Fixed deposits are also known as time deposits. They are a popular investment option where you deposit a sum of money with a bank for a specified duration. The money is locked in for the specified period, which can range from a few months to several years. In return, the bank guarantees you a fixed interest rate on your deposit.
Fixed deposits are considered low-risk investments because they are practically risk-free. They are considered a safe investment option as they offer guaranteed returns and are not subject to market fluctuations. The interest earned on a fixed deposit is usually higher than that earned on a regular savings account, making it an attractive choice for individuals looking to grow their savings in a secure manner.
Your deposits are insured by the Singapore Deposit Insurance Corporation (SDIC) for up to S$75,000. Thus, fixed deposits are an excellent place to store your emergency funds due to their safety and guaranteed returns.
Many years ago, SORA has replaced the Singapore Interbank Offered Rate (SIBOR), and Swap Offer Rate (SOR) as the key interest rate benchmark for Singapore dollar (S$) interest rate contracts. SORA is calculated and administered by the Monetary Authority of Singapore (MAS). It is published as a daily rate and a series of 1-month, 3-month and 6-month compounded rates on the MAS website.
While SORA is a key benchmark, fixed deposit rates are not directly pegged to it in a simple way. Banks determine their own base interest rates, which may be influenced by overall market interest rate trends that SORA reflects.
Below, I shall share the best fixed deposits offered by Singapore Banks – DBS, OCBC and UOB for each month. I shall also include the fixed deposits offered by other popular banks such as CIMB, MayBank2U, Bank of China (BOC), Citibank.
Find out more below on my posts on the best fixed deposits in Singapore!
Best Fixed Deposit in September 2025
Highest Fixed Deposit Rates in August 2025
DBS Foreign Currency Fixed Deposit Rates in July 2025
POSB Interest Rate Fixed Deposit: Maximize Your Returns
Best Fixed Deposit Rates in July 2025
Best Fixed Deposit Rates in June 2025
Bank of China Time Deposit Rate in May 2025
Citibank Fixed Deposit Interest Rates in May 2025
Where Will I Deposit 80K in May 2025?
Best fixed deposit rates in May 2025
Best Fixed Deposit Rates in April 2025