Dear readers, in this post, let us take a look at the fixed deposit interest rates offered by OCBC for the month of May 2023, “OCBC Fixed Deposit Interest Rates (May 2023)”.
First, a quick recap. As shared on SG Stocks Investing, OCBC fixed deposit interest rate at the start of Apr 2022 was 3.5% per annum. By mid Apr 2022, OCBC fixed deposit interest rate has gone down slightly to 3.4% per annum.
Fast forward to today, for deposit of S$20,000 to S$999,999, OCBC is offering a fixed deposit interest rate at 3.30% per annum for a 6-month tenure. The 6-month holding tenure is the only tenure offered by OCBC. For more details, visit OCBC fixed deposit webpage here.
Considering how fixed deposit interest rates from various banks have gone down in recent weeks, the fixed deposit interest rate trend of OCBC is not unexpected. 3.30% per annum interest rate is not the highest on the market right down: this interest rate is about the average of the fixed deposit interest rates offered by banks currently. But for savers, who would consider a longer tenures, there are other fixed deposit promotions from other banks which offer higher fixed deposit interest rates for a longer tenure.
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