Savings Accounts
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Best Savings Accounts in Singapore (2024)

Find the best savings account in Singapore that offers the best interest rates with Singsaver.

Whether you are fresh graduate starting out or just looking for a high-yield account to park your extra funds, find your ideal savings account for your specific needs here. Compare between banks to find an account with low fees, high interest rate, and hassle-free eligibility. Apply now to open the best savings account for your needs on Singsaver to growing your savings.

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FEATURED
Citigold

Citigold

Min. Deposit
S$ 250,000
Min. Annual Interest Rate
0.01  %
Max. Annual Interest Rate
7.51  %

3 Offers Available

Exclusive Time Deposit Promotion
PLUS up to 3.0% p.a. (S$3,750 cash) on a 6-month SGD Time Deposit
PLUS up to 3.0% p.a. (S$3,750 cash) on a 6-month SGD Time Deposit

Valid until

30 June 2024

SingSaver Exclusive Offer
40,000 Max Miles
40,000 Max Miles

Valid until

30 June 2024

SingSaver Exclusive Offer
S$800 Cash via PayNow
S$800 Cash via PayNow

Valid until

30 June 2024

FEATURED
Standard Chartered Priority Banking

Standard Chartered Priority Banking

Min. Initial Deposit
S$ 200,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
7.88  %

Offer Available

Welcome Offer
Up to S$6,000 account credit
Up to S$6,000 account credit

Valid until

30 June 2024

Citigold

Citigold

Min. Deposit
S$ 250,000
Min. Annual Interest Rate
0.01  %
Max. Annual Interest Rate
7.51  %

3 Offers Available

Exclusive Time Deposit Promotion
PLUS up to 3.0% p.a. (S$3,750 cash) on a 6-month SGD Time Deposit
PLUS up to 3.0% p.a. (S$3,750 cash) on a 6-month SGD Time Deposit

Valid until

30 June 2024

SingSaver Exclusive Offer
40,000 Max Miles
40,000 Max Miles

Valid until

30 June 2024

SingSaver Exclusive Offer
S$800 Cash via PayNow
S$800 Cash via PayNow

Valid until

30 June 2024

Standard Chartered Priority Banking

Standard Chartered Priority Banking

Min. Initial Deposit
S$ 200,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
7.88  %

Offer Available

Welcome Offer
Up to S$6,000 account credit
Up to S$6,000 account credit

Valid until

30 June 2024

CIMB StarSaver Account

CIMB StarSaver Account

Min. Deposit
S$ 1,000
Min. Annual Interest Rate
1.5  %
Max. Annual Interest Rate
3.5  %
HSBC Everyday Global Account

HSBC Everyday Global Account

Min. Deposit
S$ 100
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
Up to 4.6  %
info
Standard Chartered Bonus$aver Account

Standard Chartered Bonus$aver Account

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
0.01  %
Max. Annual Interest Rate
7.88  %
Citi Wealth First Account

Citi Wealth First Account

Min. Initial Deposit
S$ 250,000
Min. Annual Interest Rate
0.01  %
Max. Annual Interest Rate
7.51  %
Citi Plus

Citi Plus

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
1.5  %
Max. Annual Interest Rate
4  %
HSBC Everyday Global Account (Premier)

HSBC Everyday Global Account (Premier)

Min. Initial Deposit
S$ 200,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
Up to 4.6  %
info
UOB Stash Account

UOB Stash Account

Min. Initial Deposit
S$ 1,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
5  %
UOB One Account

UOB One Account

Min. Initial Deposit
S$ 1,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
7.8  %
UOB Lady's Savings Account

UOB Lady's Savings Account

Min. Initial Deposit
S$ 1,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
0.05  %
KrisFlyer UOB Account

KrisFlyer UOB Account

Min. Initial Deposit
S$ 1,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
0.05  %
HSBC Time Deposit

HSBC Time Deposit

Min. Initial Deposit
S$ 5,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
3.65  %
CIMB FastSaver Account

CIMB FastSaver Account

Min. Initial Deposit
S$ 1,000
Min. Annual Interest Rate
3.5  %
Max. Annual Interest Rate
3.5  %
BOC SmartSaver

BOC SmartSaver

Min. Initial Deposit
S$ 1,500
Min. Annual Interest Rate
0.2  %
Max. Annual Interest Rate
3  %
Maybank Save Up Programme

Maybank Save Up Programme

Min. Initial Deposit
S$ 500
Min. Annual Interest Rate
0.19  %
Max. Annual Interest Rate
3  %
DBS Multiplier Account

DBS Multiplier Account

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
3  %

Things to consider for this product:

check

Popular

POSB Multiplier Account

POSB Multiplier Account

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
3  %

Things to consider for this product:

check

Popular

OCBC 360 Account

OCBC 360 Account

Min. Initial Deposit
S$ 1,000
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
2.68  %
Savings Account By Trust

Savings Account By Trust

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
1.5  %
Max. Annual Interest Rate
3  %
POSB SAYE Account

POSB SAYE Account

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
2  %
POSB eMySavings Account

POSB eMySavings Account

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
0.25  %
OCBC Frank Account

OCBC Frank Account

Min. Initial Deposit
S$ 0
Min. Annual Interest Rate
0.05  %
Max. Annual Interest Rate
0.2  %

Best Savings Accounts in Singapore

Product Name

Minimum deposit

Max Annual Interest Rate

S$0

3%

S$1,500

3%

S$500

3%

OCBC 360 Account
S$1,000

2.68%

S$0

7.88%

 

Latest Savings Account News

Read the latest news about Savings Account products in Singapore and the best money saving tips.

Need some help?

No worries, we've got you covered!

What is a savings account?

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It is a type of bank account you open to deposit funds. It generates interest at a more favourable rate than checking/current accounts while giving you the flexibility for you to withdraw funds. Savings accounts are different from other type of cash deposit instruments like investments and fixed deposits, as they allow you to withdraw cash without penalty.

Who can open a savings account online?

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Those aged 16 and below will need to open a kids account and those aged 55 and above will have to open a senior account. Everyone else can open a savings account.

What’s the difference between a savings account and a current account?

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The main difference is that a savings account earns interest while a current account doesn’t. However, banks have started offering interest on current accounts too. Current accounts also come with a cheque book to enable payments of large sums to another party. Both savings and current accounts have ATM card facilities, allow payments or transfers via Internet banking and GIRO facility.

Is an ATM card available with my savings account?

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All savings accounts come with ATM cards that can be used at designated ATMs, including affiliated ATMs from other banks. Both cash withdrawals and deposits are available at your bank ATMs. Local withdrawals are free of charge and overseas withdrawals are charged a fee.

What documents do I need when applying for an account?

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To open an account, you must complete the application forms. In addition, the bank requires NRIC Identity Card for Singaporeans and Permanent Residents. Foreigners need their passport, Employment Pass or S Pass, company letter and proof of residential address.

How much interest can I earn with a savings account?

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The base interest rate for savings accounts are pretty low, starting from 0.05% p.a. Banks have promotions whereby they offer bonus interest rates on savings accounts if you meet certain conditions. Depending on the savings account and the promotion, you can earn up to 4.25% p.a. in your savings account.

How do I apply for a savings account?

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Most banks allow new customers to open a savings account online. Complete the relevant forms and upload the necessary documents. The bank will contact you to verify your details and complete the account opening. You can also download the forms, complete them and mail it to the bank. You can also visit a branch and open an account in-person. If you’re an existing customer, it’s straightforward and hassle-free. Opening an account online is also a breeze through your bank’s iBanking system.

How do I choose the best savings account for me?

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Consider the reasons why you’re opening the savings bank account. If it’s for transactional purposes, you need one that allows you easy access to your funds such as the ease of cashless payment modes or a wide network of ATMs. But if your goal is to save and grow your money, you’re better off choosing an account that offers you a higher interest on savings.

Can I convert my account into a joint account?

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Mostly Yes. Visit a branch with the person you want to create a joint account with. They’ll need the same info and documents they’d need as though they were opening their own account. Also note, some accounts can’t be converted into a joint account (for example, DBS Multiplier account), for such cases check with your bank.

How do I close my savings account?

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You’ll need to visit a branch and bring proof of your identity such as your NRIC.