UOB customers get 4.34 per cent a year for a placement below US$50,000 over six months.Ī promotion by Standard Chartered this month offers 4.58 per cent for a minimum placement of US$25,000 over three months, and 4.98 per cent for six months. Some of these currencies now offer higher fixed deposit rates than Singdollar deposits, which inched up above 4 per cent this month.įor example, OCBC’s 360 account customers get a promotional rate of 5.08 per cent a year for a US dollar fixed deposit with an eight-month tenor, subject to a minimum of US$20,000. Non-360 customers get a rate of 4.88 per cent.įor a six-month deposit, OCBC offers 4.35 per cent for the first US$49,999.ĭBS, the largest bank here, offers 4.41 per cent per annum for a six-month US dollar fixed deposit below S$10,000. Take-up rates for foreign currency fixed deposits surged last year, with the US dollar, Australian dollar and the British pound among the popular choices, several banks told CNA.
SINGAPORE: Rising interest rates have been attracting depositors to park their money in fixed deposits – not just in Singapore dollars but also foreign currencies.
