Guide to best fixed deposit interest rate in Singapore [October 2022]
By Beansprout • October 3, 2022
Banks in Singapore have introduced higher interest rates on deposits and fixed deposits recently.The best 1 year fixed deposit rate we found was 2.90% offered by UOB. The best 6 month fixed deposit rate was 2.45% per annum.The recent interest rates on the Singapore Treasury bill (T-bill) have been higher than the best fixed deposit rates offered by banks in Singapore. The minimum investment amount for the Singapore T-bill of S$1,000 is lower too.However, there is no guarantee that the interest rate on the T-bill will remain as attractive. Also, you could lose some of your capital invested in the T-bill if you decide to sell your T-bill before maturity. Since my last article on the UOB One account, some of you have asked where else is good to put your money. The Telegram community has shown keen interest in these three instruments – Fixed Deposits, Singapore 6-month T-Bill...