It is extremely challenging to find good fixed deposit promotions this month as I can see banks either reducing the duration of the fixed deposit or keep on adjusting their interest rate. The 1 year interest rate for May 2020 Singapore Savings Bonds has fallen as low as 0.96%, thus any of the fixed deposits promotion below beats the Singapore Savings Bonds. Should the market crashes again, I believe banks will revise their interest rates again which happened last month.
I was extremely surprised that MayBank kept their interest rate for their fixed deposit at 1.45% per annum while I saw other banks slashing their interest rates to around 1.00% per annum.
If you have extra cash to lock in for 3 years, I will seriously request you to consider the NTUC Capital Plus single premium endowment plan which offers a guaranteed return of 2.13% p.a for 3 years....