Fixed deposit early withdrawal is allowed at every Singapore bank and finance company we checked, but it usually costs you most or all of the interest. A few banks add a fee on top, and on some promotions you get no interest at all, however long you held the deposit.
Here is what each provider says on its own page at the time of writing (November 2026), and how to work out what breaking a deposit would cost you.
What MoneySense Says
MoneySense, the government’s financial education programme, warns that withdrawing a fixed deposit before maturity can mean no interest or only part of it, and in some cases a fee. If there is a fee, you could get back less than you put in. It suggests asking about early withdrawal terms before you place.
Fixed Deposit Early Withdrawal Terms, Bank by Bank
Wording is summarised from each provider’s own page in November 2026. Where a page did not mention a fee, we say “not stated” rather than “none”.
| Provider | Interest if withdrawn early | Fee or charge |
|---|---|---|
| DBS/POSB | “You may earn less or no interest” | Not stated; SGD withdrawals not allowed on, or one day before, maturity |
| OCBC | “May receive lesser or no interest” | “An early withdrawal fee may be applicable” |
| UOB (SGD) | “Lesser or no interest”; none at all on November 2026 promotional deposits | “No withdrawal fee” for SGD |
| UOB (foreign currency) | “Lesser or no interest” | “An early withdrawal fee may be imposed” |
| HSBC | Calculated at the bank’s discretion | “Premature withdrawal charges may apply”; you may get back less than you placed |
| Standard Chartered (SGD) | At the bank’s sole discretion; possibly none | Not stated on the SGD page |
| Standard Chartered (foreign currency) | At the bank’s sole discretion; possibly none | “Penalty charges and replacement cost will apply” |
| ICBC | Paid at its prevailing current account rate | “No penalty” |
| RHB (SGD) | Not stated | “No premature penalty fee” |
| RHB (foreign currency) | Not stated | “Premature penalty fees applicable” |
| Bank of China | “May lead to losses in interest” | Not stated |
| Hong Leong Finance | No interest after the deposit has been auto-renewed | Not stated |
| Sing Investments & Finance | Loss of accrued interest | “A levy may apply, subject to market conditions” |
CIMB’s fixed deposit page referred to a separate deposit operations document for early withdrawal, which we did not use here. Maybank and State Bank of India are not included because their sites did not open on 13 November 2026.
The short version: Assume breaking a fixed deposit costs all the interest earned so far. Some banks charge a fee as well, especially on foreign currency deposits. Read the terms before you place, not when you need the money.
Worked Example: Breaking a S$50,000 Deposit at Month Nine
Illustration only, simple interest. You place S$50,000 for 12 months at 1.70% a year, the rate on UOB’s November 2026 promotion, and need the money after nine months.
- Interest you would have earned by month nine: $50,000 × 1.70% × 9/12 = $637.50.
- Interest at full maturity: $50,000 × 1.70% = $850.
- What you get under UOB’s promotion terms if withdrawn early: $50,000, with no interest, as its page states for this promotion.
So the cost of breaking is the full $637.50 earned so far, plus the interest the money could have earned elsewhere. At a bank that also charges a fee, the cost is higher.
Compare that with a Singapore Savings Bond, which MAS lets you redeem in any month with no penalty, only a $2 transaction fee, with the money paid by the second business day of the following month. Our Savings Bonds guide explains how redemption works.
Ways to Avoid Breaking a Deposit
- Keep an emergency fund first. Money you might need at short notice belongs in a savings account. Our emergency fund calculator helps size it.
- Split the money. Several smaller deposits with different maturity dates mean you only break one if you must. Our fixed deposit ladder guide shows the maths.
- Match the tenor to the need. If you might need the money in six months, a 12-month promotion is the wrong tool even at a higher rate.
- Check the renewal date. Hong Leong Finance pays no interest on premature withdrawal after a deposit has auto-renewed, so decide before the renewal date.
Questions to Ask the Bank Before You Place
- If I withdraw early, what interest do I get: none, the savings rate, or a reduced deposit rate?
- Is there a fee, and could I get back less than I put in?
- Can I withdraw part of the deposit, or only the whole amount?
- Do promotional deposits have stricter terms than board-rate deposits?
- How do I withdraw: online, by app, or only at a branch?
What To Do Next
- Look up the early withdrawal terms for any bank in this month’s FD rates table before you place.
- If you need flexibility, compare fixed deposits with alternatives to savings accounts, including Savings Bonds.
- Keep the bank’s terms and conditions document with your deposit confirmation.
