Best Fixed Deposit Rates in Singapore — June 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
Best rate for selected criteria
3.25% p.a.
| Bank | Tenure | Rate (p.a.) | Min. Deposit | Interest on $50k |
|---|---|---|---|---|
| UOBBest | 3 months | 3.25% | $1,000 | $406 |
| DBS | 3 months | 3.20% | $1,000 | $400 |
| Maybank | 3 months | 3.18% | $1,000 | $398 |
| OCBC | 3 months | 3.15% | $1,000 | $394 |
Rates are indicative and may not reflect current promotions. Last updated: 2024-01-01. Always verify directly with the bank before placing a fixed deposit. Interest is subject to 15% withholding tax for foreigners.
Fixed Deposits — Frequently Asked Questions
What are the best fixed deposit rates in Singapore right now?
Fixed deposit rates in Singapore peaked in 2023 at around 3.8–4.0% p.a. for 6–12 month tenures. In 2024, rates have moderated to approximately 3.0–3.5% for most tenures. Standard Chartered and some smaller banks have offered promotional rates above 3.2%. Check our live table above for the latest rates.
Is a Singapore Savings Bond (SSB) better than a fixed deposit?
It depends on your goals. SSBs (currently ~3.0% average over 10 years) offer full capital protection, monthly liquidity, and step-up interest, but lower near-term rates than top FD offers. FDs offer higher short-term rates but lock up your funds for the tenure. SSBs are better for medium-term savings; FDs are better for short-term yield.
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.