Dear readers, in this post, let us take a look at the latest fixed deposit interest rates for OCBC.
The fixed deposit interest rates from Singapore’s largest banks are always of interest to me
Current OCBC interest rates are below, for a minimum placement amount of $30,000:
2.70% per annum for placement of fixed deposit via branch for a tenure of 6 months
2.70% per annum for placement of fixed deposit via online for a tenure of 6 months
2.80% per annum for placement of fixed deposit via online for a tenure of 12 months
Personally, I feel that fixed deposit interest from banks are no longer that appealing compared to the current interest rates of recent 6-month T-bills and Singapore Savings Bonds.
As a recap, the average 10-year annual interest rate of Apr 24 (SBAPR24 GX24040Z) Singapore Savings Bonds is 3.04% per annum and the cut-off yield of latest 6-month T-bill, BS24104T which has closed is 3.80% per annum.
However for savers who do not have a CDP account and do not intend to apply for one currently, they would not be able to apply for Singapore Savings Bonds and T-bills. Fixed deposits are then one of the remaining options for them.
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!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!