Last updated on 2023-08-30
Low minimum deposit
Foreign Bank with few branches
Lower rates than ICBC Fixed Deposit
Quarterly or semi-annually step-up interest rate
Effective interest rates of up to 0.50% interest p.a. for 12 months step-up fixed deposit
Interest rates increase every 3 months giving higher returns
Minimum deposit of SGD5,000 for 12 months step-up fixed deposit
No penalty for pre-matured withdrawal of fixed deposit; For withdraw before maturity, you will be paid the full interest for completed cycle plus number of completed days in current cycle using previous cycle rate
Effective interest rates of up to 0.50% interest p.a. for 24 months step-up fixed deposit
Interest rates increase every 6 months giving higher returns
Minimum deposit of SGD5,000 for 24 months step-up fixed deposit
For withdrawal before maturity, you will be paid full interest for all completed cycles. For incomplete cycle, you will be paid interest rate using the previous cycle multiply by the number of completed days in the current cycle . If early withdrawal happens in the first cycle, you will be paid the prevailing current account interest rate as there is no completed previous cycle.
Click here to go to ICBC website for more details
* Interest Rates based on highest fixed deposit rate with
maximum deposit amount of $75,000 and 3 to 18 months tenure
ICBC current highest fixed deposit rate is 3.50% p.a. for 3 months tenure with minimum deposit of $500. See ICBC fixed deposit for more details
The current highest fixed deposit rate is a ICBC fixed deposit promotional rate
The current Money Lobang National Average Fixed Deposit Rates for September 2023 is 3.02% p.a.
The average monthly highest fixed deposit rate for ICBC since 2018 is 1.75% p.a.
ICBC runs fixed deposit promotional campaigns every month