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Maximise Your Earnings: Top Bank Savings and Deposit Rates in Singapore
As of 10 Feb 2025, individuals in Singapore have the opportunity
to earn up to 5% per annum with select bank savings and fixed or time deposit accounts. This guide provides an in-depth look at the most
competitive rates available.
Understanding the inherent stability of deposits is crucial. Unlike other financial instruments that are subject to market fluctuations, fixed deposits offer a
secure option with significantly lower risk. They ensure that your capital remains intact, providing peace of mind and a reliable safety net for your hard-earned money.
Please note that all promotional offers mentioned herein are subject to specific terms and conditions and
may change anytime. You are advised to thoroughly review these stipulations
prior to engagement. Mistakes and typos may happen, please do your due diligence and verify before committing
Deposits are categorised
into two primary types:
- Fixed/Time Deposits:
These
require the allocation of funds – typically fresh funds
– in an account for a predetermined duration.
- Incremental Balance Promotions: These
promotions necessitate an increase in
the average balance of your account over a set period,
using fresh funds
The term ‘fresh funds’ refers to money transferred into the bank account from
outside-the-bank sources.
Click on a link to jump to
a
specific section
- Best Fixed Deposit Promotions (Up to 2.9% p.a.)
Best Fresh Funds Promotions (Up to 2.90% p.a.)
Best High-Yield Savings Accounts (Up to 5% p.a.)
Best Debit Cards For Overseas Usage
Revision History
Best Fixed Deposit Promotions (Up to 2.9% p.a.)
These fixed deposit schemes may require fresh funds to qualify
for the advertised rates. These promotions offer the overall best interest rate if you don’t have the need to access your funds for the
specified terms.
FAQ: Which bank is offering the very best
fixed deposit rate? It depends on the tenure, amount and fund freshness. The highest rate for
1-mth, 3-mth, 6-mth and 12-mth tenures are indicated below for your convenience.
- DBS/POSB S’pore Offers Up to 2.45% p.a. on Fixed Deposits from 10 Dec (max 20k)
SingFinance Latest Fixed Deposit Rates Offers Up to 2.70% p.a. from 3 Jan
RHB Bank S’pore Offers Up to 2.68% p.a. Fixed Deposit Promotional Rates from 10 Jan
Maybank Latest Time Deposit Rates Offers Up to 2.45% p.a. From 24 Jan
Bank of China (Singapore) Latest Time Deposit Rates Offers Up to 2.80% p.a. from 27 Jan 2025 HIGHEST 1-mth (2.60%), 6-mth (2.70%), 12-mth (2.70%)
ICBC Latest Fixed Deposit Rates Offers Up to 2.90% p.a. as of 28 Jan HIGHEST 3-mth (2.90%)
CIMB Latest Fixed Deposit Rates Offers Up to 2.75% p.a. from 1 Feb
UOB Offers Up to 2.40% p.a. Fixed Deposit Promotion until 28 Feb 2025
Standard Chartered Offers Up To 2.80% p.a. for 6-Month Time Deposits until 28 Feb
Singapore Savings Bonds Offers Up to 2.97% p.a. in Latest Issue, Apply by 25 Feb 2025 *SSB* HIGHEST 12-mth (2.83%)
State Bank of India Offers Time Deposit Rates of Up to 2.65% p.a. as of 6 Feb
- OCBC Bank S’pore Offers Up To 2.45% p.a. In Latest Fixed Deposit From 7 Feb 2025
The following offers may not support FAST transfers and may have
other restrictions
- Bank of East Asia 2.90% p.a. For 3 months; 2.70% p.a.* For 12 months; min $100K fresh funds
ICICI Bank Singapore Up To 2.70%
- Singapura Finance Vivid Fixed Deposit 12 Months @ 2.65% and 15 Months @ 2.60%p.a.
The following offers are not SDIC insured (subject to underlying
bank risk)
- Syfe Cash+ Guaranteed up to 2.9% p.a. (as of 1 Feb)
Stashaway Simple Guaranteed up to 2.9% p.a. (as of 1 Feb)
Best Fresh Funds Promotions (Up to 2.90% p.a.)
Such promotions offer flexibility, allowing you to access your funds without the restrictions commonly associated with fixed deposits. These promotions offer the second best interest rate and
also allow you to
withdraw the funds anytime, even partially.
- Maybank Fresh Funds Top-up Promo Offers Interest Rates up to 2.85% p.a. till 31 Mar
Standard Chartered Offers Up to 2.9% p.a. Interest for e$aver Accounts Until 31 Mar
Best High-Yield Savings Accounts (Up to 5% p.a.)
These accounts DO NOT have these requirements – salary crediting, GIRO payments, bill payments, purchase of investment /
insurance / wealth products and/or
minimum card spending to enjoy the interest rates.
They MAY have conditions such as minimum balance requirement to achieve max interest rate (most accounts except MariBank), tiered interest rates (most accounts except MariBank) and maintaining the monthly average balance (UOB Stash).
These usually offer the third best effective interest rate, allowing you to withdraw the funds anytime and do
not
require any regular action from your end to earn the interest.
- CIMB: Earn up to 3.3% with FastSaver on first $75k
CIMB: Earn up to 3.3% with StarSaver
MariBank Mari Savings Account flat 2.50% p.a. on first $100k (Use code 8ZEF70CP for S$8 cash credit, T&Cs apply)
Trust Bank Savings Account up to 2% p.a, (Free $5 – $1K cashback with referral code QP4KSSYY )
RHB High Yield Savings Plus Account up to 2% p.a.
UOB Stash Account earn up to 5% p.a. interest on first $100k (Monthly Average Balance must not decrease)
HL Bank iSavings Account earn up to 3.28%
Sing Investments & Finance Gosavers Account up to 3.50% p.a.
Standard Chartered JumpStart Account 2% p.a. on first S$50,000 (age 18 – 26 at sign-up)
BOC SuperSaver up to 3.60% p.a. (Account must be linked to PayNow to earn bonus interest)
Singapura Finance Vivid Savings Account up to 2.58% on first $200k
Best Debit Cards For Overseas Usage
These cards provide savings of up to 3.25% when used overseas as compared to using common debit cards such as DBS debit cards that are not linked to a multi currency account or using an unsupported currency.
Trust Debit/Credit *Recommended* (Local bank with good exchange rates and funds earn interest)(Free $5 – $1K cashback with referral code QP4KSSYY )
Youtrip Debit (No fee and best exchange rates, funds do not earn interest, use
this referral link to get $5)
Wise Debit (Fees apply, hold over 40 currencies to convert and send money, funds can earn at-risk interest)
Revolut Debit (Fees apply, Extra 1% currency conversion fees on weekends, use
this link for free 3-mth Premium trial)
Revision History
Here are the last few
changes by most
recent first
10 Feb 2025
- Fixed Deposit
Promotions: BOC (decreased
6-mth rates)
7 Feb 2025
- Fixed
Deposit
Promotions: OCBC (increased 12-mth rates)
6 Feb 2025
- Fixed
Deposit
Promotions:
State Bank of India (new 12-mth tenure)
3 Feb 2025
- Fixed Deposit Promotions: Standard Chartered
(decrease),
SSB (increase)
1 Feb 2025
- Fixed
Deposit Promotions: CIMB (decrease except
for 3-mth),
UOB (same)
- Fresh Funds: Standard
Chartered
(decrease),
Maybank (decrease)
28 Jan 2025
- Fixed
Deposit Promotions: ICBC (3-mth
rates decrease)
27 Jan 2025
- Fixed Deposit
Promotions: Bank of China (decreased by
up
to 0.1%)
24 Jan 2025
- Fixed Deposit
Promotions:
Maybank (reductions)
20 Jan 2025
- Fixed Deposit Promotions:
Bank of China (3-mth rates decrease by 0.05%), Standard Chartered (increase
by
up to 0.28%)
15 Jan 2025
- Fixed Deposit Promotions: ICBC
(3-mth
rates decrease)
10 Jan 2025
- Fixed
Deposit Promotions:
RHB (decrease)
3 Jan 2025
- Fixed
Deposit
Promotions: SingFinance (decrease)
2 Jan 2025
- Fixed Deposit Promotions:
UOB
(decrease), Standard Chartered (decrease), SSB (decrease)
- Fresh
Funds: Standard
Chartered Marathon (decrease)
1 Jan 2025
- Fixed Deposit
Promotions:
CIMB (decrease)
- Fresh
Funds:
CIMB (same)
- High-Yield Savings Accounts: Maribank Savings Account 2.5%
(reduced
from 2.7%)
23 Dec 2024
- Fixed
Deposit
Promotions: Maybank (decrease)
10 Dec 2024
- Fixed Deposit
Promotions:
DBS/POSB (decrease)
6 Dec 2024
- Fixed Deposit
Promotions: OCBC (decrease), State
Bank of India
(decrease), Bank of East Asia (3-mth increase)
2 Dec 2024
- Fixed Deposit Promotions:
Maybank
(reductions up to 0.2% across all tenures), SSB
(increase by 0.05%), UOB (same), Standard Chartered (same)
1 Dec 2024
- Fixed Deposit
Promotions: RHB (increase
up
to 0.35%),
- Fresh
Funds: CIMB
(reduced), Standard
Chartered (reduced)
25 Nov 2024
- Fixed Deposit
Promotions: ICBC (increase
for 3-mth
under 200k tenure)
23 Nov 2024
- Fixed
Deposit Promotions:
UOB (flat decrease
of 0.1%)
18 Nov 2024
- Fixed Deposit
Promotions: Bank
of
China (12-mth increase by 0.1%)
16 Nov 2024
- Fixed Deposit
Promotions:
RHB (flat increase of 0.05%)
12 Nov 2024
- Fixed
Deposit Promotions: Bank of
China
(3-mth reduced by 0.05%)
7 Nov 2024
- Fixed Deposit Promotions:
SBI
offer no
longer available
1 Nov 2024
- Fixed Deposit Promotions:
Maybank, Standard
Chartered,
SSB (increase)
- Fresh Funds Promotions: Standard
Chartered Marathon,
CIMB, Maybank
30 Oct 2024
- Fixed
Deposit Promotions:
UOB (reduced)
28 Oct 2024
- Fixed Deposit Promotions: Bank
of
China (reduced)
23 Oct 2024
- Fixed
Deposit Promotions:
HL Bank S’pore
17 Oct 2024
- Fixed
Deposit Promotions:
RHB (all
increase), OCBC (12-mth increase)
14 Oct 2024
- Fixed
Deposit Promotions: Bank of China (increase
for
3-mth rates)
8 Oct 2024
- Fixed
Deposit
Promotions:
Singapura Finance (reduced)
7 Oct 2024
- Fixed
Deposit Promotions: Bank
of China
(increases for 3-mth and 4-mth rates)
1 Oct 2024
- Fixed Deposit
Promotions: UOB, Standard Chartered, SSB, State
Bank of India, Singapura
Finance Vivid
- High-Yield Savings
Accounts: CIMB FastSaver StarSaver
accounts rates revised,
SingSaver GoSaver rates revised
- Fresh Funds Promotions:
Standard
Chartered,
Standard Chartered Marathon, CIMB
30 Sep 2024
- Fixed Deposit Promotions: Bank of
China (reduced)
27 Sep 2024
- Fixed Deposit Promotions:
OCBC
(reductions, new 1yr tenure offer)
26 Sep 2024
- Fixed Deposit
Promotions:
Maybank (reductions), RHB (reductions)
24 Sep 2024
- Fixed Deposit Promotions:
Bank of East Asia (reduced),
OCBC (reduced)
23 Sep 2024
- Fixed
Deposit Promotions:
New Bank of China rates (reduced)
21 Sep 2024
- Fixed Deposit
Promotions: New CIMB
rates (reduced), New ICBC
rates (reduced)
20 Sep 2024
- Fixed Deposit Promotions: New SingFinance
rates (reduced)
18 Sep 2024
- Fixed
Deposit Promotions: New
ICBC rates, Syfe
and Stashaway rates updated
14 Sep 2024
- Fixed Deposit Promotions:
Bank of East Asia reduces
rates
by 0.25%, Syfe and Stashaway rates updated
12 Sep 2024
- Fixed Deposit
Promotions:
New
ICBC rates
10 Sep 2024
- Fixed
Deposit
Promotions: BOC rates reduced by
up to 0.1%
9 Sep 2024
- Fixed Deposit Promotions: ICBC latest rates reduced
by up to 0.2%
(selected tenures), Added ICICI, Bank
of East Asia. Updated Syfe and Stashaway rates.
6 Sep 2024
- Fixed
Deposit Promotions: RHB latest
rates reduced by 0.15%
3 Sep 2024
- Fixed Deposit
Promotions: Added SingFinance
2 Sep 2024
- Fixed Deposit Promotions:
Added “Standard Chartered Singapore Offers 3% – 3.20%
p.a. for 3-Month Time Deposits”, “ICBC Up to 3.25% p.a. from
2 September 2024″, SSB, Bank of China, State Bank of India
- Best High-Yield
Bank Accounts: Added
CIMB
revising rates from 1 Oct.
1 Sep 2024
- Fixed Deposit Promotions:
Removed expired
entries. Added
UOB, CIMB, Citibank
- Fresh Funds Promotion: Removed
expired
entries. Added CIMB
and Maybank offers
If you’ve discovered an attractive banking offer, share it in the comments section below.
CIMB Bank has a new online fixed deposit promotion with interest of up to 1.80% p.a.
Any promotion from Bank of China? Their website is never updated since 2 yrs ago.
State Bank Of India 12 months 4% $50000
You forgot about citibank. 3 mths 3.88% now. Minimum 250k placement
Citibank 6 Months 2.40% HSBC 6 Months 2.78% Hong Leong Finance 6 Months 2.60%