Best fixed deposit rates in Singapore for July 2024

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Personal Finance |
5 m read

Best fixed deposit rates in Singapore for July 2024

Mary Alavanza
Mary Alavanza
|

SINGAPORE: If you're looking for banks offering fixed deposit rates worth considering this July, these are the best fixed deposit rates in Singapore, according to MoneySmart.

July 2024 Highest Fixed Deposit Rates



  •  Syfe Cash+ Guaranteed

    • Interest Rate: 3.80% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum



  •  StashAway Simple Guaranteed

    • Interest Rate: 3.70% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum



  • State Bank of India

    • Interest Rate: 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000



  • ICBC

    • Interest Rate: 3.40% p.a. (via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • Bank of China

    • Interest Rate: 3.50% p.a. (via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • CIMB

    • Interest Rate: 3.35 - 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000



  • RHB

    • Interest Rate: 3.25 - 3.30% p.a.

    • Commitment Period: 3 months or 6 months or 12 months

    • Minimum Amount: S$20,000



  • HSBC

    • Interest Rate: 3.25% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000




July 2024 Best fixed deposit rates by commitment period


3-Month commitment period:



  •  Syfe Cash+ Guaranteed

    • Interest Rate: 3.80% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum



  •  StashAway Simple Guaranteed

    • Interest Rate: 3.70% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: No minimum



  • ICBC

    • Interest Rate: 3.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • Bank of China

    • Interest Rate: 3.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • CIMB

    • Interest Rate: 3.25 - 3.30% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$10,000



  • HSBC

    • Interest Rate: 3.20% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$30,000



  • Hong Leong Finance

    • Interest Rate: 2.90% p.a.

    • Commitment Period: 6 months or 7 months

    • Minimum Amount: S$50,000



  • Citibank

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 3 months

    • Minimum Amount: S$50,000




6-Month commitment period:



  • Syfe Cash+ Guaranteed

    • Interest Rate: 3.60% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum



  • StashAway Simple Guaranteed

    • Interest Rate: 3.50% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: No minimum



  • Bank of China

    • Interest Rate: 3.30% p.a.(via mobile banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$500



  • ICBC

    • Interest Rate: 3.15% p.a.(via e-banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$500



  • CIMB

    • Interest Rate: 3.35 - 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000



  • RHB

    • Interest Rate: 3.25 - 3.30% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$20,000



  • Standard Chartered

    • Interest Rate: 2.90 - 3.10% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$25,000



  • OCBC

    • Interest Rate: 2.60% p.a.(internet banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000



  • State Bank of India

    • Interest Rate: 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000




12-Month commitment period:



  • Syfe Cash+ Guaranteed

    • Interest Rate: 3.50% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum



  • StashAway Simple Guaranteed

    • Interest Rate: 3.30% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: No minimum



  • Bank of China

    • Interest Rate: 3.05% p.a.(via mobile banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$500



  • ICBC

    • Interest Rate: 3.05% p.a.(via e-banking)

    • Commitment Period: 12 months

    • Minimum Amount: S$500



  • CIMB

    • Interest Rate: 2.95 - 3.00% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$10,000



  • RHB

    • Interest Rate: 3.25 - 3.30% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000



  • Maybank

    • Interest Rate: 2.60% p.a.(online placement)

    • Commitment Period: 12 months

    • Minimum Amount: S$20,000



  • OCBC

    • Interest Rate: 2.90% p.a.(internet banking)

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000



  • State Bank of India

    • Interest Rate: 3.20% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$50,000




July 2024 Best fixed deposit rates by minimum deposit


Deposits $10,000 and under:



  • CIMB

    • Interest Rate: 3.35 - 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000



  • Bank of China

    • Interest Rate: 3.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • ICBC

    • Interest Rate: 3.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • DBS

    • Interest Rate: 3.20% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000



  • UOB

    • Interest Rate: 2.70% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000




Deposits $20,000–$49,999:



  • CIMB

    • Interest Rate: 3.35 - 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000



  • Bank of China

    • Interest Rate: 3.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • ICBC

    • Interest Rate: 3.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • RHB

    • Interest Rate: 3.25 - 3.30% p.a.

    • Commitment Period: 3 months or 6 months or 12 months

    • Minimum Amount: S$20,000



  • Standard Chartered

    • Interest Rate: 2.90 - 3.10% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$25,000



  • OCBC

    • Interest Rate: 2.90% p.a.(internet banking)

    • Commitment Period: 6 months or 12 months

    • Minimum Amount: S$30,000




Deposits $50,000 and above:



  • State Bank of India

    • Interest Rate: 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$50,000



  • CIMB

    • Interest Rate: 3.35 - 3.40% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$10,000



  • Citibank

    • Interest Rate: 2.50% p.a.

    • Commitment Period: 3 months or 6 months

    • Minimum Amount: S$50,000



  • HSBC

    • Interest Rate: 3.25% p.a.

    • Commitment Period: 6 months

    • Minimum Amount: S$30,000



  • Bank of China

    • Interest Rate: 3.50% p.a.(via mobile banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • ICBC

    • Interest Rate: 3.40% p.a.(via e-banking)

    • Commitment Period: 3 months

    • Minimum Amount: S$500



  • RHB

    • Interest Rate: 3.25 - 3.30% p.a.

    • Commitment Period: 3 months or 6 months or 12 months

    • Minimum Amount: S$20,000



  • DBS

    • Interest Rate: 3.20% p.a.

    • Commitment Period: 12 months

    • Minimum Amount: S$1,000



  • Hong Leong Finance

    • Interest Rate: 2.90% p.a.

    • Commitment Period: 6 months or 7 months

    • Minimum Amount: S$50,000




Maximise your savings this month!

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Disclaimer: Rates are promotional and subject to change. For the current rates, visit the respective bank websites /TISG

Read also: Best fixed deposit rates in Singapore for June 2024

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