Fixed Deposit Calculator Singapore: Compare FD Rates Side by Side
Placement A
Highest yield- Interest at maturity
- S$80.00
- You get back
- S$20,080.00
- Per month held
- S$26.67
- Over 12 months, if renewed
- S$321.93
Placement B
- Interest at maturity
- S$150.00
- You get back
- S$20,150.00
- Per month held
- S$25.00
- Over 12 months, if renewed
- S$301.13
Placement C
- Interest at maturity
- S$280.00
- You get back
- S$20,280.00
- Per month held
- S$23.33
- Over 12 months, if renewed
- S$280.00
The rates above are examples. Fixed deposit promotions change often and usually need a minimum sum (and sometimes fresh funds or a linked account), so enter the rate your bank quotes for your amount and tenure. Withdrawing before maturity usually forfeits some or all of the interest.
Singapore dollar fixed deposits with SDIC Deposit Insurance Scheme members are insured up to S$100,000 per depositor per bank, so spreading large sums across banks keeps them fully covered.
Best yield: placement A
S$80.00
- A: 3m at 1.60%
- S$80.00 (S$322/yr)
- B: 6m at 1.50%
- S$150.00 (S$301/yr)
- C: 12m at 1.40%
- S$280.00 (S$280/yr)
How this works
Fixed deposit rates in Singapore are quoted per annum and paid as simple interest at maturity. Interest = deposit × rate × months ÷ 12. S$50,000 at 3% p.a. for 6 months earns S$50,000 × 3% × 6 ÷ 12 = S$750.
Placements with different tenures are hard to compare on the interest figure alone, so each card also shows what the deposit would earn over 12 months if you renewed it at the same rate on maturity, with the interest rolled in. The highest of these is marked as the best yield.
Banks may count interest by days (actual days ÷ 365) rather than months, so their figure can differ by a few cents to a few dollars. Promotional rates change often and usually need a minimum deposit, so the rates here are inputs, not live bank rates.
Singapore dollar deposits, including fixed deposits, with members of the Deposit Insurance Scheme are insured by SDIC up to S$100,000 per depositor per bank (raised from S$75,000 on 1 April 2024).
FAQs
How much interest will S$50,000 earn in a 6-month fixed deposit?
At 3% p.a., S$50,000 placed for 6 months earns S$750 at maturity. Fixed deposit rates are quoted per year, so a 6-month placement earns half the yearly rate.
How is fixed deposit interest calculated in Singapore?
Deposit × annual rate × tenure in months ÷ 12, paid at maturity. S$100,000 at 2.5% p.a. for 12 months earns S$2,500.
Is a 3-month fixed deposit at a higher rate better than a 12-month one?
Only if you can renew at a similar rate. S$20,000 at 1.6% for 3 months, renewed four times at the same rate, earns about S$322 in a year, versus S$280 for 12 months at 1.4%. If rates fall when it matures, the 12-month placement can come out ahead.
Are fixed deposits in Singapore insured?
Yes. Singapore dollar fixed deposits with SDIC scheme members (the full banks and finance companies) are insured up to S$100,000 per depositor per bank. Foreign currency and structured deposits are not covered.