Maybank Fixed Deposit Rate 2020
2021年5月31日Register here: http://gg.gg/usyro
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.
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S. Best viewed on the latest versions of Chrome, Firefox, Edge, Safari. Achieve your Goal; Open an Account; Apply for Credit Cards; Get a Loan; Grow your Wealth.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.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 AccountLock In PeriodNoNoNoMinimum investment amountS$50S$2,000S$500Return 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 year2.0% 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 RateS$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 RateS$5,00012 months0.50% p.a.
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 DepositMaybank Islamic Fixed Deposit Rate 2020
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 RateS$25,0006 months0.20% p.a.0.30% p.a.
Looking for the best fixed deposits in August 2020 in Singapore? There is no National Day fixed deposit promotion this year. This is unlike previous years whereby banks offered a one time higher interest rate if you do a placement before National Day.
The 1 year interest rate for September 2020 Singapore Savings Bonds has fallen as low as 0.24%, thus any of the fixed deposits promotion below will beat the Singapore Savings Bonds.
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. You can read more about Best Endowment Plans In August 2020 here.
In July, I have signed up for a Dash EasyEarn, which is an insurance savings plan that offers you 2.0% p.a. for the first year up to S$20,000. The estimated interest rate p.a. is 1.5% thereafter.
The current low interest rates offered by most banks remained unattractive to me. Nevertheless, if you still prefer traditional fixed deposits, below are the best fixed deposits promotion that I have found for August 2020.
Among the banks below, I prefer the fixed deposit from DBS and MayBank given that they offer much higher interest rate per annum for a 12 month placement as compared to the rest of the banks. 5 dragons aristocrat.DBS Fixed Deposit
Interest Rate: Refer below, Minimum Placement: S$1,000, Promotion Valid Until: Not stated
The interests rates were published on 18th June 2020. At this point of writing, I have not seen any revision to the interest rates.
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.MayBank iSAVvy Time Deposit
Interest Rate: 0.90% (12 months) or 1.15% (24 months), Minimum Placement: S$25,000, Promotion Valid Until: Not stated
As shared previously, MayBank had decided to do away with their traditional time deposit and replace with the iSAVvy Time Deposit.
This promotion is valid from 1st July 2020 onwards for a minimum placement amount of S$25,000 in iSAVvy Time Deposit via Maybank Mobile/Online Banking (for individuals only).Maybank Fixed Deposit Rate March 2020
For a 12 months placement of S$25,000 at 0.90% p.a., the interest that you will receive upon maturity is S$225.
For a 24 months placement of S$25,000 at 1.15% p.a., the interest that you will receive upon maturity is S$578.31.Hong Leong Finance Deposit Promotion
Interest Rate: Up to 0.65%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
For 8 months placement of S$20,000 at 0.60% p.a., the interest that you will receive upon maturity is S$80.00.Deposit Amount3 month8 monthS$20,000 to < S$100,0000.35%0.60%S$100,000 and above0.40%0.65%UOB Time Deposit
Interest Rate: 0.80%, Minimum Placement: S$20,000, Promotion Valid Until: 31st August 2020 Slot jackpots june 2020.
The interest rate has fallen from 0.90% p.a. in July to 0.80% p.a. in August.
For 10 months placement of S$20,000 at 0.80% p.a., the interest that you will receive upon maturity is S$133.33.Minimum Placement (Fresh Funds)TenorPromotional RateS$20,00010 months0.90% p.a.Maybank FdOCBC Time Deposit
Interest Rate: 0.70%, Minimum Placement: S$5,000, Promotion Valid Until: 31st August 2020
OCBC has reduced their fixed deposit rate from 0.80% p.a. in July to 0.70% p.a. in August.Minimum Placement (Fresh Funds)TenorPromotional RateS$5,00012 months0.70% p.a.
For 12 months placement of S$5,000 at 0.70% p.a., the interest that you will receive upon maturity is S$35.00.CIMB Fixed Deposit
Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: 31st August 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.
Seriously?Standard Chartered Bank Singapore Dollar Time Deposit
Interest Rate: 0.20% to 0.30%, Minimum Placement: S$25,000, Promotion Valid Until: 15th August 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.Maybank Fd Rate
Seriously?Minimum PlacementTenurePromotional RatePriority Banking Preferential RateS$25,0006 months0.30% p.a.0.40% p.a.
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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.
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S. Best viewed on the latest versions of Chrome, Firefox, Edge, Safari. Achieve your Goal; Open an Account; Apply for Credit Cards; Get a Loan; Grow your Wealth.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.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 AccountLock In PeriodNoNoNoMinimum investment amountS$50S$2,000S$500Return 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 year2.0% 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 RateS$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 RateS$5,00012 months0.50% p.a.
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 DepositMaybank Islamic Fixed Deposit Rate 2020
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 RateS$25,0006 months0.20% p.a.0.30% p.a.
Looking for the best fixed deposits in August 2020 in Singapore? There is no National Day fixed deposit promotion this year. This is unlike previous years whereby banks offered a one time higher interest rate if you do a placement before National Day.
The 1 year interest rate for September 2020 Singapore Savings Bonds has fallen as low as 0.24%, thus any of the fixed deposits promotion below will beat the Singapore Savings Bonds.
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. You can read more about Best Endowment Plans In August 2020 here.
In July, I have signed up for a Dash EasyEarn, which is an insurance savings plan that offers you 2.0% p.a. for the first year up to S$20,000. The estimated interest rate p.a. is 1.5% thereafter.
The current low interest rates offered by most banks remained unattractive to me. Nevertheless, if you still prefer traditional fixed deposits, below are the best fixed deposits promotion that I have found for August 2020.
Among the banks below, I prefer the fixed deposit from DBS and MayBank given that they offer much higher interest rate per annum for a 12 month placement as compared to the rest of the banks. 5 dragons aristocrat.DBS Fixed Deposit
Interest Rate: Refer below, Minimum Placement: S$1,000, Promotion Valid Until: Not stated
The interests rates were published on 18th June 2020. At this point of writing, I have not seen any revision to the interest rates.
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.MayBank iSAVvy Time Deposit
Interest Rate: 0.90% (12 months) or 1.15% (24 months), Minimum Placement: S$25,000, Promotion Valid Until: Not stated
As shared previously, MayBank had decided to do away with their traditional time deposit and replace with the iSAVvy Time Deposit.
This promotion is valid from 1st July 2020 onwards for a minimum placement amount of S$25,000 in iSAVvy Time Deposit via Maybank Mobile/Online Banking (for individuals only).Maybank Fixed Deposit Rate March 2020
For a 12 months placement of S$25,000 at 0.90% p.a., the interest that you will receive upon maturity is S$225.
For a 24 months placement of S$25,000 at 1.15% p.a., the interest that you will receive upon maturity is S$578.31.Hong Leong Finance Deposit Promotion
Interest Rate: Up to 0.65%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
For 8 months placement of S$20,000 at 0.60% p.a., the interest that you will receive upon maturity is S$80.00.Deposit Amount3 month8 monthS$20,000 to < S$100,0000.35%0.60%S$100,000 and above0.40%0.65%UOB Time Deposit
Interest Rate: 0.80%, Minimum Placement: S$20,000, Promotion Valid Until: 31st August 2020 Slot jackpots june 2020.
The interest rate has fallen from 0.90% p.a. in July to 0.80% p.a. in August.
For 10 months placement of S$20,000 at 0.80% p.a., the interest that you will receive upon maturity is S$133.33.Minimum Placement (Fresh Funds)TenorPromotional RateS$20,00010 months0.90% p.a.Maybank FdOCBC Time Deposit
Interest Rate: 0.70%, Minimum Placement: S$5,000, Promotion Valid Until: 31st August 2020
OCBC has reduced their fixed deposit rate from 0.80% p.a. in July to 0.70% p.a. in August.Minimum Placement (Fresh Funds)TenorPromotional RateS$5,00012 months0.70% p.a.
For 12 months placement of S$5,000 at 0.70% p.a., the interest that you will receive upon maturity is S$35.00.CIMB Fixed Deposit
Interest Rate: Refer below, Minimum Placement: S$5,000, Promotion Valid Until: 31st August 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.
Seriously?Standard Chartered Bank Singapore Dollar Time Deposit
Interest Rate: 0.20% to 0.30%, Minimum Placement: S$25,000, Promotion Valid Until: 15th August 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.Maybank Fd Rate
Seriously?Minimum PlacementTenurePromotional RatePriority Banking Preferential RateS$25,0006 months0.30% p.a.0.40% p.a.
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