ocbc singapore foreign currency fixed deposit rate

Fixed deposits that are pegged to our board rates have no minimum placement requirements and customers can continue to roll over or renew their funds at competitive rates. 'The current board rate was revised in December 2022. 'DBS continues to offer market-competitive fixed deposit board rates, which enable our customers to enjoy the tailwinds that have come through higher interest rates,' a spokesperson for the bank told CNA. Singapore's largest bank has refrained from offering promotional interest rates, although it opted to raise its board rates or general fixed deposit rates three times in 2022. It also offered rates of 3.85 per cent for amounts between S$50,000 and S$999,999, and 3.95 per cent for deposits of S$1 million or more, for all three tenors.įixed deposit interest rates at DBS have remained unchanged since December last year, with the bank's highest offered rate on Friday being 3.2 per cent per annum for 12-month deposits of between S$1,000 and S$19,999. Ms Tan added that consumers are continuing to seek 'safe havens that can offer them reasonable yield even as the market remains volatile'.Īs of Friday, UOB was offering an interest rate of 3.55 per cent per annum for six-month and 10-month fixed deposits of S$10,000 and above.Īt the start of the year, the bank offered the same rate for six-month, 10-month and 12-month deposits of between S$10,000 and S$49,000.

'We regularly review our time deposit promotional rates, aligning them with the competitive landscape and market conditions to offer customers competitive interest rates to meet their savings and wealth accumulation needs,' OCBC's head of wealth management Tan Siew Lee said on Friday in response to a CNA query. Non-360 customers got a rate of 3.88 per cent. This was down from the 4.08 per cent offered at the start of the year for customers of the bank's flagship 360 savings account, for a minimum placement of S$20,000 over eight months. There is a minimum placement sum of S$5,000 (US$3,747). The lower interest rates at Singapore financial institutions and foreign lenders come amid an uncertain economic outlook.Īs of Friday (Apr 21), OCBC was offering an interest rate of 3.4 per cent per annum on six-month fixed deposits. SINGAPORE: Fixed deposit interest rates in Singapore have dipped in recent months, down from highs of about 4 per cent at the start of the year.

Ocbc singapore foreign currency fixed deposit rate