Best Online Savings Accounts with High Interest Rates to Park Your Money in Singapore

Looking to earn more on your savings without locking your cash away? These high-interest savings accounts offer great returns and easy access.

With rising inflation and interest rate hikes led by the US Federal Reserve, banks in Singapore have responded by boosting the rates on their savings accounts — giving everyday savers a rare chance to earn more on their idle cash.

Accounts like the Standard Chartered Bonus$aver, UOB One, and OCBC 360 are now offering significantly higher interest, with some going as high as 6.3% p.a. That’s great news if you’re looking to make your money work harder without locking it away.

To help you cut through the noise, we’ve compiled a clear and up-to-date comparison of the best high-interest savings accounts in Singapore right now.

All accounts listed here are protected under the Singapore Deposit Insurance Corporation (SDIC), insuring up to S$100,000 per depositor per Scheme.

» MORE: How the Interest Deposit Scheme works 

UPDATE: The Mari Savings Account now offers up to 1.88% p.a. — with no salary crediting or minimum spend required.

While some accounts advertise higher interest rates, the best savings account for you depends on whether you can consistently meet the conditions required to unlock those rates.

The table below outlines our recommendations based on the maximum interest rate, against what you could realistically expect to save every month. Those who watch their bills or are certain of their salary can try maximising their savings, while others may wish to just park the money and forget about it, in which case using a more flexible account is more suitable.

To find out which is the best savings account for salaried workers, let's say a typical salaried worker:

• Has S$20,000 in savings;
• Credits at least S$2,000 of his/her salary into the savings account each month;
• Spends at least S$500 on a credit/debit card monthly, and;
• Pays at least three bills monthly

From those criteria, here's the interest you'll earn from these high-interest savings accounts:

Take note that these are estimates only, and it is best to consult the bank or financial organisation itself for further details.

If you're drawing a monthly salary, many banks offer bonus interest rates when you credit your salary into your savings account. These accounts are designed to reward everyday banking behaviours such as paying bills, spending on credit cards, and even investing or insuring with the same bank. The more you do with one bank, the more interest you earn.

BOC SmartSaver

The BOC SmartSaver Account offers competitive interest rates, rewarding customers who actively engage in various banking activities. As of May 2025, you can earn up to 6.00% p.a. on the first S$100,000 of your account balance by fulfilling specific criteria. 

To maximise your interest earnings, you can participate in multiple categories: salary crediting, card spending, bill payments, and purchasing eligible insurance products. Each category contributes a specific bonus interest rate, which, when combined, can significantly boost your overall returns.

Hence, the example would qualify for:

• Base Interest: 0.40%
• Salary Crediting Bonus: 2.50%
• Card Spend Bonus: 0.50%
• Payment Bonus: 0.90%

Total Interest Rate: 0.40% + 2.50% + 0.50% + 0.90% = 4.30% p.a.

Annual Interest Earned: S$20,000 × 4.30% = S$860

Account details

• Minimum initial deposit: S$200
• Minimum daily balance: S$1,500 (to earn interest)
• Monthly fall-below fee: S$3 (if balance falls below S$1,500)
• Bonus interest cap: First S$100,000 of account balance

The BOC SmartSaver account offers a competitive interest rate of up to 3.0% p.a. for those who can meet its criteria. By combining salary crediting, credit card spending, and bill payments, account holders can maximise their returns. However, maintaining the minimum balance is crucial to avoid fees and ensure eligibility for bonus interest.

» Learn more

The Citi Interest Booster Account offers a base interest rate of 1.5% p.a. on your savings. You can boost this rate by engaging in various banking activities, such as spending, investing, insuring, borrowing, saving, and even during your birthday month. By fulfilling all criteria, you can achieve a maximum interest rate of 4.0% p.a. 

Hence, the example would qualify for:

• Base Interest: 1.50%
• Spend Bonus: 0.20%
• Save Bonus: 0.20%

Total Interest Rate: 1.50% + 0.20% + 0.20% = 1.90% p.a.

Annual Interest Earned: S$20,000 × 1.90% = S$380

Account details

• Minimum initial deposit: None
• Minimum daily balance: S$15,000 (to avoid fall-below fee)
• Monthly fall-below fee: S$15
• Bonus interest cap: First S$50,000 of account balance

DETAILS

• Min. deposit: S$15,000

• Min. annual interest rate: 1.5% p.a.

• Max. annual interest rate: 4.0% p.a.

Product details

• 1.5% p.a. base interest rate on your savings
• 4.0% p.a. maximum bonus interest by fulfilling specific actions:
  • Increase monthly balance by S$1,500
  • Spend at least S$500 on a Citibank debit or credit card
  • Make 3 investments of S$1,000 or more
  • Purchase insurance with minimum S$5,000 annual premium
  • Take up a home loan of at least S$500,000
  • Earn a birthday month bonus
• Bonus interest applies to the first S$50,000 of your balance
• Monthly fall-below fee: S$15 (if average daily balance < S$15,000)
• Daily interest computation and monthly crediting
• Deposits insured under SDIC up to S$75,000

SingSaver’s take

The Citi Interest Booster Account is ideal for individuals who can maintain a higher balance and are looking to integrate various banking products. With a base interest rate of 1.5% p.a., it already offers a competitive return, which can be further enhanced by engaging in additional banking activities.

» Read full review

The DBS Multiplier Account rewards customers with higher interest rates based on the number of banking categories they engage in, such as salary crediting, credit card spending, home loan repayments, insurance, and investments. The more categories you fulfill, the higher your interest rate, up to a maximum of 4.10% p.a. on the first S$100,000 of your account balance. 

*Categories are: Income, PayLah/Credit card spend, home loan, insurance and investment

Hence, the profile would fulfill 2 categories: Income and credit card spend.

Total Interest Rate: 2.10% p.a.

Annual Interest Earned: S$20,000 × 2.10% = S$420

Account details

• Minimum initial deposit: None
• Minimum daily balance: S$3,000 (to avoid fall-below fee)
• Monthly fall-below fee: S$5
• Bonus interest cap: First S$100,000 of account balance

The DBS Multiplier Account is versatile, catering to a broad range of customers. Its flexibility in recognising various transaction types for bonus interest makes it accessible for many. However, to maximise returns, one must engage in multiple banking activities.

» Read full review

The HSBC Everyday Global Account (EGA) is a multi-currency account that offers promotional interest rates for new funds deposited in June 2025. Customers can earn up to 3.55% p.a. during this period, depending on their wealth holdings with HSBC.

Assuming the profile has made at least 5 eligible spends, you can save:

Total Interest Rate: 0.05% + 2.00% = 2.05% p.a.

Annual Interest Earned: S$20,000 × 2.05% = S$410

Account details

• Minimum initial deposit: None
• Minimum daily balance: None
• Monthly fall-below fee: None
• Bonus interest cap: First S$5 million of account balance

The HSBC Everyday Global Account is tailored for affluent customers, especially those eligible for HSBC Premier. With its multi-currency capabilities and attractive welcome offers, it's suitable for individuals with significant assets and international banking needs.

» Learn more

» Read full review

The Maybank Save Up Account offers customers the opportunity to earn higher interest rates by engaging in various banking activities. By taking up additional products or services with Maybank, you can boost your interest rate up to a maximum of 3.08% p.a.

9 products and services to choose from:

Source: Maybank

Assuming you take up 2 additional products:

Total Interest Rate: 1.17% p.a.

Annual Interest Earned: S$20,000 × 1.17% = S$234

Account details

• Minimum initial deposit: S$500
• Minimum daily balance: S$1,000 (to avoid fall-below fee)
• Monthly fall-below fee: S$2
• Bonus interest cap: First S$50,000 of account balance

The Maybank Save Up Account is suitable for individuals looking to integrate various banking products. By engaging in multiple services, customers can significantly boost their interest rates. However, the need to fulfil multiple criteria might not appeal to everyone.

» Read full review

The OCBC 360 Account offers customers the opportunity to earn higher interest rates by fulfilling specific criteria, such as salary crediting, saving, spending, insuring, and investing. By meeting all five criteria, you can achieve a maximum interest rate of 6.30% p.a. on the first S$100,000 of your account balance. 

Hence, the example profile qualifies for:

• Base Interest: 0.05%
• Salary Credit Bonus: 1.20%
• Save Bonus: 0.50%
• Spend Bonus: 0.60%

Total Interest Rate: 0.05% + 1.20% + 0.50% + 0.60% = 2.35% p.a.

Annual Interest Earned: S$20,000 × 2.35% = S$470

Account details

• Minimum initial deposit: S$1,000
• Minimum daily balance: S$3,000 (to avoid fall-below fee)
• Monthly fall-below fee: S$2
• Bonus interest cap: First S$100,000 of account balance

The OCBC 360 Account is a versatile option for salaried workers aiming to maximise their savings. By crediting your salary and engaging in additional banking activities such as spending on OCBC credit cards, purchasing insurance, or investing, you can unlock higher interest rates. This account is particularly beneficial for those who prefer a structured approach to enhancing their savings.

» Read full review

The Standard Chartered Bonus$aver Account provides a base interest rate of 0.05% p.a. on your entire account balance. You can earn additional bonus interest by meeting criteria such as salary crediting, card spending, insuring, and investing. As of June 2025, the maximum achievable interest rate is 8.05% p.a. on the first S$100,000 of your account balance.

Hence, the example qualifies for:

• Base Interest: 0.05%
• Card Spend Bonus: 1.55% (for card spends of at least S$1,000)

Total Interest Rate: 0.05% + 1.55% = 1.60% p.a.

Annual Interest Earned: S$20,000 × 1.60% = S$320

Note: Salary crediting requires a minimum of S$3,000/month to qualify for the bonus interest.

Account details

• Minimum initial deposit: None
• Minimum daily balance: S$3,000 (to avoid fall-below fee)
• Monthly fall-below fee: S$5
• Bonus interest cap: First S$100,000 of account balance

The Standard Chartered Bonus$aver Account offers an attractive interest rate for salaried workers who can meet its criteria. By crediting your salary, spending on the Bonus$aver credit card, and engaging in investment or insurance products, you can significantly boost your interest earnings. This account is ideal for those who are already integrated into Standard Chartered's ecosystem.

» Read full review

The UOB One Account remains a competitive high-interest savings option in 2025, offering up to 3.30% p.a. on balances up to S$150,000. To maximise returns, account holders need to:

• Spend a minimum of S$500 monthly on eligible UOB credit or debit cards.
• Either credit a salary of at least S$1,600 via GIRO/PAYNOW (with transaction reference “SALA” / “PAYNOW SALA”) or make 3 GIRO debit transactions monthly.

These straightforward criteria make it accessible for many savers seeking higher yields without complex requirements.

However, it's important to note that as of 1 May 2025, UOB revised the interest rates to align with long-term interest rate expectations. The maximum effective interest rate was adjusted to 3.30% p.a., down from the previous 4.00% p.a. Despite this reduction, the UOB One Account still offers attractive returns compared to many other savings options in the market.

The profile would qualify for:

• Base Interest: 0.05%
• Card Spend Bonus: 0.60%
• Salary Credit Bonus: 2.65%

Total Interest Rate: 0.05% + 0.60% + 2.65% = 3.30% p.a.

Annual Interest Earned: S$20,000 × 3.30% = S$660

Account details

• Minimum initial deposit: S$1,000
• Minimum daily balance: S$1,000 (to avoid fall-below fee)
• Monthly fall-below fee: S$5
• Bonus interest cap: First S$150,000 of account balance

*The interest rates and criteria are based on information in 2025. For the most accurate and up-to-date details, please refer to the respective banks’ official websites or contact their customer service.

The UOB One Account is tailored for salaried workers seeking a straightforward path to higher interest rates. By simply crediting your salary and spending on a UOB card, you can unlock competitive interest rates. This account is suitable for individuals who prefer simplicity without compromising on returns.

» Read full review

Not everyone draws a fixed monthly salary. Examples include students, gig workers, retirees, or freelancers. If that’s you, don’t worry. There are still savings accounts that offer decent interest without the need to credit your salary. Some of these accounts offer base interest with no hoops to jump through, while others reward regular saving habits or simply keeping your funds parked.

The Mari Savings Account offers a straightforward savings solution with an interest rate of 1.88% p.a. on your entire balance, without requiring salary crediting, minimum spending, or maintaining a minimum balance. Interest is credited daily, providing consistent growth on your savings. 

Based on this, the example profile earns a straightforward S$20,000 × 1.88% = S$376

Account details

• Minimum initial deposit: None
• Minimum daily balance: None
• Monthly fall-below fee: None
• Bonus interest cap: No cap specified

DETAILS

• Min. deposit: S$0

• Min. annual interest rate: 1.88% p.a.

• Max. annual interest rate: 1.88% p.a.

Product details

• No minimum deposit required to open the account
• Flat 1.88% p.a. interest on your entire balance (up to S$100,000)
• No salary crediting, card spend, or other conditions required
• Interest is calculated daily and credited monthly
• No fall-below fees or monthly fees
• Digital-only account offered via MariBank app
• Maximum account balance cap: S$100,000
• Deposits insured under SDIC up to S$75,000

SingSaver’s take

The Mari Savings Account offers a straightforward savings solution with a flat interest rate of 1.88% p.a., requiring no minimum deposit, salary crediting, or spending. It's ideal for individuals seeking a hassle-free account to grow their savings.

» Read full review

The CIMB FastSaver account provides tiered interest rates starting from 1.19% p.a. for balances up to S$25,000. Additional interest of up to 3.19% p.a. interest rate can be earned, subject to salary crediting or spending on a CIMB Visa Signature Credit Card.

To earn the additional interest on the first S$25,000 of your CIMB FastSaver Account balance, you may:

• Credit your salary or set up scheduled recurring transfers (Standing Instructions via GIRO) of minimum S$1,000 into your CIMB FastSaver Account to earn additional interest rate of 0.50%^ p.a. 

• Spend on your CIMB Visa Signature Credit Card and earn 1.00%^^ p.a. for each calendar month where minimum eligible spend of S$300 is posted for the corresponding statement month, or 1.50%^^ p.a. for each calendar month where minimum eligible spend of S$800 is posted for the corresponding statement month

Based on that, the example earns S$20,000 × 2.69% = S$498

Account details

• Minimum initial deposit: None
• Minimum daily balance: None
• Monthly fall-below fee: None
• Bonus interest cap: Applies to first S$25,000

CIMB FastSaver is a no-frills online savings account offering competitive interest rates without the need for salary crediting or spending. It's suitable for individuals who prefer simplicity and flexibility in managing their savings.

» Read full review

The DBS Multiplier Account is designed to reward customers who engage with multiple DBS/POSB banking products. It offers a base interest rate of 0.05% p.a., which can increase up to 4.10% p.a. when you credit your income and transact in up to three additional categories such as credit card spending, home loan repayments, insurance, or investments.

Notably, there is no minimum salary credit requirement, and the account is accessible to a wide range of customers, including students and retirees. However, to avoid a fall-below fee, you need to maintain a minimum average daily balance of S$3,000.

The DBS Multiplier Account is suitable for individuals who actively use multiple DBS/POSB banking products and can meet the transaction criteria to maximise their interest earnings.

Given the profile, and assuming total eligible transactions per month are between S$500 and S$15,000, and it meets 2 categories (income crediting and card spend), qualifying for interest of 2.10% p.a.

• Annual Interest Earned: S$20,000 × 2.10% = S$420

Account details

• Minimum initial deposit: S$0
• Minimum daily balance: S$3,000
• Monthly fall-below fee: S$5 (waived if you're below 29 years old or if this is your first DBS/POSB account)
• Bonus interest cap: First S$100,000 of account balance

The DBS Multiplier Account rewards customers with higher interest rates when they transact in multiple categories, such as credit card spending, home loan repayments, insurance, or investments. It's ideal for individuals who have multiple banking relationships with DBS.

» Read full review

The GXS Savings Account offers a base interest rate of 1.68% p.a., with the opportunity to earn up to 2.08% p.a. by utilising Boost Pockets with a 3-month tenure.

With a balance of S$20,000 in a Boost Pocket, the example profile earns S$20,000 × 2.08% = S$416

Account details

• Minimum initial deposit: None
• Minimum daily balance: None
• Monthly fall-below fee: None
• Bonus interest cap: Up to S$95,000 across all pockets

DETAILS

• Min. deposit: S$0
• Min. annual interest rate: 1.68% p.a.
• Max. annual interest rate: 2.08% p.a.

Product details

• Base Interest Rates:

• Main Account: 1.68% p.a.

• Saving Pockets: 1.98% p.a.

• Boost Pocket:

• Base: 1.68% p.a.

• Bonus: +0.40% p.a. for 1-month tenure, +0.40% p.a. for 3-month tenure

• Total up to 2.08% p.a.

SingSaver’s take

GXS Savings Account offers a base interest rate of 1.68% p.a., with the opportunity to earn up to 2.08% p.a. by utilising Boost Pockets. It's suitable for individuals looking for flexible savings options without stringent requirements.

» Read full review

The RHB High Yield Savings Plus account offers tiered interest rates, starting at 1.20% p.a. for the first S$50,000. No salary crediting or spending is required to earn these rates.

Based on this, the profile earns S$20,000 × 1.20% = S$240

Account details

• Minimum initial deposit: S$500
• Minimum daily balance: S$500
• Monthly fall-below fee: S$2
• Bonus interest cap: Applies to first S$100,000

   

DETAILS

• Min. deposit: S$0
• Min. annual interest rate: 0.30% p.a.
• Max. annual interest rate: 1.50% p.a.

Product details

• Interest Rates:
• • First S$50,000: 1.20% p.a.
  • Next S$25,000: 1.30% p.a.
  • Next S$25,000: 1.40% p.a.
  • Above S$100,000: 1.50% p.a.
• Minimum initial deposit: S$1,000
• Minimum daily balance: S$0
• Monthly fall-below fee: None
• Bonus interest cap: Applies to balances above S$100,000
• SDIC Insurance: Deposits insured up to S$75,000

SingSaver’s take

RHB High Yield Savings Plus Account offers tiered interest rates, rewarding higher balances with better rates. It's ideal for individuals who can maintain larger balances without the need for salary crediting.

The SIF GoSavers Account provides up to 3.50% p.a. interest without requiring salary crediting or spending.

As the profile qualifies for the “First S$100,000” tier, interest earned is S$20,000 × 2.28% = S$456

Account details

• Minimum initial deposit: S$500
• Minimum daily balance: S$500
• Monthly fall-below fee: S$2
• Bonus interest cap: Applies to first S$500,000

   

DETAILS

• Min. deposit: S$0
• Min. annual interest rate: 2.38% p.a.
• Max. annual interest rate: 2.38% p.a.

Product details

• Interest Rates:
  • First S$100,000: 2.28% p.a.
  • Next S$150,000: 1.80% p.a.
  • Next S$150,000: 1.85% p.a.
  • Next S$100,000: 1.90% p.a.
  • Above S$500,000: 1.80% p.a.
• Minimum initial deposit: S$0
• Minimum daily balance: S$0
• Monthly fall-below fee: None
• Bonus interest cap: Applies to balances up to S$500,000
• SDIC Insurance: Deposits insured up to S$75,000

SingSaver’s take

The SIF GoSavers Account offers a flat interest rate of 2.38% p.a. on balances up to S$100,000, without the need for salary crediting or spending. It's suitable for individuals seeking a straightforward savings account with competitive interest.

» Read full review

The Standard Chartered Bonus$aver account offers a base interest rate of 2.00% p.a. on balances up to S$50,000, without requiring salary crediting or spending.

Hence, annual interest for the profile is S$20,000 × 2.00% = S$400

Account details

• Minimum initial deposit: None
• Minimum daily balance: None
• Monthly fall-below fee: None
• Bonus interest cap: Applies to first S$50,000

The Standard Chartered Bonus$aver Account offers one of the highest potential interest rates in Singapore, reaching up to 8.05% p.a. on the first S$100,000 of your balance. By fulfilling various criteria such as salary crediting, card spending, bill payments, and engaging in investment or insurance products, account holders can maximise their returns. This account is particularly suitable for individuals who have multiple banking relationships with Standard Chartered and can meet the necessary requirements.

» Read full review

The Trust Savings Account offers up to 2.25% p.a. interest on balances up to S$800,000, with additional benefits for NTUC Union members. 

Assuming NTUC Union membership, spending ≥ S$500 monthly and salary credit of at least S$1,500:

• Annual Interest Earned: S$20,000 × 1.50% = S$300

Account details

• Minimum initial deposit: None
• Minimum daily balance: None
• Monthly fall-below fee: None
• Bonus interest cap: Applies to first S$800,000

   

DETAILS

• Min. deposit: S$0
• Min. annual interest rate: 0.50% p.a.
• Max. annual interest rate: 2.25% p.a.

Product details

• 0.50% p.a. base interest rate
• Bonus rates:
  • +0.50% p.a. for NTUC Union Members (others: +0.30% p.a.)
  • +0.50% p.a. for crediting salary of at least S$1,500 via GIRO
  • +0.75% p.a. for maintaining a minimum average daily balance of S$100,000
• Total up to 2.25% p.a. on balances up to S$800,000
• Minimum initial deposit: S$0
• Minimum daily balance: S$0
• Monthly fall-below fee: None
• Bonus interest cap: Applies to balances up to S$800,000
• SDIC Insurance: Deposits insured up to S$75,000

SingSaver’s take

The Trust Savings Account offers a base interest rate of 0.50% p.a., with opportunities to earn up to 2.25% p.a. by meeting certain criteria such as maintaining a minimum balance, spending on the Trust card, or crediting your salary. It's ideal for individuals who shop frequently at FairPrice Group outlets. 

The UOB Stash Account offers a straightforward savings solution with an effective interest rate of up to 3.00% p.a. on balances up to S$100,000, without the need for salary crediting or card spending. To qualify for the bonus interest, simply maintain or increase your Monthly Average Balance (MAB) compared to the previous month.

The UOB Stash Account is suitable for individuals who prefer a simple savings account without the need to meet multiple criteria. By maintaining or increasing your balance monthly, you can enjoy higher interest rates on your savings.

Assuming the profile maintains or increases the MAB each month, interest p.a. is:

• First S$10,000 at 0.05%: S$10,000 × 0.05% = S$5

• Next S$10,000 at 1.51%: S$10,000 × 1.51% = S$151

• Total Annual Interest Earned: S$5 + S$151 = S$156

Account details

• Minimum initial deposit: S$1,000

• Minimum daily balance: S$1,000

• Monthly fall-below fee: S$2 (waived for the first six months for accounts opened online)

• Bonus interest cap: Applies to first S$100,000 of account balance

The UOB Stash Account is designed for individuals who prefer a straightforward savings approach. By maintaining or increasing your Monthly Average Balance (MAB), you can earn bonus interest on top of the base rate. This account is suitable for those who can consistently grow their savings without the need for salary crediting or spending requirements.

» Read full review

Student savings accounts are a great stepping stone towards financial independence. Whether you're managing your allowance, saving part-time income, or building up funds for school expenses, these accounts offer low fees, low minimum balances, and easy online access.

Most student accounts come with zero monthly fall-below fees, debit card access, and basic interest — perfect for young savers learning to budget. Some even offer savings goals features or mobile apps with gamified money tracking to encourage better financial habits.

The OCBC FRANK Account is designed for youths aged 16 to 26, offering a straightforward savings solution with no initial deposit or minimum balance requirements. It provides an interest rate of up to 0.20% p.a. on balances between S$25,001 and S$50,000, making it suitable for students and young adults starting their financial journey. 

While the interest rates are modest, the account's simplicity and lack of fees make it an attractive option for those new to banking. Additionally, account holders can personalise their FRANK Debit Card with over 60 designs, adding a touch of individuality to their banking experience.

For the profile, it would be a straightforward:

• Annual Interest Earned: S$20,000 × 0.10% = S$20

Account details

• Minimum initial deposit: S$0

• Minimum daily balance: S$0

• Monthly fall-below fee: S$0 (for youths below 26 years old)

• Bonus interest cap: Applies to balances up to S$50,000

The OCBC Student Account, also known as the FRANK Account, is tailored for students and young adults. With no initial deposit or fall-below fees for individuals below 26 years old, it's an excellent starter account. The account offers up to 4x higher interest compared to regular savings accounts, making it ideal for students looking to grow their savings.

» Read full review

The Standard Chartered JumpStart Account caters to young adults aged 18 to 26, offering a competitive interest rate of 2.00% p.a. on balances up to S$50,000. This account stands out by not requiring salary crediting, minimum deposits, or monthly fees, making it an excellent choice for students and early-career individuals.

Additionally, account holders can earn an extra 0.50% p.a. interest on balances up to S$50,000 when they invest through Standard Chartered's platforms. The account also offers 1% cashback on eligible debit card spends, enhancing its appeal to young savers.

The profile earns:

• Annual Interest Earned: S$20,000 × 2.00% = S$400

Account details

• Minimum initial deposit: S$0
• Minimum daily balance: S$0
• Monthly fall-below fee: S$0
• Bonus interest cap: Applies to first S$50,000

   

DETAILS

• Min. deposit: S$0
• Min. annual interest rate: 0.10% p.a.
• Max. annual interest rate: 2.00% p.a.

Product details

• You can open this account if you're between 18 and 26 years old.

• There is no minimum initial deposit required to open the account.

• No minimum average daily balance.

• No monthly account or fall-below fees.

• The account offers a base interest rate of 2.00% p.a. on balances up to S$50,000.

• If you invest with Standard Chartered, you can earn an additional 0.50% p.a., bringing your total to 2.50% p.a.

• Any balance above S$50,000 earns a lower rate of 0.10% p.a.

• Interest is calculated daily and credited monthly.

• You’ll earn 1% cashback on eligible Mastercard debit card spends, capped at S$60 per month.

• You can manage your account through Standard Chartered’s online and mobile banking platforms.

• Your deposits are insured up to S$75,000 by the Singapore Deposit Insurance Corporation (SDIC).

SingSaver’s take

The Standard Chartered JumpStart Account is a high-interest savings account for individuals aged 18 to 26. With no minimum deposit or fall-below fees, and a competitive interest rate on the first S$50,000, it's an excellent choice for students starting their financial journey.

Showing its strength as a flexible savings account for all needs, the DBS Multiplier is also a good choice for students looking to pocket their pocket money. Its strength lies in allowing account holders to earn higher interest rates by transacting in multiple categories such as salary crediting, credit card spending, home loan repayments, insurance, or investments. The base interest rate is 0.05% p.a., but it can increase up to 4.10% p.a. depending on the number and type of transactions. 

Notably, there's no minimum salary credit requirement, making it accessible to a wide range of customers, including students and retirees. However, to avoid a fall-below fee, maintaining a minimum average daily balance of S$3,000 is necessary.

• Annual Interest Earned: S$20,000 × 2.10% = S$420

Account details

• Minimum initial deposit: S$0
• Minimum daily balance: S$3,000
• Monthly fall-below fee: S$5 (waived if you're below 29 years old or if this is your first DBS/POSB account)
• Bonus interest cap: Applies to the first S$100,000 of account balance

DBS provides students with a straightforward savings solution, offering bonus interest when linked with the DBS Multiplier Account and used in conjunction with services like PayLah!. It's ideal for students seeking a simple account with the potential for higher interest through active usage.

» Read full review

Read reviews of the various savings accounts in Singapore and what each account has to offer to find the best product for your needs: 

• Read the OCBC 360 Savings Account Review
• Read the UOB One Account Review
• Read the DBS Multiplier Account Review
• Read the Maybank Save Up Programme Review
• Read the CIMB FastSaver Savings Account Review
• Read the CIMB StarSaver Savings Account Review
• Read the Standard Chartered Bonus$aver Review
• Read the OCBC FRANK Savings Account Review
• Read the HSBC Everyday Global Account Review