We included these institutions in our research for the best high-yield savings account rates: Affirm, Alliant Credit Union, Ally Bank, American Express, Axos Bank, Bank of America, Bank5 Connect, BankDirect, BankPurely, Barclays, Bask Bank, BrioDirect Banking, Capital One, Charles Schwab Bank, Chase, Chime, CIBC Bank, CIT Bank, Citibank, Citizens Access, Colorado Federal Savings Bank, Bread Financial, Connexus Credit Union, Consumers Credit Union, Discover, Dollar Savings Direct, E*Trade Bank, Fitness Bank, FNBO Direct, HSBC, HSBC Direct, iGoBanking, Incredible Bank, Live Oak Bank, Marcus by Goldman Sachs, My eBanc, MySavingsDirect, Navy Federal Credit Union, nbkc Bank, PNC Bank, Popular Direct, Purepoint Financial, Quontic, Rising Bank, SalemFiveDirect, Sallie Mae Bank, SFGI Direct, SmartyPig Bank, Synchrony Bank, U.S. Bank, UFB Direct, Varo Bank and VIO Bank. Show
Savings accounts offer a great, low-risk way to earn more with your money. However, some accounts can be quite complex. After closely analysing the market, we identified and explained the best savings accounts in Singapore in straightforward terms, so that you can find the option best suited to your needs. Find out more here Can You Invest Or Insure Yourself Without Sacrificing Your Lifestyle?Best Savings Accounts in Singapore Best Savings Accounts Overall
Quick Comparison of Select Competitive Savings Accounts in SingaporeWhen looking for the best savings account for you, it's important to consider factors like accessibility (minimum initial deposit), risk (minimum balance requirement & fall-below fees) and potential return (maximum effective interest rate). We've organized such data for some of Singapore's most competitive savings accounts into the table below. As a note, the maximum effective interest rates displayed are achieved at varying balance sizes. Learn more about the details in our reviews below. Savings AccountInit. DepositMin. Avg. BalFall-Below FeeMax EIRSC Bonus$averS$0S$3,000S$54.88% p.a.DBS MultiplierS$0S$3,000S$54.10% p.a.Citigold Priority Banking & Wealth Management250,000S$15,000S$152.8% p.a.OCBC 360S$1,000S$3,000S$27.65% p.a.MB SaveUpS$500-S$1kS$1,000S$23.00% p.a.POSB SAYES$0S$50N/A3.75% p.a.MB iSAVvy PlusS$500S$500S$21.56% p.a.UOB OneS$1,000S$1,000S$53.60% p.a.RHB High YieldS$1,000S$1,000S$01.50% p.a.CIMB FastSaverS$1,000N/AN/A4.20% p.a.OCBC Bonus+S$5,000S$3,000S$22.80% p.a.UOB StashS$1,000S$1,000S$21.00% p.a.OCBC FrankS$0S$0 if below 26yoWaiver option0.20% p.a. Fall below fees may have a waiver. Promotional rates, if any, are not included. Please see below for further details Best OverallConsistent SaversSimple & EasyNo Fees or MinsPriority BankingAdd'l Resources
Best Savings Accounts in SG Best Savings Accounts Overall
Requirements Comparison for Best Savings Accounts for StudentsWhen looking for the best savings account for you, it's important to consider factors like accessibility (minimum initial deposit), risk (minimum balance requirement & fall-below fees) and potential return (maximum effective interest rate). We've organized such data for some of Singapore's most competitive savings accounts into the table below. As a note, the maximum effective interest rates displayed are achieved at varying balance sizes. Learn more about the details in our reviews below. Savings AcctInit. DepositMin. Avg. BalFall-Below FeeMax EIRSC Bonus$averS$0S$3,000S$54.88% p.a.DBS MultiplierS$0S$3,000S$54.10% p.a.Citigold Priority Banking & Wealth Management250,000S$15,000S$152.8% p.a.OCBC 360S$1,000S$3,000S$27.65% p.a.MB SaveUpS$500-S$1kS$1,000S$23.00% p.a.POSB SAYES$0S$50N/A3.75% p.a.MB iSAVvy PlusS$500S$500S$21.56% p.a.UOB OneS$1,000S$1,000S$53.60% p.a.RHB High YieldS$1,000S$1,000S$01.50% p.a.CIMB FastSaverS$1,000N/AN/A4.20% p.a.OCBC Bonus+S$5,000S$3,000S$22.80% p.a.UOB StashS$1,000S$1,000S$21.00% p.a.OCBC FrankS$0S$0 if below 26yoWaiver option0.20% p.a. Fall below fees may have a waiver. Promotional rates, if any, are not included. Please see below for further details Savings accounts offer a great way to earn interest on your funds without having to take big risks (as with investing) or forfeit access to your money for an extended period (as with fixed deposits). In fact, certain accounts allow consumers to earn up to 3.50%+ p.a. on their savings, making it easy to rapidly earn interest with minimal effort. There are many types of savings accounts in Singapore, however, each uniquely tailored to a different type of consumer. While the accounts offering the highest potential interest rate tend to be quite complex, there are still many options with fewer requirements and lesser risk. We've closely analysed all of Singapore's most competitive savings accounts, providing comprehensive and comparative reviews below so you can see which best suits your needs. Best Savings Accounts in Singapore OverallThe following savings bank accounts in Singapore offer some of the highest potential effective interest rates in the market. Competitive Interest for Incremental Savers: OCBC 360 AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase RateNo Requirements; applied to entire balance0.05% p.a.Grow Bonus
Max EIR is highest at a S$70k balance even with the Grow Bonus left inactive. Promotional rates, if any, are not included Analyst's Review If you're willing to save at least S$500 per month, OCBC 360 Savings Account may just be your best option. Like competitors, this account offers a boosted interest rate for those who credit their monthly salary of at least S$1,800 offering interest rates starting at 2.0% p.a. for a minimum salary of S$21,600. Purchasing an eligible insurance or investment product will also boost the interest you earn on the savings account. Altogether, these bonuses add up to 6.15% p.a. effective interest on top of the 0.05% p.a. base rate. Any bonus interest applies up to the 1st S$100,000 of the balance (excess balance earns just the base rate). OCBC 360 Account stands out from its competitors by rewarding continued growth. Making a monthly deposit of at least S$500 earns a bonus of up to 2.40% p.a. effective interest. Overall, while several accounts reward salary crediting & product use and others reward consistent saving, OCBC 360 is one of the very few that offers bonus interest for both. Combining all bonuses (including a 2.40% p.a. bonus for large balance sizes), consumers can earn a maximum effective interest rate of 7.65% p.a. with a S$100,000 balance. This makes OCBC 360 Savings Account the best in Singapore for Incremental Savers. Learn About Other OCBC Products
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Details & Requirements
Account Interest Rates OCBC 360 Account Interest RatesBase Rate: No requirements (applied to entire balance)
Max EIR is highest at a S$70k balance even with the Grow Bonus left inactive Analyst's Review If you're willing to save at least S$500 per month, OCBC 360 Savings Account may just be your best option. Like competitors, this account offers a boosted interest rate for those who credit their monthly salary of at least S$1,800 offering interest rates starting at 2.0% p.a. for a minimum salary of S$21,600. Purchasing an eligible insurance or investment product will also boost the interest you earn on the savings account. Altogether, these bonuses add up to 6.15% p.a. effective interest on top of the 0.05% p.a. base rate. Any bonus interest applies up to the 1st S$100,000 of the balance (excess balance earns just the base rate). OCBC 360 Account stands out from its competitors by rewarding continued growth. Making a monthly deposit of at least S$500 earns a bonus of up to 2.40% p.a. effective interest. Overall, while several accounts reward salary crediting & product use and others reward consistent saving, OCBC 360 is one of the very few that offers bonus interest for both. Combining all bonuses (including a 2.40% p.a. bonus for large balance sizes), consumers can earn a maximum effective interest rate of 7.65% p.a. with a S$100,000 balance. This makes OCBC 360 Savings Account the best in Singapore for Incremental Savers. Learn About Other OCBC Products
Highest Effective Interest Rate: Standard Chartered Bonus$aver AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase RateNo Requirements; applied to entire balance0.01% p.a.Credit/Debit Spend Bonus
Promotional rates, if any, are not included Analyst's Review Standard Chartered Bonus$aver Account is the best option on the market for affluent individuals open to a banking relationship with Standard Chartered. Account holders earn rate boosts by:
These bonuses can be unlocked individually, but obtaining all 4 will allow consumers to earn up to 4.88% p.a. interest. This is one of the highest effective rates currently on the market, and can be achieved at S$100,000 balance. It's worth pointing out that this account is best suited for wealthier consumers due to its minimum salary requirement, higher card spend requirement and the requirement to buy a big financial product to enjoy a boost. There's also a rather sizable S$3,000 minimum balance requirement and S$5 fall below fee, which can be problematic for consumers who have less in savings. This makes Standard Chartered Bonus$aver Account the best in Singapore for highest EIR. Learn About Other Standard Chartered Products
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Details & Requirements
Account Interest Rates SC Bonus$aver Account Interest RatesBase Rate: No requirements (applied to entire balance)
Promotional rates, if any, are not included on_current="true" title="Analyst's Review" style="article" open="false" Standard Chartered Bonus$aver Account Standard Chartered Bonus$aver Account is the best option on the market for affluent individuals open to a banking relationship with Standard Chartered. Account holders earn rate boosts by:
These bonuses can be unlocked individually, but obtaining all 4 will allow consumers to earn up to 2.38% p.a. interest. This is one of the highest effective rates currently on the market, and can be achieved at S$80,000 balance. It's worth pointing out that this account is best suited for wealthier consumers due to its minimum salary requirement, higher card spend requirement and the requirement to buy a big financial product to enjoy a boost. There's also a rather sizable S$3,000 minimum balance requirement and S$5 fall below fee, which can be problematic for consumers who have less in savings. This makes Standard Chartered Bonus$aver Account the best in Singapore for highest EIR. Learn About Other Standard Chartered Products
Market-Leading Effective Interest Rate: DBS Multiplier AccountLearn More Learn More
Details & Requirements
Current Interest Rates DBS Multiplier Interest Rate GridTransactions/Month
Promotional rates, if any, are not included Analyst's Review DBS Multiplier Savings Account is an exceptional option for high-spenders with financial involvement across a variety of DBS banking products. Account holders earn interest based on a few intersecting factors. First, consumers must credit dividends or their salary to their account each month. Then, you must make a transaction in one or more specific categories ranging from credit card purchases and home loan payments to insurance policies and investments through DBS. Depending on the amount of total monthly transactions and the number of categories in which transactions were made, your total interest can reach 4.10% p.a. While this is the highest EIR available on the market, meeting the necessary criteria is quite challenging. The average consumer may expect to earn more along the lines of 1.50% p.a., which is still a market-leading rate. This makes DBS Multiplier one of the best savings accounts in Singapore, especially for those who can balance multiple financial products. This makes DBS Multiplier Savings Account the best in Singapore for one of the highest EIR in the market. Learn About Other DBS Products
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Details & Requirements
Account Interest Rates DBS Multiplier Interest Rate GridTransactions/Month
Promotional rates, if any, are not included Analyst's Review DBS Multiplier Savings Account is an exceptional option for high-spenders with financial involvement across a variety of DBS banking products. Account holders earn interest based on a few intersecting factors. First, consumers must credit dividends or their salary to their account each month. Then, you must make a transaction in one or more specific categories ranging from credit card purchases and home loan payments to insurance policies and investments through DBS. Depending on the amount of total monthly transactions and the number of categories in which transactions were made, your total interest can reach 3.00% p.a. While this is the highest EIR available on the market, meeting the necessary criteria is quite challenging. The average consumer may expect to earn more along the lines of 1.50% p.a., which is still a market-leading rate. This makes DBS Multiplier one of the best savings accounts in Singapore, especially for those who can balance multiple financial products. This makes DBS Multiplier Savings Account the best in Singapore for one of the highest EIR in the market. Learn About Other DBS Products
Best for Salaried Workers Seeking Loans: Maybank SaveUp Account
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why Maybank SaveUp Savings Account is the best in Singapore for getting loans as a salaried worker. If you're a salaried employee thinking of taking out a car, education, home, or home renovation loan, Maybank SaveUp Savings Account can help you earn market-leading interest rates while doing so. Account holders earn at already high base rates (up to 0.2500% p.a., compared to the standard 0.05% p.a.), and can further boost their rate by engaging with Maybank financial products. Maybank offers bonuses to your savings rate if you use your account to spend in certain categories or open other products with the bank. With 5 categories and 9 qualifying products to choose from, there are many ways to achieve higher rates. The bonus increases as you add other products: Number of Maybank products you addBonus to your savings interest rate10.10% p.a. Qualifying products include savings accounts (salary crediting for S$2,000 also qualifies), spending with Maybank Platinum Visa Card or Horizon Visa Signature Card, making an investment, purchasing an insurance policy or taking out a loan (includes car, home, education or renovation loan). Consumers who engage with at least 3 products can earn up to a maximum effective interest rate of 3.00% p.a., capped at a S$50,000 balance–making Maybank SaveUp a strong choice for salaried employees with moderate savings. Learn About Other Maybank Products
Details & Requirements
Account Interest Rates Maybank SaveUp Savings Account Interest RatesBase Rate: No requirements (rate varies according to band of balance)
Analyst's Review This is why Maybank SaveUp Savings Account is the best in Singapore for getting loans as a salaried worker. If you're a salaried employee thinking of taking out a car, education, home, or home renovation loan, Maybank SaveUp Savings Account can help you earn market-leading interest rates while doing so. Account holders earn at already high base rates (up to 0.25% p.a., compared to the standard 0.05% p.a.), and can further boost their rate by engaging with Maybank financial products. Maybank offers bonuses to your savings rate if you use your account to spend in certain categories or open other products with the bank. With 5 categories and 9 qualifying products to choose from, there are many ways to achieve higher rates.. The bonus increases as you add other products: Number of Maybank products you addBonus to your savings interest rate10.10% p.a. Qualifying products include savings accounts (salary crediting for S$2,000 also qualifies), spending with Maybank Platinum Visa Card or Horizon Visa Signature Card, making an investment, purchasing an insurance policy or taking out a loan (includes car, home, education or renovation loan). Consumers who engage with at least 3 products can earn up to a maximum effective interest rate of 3.00% p.a., capped at a S$50,000 balance–making Maybank SaveUp a strong choice for salaried employees with moderate savings. Learn About Other Maybank Products
Most Accessible Top Rates: UOB One Savings Account
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase RateNo Requirements; applied to entire balance0.05% p.a.Credit Card Bonus
Promotional rates, if any, are not included Analyst's Review This is why UOB One Account is the best savings account in Singapore for consumers for the most accessible top rates. UOB One is by far one of the easiest savings accounts to use for maximising your interest rate. Account holders can earn up to a 3.60% p.a. effective interest rate upon reaching a S$100,000 balance, which is notably higher than the market average. Rates are based on just 3 factors: credit card use, salary crediting, and size of current balance. First, spending at least S$500/month with select UOB credit cards earns a bonus of 0.20% p.a. on top of the 0.05% p.a. base rate. Next, consumers who meet the credit card spend can earn an additional boost when they credit their salary or make 3+ GIRO debit transactions. Finally, boosted rates also depend on your total balance. The total is divided into bands (1st S$15,000, next S$15,000…), and each band earns at a different bonus rate. Altogether, salaried employees with a UOB credit card can easily earn competitive rates, without the need for extensive tracking. While similar accounts tend to be very complex, UOB One is a great option that doesn't require a lot of extra effort. Learn About Other UOB Products
Details & Requirements
Account Interest Rates UOB One Account Interest RatesBase Rate: No requirements (applied to entire balance)
Analyst's Review This is why UOB One Account is the best savings account in Singapore for consumers for the most accessible top rates. UOB One is by far one of the easiest savings accounts to use for maximising your interest rate. Account holders can earn up to a 2.50% p.a. effective interest rate upon reaching a S$75,000 balance, which is notably higher than the market average. Rates are based on just 3 factors: credit card use, salary crediting, and size of current balance. First, spending at least S$500/month with select UOB credit cards earns a bonus of 0.20% p.a. on top of the 0.05% p.a. base rate. Next, consumers who meet the credit card spend can earn an additional boost when they credit their salary or make 3+ GIRO debit transactions. Finally, boosted rates also depend on your total balance. The total is divided into bands (1st S$15,000, next S$15,000…), and each band earns at a different bonus rate. Altogether, salaried employees with a UOB credit card can easily earn competitive rates, without the need for extensive tracking. While similar accounts tend to be very complex, UOB One is a great option that doesn't require a lot of extra effort. Learn About Other UOB Products
Best Accounts for Consistent SaversThese savings accounts in Singapore offer high interest rates for consumers who consistently make deposits and refrain from making withdrawals for months on end. Best for Moderate Balances & Small Increases: UOB Stash Account
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why UOB Stash Account is the best savings account in Singapore for consumers for moderate balances and small deposits. If you're a young adult with moderate-to-large savings, you may want to consider UOB Stash Savings Account. This account has one of the lowest minimum age requirements on the market, at just 15 years old. In addition, it tends to offer unique promotions, such as cash or gifts for fresh funds deposits (though promotions rotate and change every few months). UOB Stash also often comes with a sign-on bonus, which is somewhat rare amongst savings accounts in Singapore.
Ultimately, what may be UOB Stash's biggest perk is that consumers can earn bonus rates regardless of their deposit size, as long as they keep making deposits. Most accounts either reward only the incremental difference, or base their bonus rates on deposit size. As a result, this account is a great match if you're a frequent saver, even by just small amounts, and can maintain a balance of about S$50,000. Learn About Other UOB Products
Details & Requirements
Account Interest Rates UOB Stash SA Interest RatesBase Rate: No requirements (applied to entire balance)
Analyst's Review This is why UOB Stash Account is the best savings account in Singapore for consumers for moderate balances and small deposits. If you're a young adult with moderate-to-large savings, you may want to consider UOB Stash Savings Account. This account has one of the lowest minimum age requirements on the market, at just 15 years old. In addition, it tends to offer unique promotions, such as cash or gifts for fresh funds deposits (though promotions rotate and change every few months). UOB Stash also often comes with a sign-on bonus, which is somewhat rare amongst savings accounts in Singapore. Beyond its promotions and offerings, UOB Stash specifically rewards those who save month-on-month and have a moderate-to-large balance. Consumers earn a standard base rate of 0.05% p.a., which is then increased if the current month's balance is higher than the previous month's. While the first S$10,000 within the balance doesn't receive a boost, the next S$40,000 (up to the S$50,000 mark) earns an extra 0.60% p.a. interest. Consumers with even higher balances earn additional 0.95% p.a. bonus on the next S$50,000 (up to S$100,000). Overall, these rates add up to a potential maximum 1.00% p.a. effective interest rate, achievable by those who have a S$50,000 balance. Ultimately, what may be UOB Stash's biggest perk is that consumers can earn bonus rates regardless of their deposit size, as long as they keep making deposits. Most accounts either reward only the incremental difference, or base their bonus rates on deposit size. As a result, this account is a great match if you're a frequent saver, even by just small amounts, and can maintain a balance of about S$50,000. Learn About Other UOB Products
Best for Consumers with Stable Budgets: POSB Save As You Earn (SAYE)Learn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why POSB Save As You Earn Account is the best savings account in Singapore for consumers with stable budget. If you're interested in making automatic monthly deposits and aren't planning to make a withdrawal for the next year or so, POSB Save As You Earn Accountis an excellent match for your needs. In fact, account holders who are able to credit between S$800–S$3,000/month, without making any withdrawals, can earn an incredible 3.75% p.a.– one of the higher effective interest rates on the market. In general, consumers earn at a base rate by depositing a fixed amount between S$50 to S$3,000/month, with the interest varying according to deposit size. Consumers can earn a bonus 3.50% p.a. if they continuously credit their account and make no withdrawals across 24 months–which is a remarkable boost by market standards. As a result, POSB SAYE is a great fit for people with consistent saving and spending habits, who regularly have a bit of excess monthly income. Learn About Other POSB Products
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Details & Requirements
Account Interest Rates POSB SAYE Account Interest RatesBase Rate: No requirements (applied to entire balance)
Analyst's Review This is why POSB Save As You Earn Account is the best savings account in Singapore for consumers with stable budget. If you're interested in making automatic monthly deposits and aren't planning to make a withdrawal for the next year or so, POSB Save As You Earn Accountis an excellent match for your needs. In fact, account holders who are able to credit between S$800–S$3,000/month, without making any withdrawals, can earn an incredible 2.05% p.a.– one of the higher effective interest rates on the market. In general, consumers earn at a base rate by depositing a fixed amount between S$50 to S$3,000/month, with the interest varying according to deposit size. Consumers can earn a bonus 2.00% p.a. if they continuously credit their account and make no withdrawals across 24 months–which is a remarkable boost by market standards. As a result, POSB SAYE is a great fit for people with consistent saving and spending habits, who regularly have a bit of excess monthly income. Learn About Other POSB Products
Best for Consistent, Large Deposits: Maybank iSAVvy PlusLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why Maybank iSAVvy Plus Savings Account is the best in Singapore for consumers for consistent large deposits. Maybank iSAVvy Plus Savings Account is another great option for consistent savers who aren't likely to make a withdrawal for at least 6 months. Unlike its closest competitor, MB iSAVvy Plus rewards its base interest rate according to the average daily balance size, rather than the monthly deposit size. Base rates are also very competitive, peaking at 0.38% p.a. for balances of S$50,000+. This is beneficial for some, as consumers with higher balances will earn at higher base rates, even if their monthly deposit is smaller.
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Details & Requirements
Account Interest Rates Maybank iSAVvy Plus Savings Account Interest RatesBase Rate: No requirements (rate varies according to balance size)
Analyst's Review This is why Maybank iSAVvy Plus Savings Account is the best in Singapore for consumers for consistent large deposits. Maybank iSAVvy Plus Savings Account is another great option for consistent savers who aren't likely to make a withdrawal for at least 6 months. Unlike its closest competitor, MB iSAVvy Plus rewards its base interest rate according to the average daily balance size, rather than the monthly deposit size. Base rates are also very competitive, peaking at 0.38% p.a. for balances of S$50,000+. This is beneficial for some, as consumers with higher balances will earn at higher base rates, even if their monthly deposit is smaller. On the other hand, MB iSAVvy Plus's bonus structure does incentivise large monthly deposits. Consumers who manage to consistently increase their month-on-month balance for 6 months, with no withdrawals, earn 1.56% p.a. bonus interest, but just on the incremental gains (not the entire balance). In this way, those that make larger deposits will significantly boost their final effective interest rate. Learn About Other Maybank Products
Flexible Rewards for Consistent Savers: OCBC Bonus+Learn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why OCBC Bonus+ Savings Account is the best in Singapore for consumers for consistent savers. Consumers who often contribute to their savings accounts–but can't guarantee they won't make a withdrawal for months at a time–may be best-suited to OCBC Bonus+ Savings Account. Account holders earn 0.05% p.a. base interest, plus a 2.00% p.a. boost when they don't make a withdrawal that month. Consumers can also earn an extra 0.75% p.a. when they make a S$500+ deposit as well–adding up to a total potential 2.80% p.a. effective interest rate, at any balance size.
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Details & Requirements
Account Interest Rates OCBC Bonus+ Savings Account Interest RatesBase Rate: No requirements (applied to entire balance)
Analyst's Review This is why OCBC Bonus+ Savings Account is the best in Singapore for consumers for consistent savers. Consumers who often contribute to their savings accounts–but can't guarantee they won't make a withdrawal for months at a time–may be best-suited to OCBC Bonus+ Savings Account. Account holders earn 0.05% p.a. base interest, plus a 0.10% p.a. boost when they don't make a withdrawal that month. Consumers can also earn an extra 0.25% p.a. when they make a S$500+ deposit as well–adding up to a total potential 0.40% p.a. effective interest rate, at any balance size. OCBC Bonus+ is unique for two reasons. First, the bonus criteria applies to month-to-month behavior, rather than requiring 6+ months of growth with no withdrawals. Second, this is one of the few savings accounts where consumers can achieve the maximum effective interest rate regardless of balance size. As a result, OCBC Bonus+ Savings Account is one of the most flexible options for consistent savers on the market. Learn About Other OCBC Products
Best for Beginners with Stable Budgets: OCBC Monthly Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why OCBC Monthly Savings Account is the best in Singapore for consumers for beginners with stable budgets. OCBC Monthly Savings Account is perhaps the most straightforward account rewarding incremental growth–which makes it a great option for beginners seeking simplicity. Account holders earn at a standard base rate of 0.05% p.a., but can earn additional 0.05% p.a. boost if they don't make a withdrawal and deposit at least S$50 for the month. This qualifying deposit size is quite small, making OCBC MSA a more accessible version of OCBC Bonus+ (which offers a higher bonus, but requires at least a S$500 deposit). The account also has a low minimum age requirement of just 16 years old, has no initial deposit requirement, and has a very low minimum balance requirement of just S$500. Overall, these features make OCBC MSA a great option for younger savers seeking simplicity, while still offering a respectable 0.10% p.a. maximum effective interest rate. Learn About Other OCBC Products
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Details & Requirements
Account Interest Rates OCBC MSA Interest RatesBase Rate: No requirements (applied to entire balance)
Analyst's Review This is why OCBC Monthly Savings Account is the best in Singapore for consumers for beginners with stable budgets. OCBC Monthly Savings Account is perhaps the most straightforward account rewarding incremental growth–which makes it a great option for beginners seeking simplicity. Account holders earn at a standard base rate of 0.05% p.a., but can earn additional 0.05% p.a. boost if they don't make a withdrawal and deposit at least S$50 for the month. This qualifying deposit size is quite small, making OCBC MSA a more accessible version of OCBC Bonus+ (which offers a higher bonus, but requires at least a S$500 deposit). The account also has a low minimum age requirement of just 16 years old, has no initial deposit requirement, and has a very low minimum balance requirement of just S$500. Overall, these features make OCBC MSA a great option for younger savers seeking simplicity, while still offering a respectable 0.10% p.a. maximum effective interest rate. Learn About Other OCBC Products
Best Simple & Easy Savings Accounts in SingaporeNot all savings accounts in Singapore are complex – the following options offer great interest rates without any additional qualifications or requirements. Top Base Interest Rates: CIMB FastSaver Savings Account
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why CIMB FastSaver Savings Account is the best in Singapore for consumers for top base interest rates. No product on the market offers higher base interest rates than CIMB FastSaver Savings Account, which is also exceptionally easy to use. Base rates are tiered according to bands within the balance size; the 1st S$25,000 of the balance earns 1.50% p.a. interest, the next S$25,000 earns 2.50% p.a., the following S$25,000 earns 3.50% p.a., and any remaining amount earns 0.80% p.a. CIMB FastSaver offers a bonus on the first S$10,000 deposited. You are able to earn up to 4.20% if you spend a minimum of S$300 on your CIMB Visa Signiture card and apply for a CIMB investment or insurance product. This account is also very low maintenance as there are no fall below fees (though only balances of S$1,000 or more will earn interest). This makes CIMB FastSaver an exceptional option for those who want high rates but also value simplicity. Learn About Other CIMB Products
Details & Requirements
Account Interest Rates CIMB FastSaver SA Interest RatesBase Rate: No requirements (rate varies according to band of balance)
Analyst's Review This is why CIMB FastSaver Savings Account is the best in Singapore for consumers for top base interest rates. No product on the market offers higher base interest rates than CIMB FastSaver Savings Account, which is also exceptionally easy to use. Base rates are tiered according to bands within the balance size; the 1st S$25,000 of the balance earns 1.50% p.a. interest, the next S$25,000 earns 2.50% p.a., the following S$25,000 earns 3.50% p.a., and any remaining amount earns 0.80% p.a. CIMB FastSaver offers a bonus on the first S$10,000 deposited. You are able to earn up to 4.20% if you spend a minimum of S$300 on your CIMB Visa Signiture card and apply for a CIMB investment or insurance product. This account is also very low maintenance as there are no fall below fees (though only balances of S$1,000 or more will earn interest). This makes CIMB FastSaver an exceptional option for those who want high rates but also value simplicity. Learn About Other CIMB Products
High Base Rates for Modest Balances: RHB High Yield Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why RHB High Yield Savings Account is the best in Singapore for consumers for modest balances. RHB High Yield Savings Account is one of the simplest options on the market, making it a great for people who just want to deposit and earn without any extra effort or concentration. Consumers earn based on bands within their total balance. The 1st S$50,000 within a balance earns 1.20% p.a., the next S$25,000 at 1.30% p.a., the following S$25,000 at 1.40% p.a. and any remaining amount beyond S$100k earns 1.50% p.a. There is a minimum initial deposit requirement of S$1,000 and no monthly fall below fee. Overall, RHB High Yield is the best savings account for those with moderate to large balances who also prioritise simplicity. Learn About Other RHB Products
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Details & Requirements
Account Interest Rates RHB High Yield SA Interest RatesBase Rate: No requirements (rate varies according to band of balance)
Analyst's Review This is why RHB High Yield Savings Account is the best in Singapore for consumers for modest balances. RHB High Yield Savings Account is one of the simplest options on the market, making it a great for people who just want to deposit and earn without any extra effort or concentration. Consumers earn based on bands within their total balance. The 1st S$50,000 within a balance earns 1.20% p.a., the next S$25,000 at 1.30% p.a., the following S$25,000 at 1.40% p.a. and any remaining amount beyond S$100k earns 1.50% p.a. There is a minimum initial deposit requirement of S$1,000 and no monthly fall below fee. Overall, RHB High Yield is the best savings account for those with moderate to large balances who also prioritise simplicity. Learn About Other RHB Products
Best Low-Risk, Low-Maintenance Account for Beginners: CIMB StarSaver Savings Account
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why CIMB StarSaver is the best savings account in Singapore for consumers for low risk and low maintenance. If you're looking to open your first savings account, CIMB StarSaver is an incredible option, with a straightforward interest structure and very few requirements. In fact, this account has a minimum age requirement of just 16 years old, and has no minimum balance requirement (though only balances of S$1,000 or higher will earn interest). In terms of interest, account holders earn 1.50% p.a. on the first S$100k balance, 2.50% p.a. on the next S$150k and 3.50% p.a. beyond S$250k. The interest rates are based on account balance and there are no bonus interest rates for you to take note of. Overall, CIMB StarSaver is an excellent match for beginners looking for a low-maintenance and low-risk account. Learn About Other CIMB Products
Details & Requirements
Account Interest Rates CIMB StarSaver SA Interest RatesBase Rate: No requirements (Rate varies according to band of balance)
Analyst's Review This is why CIMB StarSaver is the best savings account in Singapore for consumers for low risk and low maintenance. If you're looking to open your first savings account, CIMB StarSaver is an incredible option, with a straightforward interest structure and very few requirements. In fact, this account has a minimum age requirement of just 16 years old, and has no minimum balance requirement (though only balances of S$1,000 or higher will earn interest). In terms of interest, account holders earn 1.50% p.a. on the first S$100k balance, 2.50% p.a. on the next S$150k and 3.50% p.a. beyond S$250k. The interest rates are based on account balance and there are no bonus interest rates for you to take note of. Overall, CIMB StarSaver is an excellent match for beginners looking for a low-maintenance and low-risk account. Learn About Other CIMB Products
Best for Frequent Travelers: HSBC Everyday Global AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Analyst's Review This is why HSBC Everyday Global Account is the best savings account in Singapore for frequent travelers. If you're someone that travels often to overseas, or transact transfer foreign currencies often, HSBC Everyday Global Account may be the best option for you. Consumers are provided with 9 foreign currencies to transact in, all without any FX fees involved for retail spending or international ATM withdrawal with the HSBC Everyday Global Debit Card. Using the HSBC Singapore App, you can transfer and receive money internationally with the HSBC Global Money Transfers to over 50 countries/territories like a local, and over 200 countries using SWIFT, China via UnionPay cards issued in Mainland China (only from non-RMB account), as well as instantly to other third-party HSBC bank accounts, all fee-free. You can also make FX transactions with real-time rates under the Online GetRate feature. Learn About Other HSBC Products
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Details & Requirements
Account Interest Rates HSBC Everyday Global Account Interest RatesBase Rate: No requirements (applies to entire balance)
Analyst's Review This is why HSBC Everyday Global Account is the best savings account in Singapore for frequent travelers. If you're someone that travels often to overseas, or transact transfer foreign currencies often, HSBC Everyday Global Account may be the best option for you. Consumers are provided with 9 foreign currencies to transact in, all without any FX fees involved for retail spending or international ATM withdrawal with the HSBC Everyday Global Debit Card. Using the HSBC Singapore App, you can transfer and receive money internationally with the HSBC Global Money Transfers to over 50 countries/territories like a local, and over 200 countries using SWIFT, China via UnionPay cards issued in Mainland China (only from non-RMB account), as well as instantly to other third-party HSBC bank accounts, all fee-free. You can also make FX transactions with real-time rates under the Online GetRate feature. Learn About Other HSBC Products
Straightforward Rates with Rewards for Growth: Standard Chartered e$aver Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase RateNo requirements; applied at entire balance0.05% p.a.Max Effective Interest Rate:2.00% p.a. (at S$1,000,000 balance) Promotional rates, if any, are not included Analyst's Review This is why Standard Chartered e$Saver Savings Account is the best in Singapore for getting growth rewards when saving and having straightforward rates. One option for consumers who want an easy to use account is Standard Chartered e$Saver Savings Account. As with similar alternatives, this account rewards a base interest rate of 0.05% regardless of account balance. There's no initial deposit requirement, but there is a S$1,000 minimum balance requirement and a sizable S$5/month fall below fee. While these rates aren't particularly impressive, SC e$aver Savings Account often offers promotions that boost its value. Consumers are incentivised to make large deposits into their accounts, as any incremental increases in their balance from month-to-month will earn an extra boost. These funds must be "fresh"–contributed from an outside source, rather than transferred within the Standard Chartered banking system, and it's important to reiterate that this bonus applies to the increase only (not to the entire balance). Nonetheless, this promotion is great for account holders who are capable of making large deposits over the next few months. Learn About Other Standard Chartered Products
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Details & Requirements
Account Interest Rates SC e$aver Interest RatesBase Rate: No requirements; applied at entire balance 0.0.5% p.a.Max EIR: 2.00% p.a. (at S$1,000,000 balance) Analyst's Review This is why Standard Chartered e$Saver Savings Account is the best in Singapore for getting growth rewards when saving and having straightforward rates. One option for consumers who want an easy to use account is Standard Chartered e$Saver Savings Account. As with similar alternatives, this account rewards a base interest rate of 0.05% regardless of account balance. There's no initial deposit requirement, but there is a S$1,000 minimum balance requirement and a sizable S$5/month fall below fee. While these rates aren't particularly impressive, SC e$aver Savings Account often offers promotions that boost its value. Consumers are incentivised to make large deposits into their accounts, as any incremental increases in their balance from month-to-month will earn an extra boost. These funds must be "fresh"–contributed from an outside source, rather than transferred within the Standard Chartered banking system, and it's important to reiterate that this bonus applies to the increase only (not to the entire balance). Nonetheless, this promotion is great for account holders who are capable of making large deposits over the next few months. Learn About Other SC Products
Respectable Rates for 15 Year Olds: Bank of China Passbook Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why Bank of China Passbook Savings Account is the best in Singapore for teenagers above 15 years old. Another simple and easy option worth considering is Bank of China Passbook Savings Account. There are no boost or bonus rates, but consumers can still earn elevated base rates for nearly all balance sizes. Base rates increase for larger balance sizes, up to 0.20% p.a. for those with balances of S$100,000 and up However, while this rate is much higher than the standard base rate of 0.05% p.a., consumers can enjoy higher rates with equal simplicity elsewhere. It's also worth mentioning that while the 15 year old minimum age requirement is one of the lowest on the market, young consumers won't benefit unless they're quite responsible. Unlike other accounts appealing to young adults, BOC Passbook has a S$1,000 minimum balance requirement and charges a S$2/month fall below fee. While this may seem insignificant, consider this–a S$8,000 balance earns less than S$2/month, so a fall below fee would actually have a net cost. Learn More Learn More
Details & Requirements
Account Interest Rates BOC Passbook Interest RatesBase Rate: No requirements (rate varies w/ balance size)
Analyst's Review This is why Bank of China Passbook Savings Account is the best in Singapore for teenagers above 15 years old. Another simple and easy option worth considering is Bank of China Passbook Savings Account. There are no boost or bonus rates, but consumers can still earn elevated base rates for nearly all balance sizes. Base rates increase for larger balance sizes, up to 0.20% p.a. for those with balances of S$100,000 and up However, while this rate is much higher than the standard base rate of 0.05% p.a., consumers can enjoy higher rates with equal simplicity elsewhere. It's also worth mentioning that while the 15 year old minimum age requirement is one of the lowest on the market, young consumers won't benefit unless they're quite responsible. Unlike other accounts appealing to young adults, BOC Passbook has a S$1,000 minimum balance requirement and charges a S$2/month fall below fee. While this may seem insignificant, consider this–a S$8,000 balance earns less than S$2/month, so a fall below fee would actually have a net cost. Appealing Option for Foreign Workers: Maybank Passbook Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Max EIR continues to increase towards 0.25% p.a. as balance size increases, though rate of increase slows exponentially. Max EIR reaches 0.249% p.a. when the balance reaches S$2.5 million. Promotional rates, if any, are not included Analyst's Review This is why Maybank Passbook Savings Account is the best in Singapore for consumers for foreign workers. Maybank Passbook Savings Account is remarkably simple in terms of its interest rates structure, but has a few unique features when considering eligibility. To begin with, savings earn interest according to tiers within the balance. In other words, the 1st S$50,000 of a balance earns at 0.1875% p.a. interest, and any remaining balance beyond S$50,000 earns 0.25% p.a. In terms of eligibility, there's a bit of unusual variation. There is an initial deposit requirement, but it varies by applicant type. Singaporeans & PR and Malaysians with a work permit must deposit S$500 upon opening an account; foreigners must deposit S$1,000, but foreigners with a work permit do not need to make an initial deposit at all. While this may seem to favor foreign workers, fall below fees are actually stricter for foreigners. Singaporeans & PR face a S$2/month fee, while foreigners are charged S$5/month. As a result, this is a worthwhile account for foreign workers who have trouble qualifying elsewhere, as long as they can reliably maintain the minimum required balance of S$1,000. Learn About Other Maybank Products
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Details & Requirements
Account Interest Rates MB Passbook Interest RatesBase Rate: No requirements (rate varies according to band of balance)
Max EIR continues to increase towards 0.25% p.a. as balance size increases, though rate of increase slows exponentially. Max EIR reaches 0.249% p.a. when the balance reaches S$2.5M Analyst's Review This is why Maybank Passbook Savings Account is the best in Singapore for consumers for foreign workers. Maybank Passbook Savings Account is remarkably simple in terms of its interest rates structure, but has a few unique features when considering eligibility. To begin with, savings earn interest according to tiers within the balance. In other words, the 1st S$50,000 of a balance earns at 0.1875% p.a. interest, and any remaining balance beyond S$50,000 earns 0.25% p.a. In terms of eligibility, there's a bit of unusual variation. There is an initial deposit requirement, but it varies by applicant type. Singaporeans & PR and Malaysians with a work permit must deposit S$500 upon opening an account; foreigners must deposit S$1,000, but foreigners with a work permit do not need to make an initial deposit at all. While this may seem to favor foreign workers, fall below fees are actually stricter for foreigners. Singaporeans & PR face a S$2/month fee, while foreigners are charged S$5/month. As a result, this is a worthwhile account for foreign workers who have trouble qualifying elsewhere, as long as they can reliably maintain the minimum required balance of S$1,000. Learn About Other Maybank Products
Best Accounts with No Fees & No Minimum BalanceLooking for a low-maintenance option without fees or minimum balance requirements, these savings accounts in Singapore are definitely worth considering. Low-Risk Starter Account for Young Adults: OCBC Frank Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why OCBC Frank Savings Account is the best in Singapore for consumers for young adults. OCBC Frank Savings Account is a great option for young adults who want to earn at competitive interest rates, but don't want to worry about extra fees. To begin with, it's especially easy to qualify for, and get started with, an OCBC Frank account. In fact, consumers as young as 16 years old can apply–which is notably younger than the 18 year old standard. In addition, there's no minimum income or salary requirement, which further lowers the barrier to entry. Finally, there's no initial deposit requirement; many banks require an initial deposit of at least S$500. OCBC Frank Savings Account stands out as especially great for young adults because those under 26 years old are exempt from virtually all fees and minimums. Not only is there no initial deposit requirements, there also aren't any monthly service fees or "fall below fees." Essentially, this means young account holders do not have a minimum balance requirement, which is quite rare–nearly all banks require all account holders to maintain a daily balance of S$500–S$5,000. It's worth mentioning, however, that adult OCBC Frank account holders (aged 26+) aren't exempt from a minimum requirement balance. In fact, a minimum balance of S$1,000 is required. Nonetheless, falling below this minimum incurs just a S$2 monthly service fee. For small balance sizes (less than S$12,000), this could mean cancelling out all interest earned (and more), but for larger balances, this fee would have less of an impact. Still, OCBC Frank is expressly structured to benefit young adults, and is best suited to young savers. Learn About Other OCBC Products
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Details & Requirements
Account Interest Rates OCBC Frank Interest RatesBase Rate: No requirements (varies according to band of balance)
Analyst's Review This is why OCBC Frank Savings Account is the best in Singapore for consumers for young adults. OCBC Frank Savings Account is a great option for young adults who want to earn at competitive interest rates, but don't want to worry about extra fees. To begin with, it's especially easy to qualify for, and get started with, an OCBC Frank account. In fact, consumers as young as 16 years old can apply–which is notably younger than the 18 year old standard. In addition, there's no minimum income or salary requirement, which further lowers the barrier to entry. Finally, there's no initial deposit requirement; many banks require an initial deposit of at least S$500. OCBC Frank Savings Account stands out as especially great for young adults because those under 26 years old are exempt from virtually all fees and minimums. Not only is there no initial deposit requirements, there also aren't any monthly service fees or "fall below fees." Essentially, this means young account holders do not have a minimum balance requirement, which is quite rare–nearly all banks require all account holders to maintain a daily balance of S$500–S$5,000. It's worth mentioning, however, that adult OCBC Frank account holders (aged 26+) aren't exempt from a minimum requirement balance. In fact, a minimum balance of S$1,000 is required. Nonetheless, falling below this minimum incurs just a S$2 monthly service fee. For small balance sizes (less than S$12,000), this could mean cancelling out all interest earned (and more), but for larger balances, this fee would have less of an impact. Still, OCBC Frank is expressly structured to benefit young adults, and is best suited to young savers. Learn About Other OCBC Products
Option for Low Income & Full-Time NSF: POSB Everyday Savings AccountLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Promotional rates, if any, are not included Analyst's Review This is why POSB Everyday Savings Account is the best in Singapore for consumers for low income and young NSF. POSB Everyday Savings Account is one of the most accessible accounts on the market, especially for individuals who are either unsalaried or not working full-time. The account is open to individuals as young as 16 years old, and there's no minimum initial deposit requirement, which makes it easier to get started. What stands out most, however, is that a variety of groups are exempt from fall-below fees (or in other words, are not held to a daily minimum balance requirement). Individuals below 21 years old, above 60 years old, recipients of public assistance, full-time NSF, or who are opening their first account are all exempt. People who do not fall into these categories, however, will be charged S$2/month if their daily balance falls below S$500. In terms of rates, POSB Everyday Account is fairly straightforward. Consumers earn 0.05% p.a. on their entire balance, regardless of its size. This rate is roughly in line with the market standard for base rates, though many accounts offer additional boosts and bonuses. While POSB Everyday Account lacks such bonus rates, it's very easy to use and is accessible to many groups. Learn About Other POSB Products
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Details & Requirements
Account Interest Rates POSB Everyday Interest RatesBase Rate: No requirements
Analyst's Review This is why POSB Everyday Savings Account is the best in Singapore for consumers for low income and young NSF. POSB Everyday Savings Account is one of the most accessible accounts on the market, especially for individuals who are either unsalaried or not working full-time. The account is open to individuals as young as 16 years old, and there's no minimum initial deposit requirement, which makes it easier to get started. What stands out most, however, is that a variety of groups are exempt from fall-below fees (or in other words, are not held to a daily minimum balance requirement). Individuals below 21 years old, above 60 years old, recipients of public assistance, full-time NSF, or who are opening their first account are all exempt. People who do not fall into these categories, however, will be charged S$2/month if their daily balance falls below S$500. In terms of rates, POSB Everyday Account is fairly straightforward. Consumers earn 0.05% p.a. on their entire balance, regardless of its size. This rate is roughly in line with the market standard for base rates, though many accounts offer additional boosts and bonuses. While POSB Everyday Account lacks such bonus rates, it's very easy to use and is accessible to many groups. Learn About Other POSB Products
Best Savings Accounts for Wealthy ConsumersThose who are financially capable of making larger investments or maintaining higher balances can benefit from the exceptional high interest rates offered by the following savings accounts in Singapore. Best for High Earning High Spenders: Citigold Priority Banking & Wealth ManagementLearn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase RateNo Requirements; applied to entire balance0.01% p.a.Grow Bonus
Promotional rates, if any, are not included Analyst's Review Citigold is Citibank’s investment-focused priority banking service which comes with a whole host of perks and benefits, including a maximum EIR of 2.8% on the Citi Wealth First savings account, a dedicated Citigold relationship manager and a team of experts to grow your wealth, exclusive market insights from over 400 analysts from around the world and a wealth management tool to manage your finances. The service is geared towards individuals with high net worth, and applicants are required to make a minimum deposit or investment of at least S$250,000 in order to qualify for the program. For individuals who fit the criteria and prioritise investment to grow their wealth, the Citigold priority banking service would be a perfect fit for their financial needs. By spending a minimum of S$250 with Citibank debit, purchasing investment of at least S$50,000 in a month, buying new insurance policies with premiums worth S$50,000, getting a new home loan of S$500,000, and growing their account balance by S$3,000, Citigold members can earn an EIR of up to 2.8% p.a. bonus interest on their Citi Wealth First savings account. Best for Jetsetters: HSBC Everyday Global Account (Premier)Learn More Learn More
Details & Requirements
Current Interest Rates Rate TypeDetails & RequirementsInterest RateBase Rate
Analyst's Review This is why HSBC Premier Everyday Global Account is the best savings account in Singapore for jetsetters. If you're someone that travels often to overseas, or transact transfer foreign currencies often, HSBC Everyday Global Account may be the best option for you. Consumers are provided with 9 foreign currencies to transact in, all without any FX fees involved for retail spending or international ATM withdrawal with the HSBC Everyday Global Debit Card. Using the HSBC Singapore App, you can transfer and receive money internationally with the HSBC Global Money Transfers to over 50 countries/territories like a local, and over 200 countries using SWIFT, China via UnionPay cards issued in Mainland China (only from non-RMB account), as well as instantly to other third-party HSBC bank accounts, all fee-free. You can also make FX transactions with real-time rates under the Online GetRate feature. Learn About Other HSBC Products
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Details & Requirements
Account Interest Rates HSBC Everyday Premier Global Savings Account Interest RatesBase Rate: No requirements (applies to entire balance)
Analyst's Review This is why HSBC Premier Everyday Global Account is the best savings account in Singapore for jetsetters. If you're someone that travels often to overseas, or transact transfer foreign currencies often, HSBC Everyday Global Account may be the best option for you. Consumers are provided with 9 foreign currencies to choose transact in, all without any FX fees involved for retail spending or international ATM withdrawal with the HSBC Everyday Global Debit Card. Using the HSBC Singapore App, you can transfer and receive money internationally with the HSBC Global Money Transfers to over 50 countries/territories like a local, and over 200 countries using SWIFT, China via UnionPay cards issued in Mainland China (only from non-RMB account), as well as instantly to other third-party HSBC bank accounts, all fee-free. You can also make FX transactions with real-time rates under the Online GetRate feature. Learn About Other HSBC Products
Regular Savings Plan: Higher Potential Risks & RewardsIf you're interested in taking a step beyond a traditional savings account, we have included the best Regular Savings Plan in Singapore for you to consider. Invest Your Monthly Deposits: Saxo Regular Savings PlanLearn More Learn More
Details & Requirements
Analyst's Review This is why Saxo Regular Savings Plan is the best savings account in Singapore for investing your monthly deposits. Those seeking an alternative to a traditional savings account, might be interested in Saxo Regular Savings Plan. This investment account requires individuals to contribute monthly and typically offers higher returns than a traditional savings account. However, unlike a traditional savings account, Saxo RSP entails additional risk, as funds are invested in stocks, ETFs and unit trusts (rather than keeping funds in the bank, where they're effectively guaranteed). What makes Saxo RSP stand out is that it offers access to managed portfolios at a fraction of the cost of typical wealth managers (0.75% p.a.). Not only that, Saxo's RSP requires a minimum monthly investment of just S$100, compared to as much as S$500 by other managed RSPs. Saxo is also partnered with asset manager BlackRock, in order to develop a variety of portfolios based on one's preferred risk profile. Learn About Other Saxo Products
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Details & Requirements
Analyst's Review This is why Saxo Regular Savings Plan is the best savings account in Singapore for investing your monthly deposits. Those seeking an alternative to a traditional savings account, might be interested in Saxo Regular Savings Plan. This investment account requires individuals to contribute monthly and typically offers higher returns than a traditional savings account. However, unlike a traditional savings account, Saxo RSP entails additional risk, as funds are invested in stocks, ETFs and unit trusts (rather than keeping funds in the bank, where they're effectively guaranteed). What makes Saxo RSP stand out is that it offers access to managed portfolios at a fraction of the cost of typical wealth managers (0.75% p.a.). Not only that, Saxo's RSP requires a minimum monthly investment of just S$100, compared to as much as S$500 by other managed RSPs. Saxo is also partnered with asset manager BlackRock, in order to develop a variety of portfolios based on one's preferred risk profile. Learn About Other Saxo Products
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Zoryana Melesh Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. She holds a BA in Political Science and an MPA in International Finance and Economic Policy, both from Columbia University. Prior to joining ValueChampion, Zoryana worked in treasury management consulting. Our Top Picks
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Keep up with our news and analysis. Stay up to date. Subscribe{"endpoint":"\/newsletter\/subscribe","style":"blue","title":"Keep up with our news and analysis.","version":"sidebar"} Which bank has the highest high yield savings?Best High-Yield Savings Account Rates. CFG Bank - 4.00% APY.. UFB Direct - 3.91% APY.. MySavingsDirect - 3.90% APY.. Bask Bank - 3.85% APY.. BrioDirect - 3.75% APY.. Fitness Bank - 3.75% APY*. TAB Bank - 3.64% APY.. Valley Direct - 3.60% APY.. Which bank gives 6% interest in savings account?Digital Federal Credit Union offers 6.17%, Blue Federal Credit Union offers 5.00%, Landmark Credit Union offers 7.50%, online bank Mango Money offers 6.00% and Consumers Credit Union and online bank T-Mobile Money, both offer 4.00%.
Which high yield savings account is best for me?Best high-yield savings accounts. Best overall: LendingClub High-Yield Savings.. Best for no fees: Marcus by Goldman Sachs High Yield Online Savings.. Best for checking/savings combo: Ally Online Savings Account.. Best for easy access to your cash: Synchrony Bank High Yield Savings.. What is the downside of a high yield savings account?High-yield savings accounts are easy to open and accessible for many people. But they do have a few downsides, including a lack of ATM access, variable APYs, and withdrawal limits.
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