S$200,000 and above | |
| MariBank | 1 month | 1.00% | S$5,000 (max S$50,000) |
| 3 months | 1.10% | S$100 (max S$100,000) | |
| 6 months | 1.20% | S$100 (max S$100,000) | |
| 12 months | 1.30% | S$100 (max S$100,000) | |
| Maybank (Deposits Bundle Promo) | 9 months | 1.32% | S$20,000 |
| 12 months | 1.32% | S$20,000 | |
| Maybank (Standalone Time Deposit) | 6 months | 1.30% | S$20,000 |
| 9 months | 1.30% | S$20,000 | |
| 12 months | 1.30% | S$20,000 | |
| OCBC (Counter) | 12 months | 1.05% | S$20,000 |
| OCBC (Online) | 12 months | 1.10% | S$20,000 |
| RHB (Personal Banking Promo) | 3 months | 1.30% | S$20,000 |
| 6 months | 1.40% | S$20,000 | |
| 12 months | 1.40% | S$20,000 | |
| RHB (Premier Banking Promo) | 3 months | 1.40% | S$20,000 |
| 6 months | 1.50% | S$20,000 | |
| 12 months | 1.50% | S$20,000 | |
| SBI | 6 months | 1.35% | S$50,000 (max S$999,999) |
| SingFinance (Online) | 1 month | 1.00% | S$1,000 (max S$9,999) |
| 1 month | 1.05% | S$10,000 | |
| 3 months | 1.20% | S$1,000 (max S$9,999) | |
| 3 months | 1.25% | S$10,000 | |
| 6 months | 1.20% | S$1,000 (max S$9,999) | |
| 6 months | 1.25% | S$10,000 | |
| 12 months | 1.20% | S$1,000 (max S$9,999) | |
| 12 months | 1.25% | S$10,000 | |
| SingFinance (Counter) | 1 month | 1.00% | S$10,000 |
| 3 months | 1.20% | S$10,000 | |
| 6 months | 1.20% | S$10,000 | |
| 12 months | 1.20% | S$10,000 | |
| Standard Chartered (Personal Banking, Fresh Funds Promo) | 9 months | 1.10% | S$25,000 |
| Standard Chartered (Priority Banking, Fresh Funds Promo) | 9 months | 1.15% | S$25,000 |
| Standard Chartered (Personal Private, Fresh Funds Promo) | 9 months | 1.20% | S$25,000 |
| UOB (With Wealth Holdings, Fresh Funds Promo) | 6 months | 1.25% | S$10,000 |
| 12 months | 1.25% | S$10,000 | |
| UOB (Without Wealth Holdings, Fresh Funds Promo) | 6 months | 1.20% | S$10,000 |
| 12 months | 1.20% | S$10,000 |
HL Bank Fixed Deposit Rates [April 2026]
HL Bank Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.10% | S$10,000 (online)S$100,000 (counter) |
| 3 months | 0.20% | S$10,000 (online)S$100,000 (counter) |
| 6 months | 0.30% | S$10,000 (online)S$100,000 (counter) |
| 12 months | 0.40% | S$10,000 (online)S$100,000 (counter) |
HL Bank Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Online* | 6 months | 1.50% | S$10,000 |
| Online* | 12 months | 1.30% | S$10,000 |
| Counter | 6 months | 1.45% | S$100,000 |
| Counter | 12 months | 1.25% | S$100,000 |
HL Bank is currently offering a promotional interest rate of 1.50% p.a. and 1.30% p.a. for a 6-month and 12-month fixed deposit respectively for online banking customers. Apply via HLB Connect and place a minimum of S$10,000 to access those rates.Find out more about HL Bank’s rates here.
Bank of China Fixed Deposit Rates [April 2026]
Bank of China Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.50% | S$0 (Max S$499,999) |
| 3 months | 0.65% | S$0 (Max S$499,999) |
| 6 months | 0.75% | S$0 (Max S$499,999) |
| 9 months | 0.85% | S$0 (Max S$499,999) |
| 12 months | 0.90% | S$0 (Max S$499,999) |
Bank of China Promotion Rates
| Tenor | Interest Rate p.a. | Minimum Deposit |
| 1 month | 1.10% | S$500 |
| 3 months | 1.30% | S$500 |
| 6 months | 1.30% | S$500 |
| 9 months | 1.32% | S$500 |
| 9 months | 1.35% | S$200,000 |
| 12 months | 1.35% | S$500 |
| 12 months | 1.40% | S$200,000 |
At just S$500, the minimum deposit amount is relatively low to access Bank of China’s 1-, 3-, and 6-month fixed deposit rate of 1.10% to 1.30% p.a. For the 9- and 12-month tenure, you can place a minimum of S$500 to unlock 1.32% p.a. and 1.35% p.a. respectively, or S$200,000 to lock in the interest rate of 1.35% p.a. and 1.40% p.a respectively. Find out more about Bank of China’s rates here.
ICBC Fixed Deposit Rates [April 2026]
ICBC Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.95% | S$500 |
| 3 months | 1.15% | S$500 |
| 6 months | 1.20% | S$500 |
| 9 months | 0.90% | S$500 |
| 12 months | 0.90% | S$500 |
ICBC Promotion Rates (Counter)
| Tenor | Interest Rate p.a. | Minimum Deposit |
| 1 month | 1.05% | S$20,000 |
| 3 months | 1.25% | S$20,000 |
| 6 months | 1.25% | S$20,000 |
| 9 months | 1.25% | S$20,000 (max S$199,999) |
| 9 months | 1.30% | S$200,000 and above |
| 12 months | 1.30% | S$20,000 (max S$199,999) |
| 12 months | 1.35% | S$200,000 and above |
ICBC Promotion Rates (E-Banking)
| Tenor | Interest Rate p.a. | Minimum Deposit |
| 1 month | 1.05% | S$500 (max S$19,999) |
| 1 month | 1.10% | S$20,000 and above |
| 3 months | 1.25% | S$500 (max S$19,999) |
| 3 months | 1.30% | S$20,000 and above |
| 6 months | 1.30% | S$500 and above |
| 9 months | 1.10% | S$500 (max S$19,999) |
| 9 months | 1.30% | S$20,000 (max S$199,999) |
| 9 months | 1.35% | S$200,000 and above |
| 12 months | 1.15% | S$500 (max S$19,999) |
| 12 months | 1.35% | S$20,000 (max S$199,999) |
| 12 months | 1.40% | S$200,000 and above |
ICBC is currently offering a 12-month fixed deposit rate of 1.30% p.a. (over-the-counter) with a minimum deposit of S$20,000, and 1.15% (via e-banking) given a minimum amount of S$500. To lock in the higher interest rate of 1.35% p.a. (over-the-counter) and 1.40% p.a. (via e-banking) on the 6-month tenure, you’ll need to place a minimum of S$200,000 and above. Find out more about ICBC’s rates here.
Maybank Fixed Deposit Rates [April 2026]
Maybank Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.10% | S$1,000 (Max S$999,999) |
| 3 months | 0.20% | S$1,000 (Max S$999,999) |
| 6 months | 0.25% | S$1,000 (Max S$999,999) |
| 9 months | 0.35% | S$1,000 (Max S$999,999) |
| 12 months | 0.35% | S$1,000 (Max S$999,999) |
Maybank Promotion Rates
| Promotion Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Deposits Bundle Promotion | 9 months | 1.32% | S$20,000 |
| Deposits Bundle Promotion | 12 months | 1.32% | S$20,000 |
| Standalone Time Deposit | 6 months | 1.30% | S$20,000 |
| Standalone Time Deposit | 9 months | 1.30% | S$20,000 |
| Standalone Time Deposit | 12 months | 1.30% | S$20,000 |
For deposits hitting a minimum of S$20,000, Maybank is currently offering an interest rate of 1.30% per annum across their 6-, 9- and 12-month fixed deposits placed over-the-counter or online.
To unlock an even higher rate of 1.32% p.a. on their 9- and 12-month Singapore Dollar Time Deposit through their new Deposits Bundle Promotion, you will need to “bundle” your deposit by placing fresh funds into a Time Deposit and a savings account simultaneously at a specific 1:10 ratio.
This means for every S$10,000 you invest in the Time Deposit, you’ll need to deposit an additional S$1,000 in a savings account for the tenure period. And since the savings portion earns a much lower base interest rate, your combined effective interest return across both accounts averages out to about 1.32% p.a. Find out more about Maybank’s rates here.
CIMB Fixed Deposit Rates [April 2026]
CIMB Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.20% | S$5,000 |
| 3/6/9/12 months | 0.30% | S$1,000 (Max S$99,999) |
| 3/6/9/12 months | 0.35% | S$100,000 and above |
CIMB Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Personal Banking (Online) | 3 months | 1.25% | S$10,000 |
| 6 months | 1.30% | S$10,000 | |
| 9 months | 1.30% | S$10,000 | |
| 12 months | 1.30% | S$10,000 | |
| Preferred Banking (Online) | 3 months | 1.30% | S$10,000 |
| 6 months | 1.35% | S$10,000 | |
| 9 months | 1.35% | S$10,000 | |
| 12 months | 1.35% | S$10,000 |
CIMB is offering a fixed deposit rate of 1.30% p.a. for 6-, 9-, and 12-month placements made online. For the same tenure, preferred banking customers can enjoy a higher rate of 1.35% p.a. A minimum deposit of S$10,000 is required for both to unlock the promotional interest rate. Find out more about CIMB’s rates here.
Hong Leong Finance Fixed Deposit Rates [April 2026]
Hong Leong Finance Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.05% | S$10,000 (Max S$50,000) |
| 1 month | 0.13% | Above S$50,000 |
| 3 months | 0.10% | S$500 (Max S$50,000) |
| 3 months | 0.15% | Above S$50,000 |
| 6 months | 0.15% | S$500 (Max S$50,000) |
| 6 months | 0.20% | Above S$50,000 |
| 9 months | 0.20% | S$500 (Max S$50,000) |
| 9 months | 0.30% | Above S$50,000 |
| 12 months | 0.25% | S$500 (Max S$50,000) |
| 12 months | 0.35% | Above S$50,000 |
Hong Leong Finance Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Counter | 6 months | 1.20% | S$20,000 and above |
| 9 months | 1.25% | S$20,000 and above | |
| 12 months | 1.25% | S$20,000 and above | |
| Online | 6 months | 1.20% | S$5,000 (max S$19,999) |
| 6 months | 1.25% | S$20,000 and above | |
| 9 / 12 months | 1.25% | S$5,000 (max S$19,999) | |
| 9 / 12 months | 1.28% | S$20,000 and above |
Hong Leong Finance is offering 1.25% p.a. on 9- and 12-month fixed deposits for online placements of at least S$5,000. For amounts above S$20,000, you’ll earn 1.28% p.a. on the 9- and 12-month fixed deposit for online placements. On the other hand, you’ll earn 1.20% p.a. on the 6-month fixed deposit for over-the-counter placements, and 1.25% p.a. on both 9- and 12-month fixed deposits, all with a minimum deposit amount of S$20,000. Find out more about Hong Leong Finance’s rates here.
Standard Chartered Fixed Deposit Rates [April 2026]
Standard Chartered Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.05% | S$0 |
| 3 months | 0.10% | S$0 |
| 6 months | 0.30% | S$0 |
| 9 months | 0.55% | S$0 |
| 12 months | 0.60% | S$0 |
Standard Chartered Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Personal Banking | 9 months | 1.10% | S$25,000 |
| Priority Banking | 9 months | 1.15% | S$25,000 |
| Priority Private | 9 months | 1.20% | S$25,000 |
For a 9-month fixed deposit, Standard Chartered is offering a rate of 1.10% p.a. for Personal Banking customers, 1.15% p.a. for Priority Banking customers, and 1.20% p.a. for Priority Private customers, all with a minimum placement of S$25,000. Find out more about Standard Chartered’s rates here.
UOB Fixed Deposit Rates [April 2026]
UOB Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.05% | S$0 (Max S$999,999) |
| 3 months | 0.10% | S$0 (Max S$999,999) |
| 6 months | 0.30% | S$0 (Max S$999,999) |
| 9 months | 0.80% | S$0 (Max S$999,999) |
| 12 months | 1.00% | S$0 (Max S$999,999) |
UOB Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| With Wealth Holdings | 6 months | 1.25% | S$10,000 |
| 12 months | 1.25% | S$10,000 | |
| Without Wealth Holdings | 6 months | 1.20% | S$10,000 |
| 12 months | 1.20% | S$10,000 |
UOB is offering a promotional interest rate of 1.20% p.a. (without wealth holdings) and 1.25% p.a. (with wealth holdings) for a 6- and 12-month fixed deposit using fresh funds of S$10,000. However, this rate is lower than the highest effective interest rate that the UOB One account offers. Find out more about UOB’s fixed deposit rates here.
OCBC Fixed Deposit Rates [April 2026]
OCBC Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.05% | S$5,000 (Max S$999,999) |
| 3 months | 0.10% | S$5,000 (Max S$20,000) |
| 3 months | 0.05% | Above S$20,000 |
| 6 months | 0.20% | S$5,000 (Max S$20,000) |
| 9 months | 0.30% | S$5,000 (Max S$20,000) |
| 12 months | 0.50% | S$5,000 (Max S$20,000) |
| 6/9/12 months | 0.10% | Above S$20,000 |
OCBC Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Counter | 12 months | 1.05% | S$20,000 |
| Online | 12 months | 1.10% | S$20,000 |
OCBC is offering a promotional interest rate of 1.05% p.a. (over-the-counter) and 1.10% p.a. (online) for 12-month fixed deposits, given a minimum placement of S$20,000. Find out more about OCBC’s rates here.
DBS Fixed Deposit Rates [April 2026]
DBS Board Rates
| Tenure | Interest Rate p.a. | Minimum Deposit |
| 1 month | 0.05% | S$1,000 – S$999,999 |
| 3 months | 0.15% | S$1,000 (max S$19,999) |
| 6 months | 0.80% | S$1,000 (max S$19,999) |
| 9 months | 1.00% | S$1,000 (max S$19,999) |
| 12 months | 1.00% | S$1,000 (max S$19,999) |
DBS is offering an interest rate of up to 1.00% for its fixed deposits for amounts ranging between S$1,000 and S$19,999. Find out more about DBS’s rates here.
HSBC Fixed Deposit Rates [April 2026]
HSBC Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.05% | S$5,000 |
| 3 months | 0.05% | S$5,000 |
| 6 months | 0.10% | S$5,000 |
| 12 months | 0.15% | S$5,000 |
HSBC Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Premier Elite | 3 months | 1.30% | S$5,000 |
| 6 months | 1.20% | S$5,000 | |
| 9 months | 1.25% | S$5,000 | |
| 12 months | 1.30% | S$5,000 | |
| Premier with Wealth Holdings, or Premier FX Engaged | 3 months | 1.25% | S$5,000 |
| 6 months | 1.15% | S$5,000 | |
| 9 months | 1.20% | S$5,000 | |
| 12 months | 1.25% | S$5,000 | |
| Premier without Wealth Holdings | 3 months | 0.75% | S$5,000 |
| 6 months | 0.85% | S$5,000 | |
| 9 months | 0.85% | S$5,000 | |
| 12 months | 0.95% | S$5,000 | |
| Personal Banking | 3 months | 0.70% | S$5,000 |
| 6 months | 0.80% | S$5,000 | |
| 9 months | 0.80% | S$5,000 | |
| 12 months | 0.90% | S$5,000 |
The promotional rates above apply to placements made outside of the HSBC Singapore app. Among these, the 6- and 12-month fixed deposits for Premier Elite customers offer the highest interest rates, at 1.30% p.a. interest. Find out more about HSBC’s rates here.
Citibank Fixed Deposit Rates [April 2026]
Citibank Board Rates
| Tenure | Board Rate p.a. | Minimum Deposit |
| 1 month | 0.60% | S$10,000 |
| 3 months | 0.60% | S$10,000 |
| 6 months | 0.60% | S$10,000 |
| 12 months | 0.70% | S$10,000 |
Citibank Promotion Rates
| Banking Type | Tenure | Interest Rate p.a. | Minimum Deposit |
| Personal Banking | 1 month | 0.60% | S$10,000 |
| 3 months | 0.60% | S$10,000 | |
| 6 months | 0.60% | S$10,000 | |
| 12 months | 0.70% | S$10,000 | |
| Citigold (Fresh Funds Promo) | 3 months | 1.15% | S$10,000 (max S$249,999) |
| 3 months | 1.20% | S$250,000 (max S$10,000,000) | |
| 6 months | 1.05% | S$10,000 (max S$249,999) | |
| 6 months | 1.10% | S$250,000 (max S$10,000,000) |
For placements between S$10,000, up to a maximum of S$3 million, Citibank is offering a fixed deposit rate of 0.60% p.a. for 1-, 3- and 6-mont fixed deposits, and 0.70% for 12-month. Find out more about Citibank’s rates here.
Separately, Citigold is offering a fresh funds promotion for its fixed deposits. For the 3-month fixed deposit, rates are 1.15% p.a. (minimum deposit of S$10,000) and 1.20% p.a. (minimum deposit of S$250,000). For the 6-month fixed deposit, rates are 1.05% p.a. (minimum deposit of S$10,000) and 1.10% p.a. (minimum deposit of S$250,000). Find out more about Citigold’s rates here.
How to Choose The Right Fixed Deposit (FD) in Singapore
Most people tend to zone in on the best interest rates and tenures of fixed deposits and overlook the terms and conditions of such products. But, not all fixed deposit schemes are created equal. If you’re asking yourself “should I put my money in a fixed deposit”, consider these factors for a thorough comparison:
Tenure and Liquidity
Before you begin looking at fixed deposit interest rates, you must first understand your liquidity needs. If you anticipate needing access to your funds in a short timeframe, then a shorter tenure will be more suitable, even if it doesn’t come with the highest fixed deposit rates.
Interest Rates and Returns
Fixed deposit interest rates can vary between different banks and are updated periodically. Promotional offers can also affect the interest rates offered. You should find out which bank offers the highest fixed deposit rate in Singapore before you commit.
Minimum Deposit Requirements
Before committing to a fixed deposit, always check the minimum deposit requirements. It’s no use if a bank has the highest fixed deposit rates if you are unable to meet the minimum amount.
Early Withdrawal Penalties
Life is unpredictable, and there may be times when you need to access your funds before your fixed deposit matures. However, early withdrawal usually comes with penalties. These penalties can vary depending on the bank and the specific terms of your fixed deposit agreement.
Some institutions might charge a flat fee, while others might forfeit a portion of the accrued interest. Review the terms and conditions carefully to ensure you’re aware of the potential costs of accessing your money early.
Inflation and Real Returns
When considering the best fixed deposit rates, you should also take into account the prevailing inflation rate. Inflation erodes the purchasing power of your money over time. If the inflation rate is higher than the interest rate you’re earning on your fixed deposit, your real return (the return adjusted for inflation) will be negative.
Fixed Deposits vs Other Low-Risk Investments: What’s Best for You?
While fixed deposits might generally be a safe and steady way to make your money work harder for you, interest rates that hover around 1.10%-1.50% might not be the most enticing. If you’re looking to find the best fixed deposit rates in Singapore, it’s important to understand the various options available to you in the broader low-risk investment landscape.
Here’s a closer look at a couple of financial instruments if you want to look for alternatives beyond fixed deposits to optimise your cash:
Fixed Deposits vs Singapore Savings Bonds (SSB)
The SSBs are government-backed securities that offer a relatively low-risk opportunity to grow your money.
The interest rates of the SSB differ monthly and the rates for April 2026 range between 1.36% (1-year average return) to 1.99% (10-year average return), which are slightly higher than the 1-month, 3-month, 6-month & 12-month rates.
The biggest difference between fixed deposit vs SSB is flexibility—you can withdraw your money anytime without any penalties, unlike certain fixed deposits.
| Tenor | Interest Rates | Minimum Deposit | |
| Fixed Deposits | 1 month | 1.10% (Bank of China, Mobile Banking Promo) | S$500 |
| Fixed Deposits | 3 months | 1.40% (RHB, Premier Banking Promo) | S$20,000 |
| Fixed Deposits | 6 months | 1.50% (HL Bank, Online, Fresh Funds Promo) | S$10,000 |
| Fixed Deposits | 9 months | 1.35% (CIMB, Preferred Banking, Online Promo) | S$10,000 |
| Fixed Deposits | 12 months | 1.50% (RHB, Premier Banking Promo) | S$20,000 |
| SSB | 10 years | 1.36% (1-year average return) | $500 (maximum of $200,000) |
| SSB | 10 years | 1.99% (10-year average return) | $500 (maximum of $200,000) |
Fixed Deposits vs High Yield Savings Account (HYSA)
HYSAs are known for offering higher interest rates compared to traditional savings accounts. These accounts are liquid and have no fees, making them great for people who require ready access to their funds.
HYSAs have tiered interest rates: you start off with a base interest rate and are given the chance to earn bonus interest by fulfilling certain criteria such as purchasing an investment product from the bank or making a certain amount of transactions in a month.
While the base interest rates of HYSAs are typically lower than the average fixed deposit rate in Singapore, the effective interest rates can vary and may even end up being higher than the best fixed deposits.
Fixed Deposits vs Treasury Bills (T-Bills)
Singapore t-bills are short-term government bonds with maturity periods of 6 months or 1 year. The earnings from T-bills depend on market conditions, which can offer higher but less predictable returns than the steady interest from fixed deposits.
Like with the SSB, T-Bills are relatively liquid and offer investors flexibility. Fixed deposits, on the other hand, are less liquid since the invested sum has to be locked in for a fixed period, and any early withdrawals are prone to penalties.
Liquidity is an important factor to consider in a comparison between fixed deposit and other forms of investments. While you might find the highest fixed deposit rate extremely attractive, always consider if you’re comfortable with a lock-in period and having no access to your funds.
| Tenor | Interest Rate p.a. | Minimum Deposit | |
| Fixed Deposits | 1 month | 1.10% (Bank of China, Mobile Banking Promo) | S$500 |
| Fixed Deposits | 3 months | 1.40% (RHB, Premier Banking Promo) | S$20,000 |
| Fixed Deposits | 6 months | 1.50% (HL Bank, Online, Fresh Funds Promo) | S$10,000 |
| Fixed Deposits | 9 months | 1.35% (CIMB, Preferred Banking, Online Promo) | S$10,000 |
| Fixed Deposits | 12 months | 1.50% (RHB, Premier Banking Promo) | S$20,000 |
| T-bill | 6 months | 1.46% (from the 31 Mar 2026 issue) | $1,000 and in multiples of $1,000 |
| T-bill | 12 months | 1.44% (from the 27 Jan 2026 issue) | $1,000 and in multiples of $1,000 |
Fixed Deposits vs Foreign Currency (USD) Fixed Deposit
Many Singaporeans are familiar with fixed deposits denominated in Singapore Dollars (SGD). SGD fixed deposits are a straightforward choice for most, with interest rates quoted and paid in SGD, making it straightforward to calculate your returns in the local currency at maturity.
However, another option to consider is a foreign currency fixed deposit, such as US Dollars (USD). When making a comparison between the best FD account in SGD and USD, investors must be aware of currency fluctuation risk. If the SGD strengthens against the USD during your fixed deposit term, your returns, when converted back to SGD, might be lower than anticipated.
More Ways to Grow Your Money with Syfe
Fixed deposits are largely favoured by conservative investors for their predictable returns and fixed tenures. However, if you have the appetite for other types of investments that allow you to grow wealth and earn income, and that do not come with fixed tenures or 100% guaranteed returns, here are a couple of options to consider:
Discover Syfe Income+
Fixed deposits offer a level of security for investors who seek consistent, predictable returns. An alternative to this is a portfolio that offers consistent yield and stability amid a volatile market.
Syfe’s Income+ is a professionally managed, globally diversified bond portfolio designed to generate passive income. Powered by actively managed funds from PIMCO, it comprises SGD-hedged, investment-grade funds and provides regular monthly payouts with no lock-in periods, minimum balance required, or withdrawal penalties. Currently it offers a distribution yield (i.e. monthly payout) of 5.0%-5.5% for Income+ preserve and 5.5%-6.0% for Income+ Enhance, and a yield-to-maturity of 6.06% and 6.31% respectively.
You may also opt for monthly payout straight to your bank account or reinvest to grow your portfolio. This makes Income+ a viable place to store and gradually grow your cash while still earning income.
Discover Syfe Cash Management
Cash management solutions designed to maximise returns are also great alternatives to fixed deposits, and Syfe’s Cash Management is an excellent example. Syfe’s Cash Management suite offers two approaches aligned with different cash needs:
Cash+ Flexi aims to provide returns higher than a typical savings account by investing in a portfolio of low-risk, high-liquidity SFC-authorised money market funds and short-term bond funds. It is designed for those who want to earn interest on their idle cash while maintaining high liquidity and flexibility, with no lock-in periods, minimum balances (for SGD), and unlimited next-day withdrawals. Currently, Cash+ Flexi (SGD) offers 1.6%-1.7% p.a. in projected returns.
Cash+ Guaranteed places your funds in fixed deposits with banks regulated by the Monetary Authority of Singapore and is available in 1-month, 3-month, 6-month, and 12-month tenures. It has some of the most competitive rates in the market, up to 1.15% p.a. guaranteed returns (for SGD), with capital and returns guaranteed subject to underlying bank risk. It’s a no-frills cash management solution that requires no minimum deposit amount and charges no fees.
To calculate your potential returns from these portfolios, try our investment calculator — a valuable tool that provides tailored insights to help you navigate your investment journey and reach your financial objectives.
Frequently Asked Questions (FAQs)
1. Which bank has the highest fixed deposit rate in Singapore right now?
The highest fixed deposit (FD) rates in Singapore fluctuate based on promotions. As of April, the best fixed deposit in Singapore is HL Bank’s 6-month fixed deposit, which offers 1.50% p.a. with a minimum placement of S$10,000. For a competitive alternative with no minimum deposit or lock-in, consider cash management accounts like Syfe Cash+.
2. Are fixed deposits in Singapore safe?
Yes, SGD fixed deposits are highly safe. Your funds are insured by the Singapore Deposit Insurance Corporation (SDIC) for up to S$100,000 per bank, per depositor, protecting both your capital and guaranteed returns.
3. Can I withdraw my fixed deposit early before the maturity date?
Yes, you can withdraw a fixed deposit early, but banks will typically charge a premature withdrawal fee and you will forfeit your earned interest. If you need liquidity, an alternative like Syfe Cash+ Flexi allows withdrawals at any time without penalty fees.
4. What is the difference between Fixed Deposits, T-Bills, and SSBs?
Fixed Deposits lock your money with a bank for a guaranteed rate. T-Bills are short-term government securities requiring auction bidding. Singapore Savings Bonds (SSBs) are long-term government bonds allowing penalty-free monthly withdrawals.
5. Do I need fresh funds to get the best FD rates?
Yes, banks usually reserve their highest promotional FD rates for fresh funds—money transferred in from a different financial institution. Existing funds typically earn the lower, standard board rate.
6. Is a time deposit the same as a fixed deposit in Singapore?
Yes, a time deposit is the same as a fixed deposit in Singapore and they are often referred to interchangeably by banks. Functionally, they are identical, low-risk banking products where you lock up a lump sum for a fixed tenure (e.g. 1 to 36 months) to earn a guaranteed, stable interest rate higher than standard savings accounts. Interest is paid upon maturity, and early withdrawal may incur penalties or loss of interest.
You must be logged in to post a comment.