Deposit interest rate (%) in Singapore
Singapore: Deposit interest rate (%) was 0.1% in 2021. ◆ Volatile
Deposit interest rate in Singapore, 1977–2021
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
The most recent figure for deposit interest rate in Singapore is 0.1%, measured in 2021. That is the lowest value across all 45 years on record.
The figure is down 33.6% on the previous year and down 27.7% over ten years.
Over the whole period, deposit interest rate in Singapore peaked at 10.7% in 1981 and was at its lowest, 0.1%, in 2021.
That places Singapore 149th out of 153 countries with data for 2021, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Deposit interest rate (%) in Singapore, year by year
| Year | % | Change |
|---|---|---|
| 1977 | 4.1% | — |
| 1978 | 4.7% | +16.8% |
| 1979 | 6.2% | +30.6% |
| 1980 | 9.4% | +51.1% |
| 1981 | 10.7% | +14.3% |
| 1982 | 7.2% | -32.6% |
| 1983 | 6.3% | -12.5% |
| 1984 | 7.0% | +10.5% |
| 1985 | 5.0% | -28.4% |
| 1986 | 3.9% | -21.7% |
| 1987 | 2.9% | -26.2% |
| 1988 | 2.7% | -5.1% |
| 1989 | 3.2% | +17.4% |
| 1990 | 4.7% | +45.4% |
| 1991 | 4.6% | -0.9% |
| 1992 | 2.9% | -38.0% |
| 1993 | 2.3% | -19.8% |
| 1994 | 3.0% | +30.5% |
| 1995 | 3.5% | +16.7% |
| 1996 | 3.4% | -2.7% |
| 1997 | 3.5% | +1.8% |
| 1998 | 4.6% | +32.6% |
| 1999 | 1.7% | -63.4% |
| 2000 | 1.7% | +1.7% |
| 2001 | 1.5% | -11.2% |
| 2002 | 0.9% | -42.8% |
| 2003 | 0.5% | -42.2% |
| 2004 | 0.4% | -19.7% |
| 2005 | 0.4% | +9.3% |
| 2006 | 0.6% | +29.3% |
| 2007 | 0.5% | -7.2% |
| 2008 | 0.4% | -20.8% |
| 2009 | 0.3% | -30.2% |
| 2010 | 0.2% | -29.6% |
| 2011 | 0.2% | -18.2% |
| 2012 | 0.1% | -19.3% |
| 2013 | 0.1% | +3.1% |
| 2014 | 0.1% | +3.0% |
| 2015 | 0.2% | +15.6% |
| 2016 | 0.2% | +14.0% |
| 2017 | 0.1% | -25.4% |
| 2018 | 0.2% | +10.6% |
| 2019 | 0.2% | +26.1% |
| 2020 | 0.2% | -7.2% |
| 2021 | 0.1% | -33.6% |
Singapore compared with similar countries
- Singapore's 0.1% is below the median for high income countries, which is 1.6%, 8% of the median. (39 countries reporting)
- Singapore's 0.1% is below the median for East Asia & Pacific, which is 1.5%, 8% of the median. (26 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.0% | 4.1% | 6.2% | 3 |
| 1980s | 5.8% | 2.7% | 10.7% | 10 |
| 1990s | 3.4% | 1.7% | 4.7% | 10 |
| 2000s | 0.7% | 0.3% | 1.7% | 10 |
| 2010s | 0.2% | 0.1% | 0.2% | 10 |
| 2020s | 0.2% | 0.1% | 0.2% | 2 |
Countries ranked near Singapore
More financial sector data for Singapore
- Reserve position in the IMF, US dollar, annual growth rate 8.93 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 230.78 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 3.73 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 168.51 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 8.93 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 230.78 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 3.73 % change on previous year (2025)
Frequently asked questions
- What is deposit interest rate in Singapore?
- Deposit interest rate in Singapore was 0.1% in 2021, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest deposit interest rate recorded in Singapore?
- The highest recorded value was 10.7% in 1981.
- What is the lowest deposit interest rate recorded in Singapore?
- The lowest recorded value was 0.1% in 2021.
- How does Singapore rank for deposit interest rate?
- Singapore ranks 149th out of 153 countries with data for 2021.
- Is deposit interest rate rising or falling in Singapore?
- Over the last ten years it is down 27.7%. The long-run trend across the full record is volatile.
- Where does this Singapore data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Deposit interest rate (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 45 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.