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The best fixed deposit rates November 2026 in Singapore have taken a clear step up, with four banks now offering 12-month promotional rates at or above 2.30% per annum. After several months where most promotions hovered in the 1.60% to 1.95% range, November is the first month in a long while where savers can lock in a fixed deposit that comfortably clears the 2% mark without needing to buy an insurance policy or an investment product.
For anyone new to them, fixed deposits (also called time deposits) work by placing a sum of money with a bank for a fixed tenure, usually between three and twelve months, in exchange for a guaranteed interest rate. Your money is locked in until maturity, but your return is known on day one and does not move with the stock market. As with every month, I pulled every rate below directly from each bank’s own official rates or promotions page rather than from a third-party comparison site, so you can click on each bank heading and verify the numbers yourself.
The headline story this month is that RHB, CIMB and Maybank have all raised their rates meaningfully, Hong Leong Finance has launched a special 8-month promotion at 2.08% per annum, and OCBC has quietly overtaken UOB as the best of the three local banks. Standard Chartered is the only bank in my list that trimmed its promotional rate.
UOB Fixed Deposit Rates
UOB has rolled its promotion over unchanged for November 2026. The promotion runs from 1 to 30 November 2026 and is only available through the UOB TMRW app with a minimum of S$10,000 in fresh funds. The top rate remains 1.70% per annum for 12 months. Do note that UOB pays no interest at all if you withdraw before maturity, and the 12-month board rate it renews into is only 1.00% per annum, so set a reminder before your deposit matures.
Tenure: 6 months
Interest Rate: 1.60% per annum
Minimum Amount: S$10,000 (fresh funds)
Tenure: 10 months
Interest Rate: 1.65% per annum
Minimum Amount: S$10,000 (fresh funds)
Tenure: 12 months
Interest Rate: 1.70% per annum
Minimum Amount: S$10,000 (fresh funds)
OCBC Bank Fixed Deposit Rates
OCBC has lifted its 12-month rate by 0.20% per annum compared with October, which makes it the most generous of the three local banks this month. Online placements through the OCBC app or Internet Banking continue to earn slightly more than branch placements. The minimum is S$20,000 in fresh funds. OCBC Premier Banking customers get a further 0.05% per annum on top, bringing the 12-month online rate to 1.90% per annum for that group.
Tenure: 6 months
Interest Rate: 1.50% per annum (Branch) / 1.55% per annum (Online)
Minimum Amount: S$20,000 (fresh funds)
Tenure: 12 months
Interest Rate: 1.80% per annum (Branch) / 1.85% per annum (Online)
Minimum Amount: S$20,000 (fresh funds)
DBS Fixed Deposit Rates
Nothing has changed at DBS. The 8- to 12-month tenures pay 1.00% per annum on balances between S$1,000 and S$19,999, but the rate collapses to 0.05% per annum once your total SGD fixed deposit balance reaches S$20,000. That last point is important: DBS works out your tier using the combined balance of all your placements in the account, not each placement separately. I explain this in more detail in my DBS Fixed Deposit Rate guide.
Tenure: 8 to 12 months
Interest Rate: 1.00% per annum
Minimum Amount: S$1,000 to S$19,999
POSB Fixed Deposit Rates
POSB is part of DBS, so its fixed deposit board rates are identical: 1.00% per annum for 8 to 12 months on S$1,000 to S$19,999, falling to 0.05% per annum from S$20,000 onwards. Customers aged 55 and above can earn an extra 0.10% per annum on top of the board rate through the Premier Income Account, provided each placement is at least S$10,000 for six months or longer, although at 1.10% per annum this is still well behind the promotions elsewhere.
Tenure: 8 to 12 months
Interest Rate: 1.00% per annum
Minimum Amount: S$1,000 to S$19,999
Standard Chartered Bank Fixed Deposit Rates
Standard Chartered is running another short promotional window, this time from 3 to 11 November 2026, and only on the 12-month tenure. Rates are lower than in October by between 0.10% and 0.15% per annum depending on your banking tier. A minimum of S$25,000 in fresh funds is required, and Standard Chartered defines fresh funds strictly: the money must not come from an existing Standard Chartered account, and it must not have been withdrawn and re-deposited within the last 30 days.
Tenure: 12 months
Interest Rate: 1.60% per annum (Personal Banking) / 1.70% per annum (Priority Banking) / 1.80% per annum (Priority Private)
Minimum Amount: S$25,000 (fresh funds)
CIMB Bank Fixed Deposit Rates
CIMB delivered one of the biggest jumps this month. From 4 November 2026, its online SGD fixed deposit promotion pays 2.30% per annum for 12 months for Personal Banking customers and 2.35% per annum for Preferred Banking customers, up from 1.95% per annum in October. The 6-month and 9-month tenures have also been lifted to 2.20% per annum. What makes CIMB stand out is the low entry point of just S$10,000, which is half of what RHB and Maybank require.
CIMB is also running its Why Wait Fixed Deposit-i, an Islamic deposit that pays the same Personal Banking rates but credits your profit upfront instead of at maturity. For placements of fresh funds for 12 months made between 1 and 30 November 2026, CIMB adds an S$88 cash credit for every S$100,000 placed, capped at S$176 per account.
Tenure: 3 months
Interest Rate: 1.35% per annum (Personal Banking) / 1.40% per annum (Preferred Banking)
Minimum Amount: S$10,000
Tenure: 6 months or 9 months
Interest Rate: 2.20% per annum (Personal Banking) / 2.25% per annum (Preferred Banking)
Minimum Amount: S$10,000
Tenure: 12 months
Interest Rate: 2.30% per annum (Personal Banking) / 2.35% per annum (Preferred Banking)
Minimum Amount: S$10,000
Hong Leong Finance Fixed Deposit Rates
Hong Leong Finance is celebrating its 65th anniversary with refreshed rates published on 23 October 2026. The standout is a new special 8-month promotion at 2.08% per annum for a minimum of S$20,000 in fresh funds, available both at branches and online. Its regular 6-, 9- and 12-month promotions have also been raised by about 0.20% per annum, with the top rate now at 1.90% per annum for 12 months. As a bonus, customers who place fresh funds in selected promotions receive a limited-edition “Ray” Dragon collectible while stocks last, and the bank itself warns that some branches have already run out.
Special Promotion (Branch and Online, S$20,000 and above in fresh funds): 8 months at 2.08% per annum
Branch Promotion (S$20,000 to under S$100,000): 6 months at 1.65%, 9 months at 1.70%, 12 months at 1.80% per annum
Branch Promotion (S$100,000 and above): 6 months at 1.75%, 9 months at 1.80%, 12 months at 1.90% per annum
Online Promotion via HLF Digital (S$5,000 to under S$20,000): 6 months at 1.55%, 9 months at 1.60%, 12 months at 1.70% per annum
Online Promotion via HLF Digital (S$20,000 and above): 6 months at 1.75%, 9 months at 1.80%, 12 months at 1.90% per annum
RHB Bank Fixed Deposit Rates
RHB keeps its spot at the top of the table and has widened the gap. Every tenure has gone up by 0.40% to 0.50% per annum since October. Personal Banking customers now earn 2.30% per annum for 12 months, while Premier Banking customers earn 2.40% per annum. To qualify for Premier, you need a Total Relationship Balance of S$200,000 across your RHB deposits and investments. The minimum placement is S$20,000, and placements can be made at any RHB branch or through the RHB Mobile SG app. A nice touch is that RHB states there is no premature withdrawal penalty fee on SGD fixed deposits, although you should still expect to lose the promotional interest if you break the deposit early.
If you are already planning to buy an insurance plan, unit trust, bond or structured product, RHB’s separate Wealth-Fixed Deposit Bundle pays up to 2.50% per annum. I would not buy a wealth product just to unlock that extra 0.10% to 0.20% per annum, though.
Tenure: 3 months
Interest Rate: 1.90% per annum (Personal Banking) / 2.00% per annum (Premier Banking)
Minimum Amount: S$20,000
Tenure: 6 months
Interest Rate: 2.10% per annum (Personal Banking) / 2.20% per annum (Premier Banking)
Minimum Amount: S$20,000
Tenure: 12 months
Interest Rate: 2.30% per annum (Personal Banking) / 2.40% per annum (Premier Banking)
Minimum Amount: S$20,000
Maybank Singapore Fixed Deposit Rates
Maybank refreshed both of its promotions from 23 October 2026. The standalone Time Deposit now pays 2.10% per annum for 6 months and 12 months, and 1.90% per annum for 9 months, with a minimum of S$20,000 and no bundling requirement. The Deposits Bundle Promotion advertises a higher 2.40% per annum for 12 months, but you must also deposit fresh funds equal to 10% of your time deposit into a Maybank savings or current account, where that money is held for the same tenure and earns very little. Maybank itself calculates the blended effective rate at 2.19% per annum for 12 months on a S$100,000 placement, which is only slightly better than its own standalone rate.
Standalone Time Deposit: 6 months at 2.10%, 9 months at 1.90%, 12 months at 2.10% per annum
Minimum Amount: S$20,000
Deposits Bundle Promotion: 9 months at 2.25% (2.05% effective), 12 months at 2.40% (2.19% effective) per annum
Minimum Amount: S$20,000, plus 10% of the deposit earmarked in a Maybank savings or current account
Bank of China Fixed Deposit Rates
Bank of China updates its mobile banking time deposit rates every week, and the rates below apply to new placements made through the BOC Mobile Banking app from 2 to 9 November 2026. The S$20,000 tier has improved since early October, with the 12-month rate rising from 1.90% to 2.10% per annum. However, the separate S$200,000 tier for 6- to 12-month tenures no longer appears on the latest rate sheet, and the new-to-bank promotion of up to 2.18% per annum ended on 31 October. The real bright spot for smaller savers is that Bank of China still pays 1.70% per annum on as little as S$500.
Tenure: 3 months
Interest Rate: 1.60% per annum (S$500) / 1.70% per annum (S$20,000)
Tenure: 6 months or 9 months
Interest Rate: 1.70% per annum (S$500) / 2.05% per annum (S$20,000)
Tenure: 12 months
Interest Rate: 1.70% per annum (S$500) / 2.10% per annum (S$20,000)
What Changed From October 2026
Comparing this month against my Best Fixed Deposit Rates October 2026 roundup, the direction is clearly upwards. RHB’s 12-month Personal Banking rate went from 1.90% to 2.30% per annum. CIMB’s 12-month rate went from 1.95% to 2.30% per annum. Maybank’s standalone 12-month rate went from 1.85% to 2.10% per annum. OCBC’s 12-month online rate went from 1.65% to 1.85% per annum, and Hong Leong Finance’s top 12-month rate went from 1.70% to 1.90% per annum.
On the other side, UOB, DBS and POSB stayed exactly where they were, and Standard Chartered cut its Personal Banking rate from 1.70% to 1.60% per annum. Banks rarely explain why they move their promotional rates, so I would not read too much into any single month. What matters for you as a saver is simply that the best fixed deposit rates November 2026 are noticeably higher than what was available a month ago, and that promotions like these can be withdrawn or reduced at any time.
Best Fixed Deposit Rates November 2026: Which Bank Offers the Best Fixed Deposit in Singapore?
The table below summarises the best fixed deposit rates November 2026 by bank, showing the highest rate each one offers this month together with the tenure and minimum amount needed to get it.
| Bank | Top Rate (per annum) | Tenure | Minimum Amount |
|---|---|---|---|
| RHB (Premier Banking) | 2.40% | 12 months | S$20,000 (S$200,000 relationship balance) |
| Maybank (Deposits Bundle) | 2.40% (2.19% effective) | 12 months | S$20,000 plus 10% earmarked |
| CIMB (Preferred Banking) | 2.35% | 12 months | S$10,000 |
| RHB (Personal Banking) | 2.30% | 12 months | S$20,000 |
| CIMB (Personal Banking) | 2.30% | 12 months | S$10,000 |
| Bank of China | 2.10% | 12 months | S$20,000 |
| Maybank (Standalone) | 2.10% | 6 or 12 months | S$20,000 |
| Hong Leong Finance | 2.08% | 8 months | S$20,000 (fresh funds) |
| OCBC (Online) | 1.85% | 12 months | S$20,000 (fresh funds) |
| Standard Chartered (Priority Private) | 1.80% | 12 months | S$25,000 (fresh funds) |
| UOB | 1.70% | 12 months | S$10,000 (fresh funds) |
| DBS and POSB | 1.00% | 8 to 12 months | S$1,000 to S$19,999 |
Highest overall rate: RHB Premier Banking at 2.40% per annum for 12 months. If you already have S$200,000 with RHB, this is the simplest way to earn the highest rate on my list.
Best without a premium banking tier: RHB Personal Banking and CIMB Personal Banking are tied at 2.30% per annum for 12 months. I would lean towards CIMB if you have between S$10,000 and S$20,000, since RHB needs at least S$20,000 per placement.
Best for a shorter tenure: CIMB at 2.20% per annum for 6 months, followed by RHB and Maybank at 2.10% per annum. For a slightly unusual tenure, Hong Leong Finance’s 8-month promotion at 2.08% per annum is also worth a look.
Best local bank: OCBC at 1.85% per annum for 12 months when placed online, ahead of UOB at 1.70% per annum.
Best for smaller deposits: Bank of China at 1.70% per annum for 6, 9 or 12 months from just S$500 via its mobile app. This beats the DBS and POSB rate of 1.00% per annum, which is the more familiar option for many first-time savers.
To put these numbers into perspective, a S$50,000 deposit at 2.30% per annum for 12 months earns about S$1,150 in interest. The same amount at UOB’s 1.70% per annum earns about S$850, while leaving it in a DBS fixed deposit at 0.05% per annum earns only about S$25. Shopping around clearly pays.
Fixed Deposits Versus T-Bills and Singapore Savings Bonds
Fixed deposits are not the only safe place for spare cash. The most recent 6-month Singapore Government T-bill, BS26122V, cut off at 1.86%, which is now lower than the 6-month promotions at CIMB, RHB and Maybank. Singapore Savings Bonds remain attractive for flexibility, with SBDEC26 offering an average return of 2.39% over ten years and the ability to redeem in any month without penalty.
In practice, I see these three instruments as complements rather than competitors. Fixed deposits offer the best guaranteed rate this month for a 6- to 12-month horizon, Singapore Savings Bonds offer flexibility over a longer horizon, and T-bills are useful when bank promotions dry up. None of them replaces the long-term growth I aim for with the dividend stocks in my stock portfolio, but they are an excellent home for an emergency fund or money earmarked for a purchase within the next year.
Things to Check Before You Place a Fixed Deposit
First, check whether the promotion requires fresh funds. UOB, OCBC, Standard Chartered, Hong Leong Finance’s special promotion and Maybank’s bundle all do, which means moving money that is already sitting with that bank will not qualify. If you want to use these promotions, you will usually need to transfer money in from another bank.
Second, plan to hold the deposit until maturity. Promotional rates generally only apply if you do not withdraw early, and some banks, such as UOB, pay nothing at all on early withdrawal. Third, watch the renewal. Most fixed deposits roll over automatically at the prevailing board rate, which can be dramatically lower than the promotional rate. CIMB’s 12-month board rate, for example, is only 0.30% per annum, so it is worth updating your maturity instructions or setting a calendar reminder.
Finally, remember deposit insurance. Singapore dollar deposits are insured by the Singapore Deposit Insurance Corporation for up to S$100,000 per depositor per Scheme member. If you have more than S$100,000 to place, spreading it across two or more banks keeps all of it protected and also lets you pick the best rate at each one.
To sum up, the best fixed deposit rates November 2026 are led by RHB at up to 2.40% per annum and CIMB at up to 2.35% per annum, with Maybank, Bank of China and Hong Leong Finance all offering more than 2% as well. This is the strongest month for fixed deposit savers that I have seen in quite some time, so if you have idle cash, November is a good month to lock some of it in. For the full, continuously updated comparison across all tenures and every bank I track, see my Best Fixed Deposit Rates in Singapore page.
If you found this comparison of the best fixed deposit rates November 2026 helpful, do consider subscribing to my blog to keep receiving practical, data-driven ideas on where to park your money for better returns.
Disclaimer: This is not a sponsored post, and the opinions are solely based on My Sweet Retirement’s own research. All rates cited are sourced directly from each bank’s official rates and promotions pages as of 9 November 2026 and are subject to change without notice. Please verify directly with the respective banks before making any deposit decisions.