Compare a deposit rate only after checking the amount, tenure, eligibility and effective date. This page records the bank figures verified below and explains how to compare fixed deposits, savings accounts, Singapore Savings Bonds and Treasury bills on the same basis.
Verification update: 29 September 2026. Standard Chartered’s SGD fresh-funds time-deposit promotion and CIMB’s current online SGD fixed-deposit table were rechecked on their published pages. The October 2026 Singapore Savings Bond figures below were cross-checked across current issue trackers that identify MAS issue GX26100Z; MAS’s public Savings Bonds page returned a maintenance message during this check, so the SSB rate is labelled cross-checked rather than primary-source-certified. Other bank rates remain outside this verified snapshot. From The Ledger.
Three cautions now govern the comparison. Standard Chartered’s 6-month promotion runs only through 30 September 2026 and requires at least S$25,000 of fresh funds; the rate ranges from 1.70% to 2.00% p.a. by banking tier. CIMB’s current online promotion is lower than the 28 September snapshot on this page: Personal Banking is 1.35% for 3 months, 1.65% for 6 months and 1.70% for 9 or 12 months; Preferred Banking is 1.40%, 1.70% and 1.75% respectively. The October Savings Bond application window has already closed, so its rates are reference data rather than an invitation to apply.
What is verified, and what still needs a quote
| Product | Evidence status on 29 September 2026 |
|---|---|
| Standard Chartered SGD time deposit | Official promotion checked: 6 months, minimum S$25,000 fresh funds, 1.70% Personal, 1.80% Priority and 2.00% Priority Private; promotion ends 30 September 2026. |
| CIMB SGD online fixed deposit | Official rate table checked: rates differ by tenure and Personal/Preferred tier; current figures are listed below. |
| Other fixed deposits and savings accounts | Not rechecked as a complete market set. Obtain a dated provider quote before treating any rate as current. |
| October 2026 Singapore Savings Bond | Issue GX26100Z is cross-checked at 1.65% for year 1 and 2.32% average over 10 years. MAS’s public Savings Bonds page was unavailable during this check, so these issue figures are not labelled primary-source-certified on this page. |
| T-bill | Keep using the exact MAS issue or benchmark record. This refresh does not convert the separate T-bill section into WL-MP-028 or certify a new auction result. |
| Deposit insurance | SDIC covers eligible SGD deposits up to S$100,000 in aggregate per depositor per Scheme member, not separately for every account. |
Current fixed-deposit quotations: 29 September 2026
| Provider and tier | 3 months | 6 months | 12 months | Amount, expiry and source |
|---|---|---|---|---|
| Standard Chartered Personal Banking | — | 1.70% p.a. | — | Minimum S$25,000 fresh funds; promotion 28 August–30 September 2026. Official source. |
| Standard Chartered Priority Banking | — | 1.80% p.a. | — | Same placement minimum and period; Priority Banking eligibility applies. Official source. |
| Standard Chartered Priority Private | — | 2.00% p.a. | — | Same placement minimum and period; Priority Private eligibility applies. Official source. |
| CIMB Personal Banking online promo | 1.35% p.a. | 1.65% p.a. | 1.70% p.a. | S$10,000 and above; 9 months is also 1.70%. Official source. |
| CIMB Preferred Banking online promo | 1.40% p.a. | 1.70% p.a. | 1.75% p.a. | S$10,000 and above; 9 months is also 1.75%. Preferred eligibility applies. Official source. |
The earlier wider table included Citibank, RHB, Bank of China, Bank of East Asia, Sing Investments and Finance, Singapura Finance, Maybank, UOB, HSBC, OCBC and DBS/POSB. Their previous figures have been withdrawn from the current comparison because this review did not substantiate every quote, amount tier and expiry. Obtain a dated provider quote before comparing one with the verified entries above.
Savings accounts: calculate the rate for your balance
| Account | What to establish before comparing |
|---|---|
| OCBC 360 | Check OCBC’s current terms for balance bands and the categories you actually meet. |
| DBS Multiplier | Check the current DBS product terms and transaction categories; a headline maximum is not a quote for every balance. |
| UOB One and UOB Stash | Compare UOB’s current accounts and the applicable balance and transaction conditions. |
| Standard Chartered Bonus$aver | Use its current product terms; separate everyday qualifying activity from insurance or investment purchases. |
For each balance band, multiply the amount in that band by the annual rate you qualify for. Add the annual interest amounts, then divide by the total balance to find the effective annual rate. Keep fees, required spending and the cost and suitability of any insurance or investment separate. Do not apply the highest marginal band to the entire balance.
October 2026 Singapore Savings Bond: application closed, issue pending
| October 2026 SSB | Current record |
|---|---|
| Issue | GX26100Z, issued 1 October 2026 and maturing 1 October 2036. |
| Year-1 interest rate | 1.65% p.a. |
| 10-year average return | 2.32% p.a. if held for the full 10 years. |
| Application window | Opened 1 September 2026 and closed 25 September 2026. On 29 September this is no longer an apply-now product. |
| Evidence status | Cross-checked across current Singapore issue trackers that identify the same issue code and rates. MAS’s public Savings Bonds page returned a maintenance message during this check, so this edition does not describe the rate as independently verified from the live MAS issue page. |
| Next issue | Do not substitute a projection for the November 2026 issue. Wait for the official issue schedule before publishing its final coupons or average return. |
The October issue’s application deadline has passed. If you already applied, use the allotment and issue records for that tranche rather than a forecast for the next one. Savings Bonds can be redeemed in later months under the scheme’s rules, but redemption is not same-day cash access. For the November issue, projections based on SGS yields remain estimates until the official issue is published; this monthly instrument should replace the October row only when that source is available.
The six-month Treasury bill
| Check | What to read |
|---|---|
| Auction result | MAS auction and issuance calendar: use the issue code, auction date, cut-off yield and maturity date. |
| Yield | A quoted annualised yield is not the cash return for six months; use the published issue price and maturity payment. |
| Leaving early | Check whether and how your bank can arrange a sale, its fees and the market price. Do not assume return of the amount paid before maturity. |
| CPF or SRS funding | Check current eligibility, account restrictions, bank cut-off dates and charges. For CPF, compare the interest forgone as well as the security’s return. |
| Verification status | The earlier “latest 1.70%” claim is withdrawn until it is attached to a verified, dated MAS auction result. |
What are the hoops behind a fixed deposit’s headline rate?
- Eligibility: use the rate for your banking tier.
- Amount: check the minimum and the balance band.
- Fresh funds: read the provider’s definition and look-back period.
- Tenure: distinguish an annual rate from the return over the actual deposit term.
- Early withdrawal: check interest loss and any fees.
- Channel and expiry: confirm whether the quote applies online, in branch or in an app, and the final placement date.
- Maturity: check renewal instructions and the rate that would apply on renewal.
Worked example: compare the same amount and period
| Illustration only | Interest before fees |
|---|---|
| S$20,000 at 2.00% p.a. for half a year | Approximately S$200: 20,000 × 0.02 × 0.5. This amount does not meet the Standard Chartered promotion’s S$25,000 minimum. |
| S$20,000 at 1.65% p.a. for a full year | S$330: 20,000 × 0.0165. The earlier page incorrectly called S$165 a full-year amount. |
| Same 1.65% rate for half a year | Approximately S$165, subject to the product’s calculation and payment conventions. |
| Decision inputs | Eligibility, actual maturity or redemption date, access to cash, fees and verified terms. |
For CPF account rules, use the official CPF member portal. The WahLiao Price Index remains a proposed measurement project until an evidenced edition is published.
Questions people ask
Which bank has the highest fixed deposit rate in Singapore right now?
This review does not establish a market-wide winner. The verified examples above differ by tenure, minimum deposit and customer tier. Compare the terms you qualify for on the day of placement.
Is fixed deposit interest taxed in Singapore?
IRAS lists interest from deposits with approved banks and licensed finance companies in Singapore as non-taxable for individuals. Other interest and debt-security circumstances have their own rules. Check IRAS’s interest-income guidance for the applicable category rather than treating every yield as automatically tax-free.
What happens when my fixed deposit matures?
Check the bank’s maturity instruction: the proceeds may be repaid or renewed under the account’s terms. A renewal quote can differ from the original promotion. Record the maturity date and review the instruction before it is due.
Fixed deposit or Singapore Savings Bond?
Compare the same holding period and the dates you can actually access the money. Use a verified deposit quote and the exact Savings Bond issue schedule, allowing for redemption timing, transaction fees and early-withdrawal conditions.
Why is the savings account headline so much higher than what I earn?
You may not meet every bonus condition, and a high rate may apply only to one slice of the balance. Work through the current balance bands and qualifying activity; the old generalised “realistic” rate estimates have been removed.
Verification log
| Date | Checked | Not certified |
|---|---|---|
| 29 September 2026 | Standard Chartered SGD promotion, including fresh-funds minimum, tier rates and 30 September expiry; CIMB online SGD promotional rate table; October SSB issue code and rates cross-checked across current issue trackers; the MAS SSB service status was checked directly. | A complete bank ranking; Standard Chartered terms after 30 September; final November 2026 SSB coupons before the official issue; a new T-bill auction result under WL-MP-028. |
| 28 September 2026 | Earlier Standard Chartered and CIMB snapshots, deposit-insurance and individual-interest guidance. | Superseded where the 29 September bank figures differ. |
This is general information from The Ledger. Read how WahLiao judges. Confirm product terms with the bank or issuer and use SDIC and IRAS for their respective rules.
Status: monthly rates instrument refreshed 29 September 2026 for WL-MP-025 and WL-MP-027. Fixed-deposit quotations are provider-verified for the offers named above. The October Savings Bond figures are cross-checked but not labelled primary-source-certified because MAS’s public Savings Bonds page was unavailable during the check. Future editions must recheck expired bank promotions and the exact Savings Bond issue rather than carrying these numbers forward.
