What happened?
I’ve been looking at new places to park my cash in recent months.
After all, some savings accounts like the UOB One and UOB Stash accounts have cut their rates in December.
On the other hand, we’ve seen a slight bounce in the Singapore T-bill yield in recent auctions.
There are some signs of stabilisation in the best fixed deposit rates in Singapore too.
These changes have led to questions in the Beansprout community on the best places to park our idle cash and earn passive income in Singapore.
In this article, I’ll break down some popular options such as fixed deposits, savings accounts, T-bills and Singapore Savings Bonds (SSBs), and money market funds to see where are the best places to grow our savings.
We’ll cover:
- The latest interest rates on fixed deposits, T-bills, SSBs, and money market funds
- Pros and cons of each option
- What I personally look at when deciding where to park my spare cash
- And the strategy I’m using right now to make my money work harder
Best 12-month fixed deposit rate in Singapore
Firstly, let’s take a look at the best fixed deposit rates in Singapore in December.
- The best 3-month fixed deposit rate we found was 1.40% p.a. offered by ICBC and Bank of China (BOC)
- The best 6-month fixed deposit rate we found was 1.41% p.a. offered by Maybank and 1.40% p.a. offered by ICBC and MariBank.
- The best 9-month fixed deposit rate we found was 1.20% p.a. offered by Bank of China (BOC).
- The best 1 year fixed deposit rate we found was 1.20% p.a. offered by Bank of China (BOC).
- GXS Savings Account is offering 1.30% p.a. for 1, 8 or 12 months tenure with their Boost Pockets.
| Tenure | Best fixed deposit interest rate (p.a.) | Bank |
|---|---|---|
| 3 months | 1.40% | ICBC and Bank of China (BOC) |
| 6 months | 1.40-1.41% | Maybank, ICBC and MariBank |
| 9 months | 1.20% | Bank of China (BOC) |
| 12 months | 1.20% | Bank of China (BOC) |
| 1, 8 or 12 months | 1.30% | GXS Savings Account (via Boost Pockets) |
| Source: Various bank websites as of 12 December 2025 | ||
To get the latest list of best fixed deposit rates this month, check out our guide to the best fixed deposit rates in Singapore.
Latest 6-month Singapore T-bill offers yield of 1.41%
The yield on the Singapore T-bill has bounced in recent auctions.
The cut-off yield on the 6-month T-bill in Singapore rose slightly to 1.41% in the recent auction on 4 December 2025, from 1.39% in T-bill auction on 20 November 2025.
With the slight increase in the T-bill yield, it is now on par with the 3-month and 6-month fixed deposit rate.
Best no-frills savings account in Singapore offers an interest rate of up to 1.50% p.a.
If you are looking for another no-frills savings account to park your savings, the UOB Stash Account offers an effective interest rate of up to 1.50% p.a. on $100,000 deposits currently.
Despite the cut in interest rates, it is still competitive against other savings accounts in Singapore.
You can also make use of the UOB Season of Gold Savings Promotion to earn up to $340 guaranteed cash when you deposit fresh funds into your UOB Stash account.
For those who are looking to deposit smaller amounts of cash, the GXS Savings Account offers an interest rate of up to 1.38% p.a. and 1.18% p.a. on the Boost Pocket and Savings Pocket without having to jump through any hoops. Learn more about the GXS Savings Account here.
If you are looking for a promo for new customers, the DBS Multiplier promo allows new Multiplier customers to earn up to 2.5% p.a. on the first S$100,000. In addition, you can get up to S$680 cash rewards by crediting your salary and signing up for a DBS yuu Card. Learn more about the DBS Multiplier promo here.
You can also consider the OCBC 360 Account as it allows you to earn up to 2.45% p.a. effective interest on the first S$100,000 when you credit your salary, save, and spend.
New customers can also earn an extra 0.50% p.a. bonus interest from 1 November to 31 December 2025 when they credit their salary. Find out more about OCBC 360 account here.
Find out more about the best savings account in Singapore here.
Latest Singapore Savings Bonds (SSB) offer a 10-year average return of 1.99%
The December issuance of the SSB (SBJAN26 GX26010A) offers a 1-year interest rate of 1.33%, and a 10-year average return of 1.99%.
This is slightly higher than the 10-year average return of the previous SSB, which was 1.85%.
I would consider the SSB mainly for the opportunity to lock in the yields for a period of up to 10 years.
