Dear readers, in this post, let us take a look at the latest interest rate of OCBC June 2023 Fixed Deposit promotion.
Before we take a look at the aforementioned interest rates, let us recap the latest fixed deposit rate of another large local bank: UOB. As shared on an earlier post, UOB is currently offering a fixed deposit of 2.9% per annum for a tenure of 6 months or 10 months. This 2.9% per annum follows higher fixed deposit interest rates of above 3% per annum before from UOB in previous fixed deposit promotions.
With UOB offering fixed deposit interest rate of below 3% per annum now, will other large local banks like OCBC follow suit?
First a recap of OCBC’s Fixed Deposit interest rate,
Apr 2022: 3.5% per annum, updated to 3.4% per annum (mid Apr 22)
May 2022: 3.3% per annum
June 2022 (earlier): 3% per annum
So just what is the latest fixed deposit interest rate from OCBC right now?
For June 2023 updated fixed deposit interest rates, OCBC is offering 2.7% per annum for a tenure of 6 months and for a minimum fixed deposit amount of $30,000.
Yes, really below 3% per annum now for OCBC bank fixed deposit!
I believe it will soon be a matter of time before most banks here offer lower than 3% per annum for their fixed deposit interest rates.
I hope you have secured some high interest rates for fixed deposits for your monies earlier as looks like interest rates for fixed deposit interests are declining.
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