Quick answer: The best SGD fixed deposit rates right now combine high interest, low barriers, and solid security. DBS Bank offers up to 2.45% p.a. for a 12-month term with just S$1,000 to start. Standard Chartered reaches 2.30% p.a. with a S$5,000 minimum. If you prefer short, flexible tenures, UOB and Maybank let you lock in from just a week. CIMB dangles tasty online promo rates for those who move fast, while Hong Leong Finance gives you penalty-free early withdrawal in a pinch.
Don’t anyhow park your cash—get the rate you deserve. Your timeline and your appetite for penalties dictate the deal. Whether you need a quick 3-month placement or a higher 12-month lock-in, these Sgd Fixed Deposit Rates keep your money working while you sleep. Wake up, check the terms, open the app. Settle it before the next rate cut.
This is one of 21 guides in Best Bank Accounts & Savings in Singapore — start there if you would rather compare before you commit.
DBS Bank
DBS Bank is the big brother of Singapore banking, and their fixed deposit game reflects that—polished digital tools, competitive rates, and the assurance that your money sits inside a household name. Their 12-month placement pays 2.45% p.a. on deposits from S$1,000 to S$19,999, which is a lovely sweet spot if you’re not parking six figures.
The entire process happens on your phone. Open the app, pick your tenure from 1 to 12 months, transfer the cash, and you’re done. No fees, and it auto-renews so you don’t have to remember. For anyone who wants a safe, hands-off way to earn more than a regular savings account, DBS just works.
If you already use DBS, placing a fixed deposit is three taps away. No new account opening, no paperwork—just move your money and confirm the tenure. The rate structures are transparent, so you agak agak know what you’ll earn. Good for anyone who wants a big-brand name without stepping into a branch. Just open the app before lunch.
Address: 712A Ang Mo Kio Ave 6, #01-4066, Singapore 561712
Phone: 1800 111 1111
Operating Hours: Monday to Friday 8:30 AM – 4 PM, Saturday 8:30 AM – 12:30 PM
Website: DBS Bank
United Overseas Bank (UOB)
UOB understands that not everyone wants to tie up funds for a whole year. Their fixed deposits start from as short as 7 days, though the minimum for those bite-sized tenures is S$250,000—so it’s really for corporate treasurers or those with a deep pool. For the rest of us, a S$5,000 deposit gets you competitive rates across several months, all placed easily through the TMRW app.
What’s appealing is the flexibility. Need the cash back soon? Go shorter. Happy to let it sit? Choose a longer term and enjoy a higher yield. The auto-renewal means your money doesn’t go idle either. It’s a good middle ground for people who want their fixed deposit to fit around their life, not the other way.
Need the cash back in a few days? The ultra-short tenures exist, but they call for serious capital. For the rest of us, a 3- or 6-month placement on the TMRW app takes less time than ordering kopi. Flexibility without any early-withdrawal penalty drama means you can pivot fast. Do it now—rate changes don’t wait.
Address: 80 Raffles Place, UOB Plaza 1, Singapore 048624
Phone: +65 6222 2121
Operating Hours: Monday to Friday 9:30 AM – 4:30 PM, Saturday 9:30 AM – 12:30 PM
Website: United Overseas Bank (UOB)
This round-up is editorial. Suggestions are welcome – tell us what you offer and where.
Oversea-Chinese Banking Corporation (OCBC)
OCBC is like that reliable uncle who always tells you to save first, spend later. Their fixed deposit accounts give you a meaningful bump above what you’d get in a savings account, from just S$5,000 and a one-month commitment. If you already hold other currencies, you can also place foreign currency fixed deposits alongside SGD—handy for a diversified stash.
Placements are straightforward online, and the interest is guaranteed. For longtime OCBC customers, this is a no-brainer way to let idle balances work harder without switching banks.
Park as little as S$5,000 for just one month and still get a meaningful bump above savings-account returns. The foreign-currency add-on is handy if you hold USD or EUR. Open online and it’s sorted before your coffee cools. For the careful planner, this is safe money with zero guesswork.
Address: 65 Chulia Street, OCBC Centre, Singapore 049513
Phone: 1800 363 3333
Operating Hours: Monday to Friday 9:30 AM – 4:30 PM, Saturday 9:30 AM – 12:30 PM
Website: Oversea-Chinese Banking Corporation (OCBC)
If you’re exploring all options, our Bank Fixed Deposit Rates in Singapore roundup gives a broader scan.
CIMB Bank
CIMB is the bank that loves a flash sale. Their online fixed deposit rates often pop higher than the big three, especially for their Preferred Banking customers. A 3-month placement at 1.65% p.a. (or more during promotions) for a S$10,000 minimum is a solid lobang if you act fast.
Everything happens online, and the application wraps up in under five minutes. They also offer Shariah-compliant options, so there’s something for everyone. If you’re the sort who keeps an eye out for the best deal and doesn’t mind moving funds when a promo hits, CIMB is your kind of bank.
Promo rates appear and disappear fast—when you spot one, don’t hesitate. Set aside S$10,000 if you can, and place a 3-month deposit online. The whole process is faster than a zi char order. Preferred banking customers get better rates, but even the standard tier is worth checking weekly.
Address: 30 Raffles Place, #04-01, Singapore 048622
Phone: +65 6333 7777
Email: [email protected]
Operating Hours: Monday to Friday 9 AM – 4:30 PM, Saturday 9 AM – 1 PM
Website: CIMB Bank
Maybank
Maybank makes you feel appreciated—put in a fixed deposit and they might slip you an e-gift voucher if you place a bigger sum. Their base rate of 1.75% p.a. is competitive, and you can open one with just S$1,000. The Choice Date option lets you pick exactly when your deposit matures, which is a nice touch if you’re timing a future expense.
Online placements are smooth, and they also have Islamic financing variants for those who prefer it. For savers who enjoy a little extra perk with their interest, Maybank delivers.
That Choice Date feature is a lifesaver—set maturity exactly when school fees or a bill hits. Start with just S$1,000, and you can ladder placements without locking too much. Maybank’s digital flow is steady, and the occasional e-gift voucher is welcome. Get in before the next promotional window closes.
Address: 2 Battery Road, Maybank Tower, Singapore 049907
Phone: 1800 629 2265
Operating Hours: Monday to Friday 10 AM – 6:30 PM
Website: Maybank
Hong Leong Finance
Hong Leong Finance is the one where you can change your mind without getting penalised. If you need to pull out your fixed deposit early, they won’t charge you—just no interest paid. For someone who values flexibility, that’s huge. Their online 1.65% p.a. rate is decent, and the digital application through HLF Digital is quick.
The minimum deposits are accessible, and the process feels reassuringly personal, whether you do it on your phone or walk into a branch. If you want a safety net while your money grows, this is a steady choice.
If you value the escape hatch above all else, this is it. Pull out early and you simply lose the interest—no penalty fees. Place through HLF Digital in minutes, and you get the same warm service as at the branch. Perfect for anyone who might need the cash unexpectedly.
Address: 16 Raffles Quay, #01-05, Hong Leong Building, Singapore 048581
Phone: +65 6415 9118
Operating Hours: Monday to Friday 9 AM – 4:30 PM, Saturday 9 AM – 12 PM
Website: Hong Leong Finance
For an alternative approach where your money stays liquid, take a look at Online Savings Accounts in Singapore.
Standard Chartered Bank
Standard Chartered often pops up with rates that make you sit up—2.30% p.a. is among the higher published numbers for a major bank, and their tenure options are flexible. If you already bank with them, placing a fixed deposit is a few taps away.
The minimum deposit is S$5,000, and everything runs through a clean online platform. It’s a solid pick for anyone who wants a big-brand name with a rate that doesn’t hide.
If you already hold a StanChart account, this is a no-brainer. Log in, transfer S$5,000, and lock it for the tenure that matches your timeline. The published rate sits near the top for major banks, and the platform is clean. Don’t wait—rate movements can be swift.
Address: Marina Bay Financial Centre, Tower 1, 8 Marina Blvd, #01-01, Singapore 018981
Phone: +65 6747 7000
Operating Hours: Monday to Friday 10 AM – 5 PM
Website: Standard Chartered Bank
This round-up is editorial. Suggestions are welcome – tell us what you offer and where.
How to choose
Start with the tenure you can commit to. If you might need the cash in a few months, CIMB’s 3-month deals or UOB’s short tenures are your friend; if you’re letting it sit for a year, DBS and Standard Chartered lead on rates.
Minimum deposit size matters. DBS and Maybank let you in at S$1,000, while others ask for S$5,000 or S$10,000. Check early withdrawal terms—Hong Leong charges no penalty, others may keep your interest if you break the placement early.
Decide if you want a fuss-free digital sign-up or prefer to walk into a branch. All these banks are covered by the Singapore Deposit Insurance Scheme up to S$100,000 per depositor, so your principal is safe. Rates change often, so confirm the latest numbers on the bank’s website before you commit.
| Bank | Indicative Best Rate (Tenure) | Min. Deposit | Early Withdrawal | Online Placement | Unique Perk |
|---|---|---|---|---|---|
| DBS Bank | 2.45% p.a. (12 months) | S$1,000 | Check with the business | Yes | Low minimum for higher rate tier |
| UOB | Competitive rates (various) | S$5,000 (S$250,000 for very short) | Check with the business | Yes | Tenures from 7 days |
| OCBC | Attractive rates (1 month+) | S$5,000 | Check with the business | Yes | Foreign currency FD options |
| CIMB Bank | Up to 1.65% p.a. (3 months, Preferred) | S$10,000 | Check with the business | Yes (under 5 mins) | Shariah-compliant available |
| Maybank | Up to 1.75% p.a. | S$1,000 | Check with the business | Yes | e-gift vouchers for larger sums |
| Hong Leong Finance | Up to 1.65% p.a. (online) | Accessible | No penalty (no interest) | Yes | Penalty-free early withdrawal |
| Standard Chartered Bank | Up to 2.30% p.a. | S$5,000 | Check with the business | Yes | Competitive published rate |
Summary
Whether you’re locking away a small sum for a year or shifting large cash around for short-term gains, these seven providers offer safe, guaranteed returns. Pick based on your timeline, the minimum you can spare, and how easy you want the process to be. Compare the numbers above, then head to the bank’s site to see today’s exact rate.
Disclaimer: Details provided here are accurate at the time of writing but can change. Always confirm the latest rates and terms directly with the bank.
Once your savings plan is settled, maybe reward yourself with a home refresh—we covered Unveiling Singapore’s Premier Curtain Shops.
Frequently asked questions
What exactly is a fixed deposit?
A fixed deposit is a bank deposit that locks your money for a set period at a guaranteed interest rate. You cannot touch the funds until maturity, but in return you earn a higher, predictable yield than a regular savings account.
How does the interest rate work?
The rate is fixed when you place the deposit and does not change, regardless of market movements. Interest is usually paid at the end of the tenure, based on the principal amount and the agreed rate.
Can I withdraw my money before the tenure ends?
In most cases, yes, but you will lose part or all of the interest earned. Some banks charge a penalty, while others, like Hong Leong Finance, simply pay no interest for early withdrawals.
Is my money safe?
Yes. All deposits in Singapore are insured by the Singapore Deposit Insurance Scheme up to S$100,000 per depositor per bank. That means your principal is protected even if the bank runs into trouble.
What is the minimum deposit amount?
It varies. DBS and Maybank start from S$1,000; OCBC, UOB and Standard Chartered ask for S$5,000; CIMB requires S$10,000. Always check the specific promotion, as minimums can differ.
Which bank currently has the highest fixed deposit rate?
Based on published rates, DBS offers up to 2.45% p.a. for a 12-month term, while Standard Chartered reaches 2.30% p.a. CIMB and Maybank run promotional rates that may temporarily be higher, so compare the latest figures on each bank’s website.
