CIMB Bank 6 Months Fixed Deposit Promotion May 2016

CIMB Fixed Deposit Promotion May 2016

CIMB Bank is having a fixed SGD deposit promotion in the month of May. The promotion is only valid from 1st May 2016 to 31st May 2016. Enjoy 1.60% interest rate for only a 6 month tenure. Personally feel that this is pretty attractive given the short period of 6 months.

If you put S$20,000 for 6 months at an interest rate of 1.6% per annum, the interest amount you get is S$160.

12 months 6 months
S$20,000 and above 1.75 1.60
S$100,000 and above
(CIMB Preferred customers only)
1.80 1.65

Chinese New Year 2016 Fixed Deposit Promotions

Fixed Deposit CNY 2016

Chinese New Year 2016 is approaching soon. Every year this time, banks will offer promotional fixed deposit rates.

Last year, I placed my money with POSB for 12 months at a promotional interest rate of 1.88 percent. I also got the S$88 lucky Ang Bao (“red packet”) that was offered for the first 10,000 customers.

Personally, I felt that the promotional interest rates this year was not fantastic and in fact, most banks are offering lower interest rates as compared to last year. If you compare it with the Singapore Savings Bonds, the interest rate look even worst.

February Singapore Savings Bonds offer an interest rate of 2.5% over 10 years with no lock in period. However, we know there are many factors to consider besides the interest rate. For example, you need to compare against the holding period between a bond and fixed deposit. Below is the summary of the promotions I found. Read More