Best fixed deposit rates in Singapore yield 4.00% – better buy than Treasury bills or Singapore savings bonds for your cash? Is your money safe in a Singapore bank? (March 2023)

Well what a week! Last week we were talking about a 0.50% increase in the next FOMC and a terminal interest rate of 5.75%. A week later and after the bankruptcy of 3 US banks. And now the market is pricing in interest rate cuts from June 2023. The MAS even had to come out with a statement to reassure investors that Singapore’s banking system remains “robust and resilient.” While Yields on 6-month Treasury bills immersed in 3.65%, making interest rates on fixed deposits overwhelmingly the best buy for cash investments. So I thought it was time to update the fixed deposit article. And to answer the 3 questions below: Is it safe to deposit more than $75,000 in a Singapore/overseas bank? Especially after the failure of Silicon Valley Bank? Will interest rates on fixed deposits go up even more?…