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Best Fixed Deposit Rates in Singapore — July 2026

Compare Singapore fixed deposit rates from all major banks. Filter by tenure and your deposit amount to find the highest rate available to you.

Fixed Deposit Rates

Singapore banks · Best rates by tenure

BankTenureRate (p.a.)Min. DepositInterest on $50k
No rates found for selected criteria.

Rates are indicative and may not reflect current promotions. Last updated: 2026-06-15. Always verify directly with the bank before placing a fixed deposit. Interest is subject to 15% withholding tax for foreigners.

When Fixed Deposits Beat a Savings Account

High-yield savings accounts cap their bonus interest — OCBC 360 pays bonus rates on the first $75,000, UOB One on the first $150,000. If your savings exceed those caps, the excess earns near-zero base interest (0.05% p.a.). Fixed deposits have no cap, making them significantly better for large balances that exceed your savings account's bonus tier limit.

The trade-off is liquidity. FD money is locked for the full tenure — breaking early typically means forfeiting all interest earned. If you need flexibility, Singapore Savings Bonds (SSBs) can be redeemed at any month-end with no penalty, and 6-month T-bills offer competitive yields with shorter lock-in. FDs make most sense when you're confident you won't need the money until maturity.

Worked example — $200,000 total savings

First $75k → OCBC 360 (salary + spend qualified, ~2.15%) ~$1,613/yr
Remaining $125k → 12-month FD at 3.0% ~$3,750/yr
Alternative: all $200k in OCBC 360 (excess $125k at base 0.05%) ~$1,676/yr
Extra interest from the split strategy +$3,687/yr

FD rates move with SORA and global rate cycles. Check the table above for current best rates before placing a new deposit.

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Savings Account Optimiser OCBC 360, UOB One, DBS Multiplier Home Loan Rates Fixed vs floating comparison FIRE Calculator How FD fits into your FIRE plan Salary Take-Home How much to deposit

Fixed Deposits — Frequently Asked Questions

What are the best fixed deposit rates in Singapore right now?
SGD fixed deposit rates have fallen well below their 2023 peak (around 3.8–4.0% p.a.) as interest rates eased. As of our last update, the top promotional rate is about 1.60% p.a. (GXS, 12-month), with most banks offering roughly 1.0–1.6% p.a. on 6–12 month tenures. The strongest offers usually need fresh funds and a minimum placement. Check the live table above for the full comparison.
Is a Singapore Savings Bond (SSB) better than a fixed deposit?
It depends on your goals. SSBs offer full capital protection, monthly liquidity, and step-up interest over up to 10 years, but their near-term rates move with government bond yields. FDs lock your funds for a set tenure in exchange for a guaranteed promotional rate. SSBs suit flexible medium-term savings; FDs suit a fixed short-term yield. Compare the current SSB rate against the top FD offer before deciding.
What is the minimum amount for a fixed deposit in Singapore?
Most Singapore banks require a minimum deposit of $1,000 to $10,000 for standard fixed deposit rates. However, promotional "jumbo" FD rates often require minimum deposits of $20,000–$250,000. For Standard Chartered and Maybank, the minimum for standard rates is $25,000.
Are fixed deposits insured in Singapore?
Yes. Singapore Deposit Insurance Corporation (SDIC) insures deposits up to $100,000 per depositor per bank. This covers both SGD and foreign currency fixed deposits in full-bank licence holders. For deposits above $100,000, consider spreading across multiple banks.
Do I pay tax on fixed deposit interest in Singapore?
Singapore residents do not pay income tax on bank deposit interest earned from Singapore-licensed banks. However, non-residents (foreigners without tax residency in Singapore) are subject to a 15% withholding tax on interest income from Singapore sources.