OCBC bank, 8-months Fix Deposit, 4.08% per annum! (Revision 02)

Revision 02 (last paragraph): updated on February 6, 2023.

This deal seems even better than the previous DBS bank fix deposit promotion.

JK Holdings: DBS bank, 5-months Fix Deposit , 3.80% per annum ! (jkfund.blogspot.com)

Hence, I had placed S$20,000 fix deposit with OCBC to enjoy this 4.08% p.a. interest for 8 months.

For now, total of S$80,000 locked in fix deposit. 

If you are OCBC Premier or Private Client, you get to enjoy additional 0.10%. That's 4.18% p.a.

I believe the fix deposit rate will continue to go up until the mid of the year 2023.

Will we see 5.00% fix deposit interest rate soon?

Revision 02: updated on February 6, 2023

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There is a trend of fix deposit rate coming down, in line of Treasury bill (T-bill) dropping below 4.00% too.

As you can see, for OCBC time deposit, the 8 months tenure is the best at 4.08%, then 12 months at 3.40% only as well as 1.30% for 36 months.

I prefer the option to receive principal and interest back to my saving account.

I decided to put S$20,000 more into OCBC fix deposit with 8 months tenure of 4.08% interest (p.a.).

S$100,000 into time deposit with different tenure of 5 months and 8 months. Total interest to be received is S$2,038. Okay la, not bad.