Pick your amount and tenure and watch the market re-rank. We re-audited 25+ banks and finance companies from their official pages (research cut-off 24 July 2026) and split the market into honest lanes — because the highest headline is often not the best deposit. The August story: July’s 1.55% market leader is gone, the best clean 12-month rate falls to 1.45% p.a., and several banks quietly raised 6-month money instead. Offers whose July windows just closed are flagged until their August rates publish.
What changed since July
▼ Singapura Finance withdrew July's market-leading 1.55% (12/13m) promo — its new promo is 6m 1.42% / 7m 1.45%. The best clean 12-month rate assertable for August falls to 1.45% (CIMB / RHB / ICBC / Maybank).
▲ OCBC raised its online 12- and 18-month rates to 1.30% (from 1.20%/1.25%).
▲ Maybank's standalone 6-month rate jumped to 1.45% (from 1.30%) — now joint-best 6-month among the majors.
▲ Bank of East Asia lifted its 6- and 12-month promo to 1.50% (from 1.45%).
▲ Hong Leong Finance launched a 4/5-month 1.50% digital promo (min S$10,000, HLF Digital users).
▼ Citibank's investment-bundle teaser fell from 3.50% to 2.95%, and its new-to-bank FD tiers were restructured (S$350k–1.5m now 1.45%/1.40%).
— SBI (6m 1.50%), ICBC, CIMB, RHB, Sing Investments, HL Bank bundle, GXS Boost and DBS/POSB board rates are unchanged.
9 offers fit S$20,000 for 12 months — the best pays 1.50% ≈ S$300 interest
Best clean rate
Bank of China
Mobile-app weekly rates
1.50%p.a.
Your S$20,000 earns ≈ S$300 in 12 months
Clean FDVerify at placement
Minimum
S$500
Channel
BOC mobile app
Validity
Weekly notice (20–26 Jul shown) — re-issued each week, August rates follow the next notice
Strongest low-minimum rate in the market: 1.50% from just S$500 (1.55% at ≥S$200k). But the rate sheet is re-published WEEKLY — confirm the current week's notice in-app before placing.
ICBC
E-banking promo (top tier)
1.45%p.a.
Your S$20,000 earns ≈ S$290 in 12 months
Clean FDFresh funds
Minimum
S$500
Channel
Online (S$500 min) / counter (S$20k min)
Validity
Effective 1 Jul, until changed
Top 1.45% tier needs S$20,000 — below that you get 1.05–1.30% depending on tenure. Fresh funds (no intra-ICBC transfers).
CIMB
Personal Banking online
1.45%p.a.
Your S$20,000 earns ≈ S$290 in 12 months
Clean FD
Minimum
S$10,000
Channel
Online
Validity
From 1 Jul — no end date stated
Early termination pays only completed interest quarters.
RHB
Personal Banking
1.45%p.a.
Your S$20,000 earns ≈ S$290 in 12 months
Clean FD
Minimum
S$20,000
Channel
Mobile app
Validity
Until changed
New placements and renewals; rates subject to change without notice.
Maybank
Standalone time deposit
1.45%p.a.
Your S$20,000 earns ≈ S$290 in 12 months
Clean FD
Minimum
S$20,000
Channel
Branch / online
Validity
Current — no end date stated (verified in browser 24 Jul)
6-month rate jumped to 1.45% (from 1.30% in July). Don't confuse with the 1.65% bundle — that needs earmarked savings. 9-month is open to non-individuals too.
Hong Leong Finance
Standard promo
1.35%p.a.
Your S$20,000 earns ≈ S$270 in 12 months
Clean FD
Minimum
S$5,000
Channel
Online / branch
Validity
From 16 Jun until changed
Rates shown are the ≥S$20,000 tier (S$5k–20k earns 1.28–1.30%); online placement restricted to existing HLF customers.
Sing Investments & Finance
Online fresh funds
1.33%p.a.
Your S$20,000 earns ≈ S$266 in 12 months
Clean FDFresh funds
Minimum
S$1,000
Channel
Online
Validity
Current
Rates shown are the ≥S$10,000 online tier; smaller amounts and counter placements earn slightly less.
OCBC
Online FD
1.30%p.a.
Your S$20,000 earns ≈ S$260 in 12 months
Clean FDFresh fundsVerify at placement
Minimum
S$20,000
Channel
Online (branch max S$5m)
Validity
No window published — confirm in-app
12- and 18-month rates rose to 1.30% since mid-July. Early withdrawal may attract a fee and reduced or zero interest.
UOB
Public promo
1.30%p.a.
Your S$20,000 earns ≈ S$260 in 12 months
Clean FDFresh fundsVerify at placement
Minimum
S$10,000
Channel
Online
Validity
July window ended 31 Jul — August rates unconfirmed
Extra +0.05% only for customers already holding eligible wealth products. Zero interest on premature withdrawal.
The catches behind the big headlines
Snapshot verified 24 July 2026. Rates change without notice — the rate confirmed in the bank’s app, branch or placement confirmation is the one that binds. Interest figures are simple approximations; banks’ day-count conventions differ.
Deposit insurance in one minute
S$100,000 per depositor per bank — combined across savings, current and fixed deposits at that institution, not per account.
Finance-company deposits (Singapura Finance, Hong Leong Finance, Sing Investments) are covered under the same SDIC scheme where the company is a Scheme member.
Foreign-currency deposits and investment products are not covered.
Holding more than S$100,000 at one bank can still be reasonable — but the excess is an unsecured exposure, so make it a conscious choice.
Deciding between an FD, SSB, T-bill or insurance savings plan?
A licensed adviser can help you:
Weigh fixed deposits against Singapore Savings Bonds and T-bills at your exact amount and horizon
Judge bundle offers honestly — whether the linked insurance or investment stands on its own
Structure cash so deposit insurance actually covers you
Are you an adviser? This is the simple public version. Join AdvisorOS for the advanced calculators, AI-assisted client reviews and the full workspace behind these tools.
Quick answers
What is the best fixed deposit rate in Singapore in August 2026?The best clean standalone SGD fixed deposit rate assertable for August 2026 is 1.45% p.a. for 12 months, offered by CIMB (online, min S$10,000), RHB (app, min S$20,000), ICBC (e-banking, S$20,000 tier) and Maybank (min S$20,000). For 6 months, SBI Singapore pays 1.50% (min S$50,000) and Hong Leong Finance pays 1.50% for 4–5 months on its digital promo. Bank of China's app has shown 1.50% from just S$500, but its rate sheet is re-issued weekly.
What happened to July's 1.55% fixed deposit rate?Singapura Finance withdrew its market-leading 1.55% (12/13-month) promotion in late July 2026 and replaced it with a lower, shorter promo at 1.42–1.45% for 6–7 months. The best clean 12-month rate for August therefore falls to 1.45% p.a.
Are high fixed deposit headline rates like 8.08% real?Headline rates such as DBS 8.08%, Citi 2.95% or Maybank 1.65% are not clean SGD fixed deposits. They require foreign-currency deposits, investment or insurance purchases, or a lower-rate linked savings balance. On total committed capital most resolve to around 1.5% or less, or carry product costs that exceed the extra interest — Maybank itself publishes its 1.65% bundle's effective rate as 1.50%.
Is my fixed deposit protected in Singapore?SGD fixed deposits are covered by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor per Scheme member, aggregated across your savings, current and fixed deposits at that institution. Finance-company deposits are covered where the company is a Scheme member; foreign-currency deposits are not covered.
What happens if I withdraw a fixed deposit early?Premature withdrawal of a Singapore fixed deposit commonly results in no interest or sharply reduced interest, and some promotions require the deposit to be held to maturity to earn the advertised rate. Always check the early-withdrawal terms before placing funds.
Rates are a point-in-time snapshot verified 24 July 2026from official institution pages (Maybank and DBS/POSB board rates re-verified manually in a browser the same day); campaigns change weekly and some banks show the binding rate only in-app or at placement. Offers whose July windows closed before 1 August are flagged “verify at placement” until their August rates publish; offers that could not be verified on an official page are excluded. This is market research for education and comparison — not a recommendation or an invitation to place deposits. Confirm the live rate and terms with the institution before placing funds.