Dbs Fixed Deposit Rate
2021年10月25日Register here: http://gg.gg/wb4p5
© Provided by MoneySmart
*When you invest in our fixed deposit, you earn interest at a fixed rate throughout the tenure. Digibank by DBS offers the below fixed deposit interest rates.: Rates w.e.f. 20 th February, 2021.
*Important Notice: From 21 May 20, interest rates for new placements and renewals in an SGD FD Account will be computed based on the total SGD FD balances, instead of each placement and/or renewal. Fixed deposit (sometimes called time deposit) accounts are low-risk investments that earn you interest over a fixed commitment period. You don’t need to do anything to earn this interest, just park your money with a bank. Think of it like mold on a piece of bread. Just leave it out in the open and mold will grow — FREE! — on your bread for you.
NRO Fixed Deposits Terms and Conditions. The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits prior to the date of its maturity. The interest on prematurely withdrawn Resident / NRO Term Deposits will be paid for the period that such deposit is held, at the rate.Seriously, though, fixed deposits are great if you have a substantial amount of money lying around and you don’t want to risk investing it. Fixed deposits are an extremely low risk way to grow your money.Best fixed deposit rates in Singapore (Feb 2021)We’ve picked the highest fixed deposit rates for SGD in attainable deposit amounts (i.e. $50,000 and below). Note that these promotional rates change monthly and the bank can change the rates anytime. Bank/financial institutionMin. deposit amountTenureInterest ratesDBS$1,000 18 months1.3% p.a. Maybank$1,00036 months1% p.a.Hong Leong Finance$20,00024 months0.75% p.a.ICBC$50012 months0.6% p.a.UOB$20,00010 months0.5% p.a.Standard Chartered$25,0003 months0.45% p.a.OCBC$20,00012 months0.4% p.a.RHB$20,00012 months0.4% p.a. CIMB$1,0003 months0.3% p.a.HSBC$30,0006 months0.25% p.a.Fixed deposit board rates are usually very low, but every month, many banks come up with fixed deposit promotions to offer good rates. In ’normal’, non-Covid-19 times, promotional fixed deposit rates can go up to 1.8% to 2% p.a. However, with the current sluggish economy, fixed deposit interest rates remain low — although they might still be better than savings accounts.DBS fixed deposit rates (Feb 2021)DBS fixed deposit rateInterest rate1.3% p.a.Deposit amount$1,000 to $19,999Tenure18 monthsEver since COVID-19 hit our economy, DBS has been one of the consistent winners when it comes to fixed deposit rates. This month is no exception. The current highest DBS fixed deposit rate of 1.3% p.a. is considered sky-high by today’s standards. The minimum of $1,000 is is quite a manageable amount, although you have to commit to a tenure of 18 months. Otherwise, you can still get a slightly lower interest rate of 1.15% p.a. for 12 months. Dbs Fixed Deposit Rate Jan 2021DBS is the best out there this month given the current economic climate and decreasing interest rates all around. It’s a good option if you want to save up and prefer local banks. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’18’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’dbs-singapore-dollar-fixed-deposit’ ] Maybank fixed deposit rates (Feb 2021)Maybank fixed deposit rateInterest rate1% p.a.Deposit amountMin. $1,000 Tenure36 months The next best alternative to DBS is usually a Maybank fixed deposit. In February, you can earn 1% p.a. with Maybank’s Singapore Dollar Time Deposit. Unfortunately you have to leave it in for 36 months (3 whole years!) to earn that measly 1% p.a. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’24’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’maybank-singapore-dollar-time-deposit’ ] Hong Leong Finance fixed deposit rates (Feb 2021)Hong Leong Finance fixed deposit rateInterest rate0.75% p.a.Deposit amountMin. $20,000 Tenure24 months Apart from the big banks like DBS, UOB and OCBC, the fixed deposit aficionado should also look at non-bank financial institutions like Hong Leong Finance as they also offer promotions. They may not be quite as risk-free as banks, though. This month, Hong Leong is offering 0.75% p.a. for 24 months, 0.68% for 18 months, or 0.6% for 12 months, but it also requires a significantly larger sum of $20,000. Before you lock up that much in a fixed deposit, make sure you have sufficient emergency funds first. ICBC fixed deposit rates (Feb 2021)ICBC fixed deposit rateInterest rate0.6% p.a.Deposit amountMin. $500 Tenure12 monthsIt used to be that you needed at least $20,000 lying around in order to benefit from the higher promotional interest rates. However, now that the general rates have gone down, suddenly the lower-commitment options are a lot more competitive. All the above fixed deposits have pretty low barriers to entry, but Chinese bank ICBC takes the cake by requiring just $500 minimum deposit. You get an okay-ish 0.6% p.a. (if you apply for this fixed deposit online) with a commitment period of 12 months. UOB fixed deposit rates (Feb 2021)UOB fixed deposit rateInterest rate0.5% p.a.Deposit amountMin. $20,000 Tenure10 months Oh dear, local banks UOB and OCBC (see below) certainly fall short of DBS when it comes to fixed deposit rates of late. Right now, UOB is offering only 0.5% p.a. on their 10-month fixed deposits. The saving grace is that the lock-in period is relatively short. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’11’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’uob-singapore-dollar-fixed-deposit’ ] Note that if you have an UOB fixed deposit that’s maturing this month, UOB will auto-renew your account at the current ’promotional’ rate. You might want to check and update your standing instructions. Standard Chartered fixed deposit rates (Feb 2021)Standard Chartered fixed deposit rateInterest rate0.45% p.a.Deposit amountMin. $25,000 Tenure3 months If you have $25,000 to spare, but don’t want to lock it up the whole year, Standard Chartered has a 3-month fixed deposit promotion that lets you earn 0.45% p.a. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’3’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’standard-chartered-singapore-dollar-time-deposit’ ] OCBC fixed deposit rates (Feb 2021)OCBC fixed deposit rateInterest rate0.4% p.a.Deposit amountMin. $20,000 Tenure12 monthsOCBC fixed deposit interest rates are lower than UOB’s, offering 0.4% p.a. for minimum $20,000 deposit for at least 12 months. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’24’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’ocbc-time-deposit-account’ ] RHB fixed deposit rates (Feb 2021)RHB fixed deposit rateInterest rate0.4% p.a.Deposit amountMin. $20,000 Tenure12 months Tying with OCBC for 7th place is Malaysian bank RHBDbs Fixed Deposit Rates History. Like OCBC, its 0.4% p.a. interest rate is really not spectacular, so think carefully before you commit for the full year. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’36’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’rhb-singapore-dollar-fixed-deposit’ ] What about HSBC and CIMB fixed deposits? The rest of the banks — CIMB and HSBC — are offering 0.3% or less on their fixed deposits, which is hardly worth your time. In fact, you can get 0.3% p.a. on your savings with no lock-in just by opening a regular CIMB FastSaver account. Of course, banks are notoriously fickle about their interest rates, and all these could easily change next month. For the latest promotional rates, remember to bookmark this page and our MoneySmart fixed deposit comparison page before you commit. Plus, here’s a quick and dirty summary of what you need to know about fixed deposits.Fixed deposit vs savings account — what’s the difference? https://youtu.be/Sq9hjlnEgY0 Once an attractive alternative to that pathetic 0.05% p.a. interest on savings accounts, fixed deposits — like so many ageing Channel 8 starlets — are fading from collective memory. Today, every bank in Singapore is competing for your dollar with high interest savings accounts, which may actually offer better returns. Here are the differences between fixed deposits and savings accounts at a glance: Fixed deposit Savings accountTenureAs low as 3 months, but go for at least 12 months for better ratesNoneInterest rateThe longer the tenure, the better the interest rateUsually the same regardless of tenureAmount to depositFixed amount, usually at least $10,000Smaller initial deposit and minimum monthly balance ($500 to $3,000)CurrencySGD by default, but some banks offer higher interest rates for foreign currencySGD by default. There are a few multi-currency accounts, but no difference in interest rateCan you withdraw?Contrary to popular belief, yes, but you lose the interestYes, no impact on interest, but don’t fall below the minimum balanceInterest paymentsQuarterly or annuallyMonthlyRisk levelVirtually risk-free, insured up to $75,000 by Singapore Deposit Insurance Corporation (SDIC)Fixed deposit vs Singapore Savings Bonds (SSB) — which is better?Dbs Fixed Deposit Promotion In an earlier article, we compared the Singapore Savings Bonds to fixed deposits. There are a few key distinctions between these virtually risk-free investment vehicles. First, interest rates. Believe it or not, fixed deposit interest rates are actually higher than SSBs. The November issue of SSBs offers a measly 0.23% p.a. interest average return after the first 2 years, which you can easily beat with a well-chosen fixed deposit promotion. Next, entry point. It takes just $500 to invest in Singapore Savings Bonds, which is lower than the $1,000 or more for most fixed deposits. That said, ICBC fixed deposits only require $500 to start. (On the flip side, there’s a cap of $200,000 you can put into Singapore Savings Bonds. There’s no cap for fixed deposits.) Finally, tenure. Fixed deposits are shorter term investments. After the lock-in period is over, you should shop around again for another place to park your money. With SSBs, however, the interest rate climbs every year, so the longer you keep the money in there (up to a maximum of 10 years) the more you get. At the same time, SSBs have higher liquidity than fixed deposits. You will not be penalised if you withdraw your money at any point. You do have to pay a $2 transaction fee each time you buy or redeem a bond, though. Know anyone who likes to park their cash in fixed deposits? Share this article with them. [ms_related_articles] The post 7 Best Fixed Deposit Rates in Singapore (Feb 2021) — DBS, Maybank & More appeared first on the MoneySmart blog.
MoneySmart.sg helps you maximize your money. Which nz bank has the best term deposit rates. Like us on Facebook to keep up to date with our latest news and articles.
Accounts
Place your funds with the bank with ’Asia’s safest bank’ awarded and enjoy higher returns
Enjoy enhanced yields, higher returns and improved liquidity with a DBS Fixed Deposit Account. Open an account and earn higher interest rates by placing your funds with us for a set period of time.
Why choose DBS Fixed Deposit Account?
*Ensure your funds are safe with an ’AA-’ and ’Aa1’rated bank. DBS has been named the Safest Bank in Asia by Global Finance for five consecutive years, from 2009 to 2013
*Increase your returns with competitive interest rates that are higher than a typical Business Account
*Choose from a flexible range of tenures
*Improve your liquidity via a wide range of global and Asian currencies: AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, NZD, SGD and USD
*Take advantage of our convenient cut-off times to make placements and withdrawals. You can also make early withdrawals if required
Product Features
Here are the available tenures for our account types for Fixed Deposits:AccountMinimum deposit amountTenureCurrenciesFixed Deposit (CNY)CNY 10,000Three and six monthsCNYOne, two, three and five yearsFixed Deposit (FX)No minimum requirementOne, three and six months
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
One year
Call Deposit (CNY)
CNY 500,000
One and Seven daysCNY
Call Deposit (FX)No minimum requirementSeven days
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.Corporate Plus Deposit (CNY)CNY 500,000No fixed tenureCNYDbs Fixed Deposit Rates SingaporeCan I withdraw my Fixed Deposit before its maturity date and will there be any penalty?
Yes, you may make early withdrawals. There will be no penalty fee incurred; however, early withdrawals may result in you receiving a significantly reduced rate of interest than originally agreed. As such, you should consider making an early withdrawal carefully.
Please call us at 4008208988 should you need more information.Can I place a Fixed Deposit without opening a Fixed Deposit Account?
You will need to open a Fixed Deposit Account to place a Fixed Deposit.What is the latest cut-off time to place a Fixed Deposit with DBS?Do I need to submit a new set of account opening documents to open a Fixed Deposit Account if I already have a DBS Business Account?
Yes, however you will not have to complete the full set of documents. Please call us at 4008208988 and we will arrange for a relationship manager to assist you with your application.Are there any set up fees for opening an account with DBS?
Star of Innovation in Payments – Global Banking Stars of China Awards2019
Best Bank for Cash Management, China2019Dbs Interest Rates Singapore
Best Service Provider – E-solutions Partner in China2019
Best Transaction Bank in Asia2019View All
How do I apply?
Simply call us at 400 820 8988 (or +86 400 820 8988 if you’re overseas) or visit any of our Branches. You may also email us and our Relationship Manager will contact you as soon as possible.
Disclaimer:
The information provided in this website is for general information only and nothing contained in this website constitutes an invitation, offer or solicitation with respect to the entry into transactions mentioned in this website or subscription, purchase or sale of any products, services, securities or other financial instruments mentioned in this website or the taking of any position or the adoption of trading strategy in respect of any asset class (eg. currency, interest rate, commodity, equity etc). The information provided in this website is not provided with regard to the specific investment objectives, financial situation and the particular needs of any particular person who accesses this website.
The information provided on this website is subject to change without notice, its accuracy is not guaranteed, and it may be incomplete or condensed. Accordingly, no representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information in this website. We are not acting as your advisor or agent when providing the information in this website. The information in this website does not purport to identify the risks (direct or indirect) or other material considerations which may be associated with you entering into a particular transaction, subscribing for a particular service or purchasing or selling a particular security or financial instrument. Prior to entering into any proposed transaction or entering into any subscription, purchase or sale of any security or financial instrument, you should determine (after consultation with your own advisors if you deem fit), without reliance upon us or our affiliates, the economic risks and merits, as well as the legal, tax, accounting or other material characterisations and consequences of the transaction, subscription, purchase or sale, as the case may be, and that you are able to assume these risks.
We, and/or our affiliates, may hold, or trade, or act as market-maker, in any securities or other financial instruments mentioned in this website or related derivatives or may take positions or use trading strategies in respect of any asset class similar to or which differ from or be contrary to those mentioned in this website. We, and/or our affiliates conduct many businesses and activities that may relate to issuers of third party securities mentioned in this website and may provide broking, banking and other financial services to such issuers.
Anyone receiving or accessing this website must make their own assessment of the materials herein and conduct such investigations and seek such professional advice as they think fit for such purpose. The information provided on this site should not be regarded by recipients as a substitute for the exercise of their own judgment.
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Register here: http://gg.gg/wb4p5
https://diarynote-jp.indered.space
© Provided by MoneySmart
*When you invest in our fixed deposit, you earn interest at a fixed rate throughout the tenure. Digibank by DBS offers the below fixed deposit interest rates.: Rates w.e.f. 20 th February, 2021.
*Important Notice: From 21 May 20, interest rates for new placements and renewals in an SGD FD Account will be computed based on the total SGD FD balances, instead of each placement and/or renewal. Fixed deposit (sometimes called time deposit) accounts are low-risk investments that earn you interest over a fixed commitment period. You don’t need to do anything to earn this interest, just park your money with a bank. Think of it like mold on a piece of bread. Just leave it out in the open and mold will grow — FREE! — on your bread for you.
NRO Fixed Deposits Terms and Conditions. The Bank shall, on written request from all depositors, allow withdrawal of a Resident / NRO Term deposits prior to the date of its maturity. The interest on prematurely withdrawn Resident / NRO Term Deposits will be paid for the period that such deposit is held, at the rate.Seriously, though, fixed deposits are great if you have a substantial amount of money lying around and you don’t want to risk investing it. Fixed deposits are an extremely low risk way to grow your money.Best fixed deposit rates in Singapore (Feb 2021)We’ve picked the highest fixed deposit rates for SGD in attainable deposit amounts (i.e. $50,000 and below). Note that these promotional rates change monthly and the bank can change the rates anytime. Bank/financial institutionMin. deposit amountTenureInterest ratesDBS$1,000 18 months1.3% p.a. Maybank$1,00036 months1% p.a.Hong Leong Finance$20,00024 months0.75% p.a.ICBC$50012 months0.6% p.a.UOB$20,00010 months0.5% p.a.Standard Chartered$25,0003 months0.45% p.a.OCBC$20,00012 months0.4% p.a.RHB$20,00012 months0.4% p.a. CIMB$1,0003 months0.3% p.a.HSBC$30,0006 months0.25% p.a.Fixed deposit board rates are usually very low, but every month, many banks come up with fixed deposit promotions to offer good rates. In ’normal’, non-Covid-19 times, promotional fixed deposit rates can go up to 1.8% to 2% p.a. However, with the current sluggish economy, fixed deposit interest rates remain low — although they might still be better than savings accounts.DBS fixed deposit rates (Feb 2021)DBS fixed deposit rateInterest rate1.3% p.a.Deposit amount$1,000 to $19,999Tenure18 monthsEver since COVID-19 hit our economy, DBS has been one of the consistent winners when it comes to fixed deposit rates. This month is no exception. The current highest DBS fixed deposit rate of 1.3% p.a. is considered sky-high by today’s standards. The minimum of $1,000 is is quite a manageable amount, although you have to commit to a tenure of 18 months. Otherwise, you can still get a slightly lower interest rate of 1.15% p.a. for 12 months. Dbs Fixed Deposit Rate Jan 2021DBS is the best out there this month given the current economic climate and decreasing interest rates all around. It’s a good option if you want to save up and prefer local banks. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’18’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’dbs-singapore-dollar-fixed-deposit’ ] Maybank fixed deposit rates (Feb 2021)Maybank fixed deposit rateInterest rate1% p.a.Deposit amountMin. $1,000 Tenure36 months The next best alternative to DBS is usually a Maybank fixed deposit. In February, you can earn 1% p.a. with Maybank’s Singapore Dollar Time Deposit. Unfortunately you have to leave it in for 36 months (3 whole years!) to earn that measly 1% p.a. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’24’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’maybank-singapore-dollar-time-deposit’ ] Hong Leong Finance fixed deposit rates (Feb 2021)Hong Leong Finance fixed deposit rateInterest rate0.75% p.a.Deposit amountMin. $20,000 Tenure24 months Apart from the big banks like DBS, UOB and OCBC, the fixed deposit aficionado should also look at non-bank financial institutions like Hong Leong Finance as they also offer promotions. They may not be quite as risk-free as banks, though. This month, Hong Leong is offering 0.75% p.a. for 24 months, 0.68% for 18 months, or 0.6% for 12 months, but it also requires a significantly larger sum of $20,000. Before you lock up that much in a fixed deposit, make sure you have sufficient emergency funds first. ICBC fixed deposit rates (Feb 2021)ICBC fixed deposit rateInterest rate0.6% p.a.Deposit amountMin. $500 Tenure12 monthsIt used to be that you needed at least $20,000 lying around in order to benefit from the higher promotional interest rates. However, now that the general rates have gone down, suddenly the lower-commitment options are a lot more competitive. All the above fixed deposits have pretty low barriers to entry, but Chinese bank ICBC takes the cake by requiring just $500 minimum deposit. You get an okay-ish 0.6% p.a. (if you apply for this fixed deposit online) with a commitment period of 12 months. UOB fixed deposit rates (Feb 2021)UOB fixed deposit rateInterest rate0.5% p.a.Deposit amountMin. $20,000 Tenure10 months Oh dear, local banks UOB and OCBC (see below) certainly fall short of DBS when it comes to fixed deposit rates of late. Right now, UOB is offering only 0.5% p.a. on their 10-month fixed deposits. The saving grace is that the lock-in period is relatively short. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’11’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’uob-singapore-dollar-fixed-deposit’ ] Note that if you have an UOB fixed deposit that’s maturing this month, UOB will auto-renew your account at the current ’promotional’ rate. You might want to check and update your standing instructions. Standard Chartered fixed deposit rates (Feb 2021)Standard Chartered fixed deposit rateInterest rate0.45% p.a.Deposit amountMin. $25,000 Tenure3 months If you have $25,000 to spare, but don’t want to lock it up the whole year, Standard Chartered has a 3-month fixed deposit promotion that lets you earn 0.45% p.a. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’3’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’standard-chartered-singapore-dollar-time-deposit’ ] OCBC fixed deposit rates (Feb 2021)OCBC fixed deposit rateInterest rate0.4% p.a.Deposit amountMin. $20,000 Tenure12 monthsOCBC fixed deposit interest rates are lower than UOB’s, offering 0.4% p.a. for minimum $20,000 deposit for at least 12 months. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’24’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’ocbc-time-deposit-account’ ] RHB fixed deposit rates (Feb 2021)RHB fixed deposit rateInterest rate0.4% p.a.Deposit amountMin. $20,000 Tenure12 months Tying with OCBC for 7th place is Malaysian bank RHBDbs Fixed Deposit Rates History. Like OCBC, its 0.4% p.a. interest rate is really not spectacular, so think carefully before you commit for the full year. [ms-inline-widget account_type=’fixed-deposit’ amount=’10000’ tenure=’36’ locale=’en’ country_code=’sg’ channel=’fixed-deposit’ product_slug=’rhb-singapore-dollar-fixed-deposit’ ] What about HSBC and CIMB fixed deposits? The rest of the banks — CIMB and HSBC — are offering 0.3% or less on their fixed deposits, which is hardly worth your time. In fact, you can get 0.3% p.a. on your savings with no lock-in just by opening a regular CIMB FastSaver account. Of course, banks are notoriously fickle about their interest rates, and all these could easily change next month. For the latest promotional rates, remember to bookmark this page and our MoneySmart fixed deposit comparison page before you commit. Plus, here’s a quick and dirty summary of what you need to know about fixed deposits.Fixed deposit vs savings account — what’s the difference? https://youtu.be/Sq9hjlnEgY0 Once an attractive alternative to that pathetic 0.05% p.a. interest on savings accounts, fixed deposits — like so many ageing Channel 8 starlets — are fading from collective memory. Today, every bank in Singapore is competing for your dollar with high interest savings accounts, which may actually offer better returns. Here are the differences between fixed deposits and savings accounts at a glance: Fixed deposit Savings accountTenureAs low as 3 months, but go for at least 12 months for better ratesNoneInterest rateThe longer the tenure, the better the interest rateUsually the same regardless of tenureAmount to depositFixed amount, usually at least $10,000Smaller initial deposit and minimum monthly balance ($500 to $3,000)CurrencySGD by default, but some banks offer higher interest rates for foreign currencySGD by default. There are a few multi-currency accounts, but no difference in interest rateCan you withdraw?Contrary to popular belief, yes, but you lose the interestYes, no impact on interest, but don’t fall below the minimum balanceInterest paymentsQuarterly or annuallyMonthlyRisk levelVirtually risk-free, insured up to $75,000 by Singapore Deposit Insurance Corporation (SDIC)Fixed deposit vs Singapore Savings Bonds (SSB) — which is better?Dbs Fixed Deposit Promotion In an earlier article, we compared the Singapore Savings Bonds to fixed deposits. There are a few key distinctions between these virtually risk-free investment vehicles. First, interest rates. Believe it or not, fixed deposit interest rates are actually higher than SSBs. The November issue of SSBs offers a measly 0.23% p.a. interest average return after the first 2 years, which you can easily beat with a well-chosen fixed deposit promotion. Next, entry point. It takes just $500 to invest in Singapore Savings Bonds, which is lower than the $1,000 or more for most fixed deposits. That said, ICBC fixed deposits only require $500 to start. (On the flip side, there’s a cap of $200,000 you can put into Singapore Savings Bonds. There’s no cap for fixed deposits.) Finally, tenure. Fixed deposits are shorter term investments. After the lock-in period is over, you should shop around again for another place to park your money. With SSBs, however, the interest rate climbs every year, so the longer you keep the money in there (up to a maximum of 10 years) the more you get. At the same time, SSBs have higher liquidity than fixed deposits. You will not be penalised if you withdraw your money at any point. You do have to pay a $2 transaction fee each time you buy or redeem a bond, though. Know anyone who likes to park their cash in fixed deposits? Share this article with them. [ms_related_articles] The post 7 Best Fixed Deposit Rates in Singapore (Feb 2021) — DBS, Maybank & More appeared first on the MoneySmart blog.
MoneySmart.sg helps you maximize your money. Which nz bank has the best term deposit rates. Like us on Facebook to keep up to date with our latest news and articles.
Accounts
Place your funds with the bank with ’Asia’s safest bank’ awarded and enjoy higher returns
Enjoy enhanced yields, higher returns and improved liquidity with a DBS Fixed Deposit Account. Open an account and earn higher interest rates by placing your funds with us for a set period of time.
Why choose DBS Fixed Deposit Account?
*Ensure your funds are safe with an ’AA-’ and ’Aa1’rated bank. DBS has been named the Safest Bank in Asia by Global Finance for five consecutive years, from 2009 to 2013
*Increase your returns with competitive interest rates that are higher than a typical Business Account
*Choose from a flexible range of tenures
*Improve your liquidity via a wide range of global and Asian currencies: AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, NZD, SGD and USD
*Take advantage of our convenient cut-off times to make placements and withdrawals. You can also make early withdrawals if required
Product Features
Here are the available tenures for our account types for Fixed Deposits:AccountMinimum deposit amountTenureCurrenciesFixed Deposit (CNY)CNY 10,000Three and six monthsCNYOne, two, three and five yearsFixed Deposit (FX)No minimum requirementOne, three and six months
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
One year
Call Deposit (CNY)
CNY 500,000
One and Seven daysCNY
Call Deposit (FX)No minimum requirementSeven days
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.Corporate Plus Deposit (CNY)CNY 500,000No fixed tenureCNYDbs Fixed Deposit Rates SingaporeCan I withdraw my Fixed Deposit before its maturity date and will there be any penalty?
Yes, you may make early withdrawals. There will be no penalty fee incurred; however, early withdrawals may result in you receiving a significantly reduced rate of interest than originally agreed. As such, you should consider making an early withdrawal carefully.
Please call us at 4008208988 should you need more information.Can I place a Fixed Deposit without opening a Fixed Deposit Account?
You will need to open a Fixed Deposit Account to place a Fixed Deposit.What is the latest cut-off time to place a Fixed Deposit with DBS?Do I need to submit a new set of account opening documents to open a Fixed Deposit Account if I already have a DBS Business Account?
Yes, however you will not have to complete the full set of documents. Please call us at 4008208988 and we will arrange for a relationship manager to assist you with your application.Are there any set up fees for opening an account with DBS?
Star of Innovation in Payments – Global Banking Stars of China Awards2019
Best Bank for Cash Management, China2019Dbs Interest Rates Singapore
Best Service Provider – E-solutions Partner in China2019
Best Transaction Bank in Asia2019View All
How do I apply?
Simply call us at 400 820 8988 (or +86 400 820 8988 if you’re overseas) or visit any of our Branches. You may also email us and our Relationship Manager will contact you as soon as possible.
Disclaimer:
The information provided in this website is for general information only and nothing contained in this website constitutes an invitation, offer or solicitation with respect to the entry into transactions mentioned in this website or subscription, purchase or sale of any products, services, securities or other financial instruments mentioned in this website or the taking of any position or the adoption of trading strategy in respect of any asset class (eg. currency, interest rate, commodity, equity etc). The information provided in this website is not provided with regard to the specific investment objectives, financial situation and the particular needs of any particular person who accesses this website.
The information provided on this website is subject to change without notice, its accuracy is not guaranteed, and it may be incomplete or condensed. Accordingly, no representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information in this website. We are not acting as your advisor or agent when providing the information in this website. The information in this website does not purport to identify the risks (direct or indirect) or other material considerations which may be associated with you entering into a particular transaction, subscribing for a particular service or purchasing or selling a particular security or financial instrument. Prior to entering into any proposed transaction or entering into any subscription, purchase or sale of any security or financial instrument, you should determine (after consultation with your own advisors if you deem fit), without reliance upon us or our affiliates, the economic risks and merits, as well as the legal, tax, accounting or other material characterisations and consequences of the transaction, subscription, purchase or sale, as the case may be, and that you are able to assume these risks.
We, and/or our affiliates, may hold, or trade, or act as market-maker, in any securities or other financial instruments mentioned in this website or related derivatives or may take positions or use trading strategies in respect of any asset class similar to or which differ from or be contrary to those mentioned in this website. We, and/or our affiliates conduct many businesses and activities that may relate to issuers of third party securities mentioned in this website and may provide broking, banking and other financial services to such issuers.
Anyone receiving or accessing this website must make their own assessment of the materials herein and conduct such investigations and seek such professional advice as they think fit for such purpose. The information provided on this site should not be regarded by recipients as a substitute for the exercise of their own judgment.
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