This is the month of Christmas and also the last month of the year 2019. On top of the fixed deposits promotion that I have found last month in November, there is a new one such as the CIMB Why Wait Fixed Deposit-I promotion.
From 26 February 2021. Get free High Tea Jubilee Set for 2 and enjoy 0.45% p.a.with min. Singapore dollars $200,000 & above for 6 months in Hong Leong Finance Singapore 60th Anniversary Fixed Deposit Jubilee Promotion. Place fresh funds via Paynow. For convenience, you may calculate the interest income with our Fixed Deposit online calculator for this promotion. Hong Leong Investment Bank (HLIB ) is wholly owned by Hong Leong Capital Berhad which forms part of the stable of well established and successful companies located in many countries which are spearheaded by our Chairman, Yang Berbahagia Tan Sri Quek Leng Chan.Our main areas of operations are in Investment Banking & Stockbroking. Hong Leong Bank Fixed Deposit offers the flexibility of deposit terms from one month to sixty months with attractive interest rate, invest your cash and earn money right off the bat. The longer you place the deposit, the higher the interest rate is. The cool thing about this Hong Leong Bank FD is that the bank lets you choose the tenure of your.
For those who has a lump sum of cash and can afford to lock down the money for 12 months or more, I certainly do recommend placing the money into fixed deposits as compared to the Singapore Savings Bonds. The reason is that for a short term period of 12 months, the interest rate for January 2020 Singapore Savings Bonds has fell tremendously to 1.52% (Read more: January 2020 Singapore Savings Bonds is 1.76%)
Below are fixed deposits from CIMB, Hong Leong Finance and MayBank. I have removed the fixed deposit promotion from Standard Chartered Bank because it fell to a non-attractive rate of 1.55% p.a. For those who are interested, OCBC is also offering a interest rate of 1.55% p.a. for a fixed deposit of 12 months on SGD as well.
CIMB Fast Fixed Deposit Christmas Promotion
Interest rate: 1.80%, Minimum Placement: S$10,000, Promotion Valid Until: 31st December 2019
The total interest that you will receive if you place S$20,000 for 12 months is S$360.
CIMB Why Wait Fixed Deposit-i Christmas Promotion
Interest rate: 1.80%, Minimum Placement: S$10,000, Promotion Valid Until: 31st December 2019
This is another fixed deposit promotion offered by CIMB. For this Why Wait Fixed Deposit-it, you get the profit upfront rather than upon maturity.
The total interest that you will receive if you place S$20,000 for 12 months is S$360.
Hong Leong Finance Fixed Deposit
Hong Leong Finance Fixed Deposit Promotion Rate
Interest Rate: 1.70%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
Hong Leong Finance seems to have reduced the interest rate for their fixed deposit. For a placement of S$20,000, last month was 1.73% but now they have reduced it to 1.70%. Nevertheless, it is still attractive.
The total interest that you will receive if you place S$20,000 for 12 months is S$340.
MayBank Singapore Dollar Time Deposit
Interest Rate: 1.80%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated
Maybank has also reduced their fixed deposit interest rate from 1.88% to 1.80%. The total interest that you will receive if you place S$20,000 for 12 months is S$360.00. However, there are some catch should you choose to place your fixed deposit with MayBank
Hong Leong Finance Fixed Deposit
- 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.