Fixed Deposit Rates Update - 1.368% P.A.at Singapura Finance

First some clarifications: Fixed Deposit is not for real investment.  My review on Singapore's FD is limited to S$50,ooo and below; and tenure term not exceeding 12 months.  Fixed Deposit is for parking the emergency fund and allowing immediate access to the fund when needed.  These are also based on the following considerations:

1. Singapore's Deposit Insurance Scheme maximum coverage up to S$50,ooo only.

2. Long tenure term will potentially affect your cash-out value for your emergency fund, as you may suffer a penalty fee for early withdrawal.

Back to the update:    

With all the talks about higher interest rates, the FD interest rates in Singapore do move slowly higher since my last update in February (highest was 1.18% back then).  The highest interest rate in the market now is 1.368% p.a., offered by Singapura Finance:

Singapura Finance 

The promotional interest rate is 1.368% p.a. for 12 months tenure, for a placement sum >$50,000 and <$100,000.  So you could enjoy 1.368% if you place deposit for $50,001.

This promotion (ending 31st Dec) is not found on their website, but there is a leaflet displayed on their branch door.

There are few branches of Singapura Finance in Singapore:
1. City HQ (150 Cecil Street #01-00),
2. Ang Mo Kio branch (Blk 711, Ang Mo Kio Avenue 8),
3. Bedok branch (Blk 202, Bedok North St. 1),
4. Woodlands branch (Blk 302, Woodlands Street 31),
5. East Coast branch (212 East Coast Road),
6. Serangoon branch (Blk 101, Towner Road),
7. Jurong West branch (Blk 501, Jurong West Street 51).


Please let me know if there is better offer in the market.