However, bear in mind that you may risk losing all or part of your interest if the fund is withdrawn prematurely. Refer to Singapore Fixed Deposits Promotional.

The current Money Lobang's National Average Fixed Deposit Rates for December 2023 is 3.13 p.a. Salary + Save + Spend: You will earn a maximum EIR of 4.65 a year. The average rate collected from the data is presented to depositors as National Average Fixed Deposit Rates to compare their potential returns from various fixed deposits at any bank or finance companies. 1For maximum EIR illustration purposes for your first S100,000: Salary + Save: You will earn a maximum EIR of 4.05 a year. Typically, the longer your FD period is, the higher the interest rate is. You will earn a base interest of 0.05 a year on your entire account balance regardless of whether you fulfil the above categories. This can also be done via iMoney's online calculator. To get maximum returns from your deposits, check the rates of all the banks before opening an FD. Keep yourself updated with the latest FD promotions by checking iMoney's online calculator regularly (Scroll up to use the calculator).ĭifferent banks have different FD interest rates. Interest rates from FD promotions are usually higher than the board rate. Most banks run FD promotions a few times a year in order to entice new and recurring customers. As such, if you have some spare cash that you do not need access to, you can boost your income by choosing to invest in it.

Any pre-termination costs will be deducted from your deposit.FD's generally provide savers with higher interest rates than regular savings accounts. You should therefore determine whether any foreign currency deposit is suitable for you in the light of your investment objectives, financial means and risk profile. Exchange controls may be applicable from time to time to certain foreign currencies. Earnings on foreign currency deposits would be dependent on the exchanges rates prevalent at the time of their maturity if any conversion takes place. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.įoreign Currency Deposits Foreign currency deposits are subject to exchange rate fluctuations that may provide opportunities and risks. 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. Deposit Insurance Scheme Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law.

Ocbc fixed deposit rate sep 2023