Interest rates have been all over the place of late. If you recall – in Jan the market was pricing in 7 interest rate cuts in 2024. With hot US inflation and latest comments from Powell, the market is now only pricing in 2 interest rate cuts in 2024. Despite all that, bank fixed deposit interest rates keep dropping. And yet the most recent 6-month T-Bills interest rates closed at 3.7% – significantly higher than most bank fixed deposits. 3 things I wanted to discuss today:

1. Best fixed deposit rates in Singapore today (May 2024)
2. Will interest rates go up or down in 2024?
3. Where to park your cash for yield / liquidity today – T-Bills, Fixed Deposit, Money Market Funds, Singapore Savings Bonds and Savings Accounts etc.

Best Fixed Deposit Rates yield 3.35% if you deposit directly with the bank (as of May 2024) The latest list of Fixed Deposit rates are set out below. To summarise, the best fixed deposit option if you deposit directly with the bank are:...