Cimb Fixed Deposit Rate 2020
Read through the Tier 1 and Tier 2 details of the Fixed Deposit offer of CIMB. For complete information, kindly visit the CIMB website today. Unfixed Deposit. Tier 1 and Tier 2 (Effective from 13 July 2020) Conventional FD. (Tier 1). Open a CIMB SGD Fixed Deposit Account and make placement online to get exclusive rates with a minimum deposit from just S$1,000.
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Deposits have a much lower risk as compared to other volatile products. They offer a better peace of mind and a higher level of assurance that your money will always be there
Note: Terms & conditions apply for the following promotions. Be sure to read in detail before going in for it.
In a heavily summarised definition:
- Fixed / Time deposits require you to place funds (usually fresh funds) in a account for a specified amount of time
- Incremental balance promotions require you to increase your average balance of your account from a defined period with fresh funds.
- Fresh funds refer to funds transferred from accounts outside the bank. Over-the-counter or machine cash deposits are usually fine too but do take note banks may charge for large cash deposits
New promotions are added to the bottom of the list
- Singapore Savings Bonds – Government Security; High p.a.; Min $500; Requires free CDP account; No penalty for early withdrawal; Interest payments every 6 months after issuance
- Maybank: Earn up to 1.0% p.a. with their latest time deposit rates from 2 October 2020**BEST for funds up to $1m**
- HSBC offers 1.10% p.a. for 24-mth Singapore Dollar Time Deposits (as of 2 Oct 2020)**BEST for funds up to $49,999**
- Singapore Savings Bond (SSB): Earn up to 0.97% p.a. in the latest bond – Apply by 23 Feb**BEST for lowest risk deposit up to $200,000**
Cimb Singapore Fixed Deposit Promotion
Last updated 7 Feb 2021. Click these links for latest Fixed Deposit or Time Deposit Promo
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Last month in December, I have placed a 6 months fixed deposit with CIMB Bank that gives me an interest rate of 1.80% p.a. The good news is that CIMB Bank has maintained its interest rate of 1.80% p.a. for its Chinese New Year Fixed Deposit Promotion. They are probably the only bank that maintain the high interest rate of 1.80% p.a.
While searching for Chinese New Year fixed deposit promotions, I found a promotion from OCBC that gives you vouchers instead of cash for a 6 month locked in period. The interest rate is 1.70% p.a. if you compare the value of the vouchers against cash. You can read more about it below.
The next good deal is from Hong Leong Finance where they maintain their interest rate of 1.73% p.a.
CIMB Fast Fixed Deposit Chinese New Year Promotion
Interest rate: 1.80%, Minimum Placement: S$10,000, Promotion Valid Until: 31st January 2020
The total interest that you will receive if you place S$20,000 for 12 months is S$360.
OCBC Bank Chinese New Year Deposit Promotion
Interest Rate: Not Applicable, Minimum Placement: S$10,000, Promotion Valid Until: 31st January 2020
As part of OCBC Chinese New Year promotion, receive S$85 NTUC FairPrice vouchers with every S$10,000 in fresh funds deposited into OCBC Passbook, Statement Savings, Premier Statement Savings and Premier Easisave accounts. The funds must be maintained for 6 months.
If you work backwards, the S$85 NTUC FairPrice vouchers is equivalent to an interest rate of 1.70% p.a based on a deposit of S$10,000 locked in for 6 months.
Hong Leong Finance
Interest Rate: 1.73%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
Cimb Fixed Deposit Promotion 2020
The total interest that you will receive if you place S$20,000 for 12 months is S$348.76.
Standard Chartered Bank (Singapore)
Interest Rate: 1.55%, Minimum Placement: S$25,000, Promotion Valid Until: 31st January 2020
Unless you are a priority banking customer, otherwise you get an interest rate of 1.55% p.a. for a minimum place of S$25,000 with Standard Chartered Bank.
The interest that you will get is S$322.92 based on an interest rate of 1.55% p.a. for a placement of S$25,000 for 10 months.
If you are a priority customer, the interest that you will get is S$343.75 based on an interest rate of 1.65% p.a. for a placement of S$25,000 for 10 months.
MayBank Singapore Dollar Time Deposit
Interest Rate: 1.60%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
Maybank has further reduced their fixed deposit interest rate from 1.80% to 1.60%. The total interest that you will receive if you place S$20,000 for 12 months is S$320.00. However, there are some catch should you choose to place your fixed deposit with MayBank
- You need to have a MayBank Current or Savings account.
- For every S$1,000 deposited into the CASA Account, S$10,000 can be placed into the Singapore Dollar Time Deposit, subject to a minimum of S$20,000 in Time Deposit and the corresponding minimum deposit of S$2,000 in the CASA Account.