Fixed Deposit Calculator Singapore (2026)
Project FD maturity value and effective yield. Compare promotional rates from DBS, OCBC, UOB, Maybank, StanChart, RHB, and Hong Leong Finance.
What is the Singapore Fixed Deposit Calculator?
This calculator projects how much your fixed deposit will be worth at maturity, based on the principal you commit, the annual interest rate, the tenure in months, and the compounding frequency. It also shows the effective annual yield so you can compare rates that compound differently. The bank comparison table provides indicative ranges across major Singapore banks — verify current promotional rates with the bank before committing funds.
Result updates as you type
Maturity value
$51,624
After 12 months at 3.20% p.a.
Total interest earned
$1,623.68
Effective annual yield
3.247%
Breakdown
Interest from approved Singapore banks is tax-exempt for individuals. Deposits with full banks and finance companies in Singapore are insured by SDIC up to S$100,000 per depositor per scheme member.
Singapore FD Rates Snapshot
Indicative rate ranges across major Singapore banks. Promotional rates change often — verify with the bank website before committing funds.
| Bank | Rate range (p.a.) | Min deposit | Typical tenure | Notes |
|---|---|---|---|---|
| DBS | 2.45 – 3.10% | $1,000 | 3 – 24 mo | DBS counter rates; promotional rates may apply for new funds. |
| OCBC | 2.80 – 3.20% | $30,000 | 6 – 24 mo | Premier banking customers may receive higher tiers. |
| UOB | 2.85 – 3.20% | $10,000 | 6 – 24 mo | UOB Stash / promotional FD often peaks at 10–12 month tenure. |
| Maybank | 2.90 – 3.40% | $20,000 | 6 – 24 mo | Maybank iSaver / promotional FD; rates often top SG league tables. |
| Standard Chartered | 2.80 – 3.25% | $25,000 | 3 – 18 mo | Priority Banking clients access higher tiers. |
| RHB | 2.95 – 3.50% | $20,000 | 6 – 12 mo | Often offers some of the highest promotional rates in SG. |
| Hong Leong Finance | 2.85 – 3.30% | $50,000 | 8 – 24 mo | Finance company (not a full bank); covered by SDIC up to S$100k. |
indicative_only_2026-05-13. Banks update promotional rates frequently. Always check official bank pages before commitment.Disclaimer
This calculator provides estimates based on publicly available income and wealth data for Singapore. Actual percentile rankings vary by data source, year, and methodology. It is not intended to be your sole source of financial guidance.
Rates last verified: 13 May 2026.
Verify with SingStat (https://www.singstat.gov.sg). Full disclaimer at smartcalculator.sg/disclaimer.
Quick Reference
- • SDIC insurance covers up to S$100,000 per depositor per bank/finance company
- • Interest earned by individuals is exempt from Singapore income tax
- • Promotional rates often require “fresh funds” not previously placed with the bank
- • Early withdrawal typically forfeits all accrued interest
- • Foreign currency FDs are NOT SDIC-covered and carry FX risk
Who This Calculator Is For
Retirees / Capital Preservers
FDs are a low-risk way to earn yield on cash without market volatility. SDIC-insured up to $100k per bank — split across banks for full coverage of larger balances.
Emergency Fund Builders
FD ladders (e.g. 3-month, 6-month, 9-month rolling) give you regular access to portions of your emergency fund while still earning yield.
House Downpayment Savers
If you have a known time horizon (e.g. BTO collection in 18 months), an FD locks in a known return without market drawdown risk.
Bank Comparison Shoppers
Promotional FD rates change monthly. Use the comparison table as a starting point and cross-check with each bank's official promo page before committing fresh funds.
How Fixed Deposits Work in Singapore
A Singapore fixed deposit (also called a time deposit) is a deposit you commit to a bank for a fixed tenure — typically 1 to 24 months — in exchange for a fixed interest rate. At maturity, the bank returns your principal plus accrued interest.
The maturity formula is P × (1 + r/m)^(m×t), where P is principal, r is the annual rate, m is the number of compounding periods per year, and t is years. Monthly compounding produces a slightly higher effective yield than annual compounding for the same headline rate.
Singapore-dollar deposits with SDIC scheme members are insured up to S$100,000 per depositor per bank. For amounts above that, splitting across multiple banks is standard. See our Investment Returns Calculator for higher-risk, higher-return options.
1. Choose principal & tenure
Most banks have a minimum deposit ($1,000–$50,000) and a fixed tenure between 1 and 24 months.
2. Lock in the promotional rate
Promotional rates usually require “fresh funds” not previously held with the bank. Counter rates are lower.
3. Interest accrues
Interest compounds at the bank's defined frequency (monthly, quarterly, or at maturity).
4. Maturity payout
Principal + accrued interest is returned at maturity. Interest is tax-exempt for SG individuals.
FD vs T-bill vs SSB: Singapore Cash-Equivalent Comparison
Three popular low-risk yield instruments for Singapore residents. Each has different liquidity, return profile, and credit backing.
| Feature | Fixed Deposit | T-bill (6m / 1y) | SSB (10y) |
|---|---|---|---|
| Issuer | Singapore bank | MAS / Singapore Govt | MAS / Singapore Govt |
| Credit risk | Low (SDIC up to $100k) | Lowest (AAA sovereign) | Lowest (AAA sovereign) |
| Tenure | 1–24 months | 6 months or 1 year | Up to 10 years |
| Early access | Forfeit interest | Secondary market (variable price) | Any month, principal returned |
| Tax on interest | Tax-exempt | Tax-exempt | Tax-exempt |
| Typical recent yield | 2.8 – 3.5% | 3.0 – 4.0% | 2.5 – 3.3% (10-yr avg) |
| Minimum | $1,000 – $50,000 | $1,000 | $500 |
Yield ranges are indicative based on recent SG market conditions and change with global rates.
Frequently Asked Questions
What's the best fixed deposit rate in Singapore right now?expand_more
The best promotional FD rates in Singapore typically come from RHB, Maybank, and Hong Leong Finance, with rates moving in line with the US Fed funds rate. As of recent quarters, peak promotional rates have ranged from 2.85% to 3.50% p.a. for tenures of 6–12 months. Rates change monthly — always check the MAS interest rates page or the bank's official promotional page before committing funds. Higher minimum deposits and longer tenures generally unlock the top tier.
Are FD interest gains taxed in Singapore?expand_more
No. Interest earned by individuals from deposits with approved banks and finance companies in Singapore is exempt from income tax under Section 13(1)(za) of the Income Tax Act. You do not need to declare FD interest on your annual tax return. This is one of the key reasons FDs remain attractive in Singapore relative to many other jurisdictions.
How are SG FDs different from T-bills and SSBs?expand_more
Fixed Deposits are bank products with fixed tenures (1–60 months) where you forfeit interest on early withdrawal. T-bills (6-month or 1-year) are issued by MAS via competitive auction, sold at a discount, and tradeable on the secondary market. SSBs (Singapore Savings Bonds) have step-up coupons over 10 years and can be redeemed any month with no penalty. T-bills and SSBs are backed by the Singapore government (AAA-rated); FDs are protected by SDIC up to $100,000.
Can I withdraw an FD before maturity?expand_more
Yes, but you will typically forfeit all accrued interest, and some banks may charge an early-withdrawal administrative fee. The principal is generally returned in full. Read the bank's specific early-termination terms before locking in a long tenure. For flexibility, consider laddering FDs (multiple staggered maturities) or using SSBs which redeem at par any month.
Is an FD safe in Singapore?expand_more
Yes. The Singapore Deposit Insurance Corporation (SDIC) insures deposits up to S$100,000 per depositor per Scheme member (i.e. per bank or finance company). This includes Singapore-dollar deposits with full banks, finance companies, and qualifying foreign banks. Foreign currency deposits, structured deposits, and investment products are NOT covered. For amounts above $100,000, splitting across multiple SDIC member banks is the standard risk-management approach.
Should I split my FD across multiple banks?expand_more
If your deposit exceeds S$100,000, splitting across multiple SDIC scheme members maximises insurance coverage. For example, $300,000 split across 3 banks ($100k each) is fully covered, whereas $300,000 in one bank only has $100k insured. Beyond insurance, splitting also lets you chase the best promotional rate per tranche and stagger maturity dates (FD laddering) for liquidity.
What's the typical minimum deposit for SG FDs?expand_more
Minimums vary widely: DBS starts at $1,000 for some tenures, UOB Stash from $10,000, OCBC and StanChart promotional FDs often require $20,000–$30,000, and Hong Leong Finance promotional tiers start at $50,000. Higher minimums generally unlock higher rates. Always check the bank-specific minimum, fresh-funds requirement, and any tiered rate structure.
Are foreign currency FDs higher yield?expand_more
Foreign currency FDs (USD, AUD, GBP, NZD) often offer higher headline rates than SGD FDs, but you bear FX risk on both deposit and withdrawal. A 5% USD FD can underperform a 3% SGD FD if SGD strengthens against USD over the tenure. Foreign currency deposits are also NOT covered by SDIC. Use them only if you have a natural foreign-currency liability or are comfortable with FX volatility.
Sources
- • MAS (mas.gov.sg) — Domestic interest rates, T-bill auction results
- • SDIC (sdic.org.sg) — Deposit insurance scope and limits
- • DBS, OCBC, UOB, Maybank, Standard Chartered, RHB, Hong Leong Finance — Bank promotional FD pages
- • IRAS Income Tax Act s.13(1)(za) — Tax exemption on bank deposit interest