Banks usually offer higher promotional interest rates during Chinese New Year.
Standard Chartered Bank seems to be the first mover that launch its Chinese New Year 2017 Time Fixed Deposit promotion.
CIMB did not offer special interest rates for fixed deposits this year. Instead, they are giving away gift sets such as abalone and it is limited to a number of placements.
I shall update the table below when more subsequent banks introduce their Chinese New Year promotions.
2017 Fixed Deposit Promotions
| Bank | Interest Rate | Minimum Sum | Holding Period | Remarks |
| SCB | 1.15 % | S$25,000 | 7 months |
|
| 1.18 | S$25,000 | 7 months |
| |
| 1.25 % | S$25,000 | 10 months |
| |
| 1.28 % | S$25,000 | 10 months |
| |
| CIMB | 1.25 % | S$38,000 | 12 months |
|
| 1.30 % | S$100,000 | 12 months |
|
Even after the fed rate rise, the interest rates are still so low. 🙁
Hi SgDividends, I agree and personally I think Banks are being very conservative on Time deposit interest rates.
Very interesting but for only up to 1.3% interest is it really worth the time and tying up that capital? It depends on your risk tolerance I guess.
Hi Buy, Hold Long, it really depends on individual. May be a form of risk diversification for some.
CIMB abalone all redeemed except for highest tier