Comparison of Interest Rates in Singapore

Banks' battle for depositor funds in Singapore is hotting up recently with higher and higher interest rates being offered, with offers sometimes even changing in the matter of days. It is a torture to try to determine which bank in Singapore is offering the best interest rates at the moment but a consolidated view of the interest rates in Singapore on 17 Jan 2006 is as follows:

#Citibank
i) 2.68% -- 12mths unfixed deposit (min $30k)
ii) 2.88% -- 12mths unfixed deposit (min $50k)
iii) 3.0% -- 12mths unfixed deposit (min $200k)

#DBS/POSB
i ) 2.728% -- 12mths FD (min $20k)
ii) 2.988% -- 12mths FD (min $750k)

#Hong Leong Finance
i) extra 0.25% -- 12mths FD (min $500)
ii) 2.99% -- 9/12mths FD (min $50,001)

#HSBC
i) 2.92% -- 12mth sFD (min $50k)
ii) 2.87% -- <12mths FD

#Maybank
i ) 2.49%* -- isavvy savings (*2.38% + 6% interest-on-interest)
ii) 3.125% -- 36mths Privilege Plus FD (55yrs old & above, min $25k)
iii) 2.88% -- isavvy time deposit 12mths (min $25k)

#OCBC
i ) 2.79% -- 10/10 FD (min $40k)
ii) SIBOR - 0.5% -- Plus checking account (min $200k)
iii) 2.68% -- 12mths FD (min $40k)
iv) 2.78% -- 12mths FD (min $100k)

#Standard Chartered Bank
i ) 2.45%*/1.88% -- e$avers savings (*>$50K)

#UOB
i) 3.08%/2.68% -- 3mths/6mths FD (min $50k)

#finatiq.com
i) 1.38% -- Investment Account (Individual)

#Fundsupermart & iFast Financial
i) 1mth SIBID - 0.5% - 0.25% -- Cash Account (2.575% on 17/01/06)
See Fundsupermart for details.

The information provided above is good for a rough idea of where to get the best deals but as the situation now is so fluid and additional promotions, such as free abalone, interest-on-interest, etc, are being offered, do take a little effort to verify if the interest rates are up-to-date.