Best Fixed Deposit Rates in July 2025

Are you looking for the best fixed deposit rates in July 2025? Despite falling fixed deposit interest rates across all banks, there are still a few banks that offered higher and attractive fixed deposit interest rates as compared to other banks. The returns offered by latest issue of Singapore Savings Bond was lacklustre as well. In this post, I will share the best fixed deposit rates that I found in Singapore.

If you had observed, the SORA has been on the downtrend over the past 3 months. While SORA is a key benchmark, I wanted to share that fixed deposit rates are not directly pegged to it in a simple way. Banks determine their own base interest rates, which may be influenced by overall market interest rate trends that SORA reflects.

Do you know what is SORA? Many years ago, SORA has replaced the Singapore Interbank Offered Rate (SIBOR), and Swap Offer Rate (SOR) as the key interest rate benchmark for Singapore dollar (S$) interest rate contracts. SORA is calculated and administered by the Monetary Authority of Singapore (MAS). It is published as a daily rate and a series of 1-month, 3-month and 6-month compounded rates on the MAS website.

Do you know what are fixed deposits? Fixed deposits are sometimes also termed as time deposits. Fixed deposits or time deposits are a type of investment offered by banks and financial institutions where an individual deposits a sum of money for a fixed period of time at a pre-determined interest rate. The money is locked in for the specified period, which can range from a few months to several years.

Fixed deposits are considered a safe investment option as they offer guaranteed returns and are not subject to market fluctuations. The interest earned on a fixed deposit is usually higher than that earned on a regular savings account, making it an attractive choice for individuals looking to grow their savings in a secure manner.

Which Bank Offer the Best Fixed Deposit Rate in Singapore?

The popular Singapore banks are DBS, OCBC and UOB. What is UOB fixed deposit rates? Is DBS fixed deposit rates still the highest among the 3 local Singapore Banks? What about OCBC fixed deposit rates?

As usual, let us take a look at the interest rates offered by most of the Singapore Banks listed below. As usual, I have highlighted those rates in green whereby I think they offered the best value from each bank. At the end of this post, I shall share my opinion on which is the Best Fixed Deposit Rates in July 2025.

Bank of China Fixed Deposit Rates

The fixed deposit rates offered by Bank of China is complicated as the interest rates varies based on the tenure and whether you do the fixed deposit placement over the counter or via mobile banking. Based on the below latest Bank of China Fixed Deposit Rates, the 2 to 3 months tenure period is the most attractive up to 1.95% per annum.

Tenure: 1 month
Interest Rate: 1.60% p.a. (Over the counter) / 1.80% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)

Tenure: 2 months and 3 months
Interest Rate: 1.75% p.a. (Over the counter) / 1.95% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)

Tenure: 4 months
Interest Rate: 1.70% p.a. (Over the counter) / 1.90% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)

Tenure: 5 months
Interest Rate: 1.65% p.a. (Over the counter) / 1.85% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)

Tenure: 6 months
Interest Rate: 1.65% p.a. (Over the counter) / 1.85% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (Over the Counter or via Mobile Banking)

Tenure: 6 months
Interest Rate: 1.80% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 9 months
Interest Rate: 1.55% p.a. (Over the counter) / 1.75% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (Over the Counter) / S$500 and above (via Mobile Banking)

Tenure: 12 months
Interest Rate: 1.75% p.a. (via Mobile Banking)
Minimum Amount: S$20,000 and above (via Mobile Banking)

Tenure: 12 months
Interest Rate: 1.70% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Citibank Fixed Deposit Interest Rates

Tenure: 3 months or 6 months
Interest Rate: 1.80% p.a.
Minimum Amount: S$50,000 to S$3 million

In June, I made a fixed deposit placement of 12 months with DBS Bank as they offered the best fixed deposit rates in Singapore. I am glad that they maintained the same rates as June.

Tenure: 6 months
Interest Rate: 2.15% p.a.
Minimum Amount: S$1,000 to $$19,999

Tenure: 7 months
Interest Rate: 2.30% p.a.
Minimum Amount: S$1,000 to $$19,999

Tenure: 8 months or 9 months
Interest Rate: 2.35% p.a.
Minimum Amount: S$1,000 to $$19,999

Tenure: 10 months or 11 months
Interest Rate: 2.40% p.a.
Minimum Amount: S$1,000 to $$19,999

Tenure: 12 months
Interest Rate: 2.45% p.a.
Minimum Amount: S$1,000 to $$19,999

Hong Leong Finance Fixed Deposit Rates

Below is a special fixed deposit promotion only for new customers opening their first Fixed Deposit and Premium SAVER Account with fresh fund placement.

Tenure: 13 months
Interest Rate: 1.78% p.a.
Minimum Amount: S$20,000 and above

Below are Hong Leong Finance’s interest rates if you make a Fixed Deposit placement ONLINE via HLF Digital.

Tenure: 9 months
Interest Rate: 1.78% p.a.
Minimum Amount: S$5,000 to S$19,999

Tenure: 11 months and 13 months
Interest Rate: 1.73% p.a.
Minimum Amount: S$5,000 to S$19,999

Tenure: 9 months
Interest Rate: 1.83% p.a.
Minimum Amount: S$20,000 and above

Tenure: 11 months and 13 months
Interest Rate: 1.78% p.a.
Minimum Amount: S$20,000 and above

Below are Hong Leong Finance’s interest rates if you make a placement at the branch.

Tenure: 9 months
Interest Rate: 1.75% p.a.
Minimum Amount: S$20,000 to S$49,999

Tenure: 11 months and 13 months
Interest Rate: 1.70% p.a.
Minimum Amount: S$20,000 to S$49,999

Tenure: 9 months
Interest Rate: 1.80% p.a.
Minimum Amount: S$50,000 and above

Tenure: 11 months and 13 months
Interest Rate: 1.75% p.a.
Minimum Amount: S$50,000 and above

RHB Bank Fixed Deposit Rates

Tenure: 3 months or 6 months
Interest Rate: 1.80% p.a. (Personal Banking) / 1.90% p.a. (Premier Banking)
Minimum Amount: S$20,000

Tenure: 12 months
Interest Rate: 1.60% p.a. (Personal Banking) / 1.70% p.a. (Premier Banking)
Minimum Amount: S$20,000

MayBank2u Singapore Fixed Deposit Rates

Tenure: 6 months
Interest Rate: 1.90% p.a. (Placement online, via Maybank2u Online Banking, Maybank2u SG app or in branch) / 1.60% (iSAVvy Time Deposit via Internet Banking)
Minimum Amount: S$20,000

Tenure: 9 months
Interest Rate: 2.00% p.a. (Placement online, via Maybank2u Online Banking, Maybank2u SG app or in branch) / 1.70% (iSAVvy Time Deposit via Internet Banking)
Minimum Amount: S$20,000

Tenure: 12 months
Interest Rate: 2.05% p.a. (Placement online, via Maybank2u Online Banking, Maybank2u SG app or in branch) / 1.75% (iSAVvy Time Deposit via Internet Banking)
Minimum Amount: S$20,000

Best Fixed Deposit Rates in July 2025

Similar to previous months, the interest rates for shorter term fixed deposits are more favourable than longer term fixed deposits. This makes sense as the current market is volatile, and interest rates are unpredictable. Banks would offer higher interest rates for short term deposits.

I am excited as DBS Singapore continued to offer the highest fixed deposit interest rate at 2.45% per annum for a 12-months tenure. The next best contender goes to MayBank2u Singapore where the bank is offering 2.05% per annum for their Time deposit bundle promotion.

If you want to compare the fixed deposit rates offered by the 3 Singapore banks (DBS, OCBC or UOB), UOB fixed deposit rate is more competitive at 1.75% per annum for a 6-month placement than OCBC.

Where is the best place to park your money? If you have 100K, you should grab the opportunity and stash 20K into DBS Singapore 12-month Fixed Deposit at 2.45% per annum. For the remaining 80K, consider stashing them into any high interest savings accounts.

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Disclaimer: This is Not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research and opinion.