The downside to a fixed deposit is that you will have to pay a penalty fee if you want withdraw your money early. Typically, you will lock in a sum of money (usually a minimum of $10,000) and the bank will pay you interest after a fixed period. Let’s start by talking a little more about fixed deposits.įixed deposits earn you a guaranteed amount of interest for the money you put in over a specific period of time. (it’s free to read on so why not!) The best fixed deposit rate in Singapore (January 2024) I will share with you my strategy and thoughts.

If you are struggling to choose where to park your money, then you should continue to read on. The Telegram community has shown keen interest in a few instruments instruments – fixed deposit accounts, regular deposit accounts, T-Bill and Singapore Savings Bond (SSB).

The best 6-month fixed deposit rate we found was 3.65% p.a., which is below the cut-off yield of the latest 6-month T-bill auction.

The best 3-month fixed deposit rate we found was 3.60% p.a.

The best 12-month fixed deposit rate we found was 3.30% p.a.

For example, Bank of China cut its 6-month fixed deposit rate to 3.45% p.a.

Banks in Singapore have largely maintained or lowered their interest rates on fixed deposit accounts in January 2024.

The company was founded in 1932 and is headquartered in Singapore. The Others segment includes property and investment holding operations.

The OCBC Wing Hang segment engages in commercial banking activities. The Insurance segment offers fund management as well as life and general insurance. The Global Treasury and Markets segment deals with foreign exchange rates, money market, fixed income and derivatives trading, and structured treasury products. The Global Corporateor Investment Banking segment provides project financing, overdrafts, deposit accounts, trade financing, syndicated loans, advisory services, and cash management. The Global Consumer or Private Banking segment offers checking accounts, fixed deposits, savings, consumer loans, credit cards, wealth management products, and brokerage services. It operates through the following business segments: Global Consumer or Private Banking Global Corporate or Investment Banking, Global Treasury and Markets, Insurance, OCBC Wing Hang, Insurance and Others. engages in the provision of financial and banking services.

Ocbc foreign fixed deposit rates