What happened?
As we start the new year, I’ve been reviewing where to park my spare cash.
After all, we have seen the Singapore 6-month T-bill yield bounce to 1.6% in the latest auction. We have also seen an increase in the best fixed deposit rates in Singapore.
However, Standard Chartered lowered the rates on its BonusSaver account in January 2026, after UOB One and UOB Stash cut their interest rates in December,
These changes have sparked more discussion within the Beansprout community about where to park our idle cash and earn passive income in Singapore.
In this article, I’ll break down some popular options such as T-bills, fixed deposits, Singapore Savings Bonds (SSBs), and money market funds to see where they stand right now.
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 (January 2026)
Firstly, let’s take a look at the best fixed deposit rates in Singapore in January 2026.
- The best 3-month fixed deposit rate we found was 1.45% p.a. offered by RHB.
- The best 6-month fixed deposit rate we found was 1.45% p.a. offered by RHB.
- 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 1.30% p.a. offered by GXS Savings Account via their Boost Pockets, followed by 1.20% p.a. offered by RHB and Bank of China (BOC).
| Tenure | Best fixed deposit interest rate (p.a.) | Bank |
|---|---|---|
| 3 months | 1.45% | RHB |
| 6 months | 1.45% | RHB |
| 9 months | 1.20% | Bank of China (BOC) |
| 12 months | 1.20% | RHB and Bank of China (BOC) |
| 1, 8 or 12 months | 1.30% | GXS Savings Account (via Boost Pockets) |
| Source: Various bank websites as of 9 January 2026 | ||
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 1.60%
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 to 1.60% in the recent auction on 31 December 2025, from 1.41% in T-bill auction on 4 December 2025.
With the increase in the T-bill yield, it is now above 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.
You can also make use of the UOB Leap of Fortune Savings Promotion to earn up to $380 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.
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. Find out more about OCBC 360 account here.
Compare the best savings account in Singapore here.
Latest Singapore Savings Bonds (SSB) offer a 10-year average return of 2.25%
The January issuance of the SSB (SBFEB26 GX26020S) offers a 1-year interest rate of 1.35%, and a 10-year average return of 2.25%.
This is higher than the 10-year average return of the previous SSB, which was 1.99%.
I would consider the SSB mainly for the opportunity to lock in the yields for a period of up to 10 years.
