Fixed Deposit
At a glance
Fixed deposits 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.
Risks
- Liquidity Risk: Deposit is typically locked up for at least 3 months, with potential penalty for early withdrawal
Latest bank rates
Based on various bank websites as of 22 Aug 2024.
Best 3 month FD
- Bank of China 3 Month3.00%Minimum sumSGD 500
Best 6 month FD
- Maybank 6 Month2.90%Minimum sumSGD 20,000
Best 12 month FD
- DBS/POSB 12 Month3.20%Minimum sumSGD 1,000