RHB Singapore Fixed Deposit: Current Rates, Safety & Comparison

You’ve probably noticed the ads: a bank promising a “high” fixed deposit rate, another one claiming the same. Sorting out which offer actually works for your savings can feel like a part-time job. This article cuts through the noise on the RHB Singapore fixed deposit, looking at its current promotional rate, how it stacks up against other banks, and what you need to know about deposit safety before you commit your cash.

Current RHB promotional rate: Up to 1.55% p.a. ·
Tenure range: 3 to 36 months ·
SDIC deposit insurance: Up to SGD 75,000 per depositor per bank

The pattern: RHB is using digital-only promotions to attract savers, but the best rates require larger deposits and mobile-app applications.

What is the RHB fixed deposit rate now?

Current RHB fixed deposit rates for various tenures

• RHB’s promotional rate for SGD fixed deposits was advertised at up to 1.55% p.a. in a December 2025 social media post (RHB Singapore (Facebook)).
• Earlier in January 2025, RHB promoted rates as high as 2.68% p.a., though that specific offer may have been a limited-time campaign (RHB Singapore (Facebook)).
• By mid-2026, comparison sites like Syfe and Dr Wealth reported RHB’s best 3-month rate at 1.40% p.a. with a minimum deposit of S$20,000.
• Tenures range from 3 to 36 months, giving you flexibility to match your savings horizon.

How to get the best rate from RHB

• Applying via the RHB Mobile App reportedly unlocks the promotional rate (RHB Singapore (Facebook)).
• Comparison articles from MoneySmart and Growbeansprout suggest that the promotional rate applies to 6- and 12-month tenures for deposits of S$20,000 and above.
• Check the official RHB website for the latest terms, as promotions change frequently.

The implication: RHB is using its mobile app as a distribution channel to attract digitally-savvy savers, but the best rates are reserved for larger deposits.

Which bank is best for fixed deposit in Singapore?

Top banks for fixed deposits

• Singapore’s fixed deposit market includes DBS, UOB, OCBC, Standard Chartered, Citibank, HSBC, and RHB, among others (YouTube comparison).
• RHB’s promotional rate of up to 1.55% p.a. is competitive, but local banks like DBS and OCBC often offer similar promotional rates for shorter tenures.
• The Institute for Financial Literacy publishes a regular comparison of fixed deposit rates across all licensed banks in Singapore.

Factors to consider: rate, tenure, minimum deposit, safety

• Rate: RHB’s 1.40% p.a. for 6-12 months (as of mid-2026) is near the top of the market (MoneySmart).
• Tenure: RHB offers 3 to 36 months, giving flexibility that some banks don’t match.
• Minimum deposit: RHB requires S$20,000 for the best rates, which is higher than some competitors’ S$1,000 minimums.
• Safety: All licensed banks in Singapore, including RHB, are covered by SDIC insurance up to SGD 75,000 per depositor per bank (Singapore Deposit Insurance Corporation).

RHB vs DBS vs OCBC vs UOB

The four banks listed below show that promotional rates cluster around 1.3-1.5% p.a., but minimum deposits and tenures vary significantly.

Which Singapore bank has the highest fixed deposit rate?

Current highest rates among major banks

• As of mid-2026, ICBC offered a promotional rate of 1.35% p.a. for a 3-month tenure for certain customers (SingSaver).
• RHB’s 1.40% p.a. for 6-12 months places it among the leaders, according to MoneySmart and Dr Wealth.
• The Institute for Financial Literacy maintains an up-to-date comparison table showing the highest rates across all financial institutions.

RHB’s position in the rate rankings

• RHB’s flat promotional rate across 3-, 6-, and 12-month tenures is unusual — most banks offer higher rates for longer tenures (StashAway).
• This means RHB’s 3-month rate is relatively attractive compared to competitors who reserve their best rates for 12-month deposits.

Banks offering promotional rates

• Promotional rates are common across the market, with banks rotating offers to attract new deposits.
• RHB’s promotional rate of up to 1.55% p.a. (advertised in late 2025) was among the highest at that time (RHB Singapore (Facebook)).
• Comparison across 6-12 month tenures shows RHB consistently near the top, but always check the latest rates before committing.

The pattern: promotional rates are a moving target. The bank that leads this month may be different next quarter, so timing matters.

Is RHB bank safe for fixed deposits?

SDIC insurance coverage explained

• Singapore’s Deposit Insurance Scheme, administered by the Singapore Deposit Insurance Corporation (SDIC), protects insured deposits up to SGD 75,000 per depositor per bank.
• This coverage applies to all full banks and finance companies in Singapore, including RHB.
• Historical documentation from Yale’s EliScholar references an older S$75,000 limit, but the current limit is S$100,000 as per SDIC’s official FAQ.

RHB’s financial strength and regulatory status

• RHB Bank Singapore is licensed and regulated by the Monetary Authority of Singapore (MAS).
• RHB’s promotional messaging explicitly pairs return claims with SDIC insurance language (RHB Singapore (Facebook)).
• The bank is backed by RHB Banking Group, one of Malaysia’s largest financial groups, providing additional stability.

Risk factors

• Fixed deposits are low-risk, but returns may lag inflation, especially in a rising interest rate environment.
• Early withdrawal penalties apply — you may lose some or all of the interest earned if you withdraw before maturity.
• Deposits above SGD 75,000 (or SGD 100,000 under current rules) are not insured by SDIC, so consider splitting large amounts across multiple banks.

The implication: RHB is as safe as any other MAS-licensed bank. The real risk isn’t bank failure — it’s locking your money away at a rate that doesn’t keep up with inflation.

Are Fixed Deposits a Good Investment?

Pros and cons of fixed deposits

Alternatives like savings accounts, bonds, T-bills

• High-yield savings accounts offer flexibility with no lock-in period, though rates are variable.
• Singapore Savings Bonds (SSB) offer higher rates for longer holding periods, with no penalty for early withdrawal.
• T-bills (Treasury Bills) have recently offered competitive rates above 3% p.a., though they require a minimum investment and are subject to auction results.

When to choose fixed deposit based on interest rate environment

• In a rising rate environment, shorter tenures (3-6 months) let you reinvest at higher rates sooner.
• In a falling rate environment, longer tenures (12-36 months) lock in current rates before they drop.
• RHB’s flat promotional rate across tenures makes it attractive in any environment, but especially when rates are expected to fall.

The trade-off: RHB’s fixed deposit is a solid choice for conservative savers with S$20,000 or more. But if you’re willing to take on a little more risk or need liquidity, alternatives may serve you better.

“Fixed deposits are a low risk investment that guarantees your investment and gives you stable returns.”

MoneySmart editorial

“We offer one of the highest rates in town.”

RHB Bank website

For the Singapore saver with S$20,000 or more to set aside for 6 to 12 months, the choice is clear: RHB’s promotional fixed deposit offers a market-leading rate with full SDIC protection. For smaller deposits or shorter timeframes, local banks like DBS or OCBC may be more practical, even at slightly lower rates. The key is matching the product to your deposit size and time horizon — not chasing the highest headline number.

For a broader perspective on how RHB’s Singapore rates stack up, see our detailed RHB fixed deposit rate comparisons across different tenures and promotions.

Frequently asked questions