Monday 8 June 2020

Highest Fixed Deposit Rate in Singapore for June 2020

So I was checking on the various fixed deposit (FD) rates being offered locally since mum called me this morning to discuss about transferring some of her funds to a FD.

Just sharing below since sharing is caring : )

Note that all rates are from the respective institution's website as of 8th June 2020, 6 pm thereabout.

For comparison sake, this month's Singapore Savings Bond (SSB) offers a paltry 0.3% interest for the first year.

For younger generations age 65 and below, I feel one of the best options for a risk-free deposit now is the 2.5% P.A. interest rate currently offered by Singlife.

It's simple to set up and apply. Best of all it comes with some insurance coverage since it is technically an insurance company.

Top up and withdrawal can be done anytime too.

Downside is that the 2.5% P.A. interest rate is only applicable to the first $10,000.

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