Best Fixed Deposit Rates in Singapore [October 2026]: Up to 2.10% p.a.

Singapore fixed deposit rates have risen going into October.

I found more competitive rates from HL Bank, Singapura Finance and Bank of China as banks and finance companies refreshed their promotions.

The highest broadly available fixed deposit rate I found is 2.10% p.a. from HL Bank for 24 months. HL Bank also offers 2.05% p.a. for 6 and 12 months, with a minimum online placement of S$10,000.

Among 12-month fixed deposits, Singapura Finance’s Vivid Fixed Deposit also stands out at 2.08% p.a.

I last updated this guide on 1 October 2026, after checking the latest fixed deposit promotions from major banks and finance companies in Singapore.

I’ve compared the best fixed deposit rates in Singapore across different tenures and minimum placement amounts to help you see which offers are most competitive before deciding where to place your savings.

Do check back regularly as I’ll be refreshing the best fixed deposit rates weekly. 

The best fixed deposit rate in Singapore (Last updated as of 1 October 2026)

• The best 3-month fixed deposit rate we found was 1.60% p.a. from Bank of China, with a minimum placement of S$500 through mobile banking.
• The best 6-month fixed deposit rate we found was 2.05% p.a. from HL Bank, with a minimum online placement of S$10,000
• The best 9-month fixed deposit rate we found was 2.00% p.a. from Bank of China, although this requires a minimum placement of S$200,000.
• The best 12-month fixed deposit rate we found was 2.08% p.a. from Singapura Finance, with a minimum placement of S$10,000 and maximum placement of S$100,000.

• The best 24-month fixed deposit rate we found was 2.10% p.a. from HL Bank, with a minimum online placement of S$10,000.

  Eligible new-to-bank Bank of China customers can earn a higher 2.18% p.a. for 4 or 8 months with a placement of S$200,000 to S$250,000. 

  Separately, eligible customers starting a new CIMB Preferred Banking relationship can earn 2.43% p.a. for 6 months by placing S$250,000 in fresh funds.

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What are the fixed deposit rates offered by banks in Singapore?

🌱 Bank of China fixed deposit rates

Bank of China is offering promotional SGD fixed deposit rates of up to 2.00% p.a. for new placements through the BOC Mobile Banking app. 

With a minimum placement of S$500, I can earn 1.60% p.a. for 3 months and 1.70% p.a. for 6, 9 or 12 months.

Higher rates are available with larger placements. With S$20,000, the rates rise to 1.80% p.a. for 6 months, 1.85% p.a. for 9 months and 1.90% p.a. for 12 months. With S$200,000, Bank of China offers 2.00% p.a. for 6, 9 or 12 months. 

Separately, eligible new-to-bank customers can earn an even higher 2.18% p.a. for 4 or 8 months when placing between S$200,000 and S$250,000. A placement of S$100,000 to S$199,999.99 earns 2.08% p.a. This new-to-bank promotion runs until 31 October 2026 and requires customers to open a BOCSG Multi-Currency Savings Account and Time Deposit Account during the promotion period.

Bank of China adjusts its regular fixed deposit promotional rates fairly frequently. The current rates are effective until 4 October 2026, so I would check the latest rate sheet before making a placement.

The Bank of China adjusts its fixed deposit rate fairly regularly and may offer promotional rates from time to time, you can find out the latest fixed deposit rate offered by Bank of China here.

🌱 HL Bank fixed deposit rates

HL Bank has raised its promotional fixed deposit rates for selected tenures.

You can now earn 2.05% p.a. for 6 or 12 months, 1.88% p.a. for 18 months and 2.10% p.a. for 24 months, with a minimum online placement of S$10,000 through HLB Connect.

For branch placements, the minimum is substantially higher at S$100,000.

The 2.05% p.a. 6- and 12-month rates are among the highest broadly available rates I found for these tenures, while the 2.10% p.a. rate requires setting aside the money for 24 months.

HL Bank adjusts its fixed deposit rate fairly regularly and may offer promotional rates from time to time, you can find out the latest fixed deposit rate offered by HL Bank here.

🌱 Singapura Finance fixed deposit rates

Singapura Finance has raised its fixed deposit rates, with its Vivid Fixed Deposit now offering 2.08% p.a. for 12, 18 or 24 months. The minimum placement has also fallen to S$10,000, with a maximum placement of S$100,000.

The Vivid Fixed Deposit can be placed digitally and requires an active Vivid Savings Account. It is available to Singapore citizens and permanent residents aged 16 and above. 

For customers who prefer a counter placement, Singapura Finance's Counter Fixed Deposit Promotion offers 1.75% p.a. for 6 months and 1.98% p.a. for 12, 18 or 24 months, with a minimum placement of S$20,000 in fresh funds. Customers must also have an existing savings account or open one with at least S$200.

The new rates are effective from 29 September 2026.

You can find out more about Singapura Finance's Vivid Fixed Deposit and its latest Counter Fixed Deposit Promotion.

🌱 Citibank fixed deposit rates

Citibank is offering a promotional fixed deposit rate of 2.00% p.a. for 6 months, with a minimum placement of S$5,000 in new funds. The 3-month rate is 1.40% p.a., while eligible existing Citi customers can earn 1.70% p.a. for 9 months.

For existing Citi customers, promotional placements range from S$5,000 to S$5 million and must be made using new funds. Existing customers can make a placement through the Citi Mobile App. 

New customers can also access the 3- and 6-month promotional rates by starting a Citigold or Citigold Private Client relationship. Citigold requires investible assets of S$250,000, while Citigold Private Client requires S$1.5 million. 

The promotion has been extended and is now available until 31 October 2026.

You can find the latest fixed deposit rates offered by Citi here and the Citibank Exclusive SGD New Funds Time Deposit Promotion terms and conditions here.

🌱 CIMB fixed deposit rates

CIMB is offering online promotional fixed deposit rates of up to 2.00% p.a. for 12 months. The minimum placement for these promotional rates is S$10,000. 

For Personal Banking customers, CIMB offers 1.75% p.a. for 6 or 9 months and 1.95% p.a. for 12 months. Preferred Banking customers can earn 1.80% p.a. for 6 or 9 months and 2.00% p.a. for 12 months.

From 1 to 31 October 2026, CIMB is also offering a promotion on its 12-month Why Wait Fixed Deposit-i. I can receive S$88 cash credit for every S$100,000 in fresh funds placed, capped at S$176 per eligible fixed deposit account. 

Separately, eligible new-to-bank or new-to-Preferred customers who start a CIMB Preferred Banking relationship with S$250,000 in fresh funds can earn 2.43% p.a. on a 6-month SGD fixed deposit or Why Wait Fixed Deposit-i. This promotion also runs until 31 October 2026. 

You can find out more about the latest CIMB fixed deposit rates and the promotion here.

🌱 Maybank fixed deposit rates

Maybank has raised its standalone promotional fixed deposit rates to 1.85% p.a. for 6 and 12 months, while the 9-month rate is 1.80% p.a. The minimum placement is S$20,000.

For those who are willing to bundle their fixed deposit with funds in a Maybank savings or current account, Maybank is offering a higher promotional rate of 2.00%p.a. and 2.10% p.a. for its 9-month and 12-month Deposits Bundle Promotion respectively. This works out to an effective rate of 1.82% p.a. and 1.91% p.a for the respective period.

To access the bundle promotional rates, you will need to place fresh funds into a Time Deposit and a Maybank savings or current account at a 1:10 ratio. This means that for every S$10,000 placed in the Time Deposit, S$1,000 has to be earmarked in a savings or current account for the same tenure as the Time Deposit.

Because the savings or current account portion earns a lower base interest rate, the combined effective return is lower than the headline fixed deposit rate.

You can find out the full terms and conditions of the Maybank fixed deposit promotion here.

🌱 RHB fixed deposit rates

RHB Personal Banking customers can earn 1.40% p.a. for a 3-month fixed deposit through either mobile banking or a branch.

For the longer tenures, RHB offers Personal Banking customers 1.80% p.a. and 1.90% p.a. for six months and 12 months respectively at a branch or through mobile banking.

RHB Premier Banking customers can earn an additional 0.10 percentage points across all tenures. The highest rate is 1.90% p.a. and 2.00% p.a. respectively for both 6-month and 12-month fixed deposit.

The minimum placement amount for the promotional rates is S$20,000.

However, do note that the fixed deposit rates offered by RHB are promotional rates that are subject to change without prior notice. 

You can find out the latest fixed deposit rate offered by RHB here.

🌱 SingFinance fixed deposit rates

SingFinance is offering FD Online rates of up to 1.80% p.a. for fresh-fund placements.

With at least S$10,000 in fresh funds, I can earn 1.50% p.a. for 3 months, 1.80% p.a. for 6 or 12 months, 1.60% p.a. for 18 months and 1.50% p.a. for 24 months.

For smaller placements starting from S$1,000, SingFinance offers 1.50% p.a. for 6, 12 and 18 months.

For FD Online placements, the funds must be fresh funds transferred into a GoSavers Account before the fixed deposit is placed online. SingFinance states that its promotional rates may change without prior notice.

You can find out the latest fixed deposit rate offered by SingFinance here.

🌱 HSBC fixed deposit rates

HSBC is offering promotional fixed deposit rates of up to 1.80% p.a. for Personal Banking customers.

With at least S$30,000 in fresh funds, I can earn 1.40% p.a. for 3 months and 1.80% p.a. for 6 months. For longer tenures, the promotional rates are lower at 1.20% p.a. for 9 months and 1.30% p.a. for 12 months.

HSBC Premier customers can access higher promotional rates. Premier customers can earn 2.00% p.a. for 6 months, while the rates for 3, 9 and 12 months vary depending on the Premier customer segment. 

You can find out more about the fixed deposit rate offered by HSBC here. 

🌱 GXS Boost Pocket rates

GXS Bank’s Boost Pocket offers a base interest rate of 0.88% p.a., credited daily, with optional bonus interest if you hold your funds to maturity. 

Depending on the tenure selected, you can earn up to an additional 0.87% p.a., bringing the total return to:

• 1.01% p.a. for the 1-month tenure
• 1.22% p.a. for the 3-month tenure
• 1.30% p.a. for the 8-month tenure
• 1.40% p.a. for the 4-month tenures
• 1.75% p.a. for the 12-month tenures

The highest rate is now 1.75% p.a. for the 12-month Boost Pocket, up from 1.60% p.a. previously.

There are currently no premature-withdrawal fees, but early closure is subject to GXS approval and all bonus interest is forfeited.

Find out more about GXS Savings Account and the promotion here. 

🌱 SBI fixed deposit rates

SBI is offering a promotional rate of 1.70% p.a. for a 6-month fixed deposit and 1.75% p.a. for a 12-month fixed deposit, respectively.

The minimum deposit required to earn the higher promotional rate is S$50,000, and the promotion applies to new SGD fixed deposits.

You can find the latest fixed deposit rates offered by SBI here and their latest promotional fixed deposit rates here.

🌱 Hong Leong Finance fixed deposit rates

Hong Leong Finance is offering promotional fixed deposit rates of up to 1.70% p.a. for 12 months. Its latest rates were published on 25 September 2026. 

For its regular Fixed Deposit Promotion, placements of S$20,000 to below S$100,000 can earn 1.45% p.a. for 6 months, 1.55% p.a. for 9 months and 1.65% p.a. for 12 months. With S$100,000 and above, the respective rates rise to 1.50%, 1.60% and 1.70% p.a. 

For customers who prefer to place their fixed deposit online through HLF Digital, the Online Fixed Deposit Special offers up to 1.70% p.a. for 12 months. With S$5,000 to below S$20,000, the rates are 1.40% p.a. for 6 months, 1.50% p.a. for 9 months and 1.60% p.a. for 12 months. 

With an online placement of S$20,000 and above, I can earn 1.50% p.a. for 6 months, 1.60% p.a. for 9 months and 1.70% p.a. for 12 months. The online promotion is available to customers with both a Hong Leong Finance fixed deposit account and savings account. 

Both promotions are available from 25 September 2026 until further notice and apply to new placements and renewals for individual accounts. If the fixed deposit is withdrawn before maturity, no interest will be paid.

Hong Leong Finance adjusts its fixed deposit rate fairly regularly, and you can find out the latest fixed deposit rate offered by Hong Leong Finance here.

🌱 ICBC fixed deposit rates

ICBC is offering SGD fixed deposit promotional rates of up to 1.75% p.a., with the latest rates effective from 29 September 2026. 

For e-banking placements, the minimum deposit is S$500. With S$500 to below S$20,000, I can earn 1.25% p.a. for 3 months, 1.30% p.a. for 6 months, 1.10% p.a. for 9 months and 1.15% p.a. for 12 months. 

For placements of S$20,000 to below S$200,000, the rate rises to 1.70% p.a. for 6, 9 or 12 months.

With S$200,000 and above, ICBC offers its highest promotional rate of 1.75% p.a. for 6, 9 or 12 months.

The promotional rates above apply to placements made through ICBC e-banking.

ICBC adjusts its fixed deposit rate fairly regularly, and you can find out the latest fixed deposit rate offered by ICBC here.

🌱 Standard Chartered fixed deposit rates

Standard Chartered Fresh Funds Time Deposit Promotion is on-going from 01 October 2026 to 08 October 2026

For a 12-month time deposit, Standard Chartered is currently offering a rate of 1.70% p.a. for Personal Banking customers with a minimum placement of S$25,000. 

Priority Banking and Priority Private customers can enjoy a higher rate of 1.85% p.a. and 1.95% p.a. respectively for the same 12-month tenure.

You can find the latest promotional fixed deposit rates offered by Standard Chartered here.

🌱 UOB fixed deposit rates

UOB is currently offering Singapore Dollar fixed deposit promotional rates of up to 1.70% p.a. for customers placing fresh funds of at least S$10,000.

Customers can now earn 1.60% p.a. for 6 months, 1.65% p.a. for 10 month, and 1.70% p.a. 12 months, with a minimum placement of S$10,000 in fresh funds.

The promotion runs from 23 September to 31 October 2026 and placements can be made through UOB Personal Internet Banking or the UOB TMRW app.

You can find the latest fixed deposit rate offered by UOB here. 

The fixed deposit rate of 1.70% p.a. is still lower than the highest effective interest rate that can be earned on the UOB One account.

🌱 OCBC fixed deposit rates

OCBC has also raised its promotional fixed deposit rates.

Online placements currently earn 1.50% p.a. for 6 months and 1.65% p.a. for 12 months.

Branch placements earn slightly less at 1.45% p.a. for 6 months and 1.60% p.a. for 12 months.

You will need to place a minimum of S$20,000.

You can find the terms and conditions of the OCBC fixed deposit here.

🌱 MariBank fixed deposit rates

MariBank is currently offering standard fixed deposit rates of 1.48% p.a. for 12 months and 1.38% p.a. for 6 months, with placements starting from just S$100.

Find out more about the MariBank Savings Account.

🌱 DBS fixed deposit rates

You can earn an interest rate of 0.80% p.a. for a 6-month fixed deposit and 1.00% p.a for a 9-month and 12-month fixed deposit with a maximum deposit amount of S$19,999.

I also noticed some sharing in the Beansprout community about the senior citizen fixed deposit rate offered by DBS.

If you are 55 years and above, you can earn an additional 0.10% p.a. interest on your fixed deposit for tenors of at least six months with the Premier Income Account (PIA), and a minimum deposit of S$10,000 per placement.

This means that you can get a 12-month fixed deposit rate of 1.10% p.a. instead of 1.00% p.a. for deposits of S$10,000 to S$19,999 with DBS.

Unlike other banks, DBS offers a higher fixed deposit interest rate for smaller deposit amounts. 

For example, the interest rate you would earn falls to just 0.05% p.a. for deposits of S$20,000 and above.

You can find the latest fixed deposit rate offered by DBS here. 

What are fixed deposits?

Fixed deposits earn you a fixed amount of interest for the money you put in over a specific period of time. 

Typically, you will lock in a sum of money (usually a minimum of $10,000) and the bank will pay you interest after a fixed period. 

The downside to a fixed deposit is that you will have to pay a penalty fee if you want to withdraw your money early.

Hence, Fixed deposits tend to work best as part of your Liquidity Pot, especially for money you do not need for the next few months. 

How do fixed deposit accounts compare to best savings accounts?

As seen from the Telegram group, many people are also interested in the best savings accounts apart from fixed deposit accounts. 

However, do note that the interest rates offered by savings accounts are subject to change, and you are not able to ‘lock-in’ the interest rates like for fixed deposits.

The highest maximum effective interest rate offered by savings accounts currently is 5.85% p.a., above the best fixed deposit rate.

Check out the best savings accounts with the highest interest rates here. 

How do fixed deposit rates compare to Singapore T-bill?

Beansprout has written enough on the Singapore treasury bill (T-bill) , so I will not be going into too much detail on them. 

The yield for the most recent 6-month Singapore T-bill auction was 1.92%, lower than the 6-month promotional fixed deposit rate of 2.05% p.a. offered by HL Bank.

What is also important to note is that fixed deposits are covered under the Deposit Insurance Scheme.

This means that in the event that the bank faces problems repaying your money, all your insured deposits will be insured up to S$100,000” can imply S$100,000 per account. SDIC's limit is S$100,000 in aggregate per depositor per Deposit Insurance Scheme member.

The Singapore T-bill is backed by the Singapore Government, but this does not make them entirely risk free. 

For example, you may lose part of your capital if you decide to sell your T-bill before six months. In this case, it might not just be the interest rates you are losing out on! 

I have summarised my thoughts comparing fixed deposit rates with the Singapore T-bills below.

Learn more about the Singapore T-bill here.

How do fixed deposit rates compare to Singapore Savings Bonds (SSBs)?

The Singapore Savings Bond (SSB) provides you with a simple and low-cost way to generate safe returns. Backed by the Singapore government, the SSB allows you to lock in long-term interest rates while offering flexibility of redeeming with no penalty. 

The 1-year average return on the most recent issuance of the Singapore Savings Bonds (SSB) is 1.65%, lower than the best 12-month fixed deposit rate offered by the banks.

The minimum investment amount for the SSB is S$500, while the minimum fixed deposit amount varies widely, from a few hundred dollars for some offers to S$20,000 or more for others.

As of 1 October 2026, our SSB interest rate projection estimates that the next SSB may offer a 10-year average return of approximately 2.46%.

Learn more about Singapore Savings Bonds here.

How do fixed deposit rates compare to cash management accounts?

You might have heard of Moomoo Cash Plus, Webull Moneybull or Longbridge Cash Plus discussed amongst investors in recent months. 

These are all cash management accounts that are seen as relatively safe and highly liquid alternatives to cash in the bank. 

By putting your money in a cash management account, you will be investing in money market funds or bond funds. 

These professionally managed funds will put your cash in instruments such as bank deposits or short-term debt to earn higher interest rates. 

Cash management accounts offer a relatively low-risk option for us to earn a potentially higher return on our cash.

For example, the indicative 7-day annualised yield of the Fullerton SGD Cash Fund was about +1.11% as of 30 September 2026

Learn more about the Fullerton SGD Cash Fund here. 

Compared to fixed deposits, cash management accounts offer more flexibility as they can be redeemed at short notice, usually in a few days. 

Unlike fixed deposits, cash management accounts are not capital guaranteed and are not insured under Singapore Deposit Insurance Corporation (SDIC).

Check out our comprehensive guide to cash management accounts in Singapore to select the best cash management account for your portfolio. 

Some robo-advisors have also introduced cash management solutions that offer guaranteed rates. They generate the returns by investing your funds into fixed deposits products provided by banks in Singapore.

For example, Syfe Cash+ Guaranteed is the cash management solution offered by Syfe which offers investors guaranteed rates for their idle cash. 

Learn more about Syfe Cash+ Guaranteed here. 

In addition, StashAway Simple Guaranteed also offers a cash management solution for 1 month, 3 months, 6 months or 12 months.

Learn more about StashAway Simple Guaranteed here. 

How do fixed deposit rates compare to best USD fixed deposit rates?

Some of you may have noticed that foreign currency fixed deposit accounts are now offering a higher interest rate compared to Singapore dollar fixed deposit accounts.  

While USD fixed deposit rates are higher compared to Singapore dollar fixed deposit rates, you should beware of foreign currency risk. Also, foreign currency fixed deposits are not covered by the Singapore Deposit Insurance Scheme.

Check out our guide to the best USD fixed deposit rates in Singapore to get the latest foreign currency fixed deposit rates.

Are there better fixed deposit rates for priority banking accounts?

Some banks may also offer priority banking customers a higher interest rate for fixed deposit accounts.

For example, CIMB Preferred Banking customers can earn 2.00% p.a. for 12 months and 1.80% p.a. for 6 and 9 months, with a minimum online placement of S$10,000. New customers starting a CIMB Preferred Banking relationship can also earn a higher promotional rate of 2.43% p.a. for 6 months by placing S$250,000 in fresh funds. This welcome promotion runs until 31 October 2026.

Citigold customers can earn 1.40% p.a. for a 3-month fixed deposit or 2.00% p.a. for 6 months using fresh funds. The minimum placement is S$5,000. The promotion runs until 31 October 2026.

Standard Chartered Priority Banking customers can earn 1.85% p.a. for a 12-month time deposit, compared to 1.70% p.a. for Personal Banking customers. The minimum placement is S$25,000 in fresh funds. Priority Private customers can earn a higher rate of 1.95% p.a. for 12 months. The promotion runs until 8 October 2026.

HSBC also offers higher promotional rates to its Premier customers. HSBC Premier customers can earn 1.60% p.a. for 3 months and 2.00% p.a. for 6 months, with a minimum placement of S$30,000 in fresh funds.

RHB Premier Banking customers can earn 1.50% p.a. for 3 months, 1.90% p.a. for 6 months and 2.00% p.a. for 12 months, with a minimum placement of S$20,000. This is 0.10 percentage point above the rates offered to Personal Banking customers across the same tenures.

To find out the best fixed deposit interest rates for priority banking accounts, check out our comprehensive guide to priority banking accounts in Singapore.

What would Beansprout do?

I use fixed deposits as one of the ways to park my cash and ensure I have sufficient cash set aside for emergency uses. 

When comparing fixed deposits, I would consider the interest rate, minimum placement amount and how long I am comfortable setting aside my money.

As of 1 October 2026, Bank of China offers the highest 3-month fixed deposit rate I found at 1.60% p.a., with a minimum placement of just S$500 through mobile banking. 

For a 6-month tenure, HL Bank offers 2.05% p.a. with a minimum online placement of S$10,000.

For 9 months, Bank of China offers up to 2.00% p.a. with S$200,000. With a smaller placement of S$20,000, its rate is 1.85% p.a. 

For 12 months, Singapura Finance offers the highest broadly available rate I found at 2.08% p.a. through its Vivid Fixed Deposit, with a minimum placement of S$10,000. HL Bank is close behind at 2.05% p.a., also with a minimum online placement of S$10,000.

If I am comfortable setting aside my money for longer, HL Bank offers 2.10% p.a. for 24 months. This means I would also consider whether the additional interest is worth committing my cash for a longer period.

There is a higher 2.18% p.a. rate from Bank of China for 4 or 8 months, but this is limited to eligible new-to-bank customers placing between S$200,000 and S$250,000. I would therefore consider this separately from the more broadly available fixed deposit offers.

Apart from fixed deposits, I would also use a mix of savings accounts, T-bills, Singapore Savings Bonds (SSBs) and money market funds for my pot of liquidity funds. 

I share more about the best savings accounts with the highest interest rate in Singapore here.

To learn about how money market funds offer more liquidity compared to fixed deposits, you can read more here. 

You can also find out more about Singapore T-bills and Singapore Savings Bonds here. 

By finding the best place to park my cash, I know that I have a stable base for the rest of my portfolio to stay invested through markets ups and downs.

When this pot is properly set up, I know I can ride through market volatility without being forced to sell my investments at the wrong time.

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