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Updated: 1 May 14 – Version 2 available here

Interest rates are at an all time low now, but Singaporeans who are not keen to place their money in funds or stocks should look at the table below carefully before placing your money in the wrong bank. Of course, MAS only protects the first $20k in your bank account, and the foreign banks definitely provide a better rate compared to the local banks (except for Citibank which is damn miserable). Nevertheless, even the  best rate of 1.38% does not combat inflation so this is definitely only for the weak hearted who cannot stomach ups and downs in the investment field. If you are more adventurous, go for bonds, unit trusts or stocks. Of course, always do your research first and know what you are headed for first!

Fixed deposit rates in Singapore

 

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4 Responses to Which bank offers the best interest rate for fixed or time deposit in Singapore?

  1. tan says:

    highest fixed deposit rate now is at 1.15%.

    pls check http://singaporedepositrate.com for details

  2. Heather says:

    “Which bank offers the best interest rate for fixed or time deposit in Singapore?
    | Cheaponana.com – Your guide to save, earn and maximise your money in Singapore” was a superb
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    Time to squander several time on the net lolz.
    Thanks for your time -Chester

  3. Catherine says:

    Which bank gives the highest rate for saving account or fixed deposit account?

    • Cheaponana says:

      Highest for savings right now would be the DBS Multiplier Account or Standard Chartered Esaver account. I wont advise fixed deposit as the interest rates are pathetic and may not be as good as either as these accounts, plus FD lacks the flexibility

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