I previously wrote about The Best Fixed Deposits of December 2019. The CIMB Fixed Deposit promotion came at the right time and I just made a SGD Fixed Deposit placement with CIMB today for 6 months. For a 6 months placement, you get an interest rate of 1.70% per annum. If you are interested in the above promotion of 1.80% per annum, you have to make a placement of 12 months. I am setting aside 15K in CIMB SGD Fixed Deposit for 6 months which earns me an interest of $127.50.

Why did I choose to make a fixed deposit placement? Basically, my son is going for an overseas school trip next year in June 2020. I am setting the money aside to fund for his travel expenses. The maturity of the deposit is just right at 6 months.

Here are a few reasons why I chose CIMB to make