16 January 2013

The Best SGD Fixed Deposit Singapore 2013 - JAN

If you are looking for the best fixed / time deposit in Singapore 2013 - January, maybe this summary can help you:

So which one is the best fixed / time deposit for Singapore Dollar - January 2013.  from the table above you can see that the ANZ even though has the highest but it's a step up time deposit meaning the interest rate increases every 3 month so if you calculated the effective interest rate for 12 months = 0.91% with  flexibility that you can withdraw your deposit every cycle (3 months). 

My pick would be the Standard Chartered Step up time deposit with effective interest at 1.13%, with higher interest compared to ANZ at the first 3 and 6 months with the same flexibility that you can withdraw your deposit every 3 months.  

Here are the links to each bank: 

If you found any better recommendation do let us know in the comment below :]

updated: 21 Jan 2013
apparently Maybank (click here for the link) has a better offer if you deposit your money more than 18 months with them:
Tenure12 months18 months24 months36 months
Interest Rates (% p.a.)1.101.301.451.60

with this savings you'll get a flat 1.6% pa if you lock in your money for 3 years.

My recommendation still pointing to Standard Chartered Step up Time Deposit because of the flexibility of the withdrawal. But if you don't care about the flexibility and liquidity you can take even the 18 months which yield the highest time deposit in Singapore right now.

  1. the highest FD rate in Singapore now is 1.15% p.a.



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