CIMB SGD Fixed Deposit Account offers you up to 4.20% p.a. on your 18 month placement in December 2022. Many years back, I opened a savings account with CIMB as the bank often offered the best fixed deposit rates in Singapore.
I have previously done 2 placements with CIMB. I thought the fixed deposit interest rates were already very high but it went higher and higher each month.
Now, let us take a look at the fixed deposit rates CIMB is offering in December 2022.
| Tenure | Personal Banking Online Promo Interest Rate (% P.A.) $10,000 and Above | Preferred Banking Online Promo Interest Rate (% P.A.) $10,000 and Above |
| 6 months | 3.95 | 4.00 |
| 9 months | 4.05 | 4.10 |
| 12 months | 4.15 | 4.20 |
| 18 months | 4.15 | 4.20 |
CIMB SGD Fixed Deposit versus DBS Bank Fixed Deposit
Many readers had feedback that DBS Bank offers better fixed deposit rates. Let us take a look at the rates that can be found at DBS Bank’s website.
I have circled the interest rates offered at 6, 9, 12 and 18 months.
For easier comparison, I have places the interest rates side by side below.
| Tenure | CIMB Personal Banking Online Promo Interest Rate (% P.A.) $10,000 and Above | DBS Bank Interest Rate (%P.A.) S$10,000 to S$19,999 |
| 6 months | 3.95 | 2.90 |
| 9 months | 4.05 | 3.10 |
| 12 months | 4.15 | 3.20 |
| 18 months | 4.15 | 3.20 |
CIMB Bank SGD Fixed Deposit is the clear winner here.
CIMB SGD Fixed Deposit versus Singapore Savings Bonds (SBJAN23 GX23010Z)
If you hold the latest issue of Singapore Savings Bond (SBJAN23 GX23010Z) for 2 years, the average return per year is 2.95%.
This may not be an apple to apple comparison but if we look at 12 months placement with CIMB Bank, you get a return of 4.15% p.a.
| Year from issue date | Interest % | Average return per year %* |
| 1 | 2.95 | 2.95 |
| 2 | 2.95 | 2.95 |
In my opinion, CIMB Bank SGD Fixed Deposit is also a clear winner here against Singapore Savings Bonds.
Summary of CIMB SGD Fixed Deposit offers up to 4.20% p.a.
To be honest, there is no reason to miss out such a good deal right? I shall be opting for the CIMB SGD Fixed Deposit placement of 12 months at the interest rate of 4.15% p.a.
This is also my third tranche fixed deposit placement with CIMB Bank. I hope to become a preferred customer in the future to enjoy the higher rates.