Fixed Deposit Calculator
Use our FD calculator to find out how much interest you’ll earn and your total maturity amount—before you invest. Perfect for short-term goals or safe cash parking.
Calculate your guaranteed returns
Rates may change at the time of your lock-in.
$
%
Total Investment
$100,000
Interest Rate (p.a.)
3% p.a.
Time Period
0 Years 6 Months
Est. Returns
$1,479
Total Value
$101,479
Note: The actual interest earned may be different from the calculated interest due to a variety of factors
Disclaimer:
Our Fixed Deposit Calculator helps you visualise how much your savings can grow over a fixed period.
By entering your deposit amount, expected interest rate, and tenure, you can instantly estimate your maturity amount and the total interest earned—helping you make more informed decisions with your money.
What is a fixed deposit?
A Fixed Deposit (FD) is a type of savings product that lets you earn a guaranteed interest rate on a lump sum of money over a fixed period of time.
Offered by banks and financial institutions, it is one of the most straightforward and low-risk ways to grow your savings. FDs are commonly used by individuals looking to preserve capital while earning a predictable return.
You agree to lock in your money for a set period—typically ranging from 1 to 24 months or more—and in return, the bank pays you interest. If you withdraw early, there may be penalties or a reduction in interest earned.
FDs are also insured under the Singapore Deposit Insurance Corporation (SDIC) for up to SGD 100,000 per depositor per bank, adding an extra layer of safety.
How FD interest is calculated?
In most cases, banks in Singapore use simple interest for FDs. That means your interest is calculated only on the initial deposit, not on accumulated interest.
Formula:
Interest = Principal x Interest Rate x Time
Here are a few examples to illustrate how interest is earned over different tenures:
| Principal | Interest Rate (p.a.) | Tenure | Interest Earned | Maturity Amount |
|---|---|---|---|---|
| SGD 10,000 | 3.20% | 3 months | SGD 80 | SGD 10,080 |
| SGD 10,000 | 3.50% | 6 months | SGD 175 | SGD 10,175 |
| SGD 10,000 | 3.80% | 12 months | SGD 380 | SGD 10,380 |
The maturity amount you see reflects how much you’ll receive at the end of your selected tenure, assuming you don’t withdraw early. While longer tenures often offer higher interest rates, they also reduce liquidity. Be sure to compare rates across banks before committing—especially during promotional campaigns.
Want to explore your options? Check out the Latest FD Rates in Singapore updated monthly.
Fixed deposits vs. other low-risk investments
While Fixed Deposits are safe and simple, they aren’t the only low risj way to grow your cash.
Alternatives like StashAway Simple Cash and Singapore T-bills offer different trade-offs across flexibility, yield, and accessibility.
| Feature / Product | Fixed Deposit (FD) | StashAway Simple Cash | Singapore T-bills |
|---|---|---|---|
| Estimated Returns | ~2.00–2.90% p.a. | 2.45 –3.6% p.a. | 2.5 - 2.95% |
| Liquidity | Low (locked-in) | High (withdraw anytime) | Low (locked for 6 months) |
| Tenure / Lock-in | Varies, typically 1–24 months | No lock-in | 6 months/ 1 year |
| Interest Payout | End of term | Accrued daily | Upfront (discounted pricing) |
*Data as of Apr 2025.
Looking for a flexible way to grow your savings without locking them up? Try StashAway Simple Cash — no lock-ins, no minimums, and daily yield accrual.
*New Investor? Get extra 0.15% p.a. return on your Simple portfolio
Sign up now and any deposit you make into your Simple portfolio will earn an additional 0.15% p.a. rate boost for 6 months.
There’s no cap on the deposit amount or number of deposits made; the more you put in, the higher your potential returns.
- Earn a projected rate of 3.1% p.a. plus the returns booster of 0.15% p.a.
- No lock-ins of your funds
- You don’t have to maintain a minimum balance to earn the rate, and there’s no cap on the amount that can earn it
Frequently Ask Questions (FAQs)
1. What is the minimum amount to open a fixed deposit?
It depends on the bank, but it's usually more than SGD 500. Refer to our latest monthly updates on best FD rates.
2. Can I withdraw my FD early?
Yes, but doing so may lead to forfeiture of interest and possible penalties.
3. Are fixed deposit returns guaranteed?
Yes, interest rates are fixed at the time of deposit and insured up to SGD 100,000 per bank under SDIC.
4. How is FD interest paid?
Typically at the end of the tenure, though some banks may offer monthly or quarterly payout options.
5. What’s the best tenure for a fixed deposit?
That depends on your financial goals. Shorter tenures offer more flexibility, while longer ones may offer slightly higher returns.
6. Is FD better than a savings account?
FDs generally offer higher returns, but your funds are locked in. Savings accounts offer liquidity but lower interest rates.
7. Can foreigners open an FD in Singapore?
Yes, many banks allow non-residents to open FDs, subject to additional documentation.
Start earning more on your cash
Start earning 2.45 –3.6% p.a. with StashAway Simple Cash
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