Singapore Deposit Rate
Deposit interest rate FR.INR.DPST
Singapore's deposit rate was 0.12% in 2021, ranked 6th globally. This represents a 33.6% decrease from 2020. Data from World Bank, covering 1977–2021.
Overview
Singapore's deposit rate stood at 0.12% in 2021, a decline of +0.06pp from 2020. Singapore ranked 6th globally.
Singapore's deposit rate has exhibited significant volatility over the past 45 years, with an all-time peak of 10.71% in 1981 and a corresponding decline to an all-time trough of 0.12% in 2021. This substantial drop is reflective of the country's evolving monetary policy environment. In comparison, neighboring Brunei Darussalam's deposit rate has hovered around 0.14%, while Micronesia's rate has remained relatively stable at 0.04%. The current deposit rate in Singapore stands at 0.12%, ranking sixth globally. This low rate is likely a result of the country's monetary authority maintaining a accommodative stance to support economic growth. The trajectory of Singapore's deposit rate is expected to be influenced by changes in the global interest rate environment, particularly if the United States Federal Reserve decides to tighten its monetary policy, potentially leading to an increase in Singapore's deposit rate.
Data & projection
| Year | Deposit Rate | YoY change | Rank |
|---|---|---|---|
| 2021 | 0.12% | −0.06pp | #6 |
| 2020 | 0.18% | −0.01pp | #7 |
| 2019 | 0.20% | +0.04pp | #7 |
| 2018 | 0.16% | +0.02pp | #7 |
| 2017 | 0.14% | −0.05pp | #7 |
| 2016 | 0.19% | +0.02pp | #6 |
| 2015 | 0.17% | +0.02pp | #5 |
| 2014 | 0.14% | +0.00pp | #4 |
| 2013 | 0.14% | +0.00pp | #4 |
| 2012 | 0.14% | −0.03pp | #4 |
| 2011 | 0.17% | −0.04pp | #4 |
| 2010 | 0.21% | −0.09pp | #5 |
| 2009 | 0.29% | −0.13pp | #5 |
| 2008 | 0.42% | −0.11pp | #1 |
| 2007 | 0.53% | −0.04pp | #1 |
Detected Pattern
Analysis
Singapore matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw deposit rate improve within 24 months. View full analysis →
Frequently Asked Questions
Singapore's deposit rate was 0.12% in 2021. Ranked 6th globally. This represents a 33.6% decrease from the previous year.
Singapore's deposit rate peaked at 10.71% in 1981.
The lowest deposit rate in Singapore was 0.12% in 2021.
Singapore ranks 6th globally in deposit rate as of 2021.
The World Bank indicator code is FR.INR.DPST. Data sourced from World Bank.
The deposit rate of Singapore in 2021 was 0.12%. This ranks 6th in the world.
Cite this page
@misc{historysaid_singapore_deposit-rate,
title = {Singapore Deposit Rate},
url = {https://historysaid.com/singapore/deposit-rate/},
publisher = {HistorySaid},
year = {2026}
}