With SORA continuing its downward trend, fixed deposit rates across Singapore have softened—but there are still a few attractive picks if you’re seeking steady returns.
DBS offers one of the most competitive rates right now at 2.45% p.a. for 12 months, with a minimum deposit of just $1,000. For shorter terms, Bank of China offers 2.20% p.a. for 6 months with as little as $500 needed via mobile placement. If you’re depositing larger sums, HL Bank and State Bank of India offer 2.35% p.a. for 6 months, though they require $100,000 and $50,000 respectively.
On the flexible side, MariBank’s savings account provides 2.28% p.a. without any lock-in period, minimum balance, or hoops—great for liquidity. Meanwhile, StashAway Simple Guaranteed and Syfe Cash+ Guaranteed both offer 2.15% p.a. for 3-month tenures with no minimum deposit, backed by MAS-regulated fixed deposits.
For those comfortable exploring “invest-style” cash management platforms, you’ll find returns ranging from 2.00% to 2.20%, but do watch out for early redemption penalties or varying levels of capital protection.
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