Best fixed deposit rates in Singapore (July 2022) You’ll be happy to learn that the fixed deposit rates are looking up again! Fixed deposit interest rates took a hit during Covid-19 but now the rates are back to pre-Covid days! If you’ve been holding out for the interest rates to pick back up, now might be a good time to park your spare money with a bank.
Fixed deposits are extremely low risk ways to grow your money. Seriously, though, fixed deposits are great if you have a substantial amount of money lying around and you don’t want to risk investing it. Just leave it out in the open and mould will grow - FREE! - on your bread for you.
Think of it like mould on a piece of bread. You don’t need to do anything to earn this interest, just park your money with a bank. Fixed deposit (sometimes called time deposit) accounts are low-risk investments that earn you interest over a fixed commitment period.
