If you think that fixed deposits are only for conservative cash-rich aunties and uncles, think again. A fixed deposit (also known as a time deposit) account is a type of bank account that pays account holders a fixed amount of interest in exchange for depositing a certain sum of money for a certain period of time. While fixed deposit rates...
in Singapore this month, at up to 3.45% p.a. for regular CIMB customers and 3.5% p.a. if you signed up for CIMB Preferred.
are a measly 0.2% to 0.3% p.a.. In this instance, you would be better off placing your money almost anywhere else. ICBC is a good option for small deposit amounts and small time frames, at 3.65% .Note: The rates above are promotional rates subject to change at any time by RHB. Do checkThe first thing to know about RHB is that they really want you to use mobile banking. RHB used to list their online placementas higher than their offline rates, but now only state online placement rates online.
Thinking of parking $20,000 in a fixed deposit with RHB for a 12-month period? You might want to consider Maybank instead for a slightly higher rate of 3.55% p.a. for the same amount and deposit period.is the low minimum deposit and tenor period. Currently, even if you only have $5,000 to spare for only one month, you can still get a pretty decent interest rate of 2.90 per cent p.a.. Typically, most banks require a minimum deposit of at least $10,000.
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