Fixed Deposit Calculator Singapore: Compare Rates & Net Returns

You’ve probably seen those eye-catching fixed deposit rates plastered across bank websites—3.20% p.a., 3.50% p.a., maybe higher. But what you actually take home after penalties and minimum balance rules can look very different. This guide shows you how to use a fixed deposit calculator to compare real net returns across Singapore banks, from DBS to Trust Bank, so you can make a more informed decision.

SDIC insurance coverage: Up to SGD 100,000 per depositor per bank ·
Typical FD tenor range: 1 month to 60 months ·
Interest payment: At maturity or monthly (depending on bank)

The table below summarizes key facts about fixed deposits in Singapore.

Which bank in Singapore has the highest FD interest rate?

According to a September 2026 rate roundup, promotional fixed deposit rates from major Singapore banks remain in the range of 1.20% to 2.00% p.a. for common tenors (Syfe Magazine). However, some banks reportedly offer higher rates—InterestRates.sg, a Singapore rate comparison site, reports that Trust Bank offers 3.40% for 6 months and 3.50% for 12 months, while DBS offers 3.20% for 6 months and 3.20% for 12 months (InterestRates.sg). But these higher figures may be promotional and subject to conditions.

Which bank gives 9.5% interest on FD?

• No bank in Singapore currently advertises a 9.5% fixed deposit rate (Syfe Magazine). Such rates would be far above market levels.

Which bank gives 7% interest on FD?

• Similarly, 7% FD rates are not offered by any major Singapore bank as of September 2026 (Syfe Magazine).

The pattern: The highest advertised rates cluster around 3.5% p.a. for 12-month tenors at digital banks like Trust Bank, while traditional banks such as DBS and UOB hover around 3.2% for similar periods. Always verify the terms, especially minimum deposit amounts and whether the rate is for fresh funds only.

How much FD will give $10,000 per month?

The calculation is straightforward: monthly income = (principal × annual interest rate) / 12. For example, to earn $10,000 per month at a 3% p.a. rate, you would need roughly $4,000,000 in principal. At current top rates around 3.5% p.a., the required principal drops to about $3,428,571. These figures assume no early withdrawal and that interest is paid out monthly (InterestRates.sg).

How much FD will give $50,000 per month?

• At 3% p.a., you’d need about $20,000,000 in fixed deposits. At 3.5% p.a., about $17,142,857.

How to calculate monthly income from a fixed deposit

• Use a fixed deposit calculator: enter deposit amount, interest rate, and tenor. Many calculators show total interest earned or monthly payout (InterestRates.sg).

The implication: To generate significant monthly income from FDs in Singapore, you need a very large principal. For most savers, a combination of FDs and other instruments may make more sense.

Is FD 100% safe?

Fixed deposits in Singapore are considered low risk, but not risk-free. The Singapore Deposit Insurance Corporation (SDIC) insures up to SGD 100,000 per depositor per bank (Syfe Magazine). This means if a bank fails, you get back up to that amount. FD principal is not exposed to market fluctuations; you will not lose money due to rate changes. However, the risk lies in bank default, which is extremely rare among MAS-regulated banks.

Can hackers take money from FD?

• Hackers cannot directly access FD funds without breaching bank security systems. FD accounts are protected by the same safeguards as savings accounts (DBS Singapore).

Can FD go in loss?

• FD principal does not go down in value. The only loss scenario is bank failure beyond the SDIC limit, or if early withdrawal penalties are severe (InterestRates.sg FD guide).

Why this matters: While FD is one of the safest savings vehicles, the SDIC cap means you should spread deposits across banks if you have more than SGD 100,000.

What is the disadvantage of FD?

Low liquidity vs savings account

• Funds are locked for the tenor. Emergency access is possible but comes with a penalty (DBS Singapore).

Early withdrawal penalty

• Most banks forfeit all interest earned and may charge a penalty fee, sometimes up to 2% of the principal (InterestRates.sg FD guide). However, ICBC Singapore imposes no penalty—withdrawal simply earns the prevailing current account rate (ICBC Singapore).

Inflation risk

• FD returns may be lower than inflation over long tenors, eroding purchasing power. For example, if inflation is 2.5% and your FD earns 1.5%, you lose value in real terms (Growbeansprout).

The trade-off: FD offers safety and predictability, but you trade liquidity and potential inflation-beating returns. Weigh these against your time horizon and need for emergency access.

What happens if an FD holder dies?

If the FD account has a nomination, the funds transfer directly to the nominee without going through probate. Without nomination, the FD becomes part of the estate and is distributed according to the will or intestacy laws (DBS Singapore).

Can I withdraw my FD immediately?

• Immediate withdrawal before maturity is possible but incurs a penalty—typically forfeiting interest. Some banks may also charge a fee (POSB Singapore).

Can I keep 20 lakhs in FD?

• There is no cap on FD deposit amount in Singapore banks. However, only SGD 100,000 per depositor per bank is insured by SDIC. Depositing 20 lakhs (SGD 2,000,000) is allowed, but you should spread across banks to keep each under the SDIC limit (Syfe Magazine).

What this means: Nomination simplifies inheritance. Large deposits require multi-bank allocation to retain full SDIC coverage.

One pattern emerges: digital banks like Trust Bank offer the highest headline rates, while traditional banks require larger minimum deposits. Here’s a comparison of reported rates as of September 2026.

The catch: Rates from Trust Bank, DBS, UOB, and HSBC come from InterestRates.sg and may not be current. Citibank rate from Syfe Magazine. Always confirm with the bank directly.

How to Use a Fixed Deposit Calculator

1. Enter your deposit amount. Most calculators accept any amount above the bank’s minimum.
2. Choose the tenor. Options range from 1 month to 60 months.
3. Input the interest rate. Use the rate advertised by the bank for your chosen tenor.
4. Set interest payout frequency. Monthly, quarterly, or at maturity affects total return.
5. Click calculate to see total interest and monthly income.

What’s Confirmed vs Unclear

For premature withdrawals of SGD fixed deposits, any interest will be calculated at the bank’s lowest applicable deposit rate.

DBS Singapore (bank guidance)

There is no penalty for premature withdrawal of a fixed deposit; payment is based on the prevailing current account interest rate.

ICBC Singapore (bank policy)

The real value of a fixed deposit calculator in Singapore is not just comparing rates—it’s understanding what you’ll actually walk away with after early withdrawal penalties, minimum balances, and SDIC coverage limits. For the average saver, the choice is clear: use a calculator to model multiple scenarios, spread deposits across banks if you have more than $100k, and never assume the advertised rate tells the whole story. Otherwise, you risk losing returns to penalties you didn’t account for.