The Singapore banks today are run differently as they are profits oriented. If you have old parents who do not know how to read (like mine), make sure you help them to manually transferred out their money to another banks so that they can always get the highest rate at the point of time.

Look at the miserable auto renewal fixed deposit rate of 0.70 per cent my mother gets for being a loyal bank customer.

Once you step into the banks, most of the time, you can see their service staff hawking investment or insurance products which they some how insist on calling it as saving plans. Oh my God!

Best Fixed Deposit Rates in Singapore

Normally, I will check the website of the foreign bank interest rates like Maybank or CIMB as I noticed they tends to offer a higher fixed deposit rate as compare with our local banks like DBS, UOB or OCBC. Lastly, finance companies like Hong Leong Finance also tends to offer better fixed deposit rates.