Fixed Deposit
![Fixed Deposit](https://cdn.growbeansprout.com/strapi-uploads/compare_fd_1_f8d4b645f4.webp)
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 04 Mar 2024.
Best 3 month FD
- ICBC 3 Month3.50%Minimum sumSGD 500
- Bank of China 3 Month3.50%Minimum sumSGD 500
- CIMB 3 Month3.25%Minimum sumSGD 10,000
Best 6 month FD
- SBI 6 Month3.35%Minimum sumSGD 50,000
- Bank of China 6 Month3.30%Minimum sumSGD 500
- RHB 6 Month3.25%Minimum sumSGD 20,000
Best 12 month FD
- DBS/POSB 12 Month3.20%Minimum sumSGD 1,000
- Bank of China 12 Month3.05%Minimum sumSGD 500
- SBI 12 Month3.05%Minimum sumSGD 50,000