Top Fixed Deposit Rates in Singapore 2026

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Fixed deposits refer to a low-risk way for you to park your money and grow it through interest paid to you by the bank. As such, it is one of the safest ways available for risk-averse individuals to grow their wealth. In addition, leaving money in a bank to earn fixed deposit interest rates is also one of the best ways to keep yourself safe during economic downturns.

What is the Fixed Deposit Rate in Singapore?

The Fixed Deposit Rate, often referred to simply as the “fixed deposit interest rate” or “FD rate,” is a predetermined interest rate offered by banks and financial institutions to depositors who choose to lock in their funds for a specified period, often featuring competitive interest rates to attract depositors.

In the Singapore market, fixed deposits are a popular investment option for individuals seeking stable and predictable returns. The fixed deposit rate varies across different banks and financial institutions, depending on factors such as the tenure of the deposit, the amount deposited, and the current market conditions.

The Monetary Authority of Singapore (MAS) states that deposit-taking institutions in Singapore consist of full banks, wholesale banks, merchant banks, and finance companies.

Comparison of Bank Fixed Deposit Rates in Singapore [Jan. 2026]

In 2026, several banks and financial institutions in Singapore are offering competitive fixed deposit rates to attract depositors. Some of these rates are part of promotional fixed deposit rates.

Here are the latest fixed deposit rates in Singapore for 2026:

*Source from: StashAway

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Bank of China Fixed Deposit Rates

For investors seeking a secure and predictable way to grow their savings, the Bank of China's fixed deposit rates offer an attractive solution. The process of fixed deposit placement can be easily completed through their online banking platform, ensuring a smooth and secure transaction. With a reputation for stability and reliability, Bank of China provides a range of fixed deposit options that cater to different investment needs and risk appetites.

Bank of China Fixed Deposits Features

Source from: Bank of China

Citibank Fixed Deposit Rates

Citibank, a globally recognized financial institution, offers a range of fixed deposit options with competitive rates that cater to the diverse needs of investors. Citibank's fixed deposit rates are designed to provide investors with a secure and reliable way to grow their savings.

Source from: Citibank Website

CIMB Fixed Deposit Rates

CIMB Bank is a leading financial institution in ASEAN, offering a comprehensive range of banking and financial services. When considering CIMB’s fixed deposit rates, it is important to note the maturity date, as it determines when you can withdraw your funds without penalties.

- CIMB (personal)：

*Source from: CIMB Website (personal)

- CIMB (preferred):

*Source from: CIMB FD Rates (preferred)

DBS/POSB Fixed Deposit Rates

DBS Bank and its subsidiary POSB (Post Office Savings Bank) are household names in Singapore, renowned for their reliability and extensive banking services. It is important to be aware that interest rates can change without prior notice, so it’s advisable to check the latest rates before making a deposit.

S$ Fixed Deposits Rates (For New Placements)

*Source from: DBS FD Rates

Hong Leong Fixed Deposit Rates

Hong Leong Finance is a global banking giant with a strong presence in Singapore.

Special Fixed Deposit Promotion: Interest Rates (% per annum)

*Source from: Hong Leong Finance FD Rates

HSBC Fixed Deposit Rates

For Premier and Premier Elite customers with wealth holdings：

For Premier and Premier Elite FX Engaged customers:

*Source from: HSBC FD Rates

ICBC Fixed Deposit Rates [Jan. 2026]

The Industrial and Commercial Bank of China (ICBC) is a global financial institution with a strong presence in Singapore and around the world. It offers an SGD Fixed Deposit with promotional interest rates. The minimum deposit amount for over-the-counter transactions is SGD20,000, while for e-banking transactions, it is SGD500.

1. SGD E-banking Fixed Deposit Promotion

2. USD Fixed Deposit Promotion

Source from: ICBC Website

Maybank Fixed Deposit Rates

Maybank is a leading financial services provider in ASEAN, offering a wide array of banking products and services that cater to the diverse needs of its customers. Deposits with Maybank are protected by the Singapore Deposit Insurance Corporation, which insures deposits up to S$100,000 per depositor. Currently, it has the Maybank Deposit Bundle Promotion. This promotion requires a minimum placement of S$20,000 in a Singapore Dollar Time Deposit.

Deposits Bundle Promotion:

Standalone Time Deposit and Term Deposit-i (at branches and online)

Source from: Maybank Website

OCBC Fixed Deposit Rates

OCBC Bank is a leading financial institution in Singapore, known for its innovative banking solutions and strong customer focus. Funds under the CPF Retirement Sum Scheme are insured up to S$100,000 per depositor, providing additional security for your investments.

Time Deposit (Fixed Deposit) Rates

Source from: OCBC FD Rates

RHB Fixed Deposit Rates

RHB Bank is a dynamic and forward-thinking financial institution that offers a wide range of banking and financial services in Singapore and beyond. In addition to fixed deposits, RHB also offers cash management accounts, which provide flexible investment options with the potential for higher returns.

Promotional Rates (Personal):

Source from: RHB FD rates (personal)

UOB Fixed Deposit Rates

UOB (United Overseas Bank) is a prominent bank in Singapore, recognized for its stability, innovation, and customer-centric approach. They offer a variety of fixed deposit accounts, each designed to meet different investment needs and preferences.

UOB Singapore Dollar Time/Fixed Deposit Promotion:

Source from: UOB Website

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Key Aspects of Fixed Deposits: Basics, Types, Factors

Understanding Fixed Deposits

Fixed deposits are a type of savings account that offers a fixed interest rate for a specific period of time, also known as time deposits. When you open a fixed deposit account, you deposit a lump sum of money for a predetermined period, and in return, you earn a fixed interest rate. This interest rate is typically higher than what you would receive from a regular savings account, and the interest is compounded over time, enhancing your returns.

Fixed deposits are considered a low-risk investment option, making them suitable for individuals who want to save money for a specific goal or those looking to earn a fixed return on their investment. They are also an excellent choice for diversifying an investment portfolio, providing a stable and predictable income stream. By locking in your funds for a set period, you can benefit from the security and reliability that fixed deposits offer.

Types of Fixed Deposits

In Singapore, there are several types of fixed deposits available, each catering to different investment needs and preferences:

Standard Fixed Deposits: These are the most common type of fixed deposit, offering a fixed interest rate for a specific period. They are straightforward and ideal for those seeking a simple, secure investment.

Foreign Currency Fixed Deposits: These fixed deposits are denominated in foreign currencies, such as the US dollar or the euro. They can be an attractive option for investors looking to diversify their currency exposure and potentially benefit from favorable exchange rate movements.

Dual Currency Investments: These investments allow you to deposit money in one currency and earn interest in another currency. They offer the potential for higher returns but come with additional currency risk, making them suitable for more experienced investors.

Structured Deposits: These fixed deposits offer a fixed interest rate but also provide the potential for higher returns if certain market conditions are met. They combine the security of fixed deposits with the opportunity for enhanced returns, depending on the performance of underlying assets or indices.

Factors Affecting Fixed Deposit Rates

Several factors influence the interest rates offered on fixed deposits, including:

Interest Rates: The interest rate set by the bank is the most critical factor affecting fixed deposit rates. Banks adjust their rates based on the prevailing interest rate environment, which is influenced by central bank policies and market conditions.

Inflation: Inflation impacts the purchasing power of your money and can influence the interest rates offered by banks. Higher inflation typically leads to higher interest rates as banks aim to compensate for the reduced value of money over time.

Economic Conditions: The overall state of the economy plays a significant role in determining fixed deposit rates. During periods of economic growth, interest rates may rise, while during economic downturns, rates may fall to encourage spending and investment.

Bank's Credit Rating: A bank's credit rating reflects its financial stability and ability to meet its obligations. Banks with higher credit ratings may offer lower interest rates on fixed deposits due to their perceived lower risk, while those with lower ratings may offer higher rates to attract depositors.

Market Conditions: The level of competition among banks and the demand for deposits can also affect fixed deposit rates. In a highly competitive market, banks may offer higher rates to attract more customers, while in a less competitive environment, rates may be lower.

Which Banks Have Fixed Deposit Rates in Singapore?

Fixed deposit rates are available at nearly all major banks in Singapore. ICBC, RHB, Bank of China, Maybank, HSBC Hong Leong Finance, CIMB, UOB, OCBC, Standard Chartered, DBS, and Citibank offer fixed deposit rates, each with different tenures and minimum qualifying amounts. Check 2023 latest fixed deposit rates in Singapore  (update on 05/07/2023).

Most of these fixed deposit rates come with promotional interest rates that require your money to be fresh funds, where fresh funds are defined as funds that are not already sitting in your existing bank account. You will also not be able to withdraw and re-deposit the funds within a specified time period.

What are T-Bills in Singapore? How Does It Work?

T-bills are largely similar to fixed deposit rates, whereby they are short-term debt securities issued and backed by the Singapore Government. They have maturities of one year or less and are one of the safer ways to grow your wealth steadily. T-bills have become popular as Singapore’s six-month T-bill offered yields of 4.19% per annum[1] which is the highest rate offered over the past three decades.[2]

An illustration of interest rate growth of T-Bills, retrieved from https://www.mas.gov.sg

However, due to the oversubscription of T-bills, you may not get to park as much money as you wanted to.

Why Are Fixed Deposit and T-Bill Interest Rates at All-Time-Highs?

When inflation levels rise, interest rates offered typically rise as a countermeasure. This is because increased interest rates encouraged saving and reduced spending, which helps to ease demand-side growth, and curbs inflation. Given that inflation hit record levels in September,[3] it is understandable that the banks and the government are deploying a concerted effort to combat inflation, which is evident in the all-time-high interest rates seen in fixed deposits and T-bills today.

Considerations on Fixed Deposit Rates

While interest rates are lucrative now, you will still have to consider the potential drawbacks of fixed deposits. By parking your money in fixed deposits, you are giving up liquidity which can incur opportunity costs whereby you will not be able to use that sum of money for other investments. Premature withdrawals will often come with penalties such as receiving decreased interest rate payments or receiving no interest at all.

All in all, fixed deposits and T-bills are low-risk avenues for generating guaranteed returns if you have extra liquidity to spare and are exceptional financial products, especially amid high inflation. We have also introduced other investment options like Singapore Savings Bonds (SSB) and Treasury Bills (T-Bills).

Conclusion

In conclusion, choosing the right fixed deposit rate in Singapore for 2026 requires a careful consideration of various factors, including interest rates, tenures, minimum deposit amounts, and the reputation of the financial institution. Throughout this guide, we have explored different fixed deposit rates offered by leading banks such as Bank of China, Citibank, CIMB, DBS/POSB, HSBC, ICBC, Maybank, OCBC, RHB, and UOB.

Remember, a wise investment today can pave the way for a secure and prosperous future. So, take the time to evaluate your options, choose wisely, and start growing your savings with the best fixed deposit rate in Singapore for 2026.

1.https://www.channelnewsasia.com/singapore/treasury-t-bills-government-securities-bonds-sgs-investments-low-risk-2948356

2.https://www.mas.gov.sg/bonds-and-bills/treasury-bills-statistics

3.https://tradingeconomics.com/singapore/inflation-cpi#:~:text=Inflation%20Rate%20in%20Singapore%20averaged,percent%20in%20September%20of%201976.

4.https://www.dbs.com.sg/personal/rates-online/singapore-dollar-fixed-deposits.page

5.https://www.icbc.com.cn/ICBC/%E6%B5%B7%E5%A4%96%E5%88%86%E8%A1%8C/%E6%96%B0%E5%8A%A0%E5%9D%A1%E7%BD%91%E7%AB%99/en/CommercialBankBusiness/PersonalBanking/Deposits/FixedDeposit/

6.https://www.bankofchina.com/sg/bocinfo/bi3/bi31/202210/t20221017_21931324.html

7.https://rhbgroup.com.sg/rhb/personal/fixed-deposit-campaign