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High Fixed Deposit Banks in Singapore – Rates

Singapore has many banks. They provide different types of services and products. Fixed deposit is one of them. The basic idea can be understood from the name itself. The customers should invest their money for particular time period. Bank authorities use this time period and manipulate the money. They re-invest the money in other ways and earn more money. The most important thing is time here.

Since the customers deposit their amount for a fixed period, it is called Fixed Deposits. The minimum investment required to start a deposit account is S$1000. Customers get high rate of interest. It is similar to the Certificate of Deposits. List of banks in Singapore is mentioned below here.

List of Banks:

  • DBS – Great World City Branch, Great World City, Singapore.
  • UOB – Admiralty Branch, 70 Woodlands Avenue, Admiralty MRT Station, Singapore.
  • Maybank – Marine Parade Central, Singapore.
  • HSBC – Tanglin, 6 Claymore Hill, #01-01 Claymore Plaza, Singapore.
  • Citibank -Cuscaden Road Branch, HPL House 50 Cuscaden Road #02-02, Singapore.

The deposit rate depends upon various factors. The key factors are amount and time duration. Rates of different banks are listed below here.

List of Fixed Deposit Rates:

  • In Citibank, the interest is 0.35% for amount up to S$50,000.
  • In DBS and UOB, the interest is 0.45% for amount up to S$50,000.
  • In HSBC, the rate is 0.48% for amount up to S$50,000.
  • In Maybank, the rate of interest is 0.75% for amount up to S$50,000.