Dbs Fixed Deposit

Posted : admin On 25.02.2021
  1. Dbs Fixed Deposit Interest Rates
  2. Dbs Fixed Deposit Rate For Senior Citizens
  3. Dbs Fixed Deposit
  4. Dbs Fixed Deposit Calculator
  5. Fixed Deposit Calculator
  6. Dbs Fixed Deposit Account
  7. Dbs Fixed Deposit Interest Rate

Looking for the best fixed deposits in October 2020 in Singapore? If you have 50K, you should read my previous post on Where Will You Put 50K? before you jump straight into Fixed Deposits.

Fixed Deposit (FD): Open Fixed Deposit Account online instantly with digibank by DBS & get higher interest rates with other benefits on longer period of deposits. Invest in FD on-the-go. Savings that’ll only grow, come rain or storm. DBS 9 Month Fixed Deposit. Type Fixed: Rate 1.35%: Currency: SGD: The rate of 1.35% is 0.57% higher than the average 0.78%. Also it is the highest rate for this term. DBS Fixed Deposit offers interest rate ranging from 3.00% p.a to 4.75% p.a. With a tenure of 7 days to less than 365 days. The DBS online service also offers the freedom of liquidity with a range of tenures coupled with assured returns on fixed deposits. DBS FD Interest Rate 2020.

Fixed Deposit or Singapore Savings Bonds?

Forget about the Singapore Savings Bonds. The 1 year interest rate for November 2020 Singapore Savings Bonds has fallen as low as 0.23%, thus any of the fixed deposits promotion below will beat the Singapore Savings Bonds.

The Alternatives – Short Term Endowments

I have shared many other financial instruments that is similar to what fixed deposits can offer. One good alternative is buying a short term endowment plan. Endowment plans guarantee your capital upon maturity which is similar to what fixed deposits offer. Most of the short term endowment plans are on limited tranche basis.

At the point of writing, the second tranche of the popular NTUC Gro Capital Ease (1.96% for 3 years) is fully subscribed.

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The Alternatives – GIGANTIC, Dash EasyEarn or Singlife

Alternatively, you can check out GIGANTIC, Dash EasyEarn or Singlife whereby there is no lock in period and they offer a higher returns as compared to fixed deposits. Personally, I have signed up a Singlife Account and Dash EasyEarn.

GIGANTICDash EasyEarnSinglife Account
Lock In PeriodNoNoNo
Minimum investment amountS$50S$2,000S$500
Return rate per annum2.0% per annum on your first S$10,000 for the first year

1.0% for amounts above S$10,000 for the first year

2.0% p.a. return for the first year (Guaranteed 1.5% p.a. + 0.5% p.a. bonus for first policy year, available on a first come, first served basis)2.0% for first S$10,000

1.0% for next S$90,000

Note:
* Singlife will be adjusting their crediting rates on the Singlife Account from 2.5% to 2% per annum (p.a.) for the first S$10,000 with effect from 1 November 2020.

* From 1 November 2020, customers who spend S$500 within their specified card spend period on the Singlife Visa Debit Card will qualify for a bonus 0.5% p.a. return on top of the new base return of 2% p.a. for the duration of one policy month.

Nevertheless, if you still prefer traditional fixed deposits, below are the best fixed deposits promotion that I have found for October 2020. The current low interest rates offered by most banks remained unattractive to me.

Among the banks below, I prefer the fixed deposit from DBS given that DBS offer much higher interest rate per annum for a 12 month placement as compared to the rest of the banks. You will not find any banks except DBS that pays you 1.15% p.a. for a S$20,000 placement.

DBS is the best fixed deposits in October 2020!

DBS Fixed Deposit (Recommended)

Interest Rate: Refer below, Minimum Placement: S$1,000, Promotion Valid Until: Not stated

The interests rates were published on 3rd September 2020. The interest rates for the amount tier S$1,000 to S$19,999 and other tenors remain unchanged. The interest rates for 12 months and above tenors are applicable only to rollover placements at the same tenors.

For a minimum amount of S$1,000, you can perform a fixed deposit placement with DBS. For a 12 months placement of S$10,000 at 1.15% p.a., the interest that you will receive upon maturity is S$115.

Hong Leong Finance Deposit Promotion

Interest Rate: Up to 0.85%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated

For 12 months placement of S$20,000 at 0.85% p.a., the interest that you will receive upon maturity is S$170.00. This is on the condition that you perform the renewal or fresh funds deposit via PayNow.

Deposit Amount12 months (Renewal or Fresh Funds via PayNow)12 months (Fresh Funds At Branch)
S$20,000 and above0.85%0.80%

MayBank iSAVvy Time Deposit

Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: Not stated

MayBank has reduced their interest rate across the tiers. Here are the interest rates for MayBank iSAVvy Time Deposit as of 9th October 2020.

For a 6 months placement of S$5,000 at 0.40% p.a., the interest that you will receive upon maturity is S$10.00.

For a 12 months placement of S$25,000 at 0.65% p.a. and 24 months at 0.85% p.a., the interest that you will receive upon maturity is S$162.50 and $426.81 respectively.

UOB Time Deposit

Interest Rate: 0.55%, Minimum Placement: S$20,000, Promotion Valid Until: 31st October 2020

The interest rate has fallen from 0.65% p.a. in September to 0.55% p.a. in October.

For 10 months placement of S$20,000 at 0.55% p.a., the interest that you will receive upon maturity is S$91.67.

Minimum Placement (Fresh Funds)TenorPromotional Rate
S$20,00010 months0.55% p.a.

OCBC Time Deposit

Interest Rate: 0.50%, Minimum Placement: S$5,000, Promotion Valid Until: 31st October 2020

OCBC has reduced their fixed deposit rate from 0.60% p.a. in September to 0.50% p.a. in October.

Minimum Placement (Fresh Funds)TenorPromotional Rate
S$5,00012 months0.50% p.a.

Dbs Fixed Deposit Interest Rates

For 12 months placement of S$5,000 at 0.50% p.a., the interest that you will receive upon maturity is S$25.00.

CIMB Fixed Deposit

Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: 31st October 2020

For 12 months placement of S$5,000 at 0.30% p.a., the interest that you will receive upon maturity is S$15.00.

Standard Chartered Bank Singapore Dollar Time Deposit

Interest Rate: 0.20% to 0.30%, Minimum Placement: S$25,000, Promotion Valid Until: 12th October 2020

For 6 months placement of S$25,000 at 0.20% p.a., the interest that you will receive upon maturity is S$25.00.

If you happen to be a priority banking customer, for 6 months placement of S$25,000 at 0.30% p.a., the interest that you will receive upon maturity is S$37.50.

Minimum PlacementTenurePromotional RatePriority Banking Preferential Rate
S$25,0006 months0.20% p.a.0.30% p.a.

Deposit Details

8 mths12 mths18 mths
$1k to <$20k0.60% p.a.1.15% p.a.1.30% p.a.

Enjoy 0.60% p.a. for 8 months fixed deposit

Dbs Fixed Deposit Rate For Senior Citizens

Interest rates are applicable for minimum placement amount of $1,000 and maximum amount of $19,999

Dbs fixed deposit interest rate

Interest rates for tenors of 8 months and below are applicable for all customers

Receive 1.30% p.a. for 18 months fixed deposit

Dbs fixed deposit rate calculator

Dbs Fixed Deposit

Receive 1.15% p.a. for 12 months fixed deposit

Receive 0.95% p.a. for 9 months fixed deposit

Interest rates for tenors of 9 months and above are applicable only to rollover of existing placements at the same tenor

New placement may be made via iBanking or at any DBS branches

The DBS Fixed Deposit Account gives you the opportunity to maximise your savings with attractive interest, while keeping your funds secure

Dbs Fixed Deposit Calculator

Click here to go to DBS website for more details about DBS Fixed Deposit Rate.

Historical Chart and Deposit Rates

* Interest Rates based on highest fixed deposit rate with
maximum deposit amount of $75,000 and 3 to 18 months tenure

Fixed Deposit Calculator

DBS current highest fixed deposit rate is 0.60% p.a. for 8 months tenure with maximum deposit of $19,999.

There is currently no fixed deposit promotional rate for DBS Fixed Deposits. The current highest fixed deposit rate is a DBS board rate

The current Money Lobang National Average Fixed Deposit Rates for March 2021 is 0.46% p.a.

Dbs Fixed Deposit Account

The average monthly highest fixed deposit rate for DBS since 2018 is 1.23% p.a.

Dbs Fixed Deposit Interest Rate

DBS has not had any fixed deposit promotional campaigns