Maximise your savings with Fixed Deposit

Premier Income Account (PIA)

A Premier Income Account (PIA) is a Singapore Dollar Fixed Deposit account for those 55 years or older, with a minimum initial deposit of SGD10,000.​

Please note that this is only applicable for Singapore Dollars Fixed Deposit.​


PIA Features & Benefits​

  • Choice of tenors from 6 months​
  • Earn additional 0.10% p.a. interest*, on top of the prevailing board rate for your deposits​
  • Automatic renewals: Upon maturity, your deposit will be automatically renewed for the same tenor at the prevailing interest rate.​

*Rates are subject to change without prior notice

What is Total Balance?

Total Balance refers to the total amount of all placements in an SGD Fixed Deposit (FD) account. The amount includes all new and existing placements/renewals.

My FD account has an existing S$20,000 placement and I want to place another S$30,000. What is the applicable interest rate for the new S$30,000 placement?

With the new S$30,000 placement, the total FD account balance will be S$50,000 (S$20,000 + S$30,000). Hence, interest rate corresponding to the $50,000 - $99,999 range will applyLearn More

My FD account has 2 placements which sum up to S$100,000 (S$30,000 + S$70,000). What is the applicable interest rate for each renewal?

The total FD account balance is S$100,000 (S$30,000 + S$70,000). Hence, interest rate corresponding to the $100,000 - $249,999 range will apply.

I have an existing placement of S$50,000 in my single name FD account and another S$50,000 in a joint FD account. What is the applicable interest rate for each renewal?

The placements are in different SGD FD accounts. Hence, interest rate corresponding to the $50,000 - $99,999 range will apply for each renewal.

Can I set the maturity instruction at the point of placement or after placement is done?

Yes, you may select one of the following maturity instructions:

  • Renew the principal and interest amounts;
  • Withdraw the principal and interest amounts; or
  • Renew the principal amount and withdraw the interest.

Learn More

Can I close my account or withdraw my FD before its maturity date?

Yes, you can. However, you may earn less or no interest if you withdraw your fixed deposit before maturity. An early withdrawal fee may also be imposed. Learn More

How do I make a withdrawal for my Fixed Deposit (FD)?

You may perform a SGD FD withdrawal via digibank online. You will be able to check the interest received and the early withdrawal fee (upon premature withdrawal) during your withdrawal request via digibank online.

Foreign Currency Fixed Deposit, SRS SGD Fixed Deposit and SGD Structured Deposit accounts are not eligible for withdrawal via digibank online.

Learn more
Will there be early withdrawal fee levied for SGD & Foreign Currency Fixed Deposit placements?

An early withdrawal fee may be imposed. Also, you may earn less or no interest if you withdraw your fixed deposit before maturity. Learn More

How do you compute the early withdrawal fee for Fixed Deposit (FD)?

There are multiple factors that determine the early withdrawal fee for a Fixed Deposit, including:

  • The rate quoted on the premature withdrawal date; and
  • Remaining number of days which are not fulfilled ie. from premature withdrawal date to original maturity date

Alternatively, you can access digibank (Fixed Deposit Premature Withdrawal service) on the premature withdrawal date to check if there is any applicable premature withdrawal fee for your placement.

We encourage you to place a shorter tenor FD if you foresee using your funds in the short-term. This can help you avoid any early withdrawal fee or reduction/loss of interest earned. Learn More

What happens if the balance in my FD Account is zero?

We will close your account if the balance remains zero for 12 months.

Where can I check for the current foreign currency exchange rates?

You can refer to our foreign exchange rates here.

What will happen to my FD Account if I die?

For personal account, only the administrator or executor of your estate can make a claim on your account. Upon receiving notification of your death, the existing maturity instructions (e.g. credit to Savings account) given previously will no longer be valid. Upon maturity, the Fixed Deposit (principal and interest) will be automatically renewed for the same tenor at the prevailing interest rate. If your Fixed Deposit Account is a joint account, the surviving account holder can claim the money in the account.

Could I opt for my personal/joint Fixed Deposit account transactions in one consolidated statement?

We are working on creating that seamless one-glance option for you and will keep you updated.

Related