Best 24-Month Fixed Deposits Singapore 2026
Secure your financial future with Singapore's highest 24-month fixed deposit rates. Perfect for long-term savings goals and maximizing guaranteed returns over 2 years.
Long-Term Focus: 24-month FDs offer the best balance of attractive rates and reasonable lock-in periods for substantial wealth accumulation.
Current 24-Month Fixed Deposit Rates
| Bank | Interest Rate | Minimum Amount | Total Interest* | Promotion |
|---|---|---|---|---|
Hong Leong Finance Finance Company | 3.25% p.a. | S$5,000 | S$650 | Limited time offer |
MariBank Digital Bank | 3.15% p.a. | S$1,000 | S$630 | New customer rate |
Trust Bank Digital Bank | 3.10% p.a. | S$1,000 | S$620 | Promotional rate |
UOB Local Bank | 2.95% p.a. | S$10,000 | S$590 | Standard rate |
DBS Local Bank | 2.90% p.a. | S$1,000 | S$580 | Standard rate |
OCBC Local Bank | 2.85% p.a. | S$1,000 | S$570 | Standard rate |
Standard Chartered Foreign Bank | 2.75% p.a. | S$10,000 | S$550 | Standard rate |
*Total interest earned on S$10,000 deposit for 24 months
🏆 Highest 24-Month FD Rate
Hong Leong Finance Fixed Deposit
3.25% p.a. with minimum S$5,000 deposit
24-Month FD Rate Trends & Analysis
Interest Rate Environment
Current Market (2026)
Rates have stabilized around 2.8-3.2% for 24-month terms as central banks maintain steady monetary policy. Finance companies offer slight premiums.
Historical Context
Current rates are significantly higher than the 2020-2022 period (0.5-1.0%) but below pre-2008 levels when rates exceeded 4.0% for long-term deposits.
Future Outlook
Economists expect rates to remain stable through 2026, making current 24-month terms attractive for locking in today's rates.
Rate Comparison by Institution
24-Month FD Investment Strategies
Conservative Strategy
- • Stick to major banks (DBS, OCBC, UOB)
- • Accept slightly lower rates for security
- • Full SDIC coverage up to S$75,000
- • Ideal for retirement funds
- • Lower minimum deposits
Balanced Strategy
- • Mix digital banks and traditional banks
- • Higher rates with established institutions
- • Diversify across multiple banks
- • Monitor promotional rates
- • Good for medium-term goals
Aggressive Strategy
- • Chase highest rates from finance companies
- • Accept higher minimum deposits
- • Research institution stability
- • Maximum return optimization
- • Regular rate monitoring
The Power of 24-Month Fixed Deposits
Interest Earnings Comparison
S$25,000 Investment
S$100,000 Investment
vs Other Investment Options
24-Month FD vs Alternatives
Risk Consideration
Fixed deposits offer guaranteed returns with capital protection, while investments in stocks or bonds carry market risk but potentially higher returns.
Deposit Insurance & Safety
SDIC Coverage
Singapore Deposit Insurance Corporation
- • Coverage up to S$75,000 per depositor per bank
- • Covers all DBS, OCBC, UOB deposits automatically
- • Includes Trust Bank and MariBank deposits
- • Protection applies to fixed deposits
- • No premium paid by depositors
Finance Companies
Finance companies like Hong Leong Finance are not covered by SDIC. They typically offer higher rates but carry different risk profiles. Research their financial stability before depositing large amounts.
Maximizing SDIC Protection
Single Bank Strategy
Deposit up to S$75,000 in one bank for full SDIC protection. Suitable for most individual savers.
Multi-Bank Strategy
Spread S$75,000 across multiple banks (DBS, OCBC, UOB, Trust Bank, MariBank) for up to S$375,000 total SDIC coverage.
High Net Worth Strategy
Consider mixing SDIC-covered deposits with finance companies, Singapore Government Securities, or other investment vehicles.
How to Apply for 24-Month Fixed Deposits
Research & Compare
Compare rates, terms, and institution safety. Consider SDIC coverage for large deposits.
Prepare Documents
Gather NRIC, proof of funds, and bank statements. Some institutions require income proof.
Submit Application
Apply online or visit branch. Digital banks offer fully online applications.
Fund & Confirm
Transfer funds and receive confirmation. Your deposit is locked for 24 months.
Digital Bank Applications
- • Fully online application process
- • Faster approval (usually same day)
- • Lower minimum deposits
- • Competitive promotional rates
- • 24/7 application availability
Traditional Bank Applications
- • In-person or online options
- • Relationship manager assistance
- • Integration with existing accounts
- • Established track record
- • Physical branch support
Expert Tips for 24-Month Fixed Deposits
Maximizing Returns
- • Lock in rates when interest rate cycle peaks
- • Consider finance companies for higher rates
- • Monitor promotional rates from digital banks
- • Diversify across multiple institutions
Risk Management
- • Stay within SDIC limits for guaranteed protection
- • Only deposit funds you won't need for 2 years
- • Research finance company stability
- • Keep emergency funds separate and liquid
Ready to Secure Your 24-Month Fixed Deposit?
Compare Singapore's best 24-month fixed deposit rates and start building long-term wealth today.