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Interest rates have stabilised for November 2022
After hitting a high of above 3% for October, Interest rates look to push
further up for November after the FOMC meeting.
|
BANKS |
INTEREST |
TENURE |
MIN DEPO |
|
|
3.3% 3.4%
|
24 |
$5,000 |
|
|
3.85% 3.9%
|
18 |
$10,000 |
|
|
3.2%-Citigold
|
12 |
$50,000 |
|
|
1.7%
|
18 |
$1,000 |
|
|
3.5% 3.8%
|
12 |
$100,000 $500,000 |
|
|
3.18% 3.3%
|
18 |
$20,000 $1,000,000 |
|
|
3.2%
|
12 |
$30,000 |
|
|
3.2% 3.25%-Online
|
12 |
$20,000 $500 |
|
|
3.2% |
15 |
$25,000 |
|
|
3.1%-Personal 3.2%- 3.3%-
|
12 |
$20,000
|
|
|
3.4%
|
12 |
$20,000 |
|
|
3.88%
|
24
|
$50,000 |
|
|
3.05%-OTC 3.1% PB gets 0.1% higher |
12 |
$25,000 |
|
|
3.2%
|
15 |
$20,000 |
*Click on the individual banks for the latest rates
Bank of China
BOC best rate is 3.4% for online transactions. The good thing about BOC is that you only need $5000 to enjoy the rates.
CIMB
CIMB allows multiple tenures from 6 months to 18 months. The best rate is 3.85 % for Personal Banking and 3.9% for Preferred Banking. This is the highest as of Nov 1.
citibank
Citibank only provides exclusive time deposit rates for Citigold and Citigold Private Clients. The rate is at 3.2% for 12 months.
DBS / POSB
Despite being the largest bank in Singapore, it has the lowest FD rates. Currently, the best rate is only 1.7% for 18 months.
HL Bank
HL Bank provides attractive rates. However, the minimum deposit starts from $100,000. To get the highest tier at 3.8%, you would need to place a minimum of $500,000
Hong Leong Finance
Hong Leong Finance offers different interest rates over 18 months for different tiers. It starts from 3.18% for $20,000 to 3.3% for $1,000,000 and above.
HSBC
HSBC offered periods of 4,7 and 12 months FD rates. The best rates will be for 12 months at 3.2%
ICBC
ICBC offers 3.25% via e-banking for deposits as low as $500. For OTC, the minimum would be at $20,000 with 3.2% over 1 year.
Maybank
The best interest rates for Maybank would be at 3.2% for 24 months.
OCBC
OCBC offers 3 different interest rates for their different market segment. The lowest is at 3.1% for 1 year under Personal Banking. The highest will be at 3.3% over 1 year for Premier Private Clients.
RHB
RHB gives 3.4% for 12 months and 24 months FD. You would need to make the placement via the RHB mobile SG App.
SINGAPURA FINANCE
Singapura Finance offers 3.55% placement for 24 months.
Standard Chartered Bank
SCB offers 3.1% for retail and 3.2% for Priority clients for placement online. The tenure will be for 12 months.
UOB
UOB best rate will be at 3.25 for 15 months. They also offer 10 and 12-month FD rates at 3% and 3.1%, respectively. The minimum amount starts from $20,000
Disclaimer
The information provided by TWD serves is for educational purposes. It is not meant to be personalised investment advice. Readers must do their due diligence and refer to financial advisors for their investment needs. The information is correct as of 1st Nov 2022.
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