If you’re easygoing and don’t have any preference when it comes to banks, the best rate is ICBC’s 1.85% p.a. Literally almost every other bank out there has better rates, except DBS/POSB and Citibank who don’t have any SGD fixed deposit promotions. (with $2,000 deposit in current/savings account) Assuming you are looking to deposit $20,000 for 1 year, here are some alternatives: Bank/financial institutionġ.88% p.a.

OCBC vs Maybank and other fixed deposit promotionsĪs mentioned, the OCBC fixed deposit rates aren’t exactly the best in town.

Considering you’re just parking your money there, that’s not half bad.īut while the promo rate is significantly better than the board rate (the usual rate is only 0.25% p.a.), OCBC’s fixed deposit promotion is much less attractive than that of many other banks in Singapore.įor November 2019, foreign banks like Maybank, CIMB and ICBC offer better interest rates of over 1.80% p.a. for minimum $20,000 deposit for 12 months. They’re the standard, non-promotional rates offered by the banks.īut you don’t need to be too fussed with those because no matter which bank you choose, there will almost always be an ongoing fixed deposit promotion.įor OCBC, the current promotion is 1.55% p.a. If you’re new to the fixed deposits game, let’s just put it out there: board rates typically suck. OCBC fixed deposit rates (Nov 2019) OCBC fixed deposits Let’s see how OCBC’s fixed deposits measure up against others. There are plenty of fixed deposit promotions in the market, but if your motto is “local is best”, then you might be looking for the best local bank to place your savings in. However, bear in mind that you may risk losing all or part of your interest if the fund is withdrawn prematurely.Looking for a low risk investment vehicle that is virtually stress free? Then a fixed deposit might be for you. Typically, the longer your FD period is, the higher the interest rate is. This can also be done via iMoney's online calculator. To get maximum returns from your deposits, check the rates of all the banks before opening an FD. Keep yourself updated with the latest FD promotions by checking iMoney's online calculator regularly (Scroll up to use the calculator).ĭifferent banks have different FD interest rates. Interest rates from FD promotions are usually higher than the board rate. Most banks run FD promotions a few times a year in order to entice new and recurring customers.

As such, if you have some spare cash that you do not need access to, you can boost your income by choosing to invest in it. FD's generally provide savers with higher interest rates than regular savings accounts.

Ocbc corporate fixed deposit