If you’ve been parking your money in a regular savings account, you might be missing out on easy, risk-free returns. Fixed deposits — also known as time deposits — are a simple way to earn guaranteed interest on your savings without taking on investment risk. And with some banks in Singapore offering rates of up to 1.60% p.a., it’s worth taking a closer look this month.

Contrary to what many believe, you don’t need to be sitting on a large pile of cash to open a fixed deposit account. In fact, several banks now allow deposits starting from just $500, making it more accessible than ever for everyday savers. Whether you’re looking for short-term growth over 3 months or prefer to lock in your funds for a year, Singapore’s major banks and digital platforms have a range of promotions available this November.

Before diving into the numbers, here’s what makes fixed deposits attractive: predictable returns, zero market risk, and flexible deposit periods ranging from one month to several years. The trade-off, of course, is liquidity — your funds are typically locked in until maturity.

So, which banks are offering the most competitive rates in Singapore right now? Let’s find out.

Overview of Singapore’s Fixed Deposit Landscape (November 2026)

Fixed deposit rates in Singapore have softened from last year’s highs, but some banks are still offering surprisingly good deals. If you have idle cash sitting in your account, these are the top offers worth noting:

• DBS: Up to 1.60% p.a. with a minimum deposit of $1,000 (8–60 months)
• Bank of China: 1.40% p.a. with just $500 for 3 months via mobile banking
• StashAway Simple Guaranteed: 1.40% p.a. with no minimum amount (3-month tenure)
• Syfe Cash+ Guaranteed: 1.40% p.a., no minimum, for 3 months
• CIMB: 1.30% p.a. for $10,000 (3 months)
• RHB: 1.25% p.a. for $20,000 (3 months), with no early withdrawal penalty
• Maybank: 1.25% p.a. for $20,000 (6 months)
• ICBC: 1.20% p.a. for $500 (3 months via e-banking)
• UOB: 1.20% p.a. for $10,000 (6 months)
• OCBC: 1.15% p.a. for $20,000 (9 or 12 months online placement)
• Standard Chartered: 1.15% p.a. for $25,000 (6 months)
• HSBC: 0.85% p.a. for $30,000 (1 month)

Short-Term Fixed Deposits: 3-Month Commitments

If you prefer short-term flexibility, 3-month deposits are ideal for testing the waters or parking cash temporarily. Digital platforms currently offer some of the best short-term deals:

• StashAway Simple Guaranteed: Up to 1.40% p.a. for 3 months, with no minimum or maximum limit. Funds are invested in MAS-regulated bank deposits, offering safety and simplicity.
• Syfe Cash+ Guaranteed: Also at 1.40% p.a. for 3 months, and like StashAway, it gives users guaranteed returns without having to choose a bank manually.
• Bank of China: 1.40% p.a. for a 3-month term with only $500 required — one of the most accessible offers right now.
• ICBC: 1.20% p.a. for a minimum of $500, with the added benefit of no penalty for early withdrawal.
• CIMB: 1.30% p.a. for $10,000 (3 months) for personal banking clients, or 1.35% p.a. for preferred clients.

These short tenures are perfect for those who want quick returns without committing their money for too long.

Medium-Term Options: 6-Month and 12-Month Deposits

For savers willing to commit a little longer, several banks are offering competitive mid-range rates:

• DBS: The standout this month with 1.60% p.a. for a 12-month tenure and a minimum of $1,000.
• CIMB: 1.25–1.30% p.a. for 6 months and 1.10–1.15% p.a. for 12 months.
• Maybank: 1.25% p.a. for 6 months; plus, early birds who deposit at least $20,000 can get $50 in FairPrice e-vouchers.
• RHB: 1.20–1.30% p.a. for 6 months, and unlike most banks, they don’t penalise early withdrawals — a big plus.
• OCBC: 1.15% p.a. for 9–12 months (online banking only).
• UOB: 1.20% p.a. for 6 months with $10,000 minimum.
• Hong Leong Finance: 1.10% p.a. for 12 months (minimum $20,000).

If you prefer stability and are confident you won’t need to touch your funds for half a year or more, these longer tenures can be worthwhile.

Minimum Deposit Requirements—From $500 to $200,000

Fixed deposits aren’t just for the wealthy. The entry barrier varies widely depending on the bank:

• As low as $500: ICBC and Bank of China (via e-banking).
• $1,000–$10,000: DBS, CIMB, and UOB.
• $20,000–$50,000: RHB, Maybank, OCBC, and Standard Chartered.
• $200,000 and above: State Bank of India (up to 1.35% p.a. for 6 months).

So, whether you’re saving your first $500 or managing a six-figure portfolio, there’s a rate tier that fits your situation.

How Fixed Deposits Compare

Fixed deposits are ideal for risk-averse savers looking for predictable returns. While their rates are lower than Singapore Savings Bonds (SSBs) or T-bills, they offer the advantage of guaranteed principal and easy setup through online banking. For those with short-term cash goals, they remain one of the safest and most straightforward options available.

Final Thoughts

While fixed deposit rates in Singapore have eased compared to last year’s highs, they still offer a reliable way to earn a steady return — especially if you choose shorter tenures or digital platforms like Syfe or StashAway. For traditional banks, DBS and Bank of China lead the pack this month with attractive promotions.

If you’re just starting out, consider the low-entry offers from ICBC or Bank of China that require only $500, or go for higher yields with DBS’s 1.60% p.a. rate for 12 months.

With fixed deposits, the key is simple: don’t let your idle money sit still when it could be earning passive interest with minimal effort.