Best Fixed Deposit Rates in Singapore 2025

Updated: 18 Jul 2025

Fixed deposit rates may be generally declining in 2025, but there are still options worth considering for your spare funds.

SingSaver Team

Written bySingSaver Team

Team

The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.

Fixed deposits (FDs) in Singapore offer competitive interest rates, with special promotions reaching up to 2.90%, making them an ideal option for growing savings. By depositing a fixed amount for a specific tenure, you secure a guaranteed interest rate, often yielding better returns than regular savings accounts.

These tenures typically range from three months to two years, allowing flexibility to match your financial goals and saving preferences.

>> COMPARE: Check the best FD rates in Singapore

Singapore's interest rates are influenced by global trends rather than a domestic interest rate policy, as the Monetary Authority of Singapore (MAS) manages the Singapore Dollar against a basket of currencies. This makes U.S. Federal Reserve rate changes significant, as they often set the tone for global interest rates, impacting Singapore’s borrowing costs and inflation.

Competitive FD rates for now

Generally, FD rates in Singapore remain competitive as we step into 2025, offering savers an opportunity to lock in attractive returns for 2.50% to 2.90% per annum.

Short-term tenures, such as six to 12 months, are particularly popular among depositors looking for flexibility and decent yields. Meanwhile, longer-term FDs appeal to those seeking steady returns amidst economic uncertainties.

Industry analysts predict that while FD rates remain attractive now, they may gradually taper off if global central banks continue to ease interest rates. Savers in Singapore should consider locking in these high rates while they are still available, ensuring their funds grow securely over time.

2025 data highlight: 6-month term for the highest yield

Fixed deposit rates in Singapore showed a mixed trend from December 2024 to March 2025. The 3-month rate saw a notable decrease of 0.35%, while the 1-year rate dropped by 0.50%. In contrast, the 6-month rate remained stable, reflecting stability in mid-term deposits despite declines in shorter and longer tenures.

Best FD rates comparisons between December 2024 and March 2025

FD term

Dec 2024 highest rates

Mar 2025 highest rates

3 months

3% p.a.

2.65% p.a.

6 months

2.90% p.a.

2.90% p.a.

1 year

3.20% p.a.

2.75% p.a.

Methodology
See previous data through December 2024
Methodology
See previous data through November 2024
Methodology
See previous data through October 2024
Methodology
See previous data through September 2024
Methodology
See previous data through August 2024
Methodology

FD rate trends in 2025: focus on high-yield short-term gains

The FD rate forecast in Singapore for 2025 highlights a significant preference for short-term tenures over long-term commitments. 

While fixed deposit rates experienced an overall decline compared to late 2024, shorter terms like 3-month deposits are still attracting attention with relatively competitive rates. This shift suggests that banks are aligning with consumer behaviour that favours flexibility and quicker returns amidst a volatile economic landscape.

Short-term fixed deposit rates remain slightly higher than longer-term rates in certain cases, reversing the traditional trend where longer tenures typically yield higher returns.

This unusual pattern can be attributed to banks offering attractive short-term rates to secure liquidity, making them a viable option for those who prefer low-risk investments without a long-term commitment.

This trend reflects a unique opportunity for savers who value short-term planning and wish to capitalise on high-yield options without locking funds for extended periods.

Overview: high-yield and national FD rates in Singapore

Singapore's FD rates have seen notable shifts in 2025, presenting attractive options for those seeking low-risk investments. The national average FD rate in Singapore currently sits at approximately 2.53% p.a., making many of these high-yield offers from leading banks highly appealing.

As of March 2025, short-term FDs from major banks like ICBC, CIMB, Maybank, and HSBC offer competitive promotional rates ranging between 2.50% and 2.90% per annum for three- to six-month tenures. Bank of China, Maybank, and Citibank have been particularly competitive in their short-term FD rates, aiming to capture savers seeking liquidity and flexibility.

Meanwhile, for those opting for longer-term FD, Maybank currently offers the highest long-term fixed deposit rates for 12-month terms at 2.70% p.a.

>> LEARN MORE: How FED interest rates affect borrowers in Singapore

Current promotional FD rates

As of 2025, Singapore's banks are offering enticing promotional FD rates to attract depositors amid economic shifts. These promotions often surpass national averages, giving savers an opportunity to secure higher returns.

Below are some of the highest current promotional FD rates in Singapore:

Bank

FD Rates

Tenure

Bank of China

2.50% p.a.

3 months

CIMB

2.45% p.a.

3 months

CitiBank

2.40% p.a.

3 & 6 months

DBS / POSB

2.45% p.a.

12 months

Hong Leong Finance

2.55% p.a.

9 & 10 months

HSBC

2.35% p.a.

6 months

ICBC

2.45% p.a.

3 months

Maybank

2.90% p.a.

6 months

OCBC

2.15% p.a.

9 months

RHB

2.50% p.a.

3 & 6 months

SBI

2.85% p.a.

6 months

Sing Investments & Finance LTD (SIF)

2.55% p.a.

3 months

Standard Chartered

2.20% p.a.

6 months

UOB

2.30% p.a.

6 months

Current FD rates: high interest rates by term

Current FD rates: 3-month

Bank

FD Rates

Bank of China

2.50% p.a.

CIMB & ICBC

2.45% p.a.

Sing Investments & Finance LTD (SIF)

2.55% p.a.

RHB

2.50% p.a.

>> MORE: Best alternatives to Fixed Deposit accounts in Singapore

Current FD rates: 6-month

Bank

FD Rates

Maybank

2.90% p.a.

SBI

2.85% p.a.

>> See More: 4 ways to use Fixed Deposits (You never knew about)

Current FD rates: 1-year

Bank

FD Rates

Maybank

2.70% p.a.

SBI

2.75% p.a.

>> See More: Fixed Deposits vs. Endowment plans vs. cash management accounts: Which should you choose?

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About the author

SingSaver Team

SingSaver Team

At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.