For new placements, CIMB offers the highest fixed deposit rate of 0.8% for those with a personal banking account. However, this fixed deposit has a 24-month tenure and also requires a minimum of S$10,000. BOC also offers 0.7% p.a., but with a higher maturity period of 36 months.
Which bank has the highest interest rate for fixed deposit in Singapore?
Best fixed deposit rates in Singapore (August 2021)
|Bank/financial institution||Min. deposit amount||Interest rates|
Which bank gives highest rate on FD?
Fixed Deposit Interest Rates by Different Banks
|ICICI Bank||7 days to 10 years||4% to 7.25%|
|Punjab National Bank||7 days to 10 years||5.70% to 6.85%|
|HDFC Bank||7 days to 10 years||3.5% to 7.40%|
|Axis Bank||7 days to 10 years||3.5% to 7.25%|
Which bank FD rate is high 2020?
Axis Bank offers the highest FD interest rate of 5.75% p.a. which is for a tenure of 5 years and above for the general public. For senior citizens, the interest rate is up to 6.50%. The next highest interest rate is 5.60% p.a. which is offered by Union Bank of India.
Which bank in Singapore has the highest interest?
Best savings accounts in Singapore with the highest interest rates
|Savings account||Realistic interest rates||Best for|
|OCBC 360||0.35% to 0.45% (w.e.f. Feb 2021)||Growing your savings|
|Maybank Save Up||0.48% to 2.93%||Loan customers|
|SCB Bonus Saver||0.48% to 1.08%||High spenders|
|BOC Smart Saver||0.7% to 1.4%||High earners & spenders|
What is better than fixed deposit?
Short term debt funds invest in bonds with a maturity period of one to three years. It is suitable for low-risk investors with a similar investment horizon. It is a tax-efficient investment as compared to fixed deposits for investors in the higher tax brackets.
What is the maximum FD amount?
You can deposit a maximum Rs 1.5 lakh a year under Section 80C. There is also tax deducted at source (TDS) on FD. If your interest earned from FD is more than Rs 10,000 in a year, TDS will be deducted.
How much amount of FD is tax free?
What is a Tax-Saving FD. A tax-saving fixed deposit (FD) account is a type of fixed deposit account that offers a tax deduction under Section 80C of the Income Tax Act, 1961. Any investor can claim a deduction of a maximum of Rs. 1.5 lakh per annum by investing in a tax-saving fixed deposit account.
Where can I get the highest interest on my money?
Join a credit union.
- Open a high-interest online savings account. You don’t have to settle for cents of interest that you may get from a traditional brick-and-mortar bank’s regular savings account. …
- Switch to a high-yield checking account. …
- Build a CD ladder. …
- Join a credit union.
Which bank gives highest interest on FD for 1 year?
FD Interest Rates with a 1-year Tenure
|Top 10 1-year FDs for 2021|
|Bank||Regular FD Rates (per annum)||Senior Citizen FD Rates (per annum)|
|Shriram City Union Finance||7.25%||7.65%|
|LIC Housing Finance Limited||5.50%||5.75%|
|Fincare Small Finance Bank||6.00%||6.50%|
Which small bank offers highest FD rates?
Currently, Jana Small Finance Bank provides the highest interest on FD upto 6.75% and hence, is one of the best banks for investing in a fixed deposit. You can invest in Jana Small Finance Bank FD for a tenure ranging between 7 days to 10 years.