What happened?
As Singapore marks its 61st National Day, I’ve been thinking about what financial independence means in practical terms.
For me, part of it is making sure my spare cash is working hard enough, while still keeping it accessible when I need it.
The latest 6-month Singapore T-bill cut-off yield has risen further to 1.59%, , while the best fixed deposit rates in Singapore have also moved higher.
Savings accounts are also becoming more competitive with many offering attractive promotions and rates.
Meanwhile, the latest Singapore Savings Bond (SSB) issued was also higher than the previous month, with a 10-year average return of 2.25%.
With these changes, I have seen more discussion in the Beansprout community about where best to park our spare cash, while keeping our liquidity pot accessible for short-term needs.
In this article, I’ll compare some popular options such as T-bills, fixed deposits, Singapore Savings Bonds (SSBs), savings accounts and money market funds to find out which options offer the best yields in August.
Latest 6-month Singapore T-bill offers yield of 1.59%
Firstly, let’s take a look at the latest 6-month Singapore T-bill.
The cut-off yield on the 6-month T-bill in Singapore rose to 1.59% in the recent auction on 30 July 2026.
This represents an increase in yield from the previous 6-month T-bill auction on 16 July 2026.
With the increase in the latest auction, the 6-month Singapore T-bill yield would be highest since the start of the year.
If you are new to investing in the T-bill, check out our comprehensive guide to Singapore T-bills to learn more.
Best 6-month fixed deposit rate in Singapore of 1.60% p.a. in August 2026
The best fixed deposit rates remain competitive this month, with several banks and finance companies offering promotional rates across different tenures.
- The best 3-month fixed deposit rate we found was 1.40% p.a. by HL Bank
- The best 6-month fixed deposit rate we found was 1.60% p.a. offered by RHB
- The best 9-month fixed deposit rate we found was 1.55% p.a. offered by Bank of China and CIMB
- The best 12-month fixed deposit rate we found was 1.65% p.a. offered by RHB
| Tenure | Best fixed deposit interest rate (p.a.) | Minimum amount | Bank |
|---|---|---|---|
| 3 months | 1.40% | S$10,000 | HL Bank |
| 6 months | 1.60% | S$20,000 | RHB |
| 9 months | 1.55% | S$500 | Bank of China (E-banking) |
| S$10,000 | CIMB | ||
| 12 months | 1.65% | $20,000 | RHB |
| Source: Various bank websites as of 7 August 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.
Best no-frills savings account in Singapore offers interest rate of up to 1.68% p.a.
If you are looking for a simple savings account without having to credit your salary or spend on a credit card, the Maybank iSAVvy and HSBC Everyday Global Account (EGA) currently offer promotional interest rates of up to 1.68% p.a. on eligible incremental fresh funds. However, the higher rate only applies to the new money I add, not my entire balance, so it may be more attractive if I am bringing in fresh funds as a new customer.
The OCBC Statement Savings Account is another option for savers with at least S$50,000 in fresh funds. You can earn 1.60% p.a. for the first 88 days, followed by 1.70% p.a. for the next 100 days, which works out to an effective interest rate of about 1.65% p.a. over 188 days. However, you must maintain the funds without making any withdrawals during the selected period.
For those with smaller cash balances, the SingFinance GoSavers Account is a simple, fuss-free option. It offers 1.30% p.a. on the first S$100,000 without additional requirements.
Those who do not already have a Mari Savings Account can also consider its new-user promotion. New customers can earn 2.48% p.a. on the first S$100,000 for their first 30 days, comprising the prevailing interest rate of 0.88% p.a. and a 1.60% p.a. new-user bonus. The rate rises to as high as 2.88% p.a. for customers who also qualify for the ShopeeVIP bonus interest.
If you are able to credit your salary, spend on an eligible credit card and grow your savings balance, the OCBC 360 Account offers a higher effective interest rate of up to 2.20% p.a. on the first S$100,000 during the promotional period from 1 August to 31 December 2026.
Find the best savings accounts in Singapore based on your cash balance and banking habits here.
Latest Singapore Savings Bonds (SSB) offer a 10-year average return of 2.25%
The August issuance of the SSB (SBSEP26 GX26090V) offers a 1-year interest rate of 1.52%, and a 10-year average return of 2.25%.
This is higher than the 10-year average return of the previous SSB, which was 2.06%.
I would consider the SSB mainly for the opportunity to lock in the yields for a period of up to 10 years.
As of 5 August 2026, the 10-year average return of the next SSB is projected to increase to 2.35%.
To get the most updated projections, you can check out our latest interest rate projections for the next SSB here.
You can find out how to to construct a T-bill and SSB bond ladder here.
Read Full Article At Source
