1. Dbs Time Deposit Hk
2. Dbs Time Deposit Rate

At a Glance

RMB-Foreign Currency combination term deposit product for our individual customers to provide one-stop solution for RMB and foreign currencies.

The following information applies to most of the banks in Singapore such as DBS, OCBC, UOB, Maybank, Standard Chartered, etc. Cheque Deposit Time. The DBS/POSB cheque deposit cut off time is 3.30 pm and the fund is usually available for use the following day after 2 pm. DBS Treasures Non-Resident Ordinary (NRO) account fixed deposit is ideal for you if you are an NRI but have sources of regular income in India such a rental property, general fixed deposits, pension, mutual fund dividends, etc. Interest earned on NRO account deposits.

Do you wish for more favorable foreign currency time deposit rates compared to what is offered in the market currently? Are you holding both RMB and foreign currencies but struggling to find a safe and secured investment option?

Introducing DBS China's innovative RMB-foreign currency combination time deposit product:

'Currency Pair' – your one-stop time deposit solution for RMB and foreign currencies.

This product is designed for:

DBS China personal banking customers

Product summary:

• A time deposit product combining RMB and foreign currencies. Available combinations include:

  RMB + USD

  RMB + AUD

• Valid Period: from 1st Mar 2021 to 31st Mar 2021

• Deposit Rate:

  Currency	Tenor	Rate(%p.a.)
  RMB	12 months	1.80
  USD		0.85
  AUD		0.65

• Deposit term is the same for RMB and foreign currencies.

• The “Currency Pair” product is a combination of RMB time deposit and FCY time deposit the value date of the RMB time deposit and the FCY time deposit must be same. The minimum deposit amount is RMB 50,000 plus USD 50,000 or RMB50,000 plus AUD50,000, while RMB time deposit amount shall not be less than USD/AUD time deposit amount, and the deposit principal amount and the tenor shall comply with the requirement of the Bank. The Principle and interest rates of RMB and FCY will be auto transferred to the respective saving account when it matures representatively.
• Time deposits placed at rates under this campaign are not auto-renewable upon maturity. Please take note of the time deposit maturity date to avoid idle funds.
• In case of any discrepancies between the Chinese and English versions of these Terms and Conditions, the Chinese version shall prevail.
• To the extent permitted by relevant laws and regulations, the Bank reserves the right to revise these Terms and Conditions or to early terminate this campaign without notice.
• These Terms and Conditions shall be governed by and construed in accordance with the laws of the People’s Republic of China.
• Please contact your relationship manager or call our hotline at 400 820 8988 if you have any queries about this campaign.

Note:

1. The above interest rates are for reference only. DBS reserves the right to alter from time to time the RMB and/or foreign currency deposit rates applicable to this product when it deems necessary. Actual rates are subject to the latest rates posted at DBS China’s outlets at the time of placement of the respective time deposits.

2. The above information serves as a brief introduction of the product. For threshold amount and detailed terms and conditions, please refer to the 'Currency Pair' placement/withdrawal application form.

How to Apply

Call our DBS 24-hour personal banking hotline at 400 820 8988

Looking for the best fixed deposits in Singapore? There are varying fixed deposit promotions in terms of interest rates, tenure period offered by the banks in June 2020.

The 1 year interest rate for July 2020 Singapore Savings Bonds has fallen as low as 0.30%, thus any of the fixed deposits promotion below will beat the Singapore Savings Bonds.

I have shared many other financial instruments that is similar to what fixed deposits can offer. They are endowment plans such as Tiq 3 Year Endowment Plan and China Taiping i-Save Plan. The benefit of these endowment plans is the guaranteed capital upon maturity which is similar to what fixed deposits offer.

Last month, I have signed up for a Singlife account, which is an insurance savings plan that offers you 2.5% p.a. for up to S$10,000. The interests paid last month was S$18.72 based on a deposit of S$10,000.

The current low interest rates offered by most banks remained unattractive to me. Nevertheless, if you still prefer traditional fixed deposits, below are the best fixed deposits promotion that I have found for June 2020. My preferred fixed deposits below is DBS and Maybank iSAVvy Time Deposit.

DBS Fixed Deposit

Interest Rate: Refer below, Minimum Placement: S$1,000, Promotion Valid Until: Not stated

Based on the interests rates published on 4th May 2020, the rates remained unchanged.

For a minimum amount of S$1,000, you can perform a fixed deposit placement with DBS. For a 12 months placement of S$10,000 at 1.40% p.a., the interest that you will receive upon maturity is S$140.

MayBank iSAVvy Time Deposit

Interest Rate: 1.20% (12 months) or 1.40% (24 months), Minimum Placement: S$25,000, Promotion Valid Until: Not stated

I found some changes to the time deposit offered by MayBank. It seems that MayBank had decided to do away with their traditional time deposit and replace with the iSAVvy Time Deposit.

This promotion is valid from 17th April 2020 onwards for a minimum placement amount of S$25,000 in iSAVvy Time Deposit via Maybank Mobile/Online Banking (for individuals only).

For a 12 months placement of S$25,000 at 1.20% p.a., the interest that you will receive upon maturity is S$300.

For a 24 months placement of S$25,000 at 1.40% p.a., the interest that you will receive upon maturity is S$704.90.

Hong Leong Finance Deposit Promotion

Interest Rate: Up to 0.95%, Minimum Placement: S$20,000, Promotion Valid Until: Not stated

For 10 months placement of S$20,000 at 0.90% p.a., the interest that you will receive upon maturity is S$150.00.

Dbs Time Deposit Hk

UOB Time Deposit

Interest Rate: 0.90%, Minimum Placement: S$20,000, Promotion Valid Until: 30th June 2020

For 10 months placement of S$20,000 at 0.90% p.a., the interest that you will receive upon maturity is S$150.00.

Dbs Time Deposit Rate

OCBC Time Deposit

Interest Rate: 0.85%, Minimum Placement: S$5,000, Promotion Valid Until: 30th June 2020

For 12 months placement of S$5,000 at 0.85% p.a., the interest that you will receive upon maturity is S$42.50.

Standard Chartered Bank Singapore Dollar Time Deposit

Interest Rate: 0.40% to 0.50%, Minimum Placement: S$25,000, Promotion Valid Until: 8th June 2020

For 6 months placement of S$25,000 at 0.40% p.a., the interest that you will receive upon maturity is S$50.

If you happen to be a priority banking customer, for 6 months placement of S$25,000 at 0.50% p.a., the interest that you will receive upon maturity is S$62.50.