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Fixed Deposit Account - Singapore Dollar & Foreign Currency
At a Glance
Flexible choice of tenors
Place your Fixed Deposits in a few taps
Start growing your money on digibank, anytime.
Waiting for investment opportunities? Enjoy returns on your foreign currencies in the meantime, with up to 4.97%* p.a. interest on USD, GBP, HKD and AUD Fixed Deposits. Place your Fixed Deposits instantly on digibank.
*Rates reflected as of 16 June 2023. T&Cs apply
Fixed Deposit interest rates
Foreign Currency Fixed Deposit Interest rate:
View the latest Foreign Currency Fixed Deposit rates here.
Singapore Dollar Fixed Deposit Interest rates:
View the latest Singapore Dollar Fixed Deposit rates here.
A Premier Income Account (PIA) is a Singapore Dollar Fixed Deposit account for those 55 years or older, with a minimum initial deposit of SGD10,000.
Please note that this is only applicable for Singapore Dollars Fixed Deposit.
PIA Features & Benefits
- Choice of tenors from 6 months
- Earn additional 0.10% p.a. interest*, on top of the prevailing board rate for your deposits
- Automatic renewals: Upon maturity, your deposit will be automatically renewed for the same tenor at the prevailing interest rate.
*Rates are subject to change without prior notice
How to place a deposit on your digibank app
Eligibility & Fees
Fixed Deposit account holders must be at least 18 years old.
Please refer to the Deposits Guide for services charges applicable for deposits and withdrawals.
If you are an existing POSB customer, you can apply for your Fixed Deposit Account on digibank.
Alternatively, follow these steps to apply for your Fixed Deposit Account on the digibank app.
Are you new to POSB?
Open My Account instantly on your digibank app
Download digibank app
You can view our full range of POSB accounts available to you. For customers without Singpass, please prepare these required documents to open My Account.
* Instant account opening using Singpass applies to Singaporeans, Permanent Residents, and Foreigners with EP/SP/DP only.
Frequently Asked Questions
Total Account Balance
My FD account has an existing S$20,000 placement and I want to place another S$30,000. What is the applicable interest rate for the new S$30,000 placement?
With the new S$30,000 placement, the total FD account balance will be S$50,000 (S$20,000 + S$30,000). Hence, interest rate corresponding to the $50,000 - $99,999 range will apply. Learn More
My FD account has 2 placements which sum up to S$100,000 (S$30,000 + S$70,000). What is the applicable interest rate for each renewal?
The total FD account balance is S$100,000 (S$30,000 + S$70,000). Hence, interest rate corresponding to the $100,000 - $249,999 range will apply.
I have an existing placement of S$50,000 in my single name FD account and another S$50,000 in a joint FD account. What is the applicable interest rate for each renewal?
The placements are in different SGD FD accounts. Hence, interest rate corresponding to the $50,000 - $99,999 range will apply for each renewal.
Yes, you may select one of the following maturity instructions:
- Renew the principal and interest amounts;
- Withdraw the principal and interest amounts; or
- Renew the principal amount and withdraw the interest.
Yes, you can. However, you may earn less or no interest if you withdraw your fixed deposit before maturity. An early withdrawal fee may also be imposed. Learn More
An early withdrawal fee may be imposed. Also, you may earn less or no interest if you withdraw your fixed deposit before maturity. Learn More
There are multiple factors that determine the early withdrawal fee for a Fixed Deposit, including:
- The rate quoted on the premature withdrawal date; and
- Remaining number of days which are not fulfilled ie. from premature withdrawal date to original maturity date
Alternatively, you can access digibank (Fixed Deposit Premature Withdrawal service) on the premature withdrawal date to check if there is any applicable premature withdrawal fee for your placement.
We encourage you to place a shorter tenor FD if you foresee using your funds in the short-term. This can help you avoid any early withdrawal fee or reduction/loss of interest earned. Learn More
You can refer to our foreign currency rates here.
For personal account, only the administrator or executor of your estate can make a claim on your account. Upon receiving notification of your death, the existing maturity instructions (e.g. credit to Savings account) given previously will no longer be valid. Upon maturity, the Fixed Deposit (principal and interest) will be automatically renewed for the same tenor at the prevailing interest rate. If your Fixed Deposit Account is a joint account, the surviving account holder can claim the money in the account.
Could I opt for my personal/ joint Fixed Deposit account transactions in one consolidated statement?
We are working on creating that seamless one-glance option for you and will keep you updated.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Conversions between currencies involve fluctuations and are subject to exchange controls. If you are converting from another currency to place the deposit and intend to convert it to the original currency, exchange rate fluctuations could cause the converted amount to be less than your original amount.