Oversea-Chinese Banking, or OCBC, is the longest-established Singapore bank, founded by the merger of three local banks in 1932. To check the latest rates and news, please access the official webpage OCBC foreign currency fixed deposit rates. Special rates may be quoted for larger amounts for Foreign Currency Time Deposits. Rates quoted are on a per annum basis and are subject to change without notice as of 1 December 2023. Global Central Bank Policy Dashboard 2022-2023 USD FD or Foreign currency fixed deposit rate might be different from SGD fixed deposit rate. While you can withdraw your money from fixed deposits, if you withdraw before the tenure is up, you will earn less interest or no interest at all.

One key difference between fixed deposit rates and other types of interest rates is that they are typically higher than savings account rates due to the longer-term commitment involved. Also, some of them may have minimum deposit amount.Īccording to Monetary Authority of Singapore ( MAS), deposit-taking institutions in Singapore comprise full banks, wholesale banks, merchant banks and finance companies. The rate is usually fixed for a specific period of time and is guaranteed, meaning the depositor will receive the agreed-upon rate regardless of any changes in market conditions. Indicates Singapore Banks' USD FD - USD Fixed deposit rates (as of 1 December 2023), including DBS, UOB, OCBC, HSBC, ICBC, and CIMB and highlighting their USD FD in period of 1-month, 3-month, 6-month, 12-month.Ī fixed deposit rate (also known as time deposit rate) is an interest rate that a bank or financial institution pays to a depositor of a fixed deposit account holder.

> Some of the latest speeches delivered by officials from the Federal Rese rve> Key Takeaway I don't think Powell will take a definitive position as some on the FOMC have taken that interest rate hikes are behind us,' said Avery Shenfeld, chief economist of CIBC Capital Markets. This adjustment in the forecast can be attributed to the increasing popularity of the US central bank's message of keeping higher interest rates for an extended duration. A recent Reuters poll suggests that economists believe the Federal Reserve will maintain its current key interest rate on November 1st and may hold off on cutting it for a longer period than initially anticipated.

Ocbc latest fixed deposit rate