Fixed Deposit Rates Update - 1.70% P.A.at CIMB Bank

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: CIMB Bank's 12-months FD rates of 1.70% p.a. for S$50,000 is currently the highest in Singapore.  

This promotion is for fresh fund only and excludes any renewal of CIMB fixed deposit.  The promotion is valid from 3- 31 July 2015.  

There are only two branches of CIMB Bank in Singapore:
1. Orchard Road (270 Orchard Road #03-02, Knightsbridge),
2. Raffles Place (50 Raffles Place #01-02, Singapore Land Tower).


Promotion Details:

Placement Amount (S$)	12-MTH SGD Time Deposits Interest Rate
S$25,000 to S$49,999	1.45% p.a.
S$50,000 to S$99,999	1.70% p.a.

The fixed desposit rates in Singapore do appear to be creeping up.  Please let me know if there is better offer in the market.