RHB Singapore raised its SGD fixed deposit promotion on Friday 9 October 2026, and the number that matters for most savers is 2.10% p.a. on a 12-month placement from S$20,000. That is the Personal Banking rate, open to anyone, with no fresh-funds condition. When we last checked RHB for our fixed deposit guide, the same tenor paid 1.70%.
> Quick view: 12 months 2.10% · 6 months 2.00% · 3 months 1.60% · from S$20,000 a placement · Premier gets 0.10 points more, up to 2.20% · no fresh-funds rule · maturing RHB deposits renew at the promo rate · branch or RHB Mobile SG app · no end date · no interest if you withdraw early.
The rates
These are read off RHB's own Fixed Deposit Promotions page and its "Terms and Conditions Governing SGD Fixed Deposit Promotion 2026" (effective 9 October 2026).
| Tenor | Personal Banking | Premier Banking | Minimum per placement |
|---|---|---|---|
| 3 months | 1.60% | 1.70% | S$20,000 |
| 6 months | 2.00% | 2.10% | S$20,000 |
| 12 months | 2.10% | 2.20% | S$20,000 |
The 2.20% on RHB's banner is the Premier column. RHB Premier needs a Total Relationship Balance of S$200,000 across deposits and investments. For everyone else the headline is 2.10%. On S$20,000 for a year that is S$420 of interest, or S$200 for six months at 2.00%.
What makes this one good
There is no fresh-funds condition. The terms open the promotion to all new and existing customers placing S$20,000 or more, and they do not restrict the source of the money. Savings already at RHB can go straight in.
Renewals count too. RHB deposits that mature during the promotion are "Eligible Renewals". If yours is on auto-renewal, it rolls over at the prevailing promo rate automatically.
Multiple placements are allowed, so you can split S$40,000 into two S$20,000 deposits on different tenors.
The fine print
- No end date. The promotion runs "from 9 October 2026" until a date RHB decides, and RHB can change the rates or withdraw it without notice. Its 12-month rate has risen 0.40 points since our September check, and boards that rise this fast also fall, so do not assume the rate will be there next month.
- Early withdrawal pays nothing. The terms say no interest is payable on premature withdrawals. Not reduced interest: none.
- Everything must clear within the promotion. The account must be fully funded, documents provided and RHB's checks passed while the promotion is still running, or RHB rejects the placement and returns the money.
- Individuals only. Personal and joint accounts qualify; company accounts do not.
- Not stackable with other RHB promotions.
- What happens at maturity. Unless you instruct otherwise, it renews at RHB's prevailing promo rate if there is one, otherwise at the board rate.
How to place it
At any RHB branch, or in the RHB Mobile SG app. New-to-bank customers who want to use the app must first open an RHB current or savings account in the app, transfer the money in, and then open the fixed deposit from that account.
How it compares
We re-read HL Bank's promotion page on 11 October and it still shows its 24 September board: 2.05% at 6 and 12 months online from S$10,000. So:
| S$20,000 placed | RHB (Personal) | HL Bank (online) |
|---|---|---|
| 6 months | 2.00%, S$200 | 2.05%, S$205 |
| 12 months | 2.10%, S$420 | 2.05%, S$410 |
| Minimum | S$20,000 | S$10,000 |
RHB is the better 12-month home for S$20,000 or more; HL Bank is the better 6-month one and the only one of the two that takes S$10,000. On our guide's most recent checks, CIMB's October board paid 1.95% at 12 months (to 31 October) and Maybank 1.85%, so RHB now sits above both.
Before you place
- Choose 12 months over 6 unless you need the money back sooner. It is 0.10 points more for the same minimum.
- Ladder if you are unsure. One S$20,000 deposit at 6 months and one at 12 gives you an exit point without breaking anything.
- Keep your total at RHB under S$100,000 if SDIC cover matters to you; the cap is per depositor, per bank.
- Set a maturity reminder. If the promotion has ended by then, the renewal falls to the board rate.
Related
- 11 Best Fixed Deposit Rates in Singapore (2026). The providers we track, and how often each one re-prices.
- Maybank Fixed Deposit Now Pays 1.85% p.a. at 6 and 12 Months. The other big no-fresh-funds board, from S$20,000.
- SingFinance's Online Fixed Deposit Pays 1.80% p.a.. The finance-company option, fresh funds only.
- 5 Best Savings Accounts in Singapore (2026). For money you cannot lock away.
- Best Singapore Promos & Deals This Month. Everything live, sorted by urgency.
*Rates, eligibility and all fine print above are read off RHB Singapore's Fixed Deposit Promotions page (rhbgroup.com.sg/rhb/personal/promotions/fixed-deposit-campaign) and its "Terms and Conditions Governing SGD Fixed Deposit Promotion 2026" PDF (effective 9 October 2026), both checked 11 October 2026. HL Bank's rates are from its own fixed deposit promotion page, checked the same day; CIMB and Maybank are from our fixed deposit guide's latest checks. This is general information, not financial advice. Photo: RHB Singapore official fixed deposit promotion banner.*
