Dear readers, in today’s post, let us take a look at the OCBC Apr 23 fixed deposit interest rates.
For Apr 23, OCBC is offering, for a minimum $20,000 deposit in Singapore dollars, the following fixed deposit interest rates for a 6-month holding period:
3.50% per annum for time deposits via money deposits or via CPF, for more details visit OCBC Fixed Deposits interest rates.
The current interest rate of OCBC is a little bit lower than the Mar 23 offer, where the interest rate was 3.55% p.a for 5 months of fixed deposits of $20,000 and above (referenced to my previous post on this).
UOB is currently offering a slightly better fixed deposit rather OCBC for a 6-month holding (at 3.55% per annum or 0.05% per annum higher). More details at UOB Fixed Deposits webpage.
While UOB’s fixed deposit interest is 0.05% per annum higher than OCBC, there is one bank that offers 0.05% per annum higher in fixed deposit than OCBC: Hong Leong Finance. Provided that you can keep to a slightly longer holding period at 10 month, Hong Leong Finance’s fixed deposit interest is at 3.60% (for deposit up to <$500,000) or 3.65% (for deposit above $500,000), more details on Hong Leong Fixed Deposits webpage.
Do visit the aforementioned webpages for more details of other packages of fixed deposits that the banks are also having.
To be comprehensive, we will need to mention DBS bank, to round up the top three banks in Singapore (aka DBS, OCBC and UOB). The interest rates offered by DBS are mostly board rates: high interest rates are only up to 3.2% for up to the $19,999 deposit for a holding period of at least 12 months (more details on DBS Fixed Deposits webpage).
There, you have it, as a quick summary of the fixed deposit interest rates offered by Singapore banks:
DBS: 3.2% (at least 12 months of holding) for up to $19,999 deposit
OCBC: 3.50% (6-month) holding for minimum $20,000 deposit
UOB: 3.55% (6-month or 10-month) holding for minimum $10,000 deposit
Hong Leong: 3.60% (10-month) holding for minimum $50,000 deposit (up to <$500,000 deposit)
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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