Fixed Deposit Interest Calculator Singapore 2026

Instantly calculate your FD returns, maturity value and effective annual rate — free calculator with real-time results in SGD.

Understanding Fixed Deposits for Singapore Investors

Fixed deposits (FDs) — also called time deposits — remain one of Singapore’s most popular savings instruments for retail investors. With MAS-regulated banks offering guaranteed capital protection and predictable returns, FDs provide the security-first segment of any Singapore investor’s portfolio. As at Q3 2026, major local banks including DBS, OCBC, and UOB continue to offer competitive FD rates ranging from 2.80% to 3.80% per annum for tenors between 3 and 12 months, while digital banks like MariBank and GXS push promotional rates higher for qualifying deposits. This calculator helps you compute exact interest earned, maturity value, and the all-important effective annual rate — so you can compare apples to apples across banks offering different rates and tenors.

Not financial advice. All figures are for educational reference only. FD rates are indicative as at Q3 2026 and change frequently — always verify with your chosen bank before placing funds.

Why Effective Annual Rate (EAR) Matters

Many Singapore banks quote promotional FD rates as the nominal annual rate, but the actual return you receive depends on the tenor and how interest is paid. A 3-month FD at 3.60% p.a. is not the same as a 12-month FD at 3.60% p.a. if you reinvest the shorter tenor — compounding effects and reinvestment risk both apply. Our calculator shows the effective annual rate alongside raw interest earned, giving you a true apples-to-apples comparison across tenors. For FDs paying simple interest at maturity (the norm for standard Singapore bank FDs), the EAR equals the nominal rate only when the tenor is exactly 12 months.

FDs vs Other Capital-Preserved Instruments in Singapore

Singapore investors choosing between capital-guaranteed instruments typically weigh FDs against Singapore Savings Bonds (SSBs), T-Bills, and CPF OA/SA top-ups. Each has different liquidity, tenor, and rate profiles. SSBs offer step-up rates over 10 years with full flexibility to redeem monthly; T-Bills are auctioned fortnightly with 6-month and 1-year tenors; and CPF contributions offer 2.50% (OA) to 4.00% (SA) with tax relief incentives. Our T-Bill, SSB & FD Comparison Calculator lets you compare all three side-by-side.

How to Use This Fixed Deposit Calculator

1. Principal Amount: Enter the amount you plan to deposit in SGD. Most Singapore banks require a minimum of S$1,000 for standard FDs, though some promotional rates require S$20,000 or higher.
2. Annual Interest Rate: Use the slider to set the p.a. rate quoted by your bank. Standard rates for major local banks are around 2.80–3.50% in mid-2026; check your bank’s website for the latest board rates or promotional offers.
3. Tenor: Select how long you plan to lock in the deposit — from 1 month to 36 months. Shorter tenors (3–6 months) typically offer the most competitive promotional rates in Singapore currently.
4. Compounding: Most Singapore FDs pay simple interest at maturity. Select “Simple Interest (most FDs)” unless your bank specifically offers monthly or quarterly compounding.

The calculator instantly shows your interest earned, total maturity value, effective annual rate, and daily earnings. All figures update in real-time as you adjust the sliders.

Pro tip: Combine this with our T-Bill, SSB & FD Comparison Calculator to see whether a T-Bill or SSB gives you a better effective return for your chosen tenor.

What Is a Fixed Deposit in Singapore?

A fixed deposit (FD) — formally a “time deposit” — is a savings product offered by MAS-licensed banks and finance companies in Singapore. You deposit a lump sum for a fixed period (the “tenor”) and receive a guaranteed interest rate in return. At maturity, you receive your principal back plus the agreed interest. Unlike a regular savings account, you cannot withdraw the funds before the tenor ends without incurring a penalty — typically the partial or full forfeiture of accrued interest.

FDs in Singapore are covered by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor per institution, making them one of the safest savings instruments available. The guarantee applies to principal and accrued interest combined, so for deposits above S$100,000 it is worth spreading across institutions. MAS-regulated banks must meet stringent capital and liquidity requirements, and in practice, Singapore’s three major local banks — DBS, OCBC, and UOB — are considered among the financially strongest institutions in Asia.

Standard FD tenors in Singapore range from 1 month to 36 months. The “sweet spot” for promotional rates has historically been in the 3-to-12-month range, where banks compete most aggressively for short-term deposits. Minimum deposits vary: standard board-rate FDs may require just S$1,000, while promotional rates often require S$20,000 to S$50,000 in fresh funds.

How FD Interest Is Calculated: The Maths Behind the Returns

Most Singapore FDs use simple interest — interest is earned on the principal only and paid at maturity. The formula is:

Interest = Principal × (Annual Rate / 100) × (Tenor in months / 12)

Example: S$50,000 at 3.50% p.a. for 6 months
= S$50,000 × 0.035 × (6/12) = S$875.00
Maturity value = S$50,875.00

For re-invested or longer-tenor FDs with compounding, the formula becomes:

Maturity Value = Principal × (1 + r/n)^(n×t)
where r = annual rate, n = compounding periods per year, t = years

The Effective Annual Rate (EAR) is the annualised return accounting for compounding. For a simple-interest FD with tenor shorter than 12 months, the EAR equals the nominal rate only if you successfully reinvest at the same rate. Our calculator computes both the raw interest and the EAR so you can benchmark short-tenor FDs fairly against 12-month offerings and other instruments like T-Bills and SSBs. For instance, a 3-month FD at 3.60% p.a. rolled over four times yields an EAR of approximately 3.60% (assuming the same rate is available at each rollover) — but rate risk is real in a falling-rate environment.

Singapore FD Rates Comparison 2026

As at Q3 2026, indicative FD rates from major Singapore banks are as follows. Always check with the bank directly for the latest rates, as promotional offers change frequently.

* Promotional/introductory rates subject to terms and conditions. Data indicative as at Q3 2026. All rates are per annum (p.a.).

Notice the pattern: foreign bank subsidiaries and digital banks consistently offer higher promotional rates than the three local majors, reflecting their need to attract fresh deposits in a competitive market. The trade-off is typically a higher minimum deposit amount or promotional cap on qualifying balances. For a full comparison including T-Bills and SSBs, use our T-Bill, SSB & FD Comparison Calculator.

Best Banks for Fixed Deposits in Singapore

Choosing the right bank for your FD depends on your priority: rate, accessibility, minimum deposit, or flexibility. Here is how Singapore’s major FD providers stack up:

DBS, OCBC, UOB (Big Three): The big three local banks offer MAS-compliant board rates that are typically the most stable, with extensive branch and ATM networks. Their promotional rates are usually lower than foreign or digital competitors, but they accept smaller minimum deposits and offer the convenience of integration with existing banking relationships, CPF investment accounts (CPFIS), and retirement planning products. DBS’s iBanking and OCBC’s FD booking portal make placing an FD extremely straightforward.

CIMB, RHB, Maybank: Malaysian-backed foreign bank subsidiaries in Singapore have consistently offered rates 30–60 basis points above the local majors. CIMB FastSaver and their FD promotional campaigns are frequently the top performers for standard retail FD rates. Their Singapore operations are MAS-regulated and SDIC-insured.

MariBank and GXS (Digital Banks): Singapore’s digital-native banks offer competitive savings and time-deposit rates through mobile apps. MariBank (backed by Sea/Shopee) and GXS (backed by Grab and Singtel) are fully licensed by MAS and offer SDIC protection. Their introductory promotional rates are often the highest available. Use our MariBank referral code for sign-up bonuses where applicable. For robo-advisor alternatives that go beyond FDs, Endowus and Syfe offer cash management accounts with competitive yields.

FDs vs CPF Top-Up: Which Gives Better Returns in Singapore?

One question Singapore investors frequently debate is whether to place spare cash in FDs or to top up their CPF accounts. The comparison is nuanced:

CPF Ordinary Account (OA): Earns a guaranteed 2.50% p.a., with an additional 1% on the first S$20,000. CPF OA funds can be used for housing, CPFIS investments, and education — but once transferred to SA or MA, the funds are locked in until retirement age.

CPF Special Account (SA): Earns 4.00% p.a. (plus extra 1% on first S$40,000 combined OA+SA+MA), the highest guaranteed risk-free rate available in Singapore. Cash top-ups to SA (under the Retirement Sum Topping-Up Scheme) also qualify for personal income tax relief of up to S$8,000 per year. For someone in the 11.5% or higher tax bracket, the effective post-tax return from a CPF SA top-up can exceed 5% annually — far above any FD rate.

FDs Win When: You need the capital back within 1–2 years (CPF SA is illiquid until retirement), or when FD promotional rates approach the CPF OA rate, making FDs a rational choice for short-term liquidity management. Use our SRS Tax Savings Calculator to model the tax-relief angle of CPF and SRS contributions alongside FD returns.

The bottom line: for money you genuinely won’t need for 10+ years, CPF SA top-ups almost always beat FDs on a post-tax effective return basis. For a 6–12 month cash reserve, competitive FD rates from digital banks often beat CPF OA.

Using Fixed Deposits as Part of a Passive Income Strategy for Retirement

FDs play a specific, limited role in a Singapore retirement portfolio. They are not a growth engine — their value lies in capital preservation and predictable income generation for the conservative portion of your nest egg. A common Singapore approach is a “bucket strategy”: short-term cash needs (1–2 years of expenses) held in FDs or high-yield savings accounts; medium-term needs (3–10 years) held in SSBs or bond ETFs; and long-term growth (10+ years) invested in dividend-paying REITs, equities, and CPF.

For retirees or near-retirees in Singapore, a laddered FD strategy helps smooth interest rate volatility. Rather than placing all funds in a single 12-month FD, you split the capital into tranches maturing at 3, 6, 9, and 12 months respectively. As each tranche matures, you reinvest at the prevailing rate — capturing rising rates more quickly and avoiding rate lock-in risk if rates are falling. This approach pairs well with our Retirement Planning Calculator, which models how different asset mixes — including a fixed-income FD allocation — affect your long-term retirement income.

For generating higher passive income beyond FDs, Singapore’s S-REITs historically yield 5–7% per annum in distributions — more than double current FD rates — though with higher volatility and no capital guarantee. See our Passive Income Singapore 2026 guide for a full breakdown of how to combine FDs, REITs, dividend stocks, and CPF into a cohesive retirement income strategy.

Frequently Asked Questions

Ready to Grow Your Money in Singapore?

FDs are just one piece of the puzzle. Use our free tools and referral bonuses to put your savings to work smarter.