Earn up to 2.50% interest: Singapore's best fixed deposit rates this May 2025
SINGAPORE: Singapore banks are now offering fixed deposit rates of up to 2.50%, making it a good time for savers to lock in their funds, with minimum deposits starting from just S$500. May 2025 highest fixed deposit rates Syfe Cash+ Guaranteed Interest Rate: 2.50% p.a. Commitment Period: 3 months Minimum Amount: No minimum
StashAway Simple Guaranteed Interest Rate: 2.45% p.a. Commitment Period: 3 months Minimum Amount: No minimum
DBS Interest Rate: 2.45% p.a. Commitment Period: 12 months Minimum Amount: S$1,000
Maybank Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch) Commitment Period: 6 months Minimum Amount: S$20,000
State Bank of India Interest Rate: 2.35% p.a. Commitment Period: 6 months Minimum Amount: S$50,000
Bank of China Interest Rate: 2.30% p.a. (via mobile banking) Commitment Period: 3 months Minimum Amount: S$500
ICBC Interest Rate: 2.30% p.a. (via e-banking) Commitment Period: 3 months Minimum Amount: S$500
Citibank Interest Rate: 2.30% p.a. (T&Cs apply) Commitment Period: 3 months Minimum Amount: S$10,000
CIMB Interest Rate: 2.20% – 2.25% p.a. Commitment Period: 3 months Minimum Amount: S$10,000
Hong Leong Finance Interest Rate: 2.05% p.a. (online fixed deposit special) Commitment Period: 7 months Minimum Amount: S$20,000
RHB Interest Rate: 2.00% – 2.10% p.a. Commitment Period: 3 months or 6 months or 12 months Minimum Amount: S$20,000
UOB Interest Rate: 2.00% p.a. Commitment Period: 6 months Minimum Amount: S$10,000
HSBC Interest Rate: 2.00% p.a. (Premier and Premier Elite customers with wealth holdings) Commitment Period: 3 months Minimum Amount: S$30,000
Standard Chartered Interest Rate: 1.95% – 2.05% p.a. Commitment Period: 5 months Minimum Amount: S$25,000
OCBC Interest Rate: 1.90% p.a. (internet banking) Commitment Period: 9 months Minimum Amount: S$30,000
May 2025 best fixed deposit rates by commitment period 3-Month commitment period: Syfe Cash+ Guaranteed Interest Rate: 2.50% p.a. Commitment Period: 3 months Minimum Amount: No minimum
StashAway Simple Guaranteed Interest Rate: 2.45% p.a. Commitment Period: 3 months Minimum Amount: No minimum
ICBC Interest Rate: 2.30% p.a.(via e-banking) Commitment Period: 3 months Minimum Amount: S$500
Bank of China Interest Rate: 2.30% p.a.(via mobile banking) Commitment Period: 3 months Minimum Amount: S$500
Citibank Interest Rate: 2.30% p.a. (T&Cs apply) Commitment Period: 3 months Minimum Amount: S$10,000
CIMB Interest Rate: 2.20% – 2.25% p.a. Commitment Period: 3 months Minimum Amount: S$10,000
RHB Interest Rate: 2.00% – 2.10% p.a. Commitment Period: 3 months Minimum Amount: S$20,000
HSBC Interest Rate: 1.55% p.a. (personal banking customers) Commitment Period: 3 months Minimum Amount: S$30,000
6-Month commitment period: Maybank Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch) Commitment Period: 6 months Minimum Amount: S$20,000
Syfe Cash+ Guaranteed Interest Rate: 2.40% p.a. Commitment Period: 6 months Minimum Amount: No minimum
State Bank of India Interest Rate: 2.35% p.a. Commitment Period: 6 months Minimum Amount: S$50,000
StashAway Simple Guaranteed Interest Rate: 2.25% p.a. Commitment Period: 6 months Minimum Amount: No minimum
Bank of China Interest Rate: 2.25% p.a.(via mobile banking) Commitment Period: 6 months Minimum Amount: S$500
ICBC Interest Rate: 2.25% p.a.(via e-banking) Commitment Period: 6 months Minimum Amount: S$500
Citibank Interest Rate: 2.20% p.a. (T&Cs apply) Commitment Period: 6 months Minimum Amount: S$10,000
DBS Interest Rate: 2.15% p.a. Commitment Period: 6 months Minimum Amount: S$1,000
CIMB Interest Rate: 2.10% – 2.15% p.a. Commitment Period: 6 months Minimum Amount: S$10,000
RHB Interest Rate: 2.00% – 2.10% p.a. Commitment Period: 6 months Minimum Amount: S$20,000
UOB Interest Rate: 2.00% p.a. Commitment Period: 6 months Minimum Amount: S$10,000
HSBC Interest Rate: 1.50% p.a. (personal banking customers) Commitment Period: 6 months Minimum Amount: S$30,000
12-Month commitment period: DBS Interest Rate: 2.45% p.a. Commitment Period: 12 months Minimum Amount: S$1,000
ICBC Interest Rate: 2.25% p.a.(via e-banking) Commitment Period: 12 months Minimum Amount: S$500
Maybank Interest Rate: 2.25% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch) Commitment Period: 12 months Minimum Amount: S$20,000
State Bank of India Interest Rate: 2.25% p.a. Commitment Period: 12 months Minimum Amount: S$50,000
Bank of China Interest Rate: 2.20% p.a.(via mobile banking) Commitment Period: 12 months Minimum Amount: S$500
Syfe Cash+ Guaranteed Interest Rate: 2.15% p.a. Commitment Period: 12 months Minimum Amount: No minimum
RHB Interest Rate: 2.00% – 2.10% p.a. Commitment Period: 12 months Minimum Amount: S$20,000
StashAway Simple Guaranteed Interest Rate: 2.05% p.a. Commitment Period: 12 months Minimum Amount: No minimum
CIMB Interest Rate: 1.90% – 1.95% p.a. Commitment Period: 12 months Minimum Amount: S$10,000
OCBC Interest Rate: 1.85% p.a. (internet banking) Commitment Period: 12 months Minimum Amount: S$30,000
HSBC Interest Rate: 1.35% p.a. Commitment Period: 12 months Minimum Amount: S$30,000
May 2025 best fixed deposit rates by minimum deposit Deposits $10,000 and under: DBS Interest Rate: 2.45% p.a. Commitment Period: 12 months Minimum Amount: S$1,000
Bank of China Interest Rate: 2.30% p.a.(via mobile banking) Commitment Period: 3 months Minimum Amount: S$500
ICBC Interest Rate: 2.30% p.a.(via e-banking) Commitment Period: 3 months Minimum Amount: S$500
Citibank Interest Rate: 2.30% p.a. (T&Cs apply) Commitment Period: 3 months Minimum Amount: S$10,000
CIMB Interest Rate: 2.20% – 2.25% p.a. Commitment Period: 3 months Minimum Amount: S$10,000
Hong Leong Finance Interest Rate: 2.00% p.a. (online fixed deposit special) Commitment Period: 7 months Minimum Amount: S$5,000
UOB Interest Rate: 2.00% p.a. Commitment Period: 6 months Minimum Amount: S$10,000
Deposits $20,000–$49,999: DBS Interest Rate: 2.45% p.a. Commitment Period: 12 months Minimum Amount: S$1,000
Maybank Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch) Commitment Period: 6 months Minimum Amount: S$20,000
Bank of China Interest Rate: 2.30% p.a.(via mobile banking) Commitment Period: 3 months Minimum Amount: S$500
ICBC Interest Rate: 2.30% p.a.(via e-banking) Commitment Period: 3 months Minimum Amount: S$500
Citibank Interest Rate: 2.30% p.a. (T&Cs apply) Commitment Period: 3 months Minimum Amount: S$10,000
CIMB Interest Rate: 2.20% – 2.25% p.a. Commitment Period: 3 months Minimum Amount: S$10,000
Hong Leong Finance Interest Rate: 2.05% p.a. (online fixed deposit special) Commitment Period: 7 months Minimum Amount: S$20,000
RHB Interest Rate: 2.00% – 2.10% p.a. Commitment Period: 3 months or 6 months or 12 months Minimum Amount: S$20,000
HSBC Interest Rate: 2.00% p.a. (Premier and Premier Elite customers with wealth holdings) Commitment Period: 3 months Minimum Amount: S$30,000
Standard Chartered Interest Rate: 1.95% – 2.05% p.a. Commitment Period: 5 months Minimum Amount: S$25,000
OCBC Interest Rate: 1.90% p.a. (internet banking) Commitment Period: 9 months Minimum Amount: S$30,000
See also Best fixed deposit rates in Singapore for Feb 2024 Deposits $50,000 and above: DBS Interest Rate: 2.45% p.a. Commitment Period: 12 months Minimum Amount: S$1,000
Maybank Interest Rate: 2.45% p.a. (via Maybank2u Online Banking, Maybank2u SG app or in branch) Commitment Period: 6 months Minimum Amount: S$20,000
State Bank of India Interest Rate: 2.35% p.a. Commitment Period: 6 months Minimum Amount: S$50,000
Bank of China Interest Rate: 2.30% p.a.(via mobile banking) Commitment Period: 3 months Minimum Amount: S$500
ICBC Interest Rate: 2.30% p.a.(via e-banking) Commitment Period: 3 months Minimum Amount: S$500
Citibank Interest Rate: 2.30% p.a. (T&Cs apply) Commitment Period: 3 months Minimum Amount: S$10,000
CIMB Interest Rate: 2.20% – 2.25% p.a. Commitment Period: 3 months Minimum Amount: S$10,000
Hong Leong Finance Interest Rate: 2.05% p.a. (online fixed deposit special) Commitment Period: 7 months Minimum Amount: S$20,000
RHB Interest Rate: 2.00% – 2.10% p.a. Commitment Period: 3 months or 6 months or 12 months Minimum Amount: S$20,000
HSBC Interest Rate: 2.00% p.a. (Premier and Premier Elite customers with wealth holdings) Commitment Period: 3 months Minimum Amount: S$30,000
/TISG
Read also: Earn up to 2.90% interest: Singapore's best-fixed deposit rates this April 2025
Disclaimer: Rates are promotional and subject to change. For the most current rates, visit the respective bank websites
Featured image by Depositphotos (for illustration purposes only)
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What do I do next? I had been involved in the family business for 15 years. No, not just that – I was in the family business since young when we were 'holiday cashiers' downstairs,' she laughed. 'When my father said to tag along on deliveries to help carry furniture or that the warehouse needed help, we'd just go.' Perth's laid-back lifestyle and the opportunity to start anew rekindled her adventurous, independent spirit. 'Luckily, my dad was himself a migrant, so he was very supportive. I think my family also knew I was a bit 'different',' Mabel chuckled. CREATING A LANDMARK Five years ago, her mind began to wander again. 'My properties were spread all over Perth, so managing them was logistically very tough. I thought: How can I keep doing what I have been doing – but differently?' Mabel considered entering the short-stay apartment market, but she didn't want to create another cookie-cutter offering. Those had basic interiors – she wanted something lifestyle-driven, like a boutique hotel. 'It had to be five-star quality. I also wanted guests to come in and feel at home,' she elaborated. The result was a rebranded business: Manaa Properties. ''Manaa' because this project is a gift from God (manna symbolises spiritual food in the Bible), and 'M' because of my name,' Mabel laughed. Its first project, Forbes Residences, opened in mid-2024. The mixed-use development includes ground-level retail, 34 luxury residences, and a 27-unit short-stay component called Manna Living – a modern take on the Lims' hospitality legacy. The AUD$90 million (US$58.22 million; S$74.95 million), 13-storey building in Applecross, a prestigious Perth suburb in the affluent Kintail Quarter Precinct, is a joint venture by Manaa Properties, Australia's Mustera Property Group, and Singapore-based architecture firm WOHA, co-founded by Wong Mun Summ and Richard Hassell. WOHA is renowned for projects like Alila Villas Uluwatu in Bali and ParkRoyal Collection Pickering in Singapore. Mabel's focus on the corporate market contributed to Manna Living's rapid success. 'These guests come to Perth to work on projects, staying for up to a week or even a month,' she said, sharing that bookings can stretch up to 10 apartments at a time. The building's curvaceous form has also earned it accolades as a new architectural landmark in Perth, with design by WOHA in collaboration with Perth-based MJA Studio. PERFECT PARTNERSHIPS The project was particularly meaningful for Richard. 'Mustera Property Group thought that as architect [formerly from Perth], I might be interested in doing a project in my hometown – and they were right!' said the architect, who was introduced to Mabel by the developer. He saw Forbes Residences as a chance to adapt WOHA's design principles to a new context, based on the firm's long-standing research into tropical high-rise living. 'Density doesn't have to mean losing character; it can enhance it. High density can mean creating more space vertically and our question was: What if instead of just housing more people, we could offer more of what we love about Applecross – more Jacaranda trees, more gardens, more community spaces, more lifestyle choices?' Richard mused. That idea shaped everything – from the villa-in-a-garden concept to integrated public amenities and lush, naturally ventilated common corridors draped with greenery. This is Forbes' first green building of its kind. To create Manna Living's homely interiors, Mabel partnered with Andrea Savage, founder of A Life by Design – Living & Branding, the interior division of the A Life By Design Group. 'My relationship with the Lim family dates back to the early 2000s when I first moved to Singapore from Australia. I have Wendy (Mabel's sister) to thank for the introduction. Wendy and I have known each other for over two decades now,' said the designer. They immediately bonded over a love for beautiful fabrics, cushions and more. 'Wendy, a textile entrepreneur with an incredible eye for detail, transformed my first home with bespoke designs and good craftmanship. We've been collaborating ever since,' Savage recalled. Creativity runs in the Lim family. Both Wendy and Mabel's mother have long contributed to Lims Arts & Crafts with soft furnishings. Even at 89, their mother still handmakes lampshades. ROAD TO SUCCESS Savage's vision for the apartments was to create 'spaces that foster rest and rejuvenation, embody understated elegance and connect to the elements while remaining durable and purpose-fit.' Australia's distinct natural landscapes inspired the palette and decorative touches. Richard also drew from local context, referencing Swan River's limestone foundations in the building's custom cladding. I asked Mabel if she was satisfied with the project. She replied that it's 'one of the most talked-about projects in Perth right now' – not just for its singular design but also for its strong sustainability credentials, and flowing greenery. View this post on Instagram A post shared by Forbes Residences (@forbesresidences) The project was a leap of faith. 'My other holiday homes are in this area, so I know this market well. Applecross is like Bukit Timah in Singapore. It's the most exclusive address on the south side of Swan River,' she explained. The location is just a short walk to the river, five minutes from the CBD, and 20 minutes from the airport. Many Manna Living guests who initially booked one or two nights end up extending their stay. 'Occupancy is good. It rates 9.1 on and 4.5 on Airbnb,' Mabel revealed happily. This success is paving the way for future projects in Perth, including a more youthful version of Manna Living with communal areas like a lounge, games zone, and gym. PAST, PRESENT, FUTURE Reflecting on the family furniture business, Mabel shared that the customer base has shifted more towards expats than professionals, requiring a new approach like social media marketing – something the younger generation of the Lim family assist with. 'The main challenge is to maintain our good price points amid rising costs in transport, logistics, warehousing, and rental, which we have maintained through regular orders with the manufacturer,' she said. In March 2025, Lims Legacy expanded into Malaysia with a store in Johor Bahru. CP's willingness to evolve and take risks clearly runs in the family. His children are all very entrepreneurial. Mabel's younger sister Rosalind has been running a boutique called Made in Paradise in Holland Village for seven years, selling imported jewellery. Her brother, Richard, founded Canopy Villa Group during the pandemic, offering glamping accommodations. It now has four properties in Malaysia and one in Vietnam.
