Best Savings Accounts in Singapore (2026)
Updated: 7 Apr 2026
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.
Product Name | Hot Reward Pick | SingSaver Reward | Min. Deposit | Min. Annual Interest Rate | Max. Annual Interest Rate | ||
|---|---|---|---|---|---|---|---|
 | Citigold | S$1,599 | S$350,000 | 0.01 % | 7.51 % | ||
 | Standard Chartered Bonus$aver Account | - | - | S$3,000 | 0.05 % | 5.85 % | |
| Standard Chartered Bonus$aver Account + Bonus$aver Mastercard Bundle | - | - | S$3,000 | 0.05 % | 5.85 % | |
 | HSBC Everyday Global Account | - | - | S$70,000 | 0.05 % | 2.60 % p.a. | |
 | HSBC Everyday Global Account (Premier) | - | - | S$200,000 | 0.05 % | 4.00 % | |
 | Citi Plus | - | - | S$0 | 1.5 % | 4 % | |
 | Savings Account By Trust | - | - | S$0 | 0.5 % | 2.0 % | |
 | UOB Lady's Savings Account | - | - | S$1,000 | 0.05 % | 0.05 % | |
 | POSB eMySavings Account | - | - | S$0 | 0.05 % | 0.25 % | |
 | GXS Savings Account | - | - | S$0 | 1.68 % | 2.58 % | |
 | Mari Savings Account | - | - | S$0 | 1.28 % p.a. | 2.50 % | |
 | OCBC 360 Account | - | - | S$1,000 | 0.05 % | 2.68 % | |
| OCBC MyOwn Account | - | - | S$0 | 0.05 % | 0.5 % p.a. |
Min. Deposit
S$ S$
350,000Min. Annual Interest Rate
0.01 %Max. Annual Interest Rate
7.51 %Apply through SingSaver and choose from 4 premium rewards (Actual Gift eligibility depends on the deposit amount provided in the terms and conditions)
SingSaver Exclusive Rewards
- Get Upsized S$1,500 Cash or an Apple iPhone 17 512GB (worth S$1,599) or Green Time at Sentosa Golf Club Singapore (worth S$1,504) when you make a deposit of S$500,000 and make a new qualified investment of minimum S$100,000 within 3 calendar months of account opening, including the month of account opening
- Get Upsized S$1,500 Cash or an Apple iPhone 17 512GB (worth S$1,599) or Green Time at Sentosa Golf Club Singapore (worth S$1,504) when you make a deposit of S$500,000 and successfully sign up as an Accredited Investor (AI) within 3 calendar month of account opening, including the month of account opening
- Get Upsized S$1,200 Cash or an Apple iPhone 17 256GB (worth S$1,299) or Green Time at Sentosa Golf Club Singapore (worth S$1,286) when you make a deposit of S$350,000 and successfully sign up as an Accredited Investor (AI) on an individual basis in the capacity as a primary accountholder within 3 calendar months of account opening, including the month of account opening.
- Alternatively, get Upsized S$900 Cash when you deposit S$350,000 within 3 calendar months of account opening, including the month of account opening.
- Enjoy additional S$200 Cash when you make a deposit of S$350,000 within the second month of account opening and maintain the funds until gift fulfilment.
Stackable Citi Rewards
- S$888 when you sign up as an Accredited Investor
- For every S$100k of Investment/Insurance purchase by MOB 3, customers enjoy S$1000 cash
- Enjoy Citigold Preferential Time Deposit Rates. (Up to 1.35% p.a. on 6-mth SGD Time Deposit; Up to 1.45% p.a. on 3-mth SGD Time Deposit) T&Cs apply.
- Terms and Conditions apply.
- Citigold Exclusive Benefits and Privileges
- Enjoy up to 7.51% p.a. interest when you join Citigold and open a Wealth First account. T&Cs apply.
- Enjoy zero foreign transaction or currency conversion fees in over 15 currencies with Citibank Global wallet when you pay with your Citigold Debit Mastercard.
- Enjoy 0%* commission buy trades online for U.S. & Hong Kong markets for 6 months when you open a new Citibank Brokerage account.
- Get wealth management advice and solutions from a dedicated Relationship Manager and team of wealth specialists
- Receive in-depth global market insights and research knowledge from a team of over 350+ research analysts.
- Enjoy fully personalised wealth management solutions with Citigold's Total Wealth Advisor.
- Citigold status is maintained at Citibank branches overseas.
- Read our full review of Citigold
- What is an Accredited Investor?
- An Accredited Investor is someone who meets the requirements set out by the Monetary Authority of Singapore (MAS) and has opted in to be treated as an Accredited Investor by the bank. Accredited Investors generally have access to a wider range of investment products than non-Accredited Investors, and at the same time require less regulatory protection.
- How to be an Accredited Investor
- Start your wealth journey with Citigold and speak to your relationship manager.
- Advantages of an Accredited Investor
- Diversified wealth opportunities
- Access to a more comprehensive range of financial products and services available only to Accredited Investors
- Access to a team of wealth experts
- Connect with an experienced Relationship Manager and a team of wealth experts who will partner you to achieve your wealth goals
- Wide range of investments
- Trade in Bonds, Structured Notes and restricted Investment Funds without the minimum S$200k per transaction requirement
- Eligibility for Accredited Investor
- Net personal assets exceeding S$2 million in value (or its equivalent in a foreign currency); or
- Financial assets (net of any related liabilities) exceeding S$1 million in value (or its equivalent in a foreign currency); or
- An income in the preceding 12 months of not less than S$300,000 (or its equivalent in a foreign currency)
Eligibility
Minimum Age: 18 years old
Min. Deposit
S$ S$
3,000Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
5.85 %- Earn up to 5.85% interest p.a. on deposit balances of up to S$100,000 with Bonu$aver.
- Unlock Invest category to enjoy 1.5% p.a. bonus interest for first 6 months
- Additional 4.35% p.a. interest when you insure, spend or credit your salary.
- T&Cs apply.
- Transact in up to 14 currencies from your account, convert at competitive FX exchange rates and enjoy S$0 fees for overseas transactions
- Invest a minimum of S$30,000 in an SC Invest portfolio and earn 2.50% p.a. bonus interest for 6 months on your Bonus$aver account
- MoneyLock: Protect your funds from scams and unauthorised transfers or withdrawals with our new anti-scam security feature.
- Read our full review of the Standard Chartered Bonus$aver
- Fall-below fee of S$5 if average daily balance falls below S$3,000
- Early closure fee of S$30 if account is closed within 6 months
- The average daily balance eligible for bonus interest is subject to a cap of S$100,000 per Bonus$aver account. Any average daily balance amount in excess of the cap is not eligible for bonus interest (but the prevailing interest rates will apply)
Eligibility
Minimum Age: 18 years old
Min. Deposit
S$ S$
3,000Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
5.85 %- Earn up to 5.85% interest p.a. on deposit balances of up to S$100,000 with Bonu$aver.
- Unlock Invest category to enjoy 1.5% p.a. bonus interest for first 6 months
- Additional 4.35% p.a. interest when you insure, spend or credit your salary.
- T&Cs apply.
- Transact in up to 14 currencies from your account, convert at competitive FX exchange rates and enjoy S$0 fees for overseas transactions
- Invest a minimum of S$20,000 in an SC Invest portfolio and earn 2.50% p.a. bonus interest for 6 months on your Bonus$aver account
- MoneyLock: Protect your funds from scams and unauthorised transfers or withdrawals with our new anti-scam security feature.
- Read our full review of the Standard Chartered Bonus$aver
- Fall-below fee of S$5 if average daily balance falls below S$3,000
- Early closure fee of S$30 if account is closed within 6 months
- The average daily balance eligible for bonus interest is subject to a cap of S$100,000 per Bonus$aver account. Any average daily balance amount in excess of the cap is not eligible for bonus interest (but the prevailing interest rates will apply)
Eligibility
Minimum Age: 21 years old
Min. Deposit
S$ S$
70,000Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
2.60 % p.a.- Bonus cashback and interest granted by spending on HSBC debit cards and increasing account balance
- Sign up using SingPass MyInfo to enjoy a quicker application process
- Global Transfers lets you transfer funds to your other HSBC accounts instantly
- Get real-time exchange rates with HSBC's Online GetRate feature
- S$0 withdrawal fees at HSBC ATMs worldwide except for Argentina, Brazil, France, Greece, and several other nations
- Insured up to S$75,000 by SDIC. Additional T&Cs apply.
- Standing instruction fee of S$10 per item
- Fall-below fee of S$5 if average daily balance falls below S$2,000
Eligibility
Minimum Age: 18 years old
Min. Initial Deposit
S$ S$
200,000Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
4.00 %- Enjoy a quicker application process when you sign up via Singpass Myinfo
- Get access to a Family Relationship Manager for holistic advice and recommendations
- Choose from a wide range of options from securities trading, to Unit Trust to Structured Products
- HSBC Premier status is retained at HSBC branches overseas
- Receive complimentary consultations and assisted enrolment services regarding your child's overseas education needs (Related services are provided by 3rd parties)
- HSBC Premier privileges can be extended to your spouse and up to three children
- S$50 monthly service fee if Total Relationship Balance falls below S$200,000
Eligibility
Minimum Age: 18 years old
Citi Plus
Min. Initial Deposit
S$ S$
0Min. Annual Interest Rate
1.5 %Max. Annual Interest Rate
4 %- Earn up to 4.0% p.a. with the Citi Interest Booster Account
- Boost your returns with up to 2% cash back* (capped at S$2,000) on your Citi Cash Back+ Mastercard® Credit Card when you spend min. S$500 for a period of 12 months. In addition, enjoy up to S$699 worth of exciting gifts. T&Cs apply.
- Level up your financial literacy with wealth insights and bite-sized personal finance education content
- Access to stocks, investment funds, FX and a wide range of other financial solutions, so you can invest easily, anytime and anywhere, with the Citi Mobile App
- Achieve your goals and protect yourself from life's uncertainties with insurance solutions built around you and your changing needs
- 0.2% p.a. bonus interest earned on savings is only applicable on the incremental account balance
Eligibility
Minimum Age: 18 years old
Savings Account By Trust
Min. Initial Deposit
S$ S$
0Min. Annual Interest Rate
0.5 %Max. Annual Interest Rate
2.0 %- Earn up to 2.0% p.a. on your first S$1.2M deposit. Insured up to S$100k by SDIC.
- Earn up to 11% savings in Linkpoints on FairPrice Group groceries and food spend
- Fast and easy sign-up.
- 24/7 in-app customer support
- No minimum balance and no lock-in period
- No monthly fee or fall below fee
- No account closure fee
- No foreign transaction fee
- No card replacement fee
- One savings account with up to 5 savings pots
- Easy cash withdrawal from Trust / Standard Chartered Bank (SCB)’s ATM located across the island as well as overseas ATM with Visa enabled.
- Min. age requirement: 16 years old
- Min. monthly income: S$0
Eligibility
Minimum Age: 16 years old
UOB Lady's Savings Account
Min. Initial Deposit
S$ S$
1,000Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
0.05 %- SuperSalary Bonus!: Earn 1% cash reward on your monthly salary credited when you save min. 20% of your salary. No min. salary credit amount required.
- SuperMom Bonus!: Earn 1% cash reward on funds deposited into your joint Junior Savers Account with your child every month. No min. deposit required.
- Enjoy female cancer coverage of up to S$200,000 and a suite of medical, dental, and wellness benefits
- No medical assessment required to receive female cancer coverage
- Complimentary yearly health check
- Enjoy dental services at S$95 nett at 14 clinics islandwide
- Enjoy a S$13 medical consultation rate across 500 clinics islandwide for you and up to 4 dependents
- Participate in complimentary Pilates group classes or discounted in-studio Pilates Mobility Fitness Sessions at S$107
- Read our full review of the UOB Lady's Savings Account
- Min. initial deposit of S$1,000 required
- S$2 charge applies if daily average balance for the month falls below $1,000
Eligibility
Minimum Age: 16 years old
POSB eMySavings Account
Min. Initial Deposit
S$ S$
0Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
0.25 %- Earn 0.25% p.a. when you deposit at least S$1,500 per month
- You can already start earning interest on your savings with a min. deposit of S$50
- Monthly savings amount and date can be changed via iBanking
- No initial deposit required
- No fees
- Insured up to S$75,000 by SDIC. Additional T&Cs apply.
- You will need to have an existing DBS/POSB savings or current account
Eligibility
Minimum Age: 16 years old
GXS Savings Account
Min. Initial Deposit
S$ S$
0Min. Annual Interest Rate
1.68 %Max. Annual Interest Rate
2.58 %- Interest is calculated and credited daily, allowing for faster compounding.
- No account maintenance fees or minimum balance requirements.
- Create up to 8 Savings Pockets and 2 Boost Pockets to organize and optimize your savings goals.
- Offers higher interest rates compared to many traditional savings accounts, especially with Boost Pockets.
- Fully digital account management through the GXS app, facilitating easy transfers and monitoring.
- Upcoming decrease in interest rates for Main Account and Savings Pockets starting 30 May 2025.
- Boost Pockets have a combined maximum deposit limit of S$60,000, which may not suffice for those with larger savings.
- Currently, the account lacks features like GIRO arrangements and cash deposit/withdrawal capabilities through ATMs.
Eligibility
Minimum Age: 16 years old
Mari Savings Account
Min. Deposit
S$ S$
0Min. Annual Interest Rate
1.28 % p.a.Max. Annual Interest Rate
2.50 %- You can start with S$0 and no minimum spend or salary crediting needed
- Earn interest daily and watch your balance grow each day
- FAST/PayNow and selected overseas transfers are fee-free
- Link to ShopeePay for exclusive rewards; digital-only bank with app-based features and 24/7 in-app chat
- Maximum S$100,000 per account—higher savings need splitting across accounts
- Fully digital; withdrawals require transfers to other banks, not ATMs"
Eligibility
Minimum Age: 16 years old
OCBC 360 Account
Min. Deposit
S$ S$
1,000Min. Annual Interest Rate
0.05 %Max. Annual Interest Rate
2.68 %- Earn bonus interest p.a. on the first S$75,000 of your account balance
- Score higher interest rates when you credit your salary, spend on your credit card, invest, insure, and increase your account balance every month
- Insured up to S$75,000 by SDIC. Additional T&Cs apply.
- Read our full review of the OCBC 360 Account
- Fall-below fee of S$2 if average daily balance falls below S$3,000 (first-year waived)
- Early closure fees of S$30 if account is closed within 6 months.
Eligibility
Minimum Age: 18 years old
OCBC MyOwn Account
Min. Deposit
S$ S$
0Annual Interest Rate
0.05 %Minimum Age
7 years oldMaximum Age
15 years old- For Children:
- Manage your own money with your very own savings account
- Comes with an OCBC MyOwn Debit Card with over 17 designs, including Disney and Marvel card designs
- Comes with OCBC App with special child dashboard to track spending and for QR payments
- Conveniently secure the account with OCBC Kill Switch and Money Lock
- For Parents:
- Keep track of child's spending via a separate parent dashboard
- Set spending limits for your child
- Get notified on your child's transactions instantly
- Schedule regular pocket money transfers easily
- Insured up to S$75,000 by SDIC. Additional T&Cs apply.
- Read our full review of the OCBC 360 Account
- Parents must also have an eligible OCBC Savings or Current Account. If they do not have one, they will be directed to open a 360 Account before applying for an OCBC MyOwn Account for their child.
- Early closure fees of S$30 if account is closed within 6 months.
Eligibility
Minimum Age: 7 years old
Best Savings Accounts in Singapore
|
Product Name |
Minimum deposit |
Max Annual Interest Rate |
|
DBS Multiplier Account
|
S$0 |
3% |
|
BOC SmartSaver
|
S$1,500 |
3% |
|
Maybank Save Up Programme
|
S$500 |
3% |
| OCBC 360 Account | S$1,000 |
2.68% |
|
Standard Chartered Bonus$aver Account
|
S$0 |
7.88% |
Latest Savings Account News
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Frequently Asked Questions
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.
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.
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.
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.
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.
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.
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.
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.
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.
You’ll need to visit a branch and bring proof of your identity such as your NRIC.