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ICBC Fixed Deposit

 

ICBC Logo

Min. Deposit
$500

Interest Rate
up to 1.90%

Review on ICBC Fixed Deposit

Pros
Very low min. deposit
Short tenure option
High FD interest rate

Cons
Foreign Bank with few branches

 

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Details

6mths 9mths 12mths (OTC) 12mths (eBank)
$500 to <$20k 1.65% p.a. 1.70% p.a. 1.75% p.a. 1.80% p.a.
$20k & above 1.75% p.a. 1.80% p.a. 1.85% p.a. 1.90% p.a.

Receive up to 1.90% interest for a 12 months fixed deposit via e-banking

Receive up to 1.85% interest for a 12 months fixed deposit via over the counter

Receive up to 1.80% interest for a 9 months fixed deposit

Receive up to 1.75% interest for a 6 months fixed deposit

Minimum deposit SGD500 offering tenors from 6 months

Promotion applicable to deposits of Fresh Funds only

No penalty for pre-matured withdrawal of fixed deposit; you will get paid based on prevailing current account interest rate

 

Click here to go to ICBC website for more details

 

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Reviews or Comments (9)

Ave. Rating:
3/5 (16)
Topic: ICBC Fixed Deposit Review
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Rx
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Aug 2019
Rx says...

Not many banks in Singapore let you open a savings account with no requirements for minimum deposit. Icbc only requires your account to be active. It means you need at least one transaction each year or else there are service charges to your account. Secondly icbc allows auto renew of FD AT Promotion interest rate via online. no need "fresh fund"!

The website and apps user interface is a bit unusual, though.

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LL
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0
Jul 2019
LL says...

Terrible. Branches suppose to open at 11am and their contact numbers has been at fax machine mode.

I called their head office, branches at raffles place, Ang Mo Kio, punggol, Jurong east, sembawang etc from 11.10am to 11.40am and all their phones are non operating. Even if it went through, the auto reply said line is engaged. Their head office start operating at 9.30am but no one picked up the call too.

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Jade
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2
0
0
Apr 2019
Jade says...

Hi Money Lobang,

I am keen in placing short term FD in ICBC, but I am concerned my FD is not protected by SDIC, as it seems that the bank is not a member of DI scheme with SDIC.

Please confirm if the abovementioned is true.

Thank you.

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New
Jade
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2
0
0
Apr 2019
Jade says...

Hi Money Lobang,

Sorry, I misread the SDIC's list of DI scheme members.

I just realised that ICBC stands for Industrial and Commercial Bank of China Ltd.

ICBC is actually a member of DI scheme with SDIC.

Please ignore my previous comment/request.

Thank you.

1 2 3 > Last

 

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