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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%