(b) your placement of fixed deposit is for 12 months or above Minimum placement sum for 1 or 2 months deposit is S$10,000, and for the longer terms is S$500. Overdue Fixed Deposit (3 to 36 months) will be paid on the then prevailing Board Rate for completed quarter (s) or cycle (s).
- Receive 2.25% p.a. With 12 months eFixed Deposit / eFixed Deposit-i Promotion (Until 31 Mar 2021) Placement must be made via via Hong Leong Connect. Minimum deposit of RM10,000 and above and maximum RM2,000,000. Promotion is applicable for online placement. Click here to go to Hong Leong Bank's website for more details.
- Hong Leong Finance fixed deposit rate: Interest rate: 0.65 per cent p.a.
Best fixed deposit rates in Singapore (Feb 2021)
We've picked the highest fixed deposit rates for SGD in attainable deposit amounts (i.e. $50,000 and below). Note that these promotional rates change monthly and the bank can change the rates anytime.| Bank/financial institution | Min. deposit amount | Tenure | Interest rates |
| DBS | $1,000 | 18 months | 1.3% p.a. |
| Maybank | $1,000 | 36 months | 1% p.a. |
| Hong Leong Finance | $20,000 | 24 months | 0.75% p.a. |
| ICBC | $500 | 12 months | 0.6% p.a. |
| UOB | $20,000 | 10 months | 0.5% p.a. |
| Standard Chartered | $25,000 | 3 months | 0.45% p.a. |
| OCBC | $20,000 | 12 months | 0.4% p.a. |
| RHB | $20,000 | 12 months | 0.4% p.a. |
| CIMB | $1,000 | 3 months | 0.3% p.a. |
| HSBC | $30,000 | 6 months | 0.25% p.a. |
In 'normal', non-Covid-19 times, promotional fixed deposit rates can go up to 1.8% to 2% p.a. However, with the current sluggish economy, fixed deposit interest rates remain low — although they might still be better than savings accounts.DBS fixed deposit rates (Feb 2021)
| DBS fixed deposit rate | |
| Interest rate | 1.3% p.a. |
| Deposit amount | $1,000 to $19,999 |
| Tenure | 18 months |
The minimum of $1,000 is is quite a manageable amount, although you have to commit to a tenure of 18 months. Otherwise, you can still get a slightly lower interest rate of 1.15% p.a. for 12 months. DBS is the best out there this month given the current economic climate and decreasing interest rates all around. It’s a good option if you want to save up and prefer local banks. [ms-inline-widget account_type='fixed-deposit' amount='10000' tenure='18' locale='en' country_code='sg' channel='fixed-deposit' product_slug='dbs-singapore-dollar-fixed-deposit' ] Maybank fixed deposit rates (Feb 2021)
| Maybank fixed deposit rate | |
| Interest rate | 1% p.a. |
| Deposit amount | Min. $1,000 |
| Tenure | 36 months |
Hong Leong Fixed Deposit Rate Malaysia 2020
Maybank fixed deposit. In February, you can earn 1% p.a. with Maybank's Singapore Dollar Time Deposit. Unfortunately you have to leave it in for 36 months (3 whole years!) to earn that measly 1% p.a. [ms-inline-widget account_type='fixed-deposit' amount='10000' tenure='24' locale='en' country_code='sg' channel='fixed-deposit' product_slug='maybank-singapore-dollar-time-deposit' ]Hong Leong Finance fixed deposit rates (Feb 2021)
| Hong Leong Finance fixed deposit rate | |
| Interest rate | 0.75% p.a. |
| Deposit amount | Min. $20,000 |
| Tenure | 24 months |
ICBC fixed deposit rates (Feb 2021)
| ICBC fixed deposit rate | |
| Interest rate | 0.6% p.a. |
| Deposit amount | Min. $500 |
| Tenure | 12 months |
UOB fixed deposit rates (Feb 2021)
| UOB fixed deposit rate | |
| Interest rate | 0.5% p.a. |
| Deposit amount | Min. $20,000 |
| Tenure | 10 months |
Standard Chartered fixed deposit rates (Feb 2021)
| Standard Chartered fixed deposit rate | |
| Interest rate | 0.45% p.a. |
| Deposit amount | Min. $25,000 |
| Tenure | 3 months |
OCBC fixed deposit rates (Feb 2021)
| OCBC fixed deposit rate | |
| Interest rate | 0.4% p.a. |
| Deposit amount | Min. $20,000 |
| Tenure | 12 months |
RHB fixed deposit rates (Feb 2021)
| RHB fixed deposit rate | |
| Interest rate | 0.4% p.a. |
| Deposit amount | Min. $20,000 |
| Tenure | 12 months |
What about HSBC and CIMB fixed deposits?
The rest of the banks — CIMB and HSBC — are offering 0.3% or less on their fixed deposits, which is hardly worth your time. In fact, you can get 0.3% p.a. on your savings with no lock-in just by opening a regular CIMB FastSaver account. Of course, banks are notoriously fickle about their interest rates, and all these could easily change next month. For the latest promotional rates, remember to bookmark this page and our MoneySmart fixed deposit comparison page before you commit. Plus, hHong Leong Fixed Deposit Rate
ere’s a quick and dirty summary of what youHong Leong Special Fd Rate
need to know about fixed deposits.Fixed deposit vs savings account — what's the difference?
https://youtu.be/Sq9hjlnEgY0 Once an attractive alternative to that pathetic 0.05% p.a. interest on savings accounts, fixed deposits — like so many ageing Channel 8 starlets — are fading from collective memory. Today, every bank in Singapore is competing for your dollar with high interest savings accounts, which may actually offer better returns. Here are the differences between fixed deposits and savings accounts at a glance:| Fixed deposit | Savings account | |
| Tenure | As low as 3 months, but go for at least 12 months for better rates | None |
| Interest rate | The longer the tenure, the better the interest rate | Usually the same regardless of tenure |
| Amount to deposit | Fixed amount, usually at least $10,000 | Smaller initial deposit and minimum monthly balance ($500 to $3,000) |
| Currency | SGD by default, but some banks offer higher interest rates for foreign currency | SGD by default. There are a few multi-currency accounts, but no difference in interest rate |
| Can you withdraw? | Contrary to popular belief, yes, but you lose the interest | Yes, no impact on interest, but don’t fall below the minimum balance |
| Interest payments | Quarterly or annually | Monthly |
| Risk level | Virtually risk-free, insured up to $75,000 by Singapore Deposit Insurance Corporation (SDIC) |
Hong Leong Fixed Deposit Rate 2020
Fixed deposit vs Singapore Savings Bonds (SSB) — which is better?
In an earlier article, we compared the Singapore Savings Bonds to fixed deposits. There are a few key distinctions between these virtually risk-free investment vehicles. First, interest rates. Believe it or not, fixed deposit interest rates are actually higher than SSBs. The November issue of SSBs offers a measly 0.23% p.a. interest average return after the first 2 years, which you can easily beat with a well-chosen fixed deposit promotion. Next, entry point. It takes just $500 to invest in Singapore Savings Bonds, which is lower than the $1,000 or more for most fixed deposits. That said, ICBC fixed deposits only require $500 to start. (On the flip side, there's a cap of $200,000 you can put into Singapore Savings Bonds. There's no cap for fixed deposits.) Finally, tenure. Fixed deposits are shorter term investments. After the lock-in period is over, you should shop around again for another place to park your money. With SSBs, however, the interest rate climbs every year, so the longer you keep the money in there (up to a maximum of 10 years) the more you get. At the same time, SSBs have higher liquidity than fixed deposits. You will not be penalised if you withdraw your money at any point. You do have to pay a $2 transaction fee each time you buy or redeem a bond, though.Hong Leong Finance Fixed Deposit Rates
Know anyone who likes to park their cash in fixed deposits? Share this article with them. [ms_related_articles] The post 7 Best Fixed Deposit Rates in Singapore (Feb 2021) — DBS, Maybank & More appeared first on the MoneySmart blog.Hong Leong Fd Rate Today
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