Glossary · product
Fixed Deposit
Also known as: time deposit, FD
- Definition
- A fixed deposit is a savings instrument with a fixed interest rate and fixed maturity term, typically 1–24 months. Singapore private banks offer multi-currency fixed deposits with tiered rates by amount and tenor.
Fixed deposits at Singapore private banks typically require minimum S$50,000–250,000. Rates vary by currency (SGD, USD, AUD, EUR, GBP), tenor, and bank. Useful as cash-management complement to investment portfolios. SDIC deposit-insurance scheme covers up to S$100,000 per depositor per scheme member; balances above this are unsecured bank credit exposure.
Related
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