Time deposit (Fixed deposit)

Secure higher returns for your money

Why you will love this

Your choice of a foreign currency or SGD time deposit

Enjoy higher interest compared to a regular savings account

Who can apply

Anyone above 18 years old

Singaporean, Singapore PR or foreigner with a valid pass

With secured returns come greater peace of mind. Secure tomorrow's gains by taking action today.

Time Deposit (Fixed Deposit) Rates
  • Currency
  • Banking type
  • Promotion interest rate a year
  • Minimum placement amount
  • Apply via
SGD Time Deposit Rate
Currency Tenure (months) Banking type Promotion interest rate a year Minimum placement amount Apply via
Singapore Dollar 6 All 3% S$30,000 Internet Banking Mobile Banking
CPF Time Deposit Rate
Currency Tenure (months) Banking type Promotion interest rate a year Minimum placement amount Apply via
Singapore Dollar 6 All 3% S$30,000 Branch (using CPF Ordinary Account Funds)

You can now place a SGD Time Deposit with your CPF Ordinary Account funds. Visit any OCBC Bank branch to make a placement now.

View SGD board rates

View foreign currency board rates

The minimum placement amount for the above SGD promotion is S$30,000. The maximum placement amount for all the above Time Deposit promotions is S$999,999 or equivalent. For deposits above S$1 million, please contact us at 1800 363 3333 or visit any OCBC Bank branch. This promotion is not available for placements via Supplementary Retirement Scheme (SRS) funds.

Before you apply

Eligibility requirements

Minimum age

18 years old

Documents required

NRIC for Singaporeans and Singapore PRs

Passport and a valid pass (e.g. Employment Pass (EP) or S-Pass or Student Pass) for foreigners

Additional document

Include any one of the following documents that shows your residential address

  • Phone bill
  • Half-yearly CPF statement
  • Any bank statement


Deposit requirements

Minimum placement

$5,000 in SGD currency

$5,000 in AUD, CAD, EUR, GBP, NZD, USD currencies

$50,000 in HKD currency

$250,000 in CNH currency


Letters

You will receive electronic versions of Letters for all your relationships/accounts.

 




Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.


ways to apply

Open your Time Deposit (Fixed Deposit) Account today

FAQs
Can I make changes to an existing Time Deposit?

Yes, you can change the maturity instructions of your existing Time Deposit. Simply visit any OCBC branches or complete this online form.

For early withdrawal of your Time Deposit, you can do it via OCBC Mobile Banking. Please note that an early withdrawal fee may be applicable and you may receive lesser or no interest at point of withdrawal too.

Can I renew my Time Deposit upon maturity and at prevailing promotional rates ?

You may renew your existing Time Deposit at the prevailing promotional rates if your Time Deposit is maturing in the next 5 days. Simply visit any OCBC branches or complete this online form.

I have submitted my application for CPF Fixed Deposit (CPF FD). Why is my CPF Ordinary Account (CPF OA) not yet debited/why is the CPF FD placement not done yet?

Your CPF FD will be processed within 3 working days upon submission of your application. Your CPF Investment Account (CPF-IA) will not be debited when the application is submitted and will only be debited once the application for CPF FD placement is successful. Thank you for your patience.

Are there any fees for placing CPF Fixed Deposit (CPF FD)?

For placement of CPF FD, there are transaction and custodian fees which are chargeable by your CPF Investment Account (CPF-IA) agent bank. You may check with your CPF-IA agent bank for more details on the fees.

If you have your CPF-IA with OCBC, you may refer to the Schedule of Fees and Charges.

What are the CPF Ordinary Account (CPF OA) balances I can use for placing into CPF Fixed Deposit (CPF FD)?

The first S$20,000 in your CPF OA cannot be used for placing into CPF FD. You can only invest CPF OA balances above S$20,000, taking into account the CPF FD Principal amount and transactions fees.

What is the minimum and maximum placement amount I can put in CPF Time Deposit (CPF TD)?

The minimum is S$20,000, up to a maximum of S$999,999 per placement. You may place multiple placements with one instruction form per placement. Each placement is one transaction.

How can I withdraw an existing Time Deposit?

You may refer to the frequently asked questions on withdrawal of Time Deposit.

More questions and answers
1
For Singaporeans and Permanent Residents:

NRIC

For foreigners:

Passport
Employment Pass (EP); or S-Pass or Student Pass

2
Minimum placement:

$5,000 in SGD currency
$5,000 in AUD, CAD, EUR, GBP, NZD, USD currencies
$50,000 in HKD currency
$250,000 in CNH currency

3
Include any one of the following documents:

Phone bill
Half-yearly CPF statement
Any bank statement

For OCBC customers

Apply online or open your account at the branch to enjoy promotional rates.

or

For new customers

Apply at a branch with these supporting documents  

  1. For Singaporeans and Permanent Residents:

    • NRIC

    For foreigners:

    • Passport
    • Employment Pass (EP); or S-Pass or Student Pass
  2. Minimum placement:

    • $5,000 in SGD currency
    • $5,000 in AUD, CAD, EUR, GBP, NZD, USD currencies
    • $50,000 in HKD currency
    • $250,000 in CNH currency
  3. Additional documents
    Include any one of the following documents:

    • Phone bill
    • Half-yearly CPF statement
    • Any bank statement