I rank my top 3 best fix deposits on tenure and rate per annum. Minimum and maximum amount are also taken into consideration. Fix deposit is useful during uncertain times as it guarantees at least some growth for your idle cash. It is usually used when one is unable to find better alternatives to invest in.
3) UOB promotional 8 month tenure 1.25% interest rate is my third choice. Minimum of $20,000 in fresh funds is needed. Its tenure - interest rate ratio is one of the most attractive now out there.
2) Maybank promotional rate from 1 October to 31 December 2014 comes in second. If you have 50k of idle cash, this gives the higest interest rate for 12month tenure at 1.35% per annum. It also gives you an option to scale for higher interest at 18 and 24 month tenure to 1.45% and 1.55% respectively.
1) ICBC takes my number one spot. It is better compared to Maybank because of its minimum amount. 5000 and above gives you at least 1.35% interest for a 12months tenure. It also gives you an option to scale up for the same tenure to 1.4% if you put in 200k or more.
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