![]() This simplicity, coupled by its familiarity, makes fixed deposits an easy choice to invest your money (with the interest rates are attractive enough). ![]() The odds are that if you are a Singaporean, you would already have at least one bank account (likely one of the 3 major banks: DBS/POSB, OCBC, UOB) and know that banks offer fixed deposits.įixed deposits are also a relatively simple financial instrument to understand – you put your money in a fixed deposit, lock it in for the stipulated period, and collect higher interest instead of putting it in a savings account or holding it as cash. Offered by many traditional Financial Institutions (FI) such as banks, fixed deposits have been a staple for Singaporeans, including the older generation or those who are not as financially savvy. ![]() Read Also: Beginners’ Guide To Fixed Deposits In Singapore Fixed Deposits Are Easily Accessible And Familiar ![]()
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