There is no doubt that the financial difficulties in the US has more or less affected the risk appetite of common people in Singapore. For those who have become more risk averse, Singapore dollar fixed deposit seems like the way to go. So what’s the latest fixed deposit rate and how safe is this?
How Safe is S$ Fixed Deposit?
Under the deposit insurance scheme, your Singapore dollar deposits in savings, current and fixed deposit accounts with a full bank or finance company in Singapore have a total coverage of up to S$20,000 per institution.
Basically, if it fails, you should be compensated for the first S$20,000.
Fixed Deposit Rate of Full Banks
Since Singapore fixed deposit account with full banks in Singapore are protected under the deposit insurance scheme, we have compiled the latest Singapore dollar fixed deposit rate of 8 full banks for you in the link found below.
Visit SGD Fixed Deposit Interest Rate Comparison for latest rates.