Friday, November 5, 2010

Highest Fixed Deposit Rates in Singapore

Just realised that local banks fixed deposit rates are really crazily low. Effective interest rates after all those interest on interest, free vouchers and loyalty bonus gimmicks never breach 1% PA.

But wait, check this out..

Not some Ponzi scheme but fresh rates given by ICIC bank. BUT, they only have one pathetic branch at Raffles Quay. Still not a bad deal for most people!

Their Aussie rates, my favourite currency is as follows:

No link to their websites as this is not an advert.


la papillion said...

Hi sbc,

Wow, thanks for the information. They really offered great returns for the fixed D. As far as I know, the others are offering less than 1% for any amounts for any period of time stated in their website. Except one - maybank. Maybank offers 1.15% for 3 yrs fixed deposit.

la papillion said...


Sorry, I just realised that the returns even beats that of the recently issued SIA bonds. That one gives 2.15%, min 10k, maturity period 5 yrs.

Very good deal indeed.

Sgbluechip said...

YUP! And there is no transaction costs!

Anonymous said...

I just opened an account with a local bank.

It is a checking account (no need to lock your cash in fixed deposit).

Interest is 0.75% till end of Dec. Next year is 0.3 to 0.5% depending on your sum. You need to put minimum S$200k initially but no charge if it falls below that later.

I find it convenient to park my money in between investments.

Denis said...

Hi SBC, sound fabulous...its even better the RHB, whom i think was the best so far. But wat's the chances of ICIC closing down and absconded with the funds? Does the MAS keep tabs or prevent them from doing so?