ocbc fixed deposit rate in singapore 2023

By doing so, you’ll be able to make an informed decision that will give you the highest return on investment possible while ensuring your savings are protected from market fluctuations or economic downturns. It’s important to understand these factors before investing your hard-earned money into a fixed-deposit account. Therefore, higher inflation leads to higher FD rates as banks try to keep up with inflation and ensure customers get a return on their investment at least equal to the inflation rate. When market interest rates fall, banks tend to lower their FD rates as well since they rely heavily on the market rate for guidance in setting their own deposits rate.Īdditionally, inflation plays a role in determining fixed deposit rates in Singapore, as it affects how much purchasing power a certain amount of money will have over time. This is because FDs act as an alternative to savings accounts and other deposit accounts. Generally, when market interest rates go up, so do FD rates. Interest rate trends are a major factor influencing FD rates.

But what are the factors that influence FD rates? With fixed deposit, you can rest assured that your money is in good hands. Saving money can be one of the most rewarding feelings, especially when you know that your hard-earned cash is safe and secure. It is important that you shop around and compare different banks to get the best rate possible. By investing in a fixed deposit account, you will be able to benefit from higher interest rates over time, which can help you grow your savings.

They are a popular option for investors looking to earn higher returns on their investments without taking on any additional risk. Will the trend continue? Your guess is as good as mine.įixed deposit rates are an important factor for those who want to invest their money in a safe and secure manner. In recent months, the FD rates have been on the rise, partly due to the the rising global inflation and market interest rates. Understanding Fixed Deposit Accounts & Ratesįixed Deposit (FD) is an investment product that provides investors with a guaranteed return for a fixed amount of time. The minimum deposit required to enjoy the promotional FD rates.įresh Funds are often required, not transferred from the bank’s existing savings/current/fixed deposit accounts. The banks & financial institutions included are:Ĭlicking on them brings you directly to their official fixed deposit promotion page.

Ocbc fixed deposit rate in singapore 2023