1-year fixed deposits in 2026: See what the current rates are
Many savers in Singapore are looking into secure ways to grow their savings without exposure to market swings. Fixed-term deposits remain a popular option for those who want predictable returns and capital protection in Singapore Dollars within a defined period of time.
Putting money into a fixed-term deposit continues to be a straightforward way for individuals in Singapore to earn interest in Singapore Dollars (SGD) while keeping their principal secure. As banks adjust their offerings heading into 2026, understanding how these products work and what rates look like can help savers make informed decisions.
What Is A Fixed-Term Deposit?
A fixed-term deposit is a savings product where you commit a lump sum, typically in SGD, for a set period ranging from one month to several years. In exchange for locking in your funds, banks offer a fixed interest rate that is usually higher than a regular savings account. Early withdrawal often results in reduced interest or penalties, so it is important to only commit funds you will not need during the term.
What Is The Current Interest Rate Environment?
Interest rates for SGD-denominated fixed deposits fluctuate based on broader economic conditions, including central bank policies and market liquidity. In recent years, Singapore has seen periods of both rising and stabilizing rates, influenced by global monetary trends. Banks typically review their fixed deposit rates periodically, meaning the rate you see today could differ from what is offered in a few months. Savers should check with individual institutions directly for the most up-to-date figures before committing funds.
What 1-Year Term Deposit Options Are Available?
Most major banks in Singapore offer a range of 1-year term deposit options in SGD, with minimum deposit amounts that vary by institution. These products are popular because they strike a balance between earning a reasonable return and maintaining some flexibility compared to longer-term commitments. Some banks also run promotional rates for new funds or larger deposit amounts, which can make a noticeable difference in overall returns over the course of a year.
How Do Fixed Deposits Compare Across Banks?
Comparing fixed deposit rates across different banks can help savers identify which option suits their financial goals. Rates can vary depending on deposit size, tenure, and whether the funds are new money or existing balances. Below is a general comparison based on typical benchmarks observed in the market, with all deposits denominated in Singapore Dollars (SGD).
| Product/Service | Provider | Cost Estimation (SGD) |
|---|---|---|
| 1-Year Fixed Deposit | DBS Bank | Approximately 1.5% to 2.5% per annum on SGD deposits |
| 1-Year Fixed Deposit | OCBC Bank | Approximately 1.6% to 2.6% per annum on SGD deposits |
| 1-Year Fixed Deposit | UOB | Approximately 1.5% to 2.5% per annum on SGD deposits |
| 1-Year Fixed Deposit | Standard Chartered | Approximately 1.7% to 2.7% per annum on SGD deposits |
Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.
What Should Savers Consider Before Committing Funds?
Beyond the headline interest rate, savers should look at factors such as minimum deposit requirements in SGD, early withdrawal penalties, and whether interest is paid out monthly or at maturity. Some banks offer tiered rates depending on deposit size, meaning larger SGD sums may earn a higher percentage. It is also worth checking whether a bank requires you to be an existing customer or maintain other products with them to access their best fixed deposit rates.
Fixed-term deposits remain a dependable choice for those prioritizing capital preservation and predictable SGD returns over higher-risk investment options. As 2026 approaches, rates will likely continue to shift in response to economic conditions, making it worthwhile to periodically review offers from different banks before renewing or opening a new term deposit. Taking the time to compare options and read the fine print can help savers make the most of their fixed deposit placements.
