Highest Fixed Deposit Rate Singapore 2026: Which Bank Pays the Most?

Updated November 2026  ·  Rates verified against official bank sources

Quick Answer: What Is the Highest FD Rate Right Now?

As at November 2026, the highest fixed deposit rate in Singapore for most depositors is 2.10% p.a. for a 12-month tenure, offered by RHB Bank, CIMB Bank, and Maybank. If you can lock in for 24 months, HL Bank offers 2.15% p.a. from just S$10,000. The Maybank Deposits Bundle pushes the effective yield to 2.19% p.a. for 12 months, though it requires a slightly more complex structure. No fresh funds are needed at RHB — a significant edge for existing depositors.

Data verified as at 1 November 2026. Not financial advice. All rates are for reference only and may change without notice. Verify with your bank before placing a deposit.

If you are searching for the single best rate available today, the short answer is: RHB (2.10% p.a., 12m, S$20,000 minimum) or CIMB (2.10% p.a., 12m, S$10,000 minimum) give you the highest yield for standard deposits without requiring fresh funds or complex product bundles.

For depositors with S$100,000 or more and flexibility on tenure, Bank of China’s new-to-bank promotion has offered up to 2.18% p.a. — but that requires being a new customer and opening a BOCSG Multi-Currency Savings Account.

Top Fixed Deposit Rates Singapore — Full Comparison Table (November 2026)

The table below covers every major bank and finance company offering SGD fixed deposits in Singapore. Rates are sorted by the 12-month headline rate, descending.

Source: MissLobang, GrowBeanSprout, official bank websites — rates as at 25-31 October 2026. *GXS Boost Pocket includes base rate plus maturity bonus; early withdrawal loses the bonus. Rates subject to change without notice.

Best Rate by Deposit Size and Tenure

Not all depositors have the same constraints. The best rate depends on your deposit size, tenure flexibility, and whether you have fresh funds.

Interest projections are illustrative based on S$50,000 principal for 12 months unless stated. *GXS 2.00% is for 18 months. Source: bank websites, October 2026.

The key takeaway: CIMB is the winner for small deposits (from S$10,000) at 2.10% p.a. for 12 months with no fresh funds required. RHB is equally competitive with no fresh-funds rule and allows branch or mobile app placement. Maybank wins if you want the same 2.10% on a 6-month tenor.

Bank-by-Bank Breakdown: The Top 8 Contenders

1. RHB Bank — 2.10% p.a. (12m) — Best for No Fresh Funds Rule

RHB offers 2.10% p.a. on a 12-month SGD fixed deposit with a minimum placement of S$20,000 — and crucially, it does not require fresh funds. You can roll over an existing deposit or transfer from another account without losing the promotional rate. This is rare among Singapore banks and makes RHB the most flexible high-rate option. Placement channels: RHB Mobile SG app or branch. Premier Banking customers with S$200,000 total relationship balance qualify for 2.20% p.a. Early termination forfeits accrued interest.

2. CIMB Bank — 2.10% p.a. (12m) — Best for Smaller Deposits (from S$10,000)

CIMB Bank matches RHB at 2.10% p.a. for 12 months but accepts a lower minimum of S$10,000 — the most accessible threshold among the top-rate banks. CIMB placements must be done online via CIMB Clicks or app, with a maximum of S$1,000,000 per placement. The board rate is published for defined windows, so check availability before placing. Preferred Banking customers earn 2.15% p.a. CIMB had a limited new-to-Preferred promotion at 2.43% for 6 months (S$250,000 fresh funds, valid through 31 October 2026) — verify with CIMB if extended.

3. Maybank — 2.10% p.a. (12m and 6m) — Best for 6-Month Tenure

Maybank is unique in offering the same 2.10% p.a. for both 6-month and 12-month tenures. If you need liquidity sooner, Maybank is your best standalone option. Minimum deposit is S$20,000. The Maybank Deposits Bundle — where 10% of the placed amount is earmarked in a savings or current account — lifts the effective 12-month yield to 2.19% p.a. This requires fresh funds and represents the highest all-in mainstream bank rate for a 12-month placement.

4. HL Bank — 2.15% p.a. (24m) — Best for Long-Term Lock-In

HL Bank (Hong Leong Bank’s Singapore branch) operates via HLB Connect online and offers the best rate for depositors willing to commit for 24 months: 2.15% p.a. with a S$10,000 minimum (online) and fresh funds required. The 12-month and 6-month rates are both 2.05% p.a. Branch placement requires S$100,000 minimum. HL Bank does not allow partial withdrawals and forfeits all interest on early exit — plan carefully before committing to a 24-month tenor.

5. Hong Leong Finance — 2.08% p.a. (8m Special)

Hong Leong Finance (a licensed finance company, distinct from HL Bank) runs a periodic 8-month special fixed deposit at 2.08% p.a. for fresh funds of S$20,000 or more. This is time-limited and offered “until further notice.” Standard rates for 12 months on S$20,000+ are 1.90% p.a.

6. Bank of China — Up to 2.18% p.a. (New-to-Bank Promotion)

Bank of China Singapore ran a new-to-bank promotion for 4-month or 8-month SGD deposits: 2.18% p.a. for S$200,000-S$250,000 or 2.08% p.a. for S$100,000-S$199,999, requiring a new BOCSG Multi-Currency Savings Account. Standard rates: 2.05% p.a. for 12 months on deposits from S$20,000, published weekly via the BOC Mobile app.

7. Singapura Finance — 1.98% p.a. (12m, 18m, 24m)

Singapura Finance’s Vivid Fixed Deposit offers a flat 1.98% p.a. across 12-, 18-, and 24-month tenures. For citizens and PRs aged 16+ with a Vivid Savings Account and Singpass, the minimum is S$10,000 online (capped at S$100,000). Fresh funds required. No online withdrawal — plan carefully before placement.

8. OCBC Bank — 1.85% p.a. (12m) — Best Among the Big Three Local Banks

Among Singapore’s three major local banks (DBS, OCBC, UOB), OCBC offers the highest fixed deposit rate at 1.85% p.a. for 12 months via online placement (S$20,000 minimum, fresh funds required). UOB offers 1.70% p.a. and DBS/POSB offers approximately 1.00% p.a. — both well below the market-leading rates from foreign banks and finance companies.

Digital Banks: GXS and MariBank FD Rates

Singapore’s two fully licensed digital banks — GXS Bank and MariBank — offer fixed-deposit-like products with no minimum deposit requirement. They are worth considering for smaller savings amounts or as a supplement to a main FD placement.

GXS Boost Pocket

The GXS Boost Pocket is not technically a fixed deposit — it is a locked savings pocket within the GXS savings account. The effective yield combines a base rate (0.88% p.a.) with a maturity bonus that depends on tenure: 8 months at 1.70% p.a., 12 months at 1.75% p.a., and 18 months at 2.00% p.a. (all if held to maturity). The 18-month Boost Pocket at 2.00% p.a. is GXS’s most competitive option with no minimum deposit. Breaking the pocket early keeps accrued base interest but loses the maturity bonus. Referral code YONG477 may provide a sign-up bonus for new GXS accounts.

MariBank Fixed Deposit

MariBank’s fixed deposit rates sit below the traditional banks: 1.48% p.a. for 12 months, 1.38% for 6 months, and 1.28% for 3 months. The minimum is just S$100 and maximum is S$100,000. For very small sums that do not meet the S$10,000-S$20,000 minimums of the top-rate banks, MariBank offers a meaningful step up. New users can use referral code 2DCT80WQ when signing up.

How to Maximise Your Fixed Deposit Returns in Singapore

1. Check the Fresh Funds Requirement First

Most banks restrict promotional rates to “fresh funds.” RHB and CIMB stand out for not requiring this. If all your cash is already parked at the same bank, you may need to move it out first (wait at least one business day) before qualifying as fresh funds at another institution.

2. Consider Splitting Across Two Banks (SDIC Protection)

Singapore deposits are protected under the Singapore Deposit Insurance Corporation (SDIC) up to S$75,000 per depositor per SDIC member institution. If your total exceeds S$75,000, splitting between CIMB and RHB keeps both tranches fully insured while capturing the top rate. GXS Bank and MariBank are also SDIC members.

3. Ladder Your Fixed Deposits

Instead of placing everything in a single 12-month FD, consider placing one-third each in 3-month, 6-month, and 12-month tenures. This FD ladder ensures liquidity every few months while still capturing a meaningful rate. If rates rise before your shorter tranche matures, you can move it to a higher rate immediately.

4. Compare Alternatives: T-Bills, SSBs, and Syfe Cash+

Fixed deposits are not the only low-risk SGD instrument available. Singapore T-bills 2026 yield approximately 1.95-2.10% p.a. as at late October 2026. Singapore Savings Bonds offer flexible monthly exit with average 10-year rates around 2.5-3%. Syfe Cash+ Guaranteed (referral code SRPRFFFCD) offers 2.20%+ p.a. with daily liquidity — especially useful if flexibility matters more than the marginal rate difference. Endowus Cash Smart (referral code 2V343) offers short-duration money market funds with slightly higher potential returns.

5. Watch for Promotional Windows

CIMB, Hong Leong Finance, and Bank of China are frequent issuers of time-limited promotional rates. Check our full fixed deposit rate Singapore 2026 comparison monthly — the best rate at any given moment can shift significantly. Our Singapore retirement calculator can help you model how different FD rates compound over time toward your retirement goals. For broader passive income Singapore strategies, fixed deposits work best as the stable, low-risk component alongside dividend-paying S-REITs.

Frequently Asked Questions