The above statistics were taken from the website of MAS. It shows the different rates for the past 10 years such as the fixed deposit rate and SIBOR. As compared to the past, the interest rates for fixed deposits were much higher as compared to the present state. With interest rates at such a low level, this should dissuade anyone from putting their money into fixed deposits or savings account. Interestingly, finance companies do offer a slightly higher rate consistently than banks for the past 10 years and there are some finance companies which are covered under the Singapore Deposit Insurance Corporation, which covers your deposits up to $20,000.
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