Whether you’re looking for a place to park your U.S. Dollar (USD) or take advantage of the better interest rates in the U.S., USD Fixed Deposits are a great way to grow your foreign currency.
Source: Giphy
But like all investment products that deal with foreign currency, there are certain risks involved if you want the higher interest.
So here’s all you need to know about USD fixed deposits, including the best rates in town offered by local banks!
TL;DR: Best USD Fixed Deposit Rates Singapore (Sep 2023)
| Bank |
Highest Interest Rate (p.a.) |
Minimum Deposit |
Available Tenors |
| Bank of East Asia |
5.06% (board rate)
5.19% (tier rate) |
USD 10,000 (board rate)
USD 100,000 (tier rate) |
1 week, 1 month, 2 months, 3 months, 6 months, 12 months |
| CIMB |
5.10% |
USD 10,000 |
1 month, 3 months, 6 months, 12 months |
| Citibank |
7.5% |
USD 50,000 |
2 months |
| DBS |
5.21 |
S$5,000 equivalent |
1 month, 2 months, 3 months, 6 months, 12 months |
| Hong Leong Bank |
5.0165% |
USD 50,000 |
1 month, 3 months, 6 months, 12 months |
| HSBC |
4.20% |
USD 25,000 |
1 month, 3 months, 6 months, 12 months |
| ICBC |
4.85% |
USD 500 |
1 week, 1 month, 3 months, 6 months, 12 months |
| Maybank |
5.15% |
USD 10,000 |
1 month, 2 months, 3 months, 6 months |
...
