Best Fixed Deposit Rates in Singapore (November 2023)
If you’re looking for alternatives to park your money, Alvin shared a strategy you can use to increase your CPF OA interest. This month, we are seeing fixed deposit rates are revised upwards slightly (or not at all), although promotions are still being run on shorter tenures. However, as rate hikes slow, we’re seeing a reversal currently: November 2023 Update on Fixed Deposit Rates: Rates are up slightly During the months when interest rates were rising, we were offered some pretty attractive fixed deposit rates by banks in Singapore. Hence, although they have been dissed at because of low rates, we saw a change in the narrative recently. They let you grow your money at a fixed rate over a period of time (referred to as ‘tenure’ or ‘tenor’).įixed deposits interest rates tend to follow the current market’s interest rate. Fixed Deposits aka Time Deposits are interest generating bank accounts with a pre-determined maturity.
