Singapore dollar Fixed Deposits – Promotional Interest Rates

POSB Savings account pays interest at 0.05% per annum for savings up to $350,000.

If you are holding cash for at least a year, instead of keeping it in savings account, consider placing them in fixed deposit (also termed as time deposit). Some banks are offering pomotional rates during this period. MayBank, UOB and OCBC provide promotional rates on fresh funds only.

MayBank

Tenor Amount Interest Rate
12 – month $25,000 to <$50,000 1.10 % pa
12 – month = & > $50,000 1.35% pa

UOB

Tenor Amount Interest Rate
8 – month = & > $20,000 1.25 % pa

OCBC

Tenor Amount Interest Rate
12 – month $20,000 to $999,999 1.20 % pa

As for DBS Bank, I could not see any promotional rates for fixed deposits on its webpages. The usual board rate applies. For 12-month tenor fixed deposit, the interest rate is 0.25% pa for amount up to $999,999.

Go to the homepages of these banks and see for yourself as to the end of these promotional interest rates.

Copyright © 2014, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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