If you think the effective interest rate for August 2019 Singapore Savings Bonds is bad, this month is worse. The effective interest rate for September 2019 Singapore Savings Bonds (GX19090H) is 1.95% if you held it for 10 years. The interest rate is the lowest and the worst for the past 12 months. The minimum amount you can purchase for Singapore Savings Bonds is S$500. I am likely to skip this month issue of the Singapore Savings Bonds as the interest rate for 1 year is 1.65% which is lower than what fixed deposit offers (Read more: The Best Fixed Deposits of July 2019).

Currently, CIMB Fast Fixed Deposit offers a fixed deposit interest rate of 1.75% p.a. for 3 months period. CIMB Fast Fixed Deposit also offers an interest rate of 1.85% p.a. for a 12 months period. However, there is a minimum placement of S$10,000 required and only