Fixed Deposit Rates in Singapore [January 2024]
1-Month Fixed Deposit Rates in Singapore
Key Takeaway
Indicates 1 Month Fixed Deposit Rates in Banks (as of 09 August 2023) in Singapore with SGD currency. Deposits $500 and under, $20,000-$50,000, $50,000 and above.
A fixed deposit rate (also known as time deposit rate) is an interest rate that a bank or financial institution pays to a depositor of a fixed deposit account holder. The rate is usually fixed for a specific period of time and is guaranteed, meaning the depositor will receive the agreed-upon rate regardless of any changes in market conditions. Also, some of them may have minimum deposit amount.
One key difference between fixed deposit rates and other types of interest rates is that they are typically higher than savings account rates due to the longer-term commitment involved. While you can withdraw your money from fixed deposits, if you withdraw before the tenure is up, you will earn less interest or no interest at all.
Check another commitment period on Fixed Deposit Rates in Singapore>>
ICBC 1 Month Fixed Deposit Rates
Via E-Banking
Period 1-month (S$500 & Above): 2.90% p.a.
Over the Counter
Period 1-month (S$20,000 & Above): 2.85% p.a.
#Note: Promotion is available till further notice. To check the latest rates and news, please access the official webpage ICBC fixed deposit rates.
The minimum deposit amount over counter is SGD20,000, and the minimum deposit amount via E-banking is SGD500.
ICBC Singapore is the Singapore branch of Industrial and Commercial Bank of China, one of the largest banks in the world by total assets. ICBC Singapore offers a comprehensive array of financial services including corporate banking, trade financing, investment banking, cross-border RMB (Renminbi) business, wealth management, and more.
UOB 1 Month Fixed Deposit Rates
Period 1-month (Below S$50,000) : 0.05% p.a.
Period 1-month (Over S$50,000) : 0.05% p.a.
#Note: The prices shown here are indicative only as per the prevailing board rates. To check the latest rates and news, please access the official webpage UOB fixed deposit rates.
United Overseas Bank (UOB) is a leading bank in Asia, offering a range of financial services including personal banking, wealth management, and corporate banking. Founded in 1935, UOB has a presence in Southeast Asia with branches across 19 countries globally.
DBS 1 Month Fixed Deposit Rates
For New Customers
Period 1-month (S$1,000 - S$9,999): 0.30% p.a.
Period 1-month (S$10,000 - S$19,999): 0.30% p.a.
Period 1-month (S$20,000 - S$999,999): 0.05% p.a.
#Note: The Rate above is effective at 09/08/2023. To check the latest rates and news, please access the official webpage DBS fixed deposit rates.
DBS Bank, headquartered in Singapore, is the largest bank in Southeast Asia with a presence in 18 markets globally. It offers a broad range of financial services including personal banking, wealth management, corporate banking.
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Rewards
Reward A:
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Reward B:
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Rules
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Other terms and conditions
These terms and conditions, rewards and offers are organized by Moomoo Financial Singapore Pte. Ltd. (「Organiser」), a subsidiary of Futu Holdings Limited. By taking part in this Campaign, you agree to be bound by these Campaign Terms and Conditions, existing terms and conditions in the customer agreement, and the decisions of Moomoo Financial Singapore Pte. Ltd. in relation to and in connection with this Campaign.
For the complete terms and conditions, check here.
Considerations
While interest rates are lucrative now, you will still have to consider the potential drawbacks of fixed deposits. By parking your money in fixed deposits, you are giving up liquidity, which can incur opportunity costs whereby you will not be able to use that sum of money for other investments. Premature withdrawals will often come with penalties such as receiving decreased interest rate payments or receiving no interest at all.
