Dear readers, OCBC bank updated its fixed deposit promotional interest rates recently. The bank is offering 2.7% per annum interest rate on its fixed deposit, which is noteworthy for this is the first time that the fixed deposit interest rate from the bank has crossed below the 3% per annum mark.
And not only that, I believe this is the continuation of a trend where fixed deposit interest rates from the bigger banks here have crossed below 3% per annum: UOB is currently having fixed deposit promotion with interest rates that are slightly higher only at 2.9% per annum.
Looking around, the current 2.7% per annum fixed deposit interest rates from OCBC seems to be the lowest or one of the lowest in town.
Surprising, other banks are still offering to customers fixed deposit interest rate of higher than 3% per annum. The highest or one of the highest fixed deposit interest rates seem to be from Maybank Singapore with its 3.90% per annum fixed deposit interest rate for a tenure of 12-month.
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