During this commitment period, your funds are locked-in and you won’t be able to access it without incurring a penalty fee. Some might not even have a specific expiry date… The banks will just advertise it as “for a limited time only” to feed your FOMO mentality.. Fixed deposit interest rates can change dramatically with promotional offers, which can make it difficult to keep up with the best rates currently available. The minimum placement for this promotion is S$10,000. RM 1,000 to RM 5,000. Some of the offers that appear on this website are from companies which ValueChampion receives compensation. This … Consider this if you're open to an HSBC Advance banking relationship. Tenure Interest Rate p.a. *Full T&Cs apply. Forget about the Singapore Savings Bonds. No. You are guaranteed that your money will earn interest as long as you leave your money to the banks to a … A Fixed Deposit account (FD) is a financial instrument offered by banks, which allows you to save your money for a fixed period of time to generate higher interest compared to a conventional savings account. SGD deposits are insured up to S$75k by SDIC. CIMB. Click here for more information. Learn more. Find out more *T&Cs apply. Consider this if you're familiar with online banking and want a longer tenure. You’re sitting on a considerable amount of cash which is earning next to nothing (0.05% p.a.) Eligibility requirements. Fixed deposit accounts are a low-risk form of investment that allow consumers to earn interest on funds placed with the bank for a predetermined–or fixed–amount of time. Instant cash when you sign up. Charge into the new year with an abundance of wealth. It's worth mentioning that most banks only offer promotions at milestone tenures (3, 6, 9, or 12 months), so this is a remarkable fit if 10 months is closer to your desired length. Other banks' promotions often boost rates for medium size deposits of 6 to 12 month tenure, which can compromise DBS SGD Time Deposit's competitiveness in this range. Interest Rate: 0.50%, Minimum Placement: S$5,000, Promotion Valid Until: 30th November 2020. Tenure Length. Under the Bundle Promotion, current account holders who make a minimum deposit of S$50,000 with Citi for a tenure of 3 months earn between 1.00% and 2.00% p.a. Earn a promotional interest rate of 0.40% p.a. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear). Beyond its promotion, Citibank's Time Deposit offers a broad range of tenures and rates fairly consistent regardless of deposit size. The second promotion, valid until January 31, offers a promotional rate for both new and existing HSBC Premier and Personal Banking Customers of 0.25 % p.a. Promotions; Accounts. Interest Rate Popularity. We've identified the best fixed deposit promotions currently on the market, clarifying key factors that may influence your decision–deposit tenure, size requirement (placement amount), and interest rate per annum. Only select tenures and deposit sizes are featured for reference, Board rates only, promotions are not displayed. This is 0.05% more than the norm. for 3 months, 0.65% p.a. Earn returns with a minimum sum of $500 in the latest Singapore Savings Bond. Being a fixed deposit account owner, you should not fear that you will lose your money overnight. on completed quarter(s) and a fee of S$50 applies. Standard Chartered Singapore Dollar Time Deposit stands out as one of the only accounts offering both promotion rates as well as particularly long tenure options. for 2 months tenure with a minimum placement of S$5,000. "Promotion Period" ends on 31 August 2018, and is subject to change without notice. If you can afford a longer period such as 18 months, the interest rate is 1.30% p.a. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. For premature withdrawal, interest will be payable @ 0.10% p.a. In other words, this is one of the few accounts where tenure can be set for unique terms such as 4, 7, 13 months or others. In many western countries, FD is also known as term deposit or time deposit. Last updated January 2021 P3W2D Past Event. Home > Deposits > Latest Promotion Facebook; Latest Promotion. However, SC SGD Time Deposits at board rates are also worth considering, especially if you're looking to deposit funds for a prolonged period of time. Promotional interest rates are subject to change without prior notice. Interest Rate: Refer below, Minimum Placement: S$1,000, Promotion Valid Until: Not stated. 1 HSBC 2021 SGD Jade Time Deposit Promotion Terms and Conditions apply. S$5,000 deposit for 24 months tenor, qualifies for semi-annual promo rates of 0.40%, 0.80%, 1.30% and 2.10%. The current low interest rates offered by most banks remained unattractive to me. for 18 months tenure and 0.75% p.a. You can choose a bank to invest a certain amount of money with, called a deposit. This is one of the highest 24 month rates on the market, making the HSBC Advance Fixed Deposit excellent for long-term deposits. If the fixed deposit is withdrawn before its maturity, no interest will be payable unless UOB decides otherwise (in which case, the amount of interest payable will be determined by UOB). The ability to make a big deposit is also key to accessing the Maybank iSAVvy promotion. for a 3 months placement. 2 HSBC 2021 SGD Premier Time Deposit Promotion Terms and Conditions apply. With a current promotion in place, a minimum deposit of only S$20,000 can earn anywhere 0.45% p.a. ICBC Step-Up Fixed Deposit is currently offering two promotions to all customers with fresh funds fixed deposit placement in SGD, one for 12 months and the other for 24 months tenor. Enjoy up to 0.75% p.a. Rates w.e.f. to 1.30% p.a. If you're looking to invest less than S$1,000, you'll have a very hard time qualifying for a fixed deposit account with most banks. Maybank offers competitive interest rates for time deposits that are traditionally structured as well as those centered on e-banking. You will also have to agree on the length of your investment, called tenor or tenure, and the interest rate that will be paid upon maturity. For 6 months placement of S$25,000 at 0.20% p.a., the interest that you will receive upon maturity is S$25.00. All Accounts Fixed Deposits Current & Savings Deposit Promotions. With a current promotion, consumers receive 0.20% p.a. HDB Home Loan Promotion. However, this does not affect our recommendations or advice, which are grounded in thousands of hours of research. (HSBC) 6-Month: 0.35% p.a. (ICBC) 3-Month: 0.30% p.a. In fact, consumers can earn up to 0.68% p.a. Over-the-counter or machine cash deposits are usually fine too but do take … Minimum: RM5,000 Tenure: 3/6/12 months Offer Period: 11 November 2020 to 20 January 2021 * Only for CIMB eFD via CIMB Clicks. for 18 months tenure and 0.75% p.a. Hong Leong Finance Fixed Deposit offers competitive promotional rates for deposits of medium-length tenure, making it a great option if you're considering investing for about 1 year. Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. TALK TO US … which will give you $195.84 upon maturity. 1. Download digibank Now. For details, please refer to the relevant promotion materials or contact the staff of BOCHK. In addition, if investing for longer than 2 months, the minimum deposit is only S$500, making these rates far more competitive compared to the market standard. for 12 months if deposited via e-Banking. Fixed deposit interest rates are generally low unless a bank decides to offer a promotional rate. Consider this if you're seeking top promotional rates for as little as S$500 deposit. The 2 year tenure compounds every 6 months, with rates of 0.20% for the first cycle, 0.45% for the second, 0.60% for the third and 0.75% for the 4th. Citibanking, Citigold & Citigold Private Client customers are excluded. Earn interest return with lowest risk. Alternatively, you may print a blank form and complete them manually here. Consider this if you want to make a deposit with greater flexibility for withdrawal. This month, you’d need $25,000 to unlock the highest rate of 1.40 per cent p.a. for 6 months, 0.70% p.a. Even better, OCBC SGD Time Deposit has a promotion available with attractive rates–consumers can earn 0.50% p.a. on a 3-month time deposit when you purchase an insurance plan. The 12 months tenor offers promotional compound interest of 1.5%, 1.7%, 1.9% and 2.1% for each quarter, 1-4 respectively, with a minimum deposit of S$5,000. Fixed Deposit – Singapore Dollar & Foreign Currency. across 12 months with just S$20,000 minimum deposit. 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