Best Fixed Deposit Rates in March 2026

Below are the best fixed deposit rates in Singapore for March 2026. With global markets rattled by the sudden escalation of conflict between the US and Iran, investors have been flocking to safer assets such as fixed deposits, Singapore Savings Bonds, and Treasury Bills. Even though interest rates have been trending downward, there are still attractive fixed deposit promotions available for savers who know where to look.

In an environment where returns are steadily declining, securing competitive yields has become increasingly challenging. That is exactly why I track and compare Singapore’s fixed deposit rates every month to help you stay informed, navigate changing market conditions, and maximise your savings with the most rewarding options available.

Fixed deposits (also known as time deposits) are one of the simplest and safest ways to grow your money. You place a fixed sum with a bank for a set tenure ranging from a few months to several years and earn a guaranteed interest rate. Your funds are locked in for the duration, but in exchange, you enjoy stable, predictable returns that are shielded from market volatility. This makes fixed deposits ideal for conservative investors or anyone looking to park idle cash securely while earning more than a regular savings account.

Which Local Bank Offer the Best Fixed Deposit in Singapore?

When it comes to fixed deposits, the three major local banks DBS, OCBC, and UOB are often top of mind. But which one currently offers the most competitive rate? Is DBS still leading the pack, or have UOB and OCBC adjusted their offerings to stay in the race?

Each month, I review the latest fixed deposit rates across Singapore’s banks to identify the best options for growing spare cash securely. With interest rates fluctuating, it is more important than ever to compare offers and lock in favourable returns.

To help you make an informed decision, I have compiled the latest fixed deposit rates from DBS, OCBC, and UOB. In the comparison below, I have highlighted the rates that offer the best value from each bank so you can quickly spot the most attractive choices.

This month, UOB maintained their fixed deposit interest rates at 1.20% per annum for a 6-months tenure with a minimum deposit of $10,000. OCBC’s latest fixed deposit rates offer a simple structure with slightly higher returns for customers who place their deposits online. For a 12‑month tenure, the bank provides 1.05% p.a. when the placement is made at an OCBC branch, while Internet Banking users enjoy a marginally better 1.10% p.a., with a minimum deposit of S$30,000. The 18‑month option follows the same pattern: 1.10% p.a. at branches and 1.15% p.a. online, also requiring at least S$30,000.

DBS offers a straightforward set of fixed deposit rates for smaller deposit amounts, with minimum placements starting from just S$1,000 and capped at S$19,999. The 6‑month tenure provides an interest rate of 0.80% p.a., while opting for a slightly longer 7‑month placement raises the return to 0.95% p.a. For those willing to lock in their funds for 8 to 12 months, DBS offers a flat 1.00% p.a., making the longer tenures the most rewarding within this tier.

Among the 3 local banks, I would say that UOB offers the highest fixed deposit interest rates.

In December 2025, DBS reduced its 8 to 12 months fixed deposit interest rates drastically to 1.00% per annum. Since January 2026, the fixed deposit rates offered by DBS remained unchanged.

Tenure: 6 months
Interest Rate: 0.80% p.a.
Minimum Amount: S$1,000 to $$19,999

Tenure: 7 months
Interest Rate: 0.95% p.a.
Minimum Amount: S$1,000 to $$19,999

Tenure: 8 to 12 months
Interest Rate: 1.00% p.a.
Minimum Amount: S$1,000 to $$19,999

CIMB Bank Fixed Deposit Rates

In March 2026, CIMB is offering attractive fixed deposit interest rates of up to 1.35% for a 6-month or 12-month fixed deposit placement.

Tenure: 3 months
Interest Rate: 1.25% p.a. (Personal Banking) / 1.30% p.a. (Preferred Banking)
Minimum Amount: S$10,000

Tenure: 6 months
Interest Rate: 1.30% p.a. (Personal Banking) / 1.35% p.a. (Preferred Banking)
Minimum Amount: S$10,000

Tenure: 9 months
Interest Rate: 1.10% p.a. (Personal Banking) / 1.15% p.a. (Preferred Banking)
Minimum Amount: S$10,000

Tenure: 12 months
Interest Rate: 1.30% p.a. (Personal Banking) / 1.35% p.a. (Preferred Banking)
Minimum Amount: S$10,000

Hong Leong Finance Fixed Deposit Rates

Hong Leong Finance is offering a Hari Raya fixed deposit promotion with attractive fixed deposit interest rates of 1.20% for a 5-month or 6-month fixed deposit placement.

Tenure: 5 months or 6 months
Interest Rate: 1.20% p.a.
Minimum Amount: S$20,000 and above

Tenure: 9 months or 12 months
Interest Rate: 1.15% 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: 5 months, 6 months, 9 months or 12 months
Interest Rate: 1.20% p.a.
Minimum Amount: S$5,000 to S$19,999

Tenure: 5 months or 6 months
Interest Rate: 1.25% p.a.
Minimum Amount: S$20,000 and above

Tenure: 9 months or 12 months
Interest Rate: 1.20% p.a.
Minimum Amount: S$20,000 and above

RHB Bank Fixed Deposit Rates

RHB Bank’s fixed deposit rates offer a clear tiered structure that rewards both tenure and banking relationship. For shorter commitments, the 3‑ and 6‑month placements provide 1.20% p.a. for Personal Banking customers, while Premier Banking clients enjoy a slightly higher 1.30% p.a., with both options requiring a minimum deposit of S$20,000. Those looking for a longer lock‑in can opt for the 12‑month tenure, which offers 1.25% p.a. under Personal Banking and a more attractive 1.35% p.a. for Premier Banking.

Tenure: 3 months or 6 months
Interest Rate: 1.20% p.a. (Personal Banking) / 1.30% p.a. (Premier Banking)
Minimum Amount: S$20,000

Tenure: 12 months
Interest Rate: 1.25% p.a. (Personal Banking) / 1.35% p.a. (Premier Banking)
Minimum Amount: S$20,000

MayBank2u Singapore Fixed Deposit Rates

Maybank2u Singapore’s latest fixed deposit offerings provide two clear pathways depending on whether customers prefer a bundled promotion or a standalone placement. The Deposits Bundle Promotion offers a higher return of 1.45% p.a. for 9 or 12‑month tenures, with a minimum placement of S$20,000, available both online and at branches. For those opting for a straightforward time deposit without bundling, Maybank’s standalone Time Deposit and Term Deposit‑i provide a flat 1.30% p.a. across 6, 9, and 12‑month options, also requiring a minimum of S$20,000.

Tenure: 9 months or 12 months
Interest Rate: 1.45% p.a. Deposits Bundle Promotion (at branches and online)
Minimum Amount: S$20,000

Tenure: 6 months, 9 months or 12 months
Interest Rate: 1.30% p.a. (Standalone Time Deposit and Term Deposit-i (at branches and online)
Minimum Amount: S$20,000

Bank of China Fixed Deposit Rates

Bank of China’s latest fixed deposit promotions offer a straightforward range of short‑ to mid‑term tenures with competitive rates, especially for customers placing funds through Mobile Banking. Deposits start from as low as S$500, making them accessible for everyday savers. Rates begin at 1.10% p.a. for a 1‑month placement and gradually rise to 1.35% p.a. for a 6‑month tenure, with 3 and 5‑month options both offering 1.30% p.a. The 9‑month and standard 12‑month placements come in at 1.20% p.a. and 1.30% p.a. respectively. For those with larger balances, a premium 12‑month rate of 1.40% p.a. is available for deposits of S$200,000 and above.

Tenure: 1 month
Interest Rate: 1.10% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 2 months
Interest Rate: 1.20% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 3 months
Interest Rate: 1.30% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 5 months
Interest Rate: 1.30% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 6 months
Interest Rate: 1.35% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 9 months
Interest Rate: 1.20% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 12 months
Interest Rate: 1.30% p.a. (via Mobile Banking)
Minimum Amount: S$500 and above (via Mobile Banking)

Tenure: 12 months
Interest Rate: 1.40% p.a. (via Mobile Banking)
Minimum Amount: S$200,000 and above (via Mobile Banking)

Citibank Fixed Deposit Interest Rates

Tenure: 12 months
Interest Rate: 0.70% p.a.
Minimum Amount: S$10,000 to S$3,000,000

Best Fixed Deposit in March 2026

As I can see from the above, most banks kept the interest rates of their fixed deposit promotions the same as January 2026. Short-term deposits continue to favour over long-term deposits.

Similarly to 2025, short-term fixed deposits in 2026 continue to offer more attractive interest rates than longer-term options, a trend that mirrors previous months. This is understandable given the current market volatility and uncertainty around future rate movements. Banks are incentivized to offer higher yields for shorter commitments, allowing them to stay agile in a shifting rate environment.

This month’s issue of Singapore Savings Bond (SBAPR26) giving investors a return of 1.36% per annum if you hold it for one year. None of the interest rates offered by the above fixed deposit promotions can beat SBAPR26. Nevertheless, if you still prefer fixed deposit over Singapore Savings Bond, the interest rate offered by CIMB Bank and Maybank2U is the most attractive at 1.30% per annum for a 12-month placement.

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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.