Best USD Fixed Deposit Rates in Singapore [June 2026]: Up to 3.90% p.a.

USD fixed deposit rates in Singapore remain higher than SGD fixed deposit rates.

Fixed deposits remain a popular option for those looking for a relatively simple way to earn interest on their savings. Broadly, there are two types to consider: foreign currency fixed deposits and Singapore dollar fixed deposits.

If you already hold US dollars or other foreign currencies and do not intend to convert them back to Singapore dollars soon, you may consider placing them in a foreign currency fixed deposit.

The best USD fixed deposit rate I found in Singapore in June 2026 is 3.90% p.a. from Bank of China for a 9-month tenure, with a minimum deposit of US$2,000.

That said, the higher headline yield comes with trade-offs, as foreign currency fixed deposits come with foreign exchange risk and are not covered by the Singapore Deposit Insurance Scheme.

Here’s a look at the best foreign currency fixed deposit rates available as of 4 June 2026. Do check back regularly as I’ll be refreshing the best USD fixed deposit rates monthly.

The best foreign currency USD fixed deposit rate in Singapore (Updated 4 June 2026)

• The best 12-month US Dollar fixed deposit rate we found was 3.85% p.a. offered by ICBC, for a minimum deposit of US$5,000.
• The best 9-month US Dollar fixed deposit rate we found was 3.90% p.a. offered by Bank of China, for a minimum deposit of US$2,000.
• The best 6-month US Dollar fixed deposit rate we found was 3.80% p.a. offered by ICBC and Bank of China, for a minimum deposit of US$5,000 and US$2,000 respectively.
• The best 3-month US Dollar fixed deposit rate we found was 3.70% p.a. offered by ICBC and Bank of China, for a minimum deposit of US$5,000 and US$2,000 respectively.

The best 12-month foreign currency fixed deposit rates in US Dollar:

The best 9-month foreign currency fixed deposit rates in US Dollar:

The best 6-month foreign currency fixed deposit rates in US Dollar:

The best 3-month foreign currency fixed deposit rates in US Dollar:

Are money market funds a good alternative to USD fixed deposits?

Cash management accounts aim to provide higher potential returns compared to savings accounts.

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. 

As of 2026, the yield on US dollar money market funds is slightly higher or at least competitive compared to the yield on US dollar fixed deposits.

What we also like about money market funds is that it offers greater flexibility compared to fixed deposits.

Examples of cash management accounts include Moomoo Cash Plus, Tiger Vault, Webull Moneybull and Longbridge Cash Plus. 

Learn how to earn 5% p.a. for 360 days on S$4,000 with Longbridge Cash Plus. 

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

How does a foreign currency fixed deposit account work? 

Fixed deposit accounts earn you a guaranteed amount of interest for the money you put in over a specific period of time.

Typically, you will lock in a sum of money and the bank will pay you interest after a fixed period. 

Foreign currency fixed deposit works the same way as your usual SGD fixed deposit, except that your funds are held in foreign currency such as USD, GBP, HKD, etc.

By placing funds in a foreign currency with the bank, you will earn interest rates in that particular foreign currency. 

For example, you put in USD with Bank of China as a foreign currency fixed deposit, and Bank of China will pay you interest in USD at the agreed rate, for example 3.90% p.a.

Here are a few things you'd need to know about a foreign currency fixed deposit account

• There is a foreign currency conversion fee charged whenever you convert SGD to foreign currency and vice versa. Spoiler alert: This fee is not cheap.
• You will need a multi-currency account to deposit your funds in foreign currencies.
• You might not get a return of 3.90% p.a. if you are looking to convert your funds in foreign currency back to SGD.

You can track the latest USD/SGD exchange rate here before deciding whether to place or convert your US dollars.

What are the disadvantages of foreign currency fixed deposit accounts?

#1 - Foreign currency fixed deposit are subject to foreign currency risk

Before deciding to put your money into a foreign currency fixed deposit, you should be aware of foreign currency (FX) risk.

If you are looking to convert your funds in foreign currency back to SGD after the end of the FD cycle, you need to care about FX risk.

Let’s assume you have SGD$ 20,000 and would like to put it into a 12-month 4.20% p.a foreign currency FD to earn a higher interest rate. 

First, you would have to convert the SGD$ 20,000 to USD.

At the end of 12 months, you will have to convert the principle + interest back into SGD.

If you think that you might be getting S$20,840 (inclusive of the 4.20% p.a. interest) … nope.  You might be wrong. 

The truth is, you may or may not get it. It depends on the FX rate at which you exchange your currency at. You can track the USD/SGD exchange rate here.

FX rates fluctuate over time. If SGD appreciates against the USD after 12 months, chances are you will get back less SGD per US dollar. 

This means that your return will be less than 4.20% p.a. 

Too chim? Let me use numbers and show you an illustrative example.

#2 - Foreign currency fixed deposit accounts are not insured

One of the reasons why we like fixed deposit accounts is because our savings are insured by the Singapore Deposit Insurance for up to S$100,000 in a single account.

However, foreign currency deposits are not covered under the Singapore Deposit Insurance Scheme.

Should you consider a foreign currency fixed deposit account?

You can still consider a foreign currency fixed deposit account in the following circumstances:

• You have an existing holding of USD and/or have spending in USD
• You have holding power and do not mind keeping the USD until you are able to get a good exchange rate

Otherwise, it may not be worthwhile putting your money into a foreign currency fixed deposit. 

What would Beansprout do?

USD foreign currency fixed deposits still offer some of the highest interest rates among fixed deposit options in Singapore.

This is because USD deposit rates have remained higher than many Singapore dollar fixed deposit rates, supported by relatively elevated US interest rates.

However, I would only consider a USD fixed deposit if I already hold US dollars and do not need to convert the money back to Singapore dollars soon.

For June 2026, these are the best USD fixed deposit rates that I found:

• The best 12-month US Dollar fixed deposit rate we found was 3.85% p.a. offered by ICBC, for a minimum deposit of US$5,000.
• The best 9-month US Dollar fixed deposit rate we found was 3.90% p.a. offered by Bank of China, for a minimum deposit of US$2,000.
• The best 6-month US Dollar fixed deposit rate we found was 3.80% p.a. offered by ICBC and Bank of China, for a minimum deposit of US$5,000 and US$2,000 respectively.
• The best 3-month US Dollar fixed deposit rate we found was 3.70% p.a. offered by ICBC and Bank of China, for a minimum deposit of US$5,000 and US$2,000 respectively.

You can track the latest USD/SGD exchange rate here before deciding whether to place or convert your US dollars.

That said, I would not place money into a foreign currency fixed deposit just because the headline interest rate looks higher.

Foreign currency fixed deposits come with foreign exchange risk, and are not covered by the Deposit Insurance Scheme in Singapore.

This means the final return in Singapore dollar terms could be affected if the US dollar weakens against the Singapore dollar.

If I prefer not to take on currency risk, I would compare the latest Singapore dollar fixed deposit rates instead.

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.

If you are looking to earn a higher interest rate on foreign currency savings, you may also consider looking at various cash management accounts. Read more to find out how to earn 5% p.a. for 360 days on S$4,000 with Longbridge Cash Plus.

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 my liquidity 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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