Best Online Savings Accounts with High Interest Rates to Park Your Money in Singapore
Updated: 20 Nov 2025
Written bySingSaver Team
Team
The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.
Looking to earn more on your savings without locking your cash away? These high-interest savings accounts offer great returns and easy access.
SingSaver x Citigold Exclusive Offer
Get an Apple iPhone 17 512GB, a Dyson Airwrap™ + Dyson Supersonic™ bundle, or up to S$1,200 cash via PayNow when you successfully apply for a Citigold account, become an Accredited Investor, and make a S$300,000 deposit within 3 months of account opening, maintaining these funds until gift fulfilment. Valid till 30 November 2025. T&Cs apply.
With rising inflation and interest rate hikes led by the US Federal Reserve, banks in Singapore have responded by boosting the rates on their savings accounts — giving everyday savers a rare chance to earn more on their idle cash.
Accounts like the Standard Chartered Bonus$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.
BOC SmartSaver
BOC SmartSaver
- Earn up to 3.00% p.a. on the first S$80,000 of your account balance
- Spend on your BOC credit card: Earn up to 0.5% bonus interest
Salary credit: Earn up to 0.5% bonus interest
Make at least 3 bill payments: Earn 0.3% bonus interest - Earn up to 0.60% p.a. for account balance between S$80,001 and S$1,000,000
- Insured up to S$75,000 by SDIC. Additional T&Cs apply.
- Fall-below fee of S$3 and loss of bonus interest rates if average daily balance falls below S$1,500
SingSaver’s take
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.
Pros
High maximum interest rate of 4.8% p.a.
Multiple avenues to earn bonus interest
Reasonable minimum deposit requirement
Cons
Requires meeting multiple criteria to achieve maximum interest
Monthly fall-below fee if balance drops below S$200
Bonus interest is capped at S$100,000
HSBC Everyday Global Account (EGA)
HSBC Everyday Global Account
- Receive up to S$600 in cashback and bonus interest every month through the HSBC Everyday+ rewards programme
- Bonus cashback and interest granted by spending on HSBC debit/credit cards, making GIRO bill payments, 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
The above information is provided by SingSaver.com.sg for information purposes only. In case of any discrepancy between the information provided by SingSaver.com.sg and relevant information provided by banks, card issuers or card providers (*partner institutions), the information provided by the partner institutions shall prevail. For more information, please refer to our Terms & Conditions and Privacy Policy page.
SingSaver’s take
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.
Pros
Attractive welcome offers and cash rewards
Multi-currency account suitable for global transactions
No initial deposit required
Cons
High asset requirements for maximum benefits
Monthly fall-below fee if balance drops below S$2,000
Promotional rates and rewards may be time-limited
Best savings accounts in Singapore overview: Which account has the highest interest rate in Singapore?
While some accounts advertise higher interest rates, the best savings account for you depends on whether you can consistently meet the conditions required to unlock those rates.
The table below outlines our recommendations based on the maximum interest rate, against what you could realistically expect to save every month. Those who watch their bills or are certain of their salary can try maximising their savings, while others may wish to just park the money and forget about it, in which case using a more flexible account is more suitable.To find out which is the best savings account for salaried workers, let's say a typical salaried worker:
|
Savings account |
Maximum interest rate (p.a.) |
Realistic interest rate (p.a.) |
|
Standard Chartered Bonus$aver |
8.05% |
1.50% – 3.05% (with salary credit and card spend) |
|
OCBC 360 |
5.45% |
2.05% (with salary credit, bill payments, and other criteria) |
|
BOC SmartSaver |
4.60% |
1.3% – 1.6% (with salary credit, card spend, and bill payments) |
|
UOB One Account |
4.50% |
1.50% – 3.00% (with salary credit and card spend) |
|
UOB Stash |
3.00% |
1.60% – 3.00% (with consistent balance growth) |
|
HSBC Everyday Global Account |
5.00% |
2.00% |
|
DBS Multiplier |
4.10% |
2.10% (with salary credit and two other transaction categories) |
|
CIMB FastSaver |
2.50% |
1.08% (without salary credit and card spend) |
|
Maybank Save Up |
4.00% |
1.25% (with two linked products) |
|
SIF GoSavers Account |
1.30% |
1.30% (on first S$100,000) |
|
Trust Savings Account |
2.50% |
1.30% (with salary credit and card spend) |
|
GXS Savings Account |
1.38% |
1.38% (with Boost Pocket) |
|
Standard Chartered JumpStart |
2.00% |
2.00% (on first S$50,000) |
|
RHB High Yield Savings Plus |
1.50% |
1.20% (on first S$50,000) |
|
Mari Savings Account |
1.28% |
1.28% (flat rate) |
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$500 on a credit/debit card monthly, and;
- Pays at least three bills monthly
From those criteria, here's the interest you'll earn from these high-interest savings accounts:
|
Savings account |
Interest rate (p.a.) |
Annual interest earned (S$) |
|
OCBC 360 Account |
2.05% |
410.00 |
|
UOB One Account |
1.50% |
300.00 |
|
BOC SmartSaver |
0.20% |
40.00 |
|
HSBC Everyday Global Account |
1.55% |
310.00 |
|
DBS Multiplier |
1.80% |
360.00 |
|
CIMB FastSaver |
2.00% |
400.00 |
|
Maybank Save Up |
0.55% |
110.00 |
|
SIF GoSavers Account |
1.30% |
260.00 |
|
Trust Savings Account |
0.90% |
180.00 |
|
GXS Savings Account |
1.38% |
276.00 |
|
Standard Chartered JumpStart |
2.00% |
400.00 |
|
RHB High Yield Savings Plus |
2.00% |
400.00 |
|
Mari Savings Account |
1.28% |
256.00 |
Take note that these are estimates only, and it is best to consult the bank or financial organisation itself for further details.
Best savings accounts for salaried workers
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 4.80% 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.
|
Criteria |
Interest Rate (p.a.) |
|
Base Interest |
0.10% |
|
Salary Crediting (≥ S$3,000/month) |
0.50% |
|
Card Spend (≥ S$2,500/month) |
0.90% |
|
Payment Bonus (≥ 3 bill payments/month) |
0.10% |
|
Wealth Bonus (Eligible insurance) |
3.00% |
|
Extra Savings Interest |
0.50% |
|
Total Maximum Interest |
4.80% |
Hence, the example would qualify for:
-
Base Interest: 0.10%
-
Payment Bonus: 0.10%
Total interest rate: 0.10% + 0.10% = 0.20% p.a.
Annual interest earned: S$20,000 × 0.20% = S$40
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$200)
-
Bonus interest cap: First S$100,000 of account balance
Best savings accounts for non-salary holders
Not everyone receives a monthly salary in Singapore — and that’s perfectly fine. Whether you’re self-employed, a freelancer, retired, or between jobs, there are still savings accounts that let you earn steady interest without needing to credit a salary or spend on a linked card.
These accounts are ideal if you want flexibility and predictable returns without worrying about meeting multiple conditions every month. For instance, the UOB Stash Account remains a solid option for those maintaining higher balances, offering a realistic return of around 1.60% p.a. as long as you keep your balance consistent. Meanwhile, digital-first banks like MariBank and GXS make saving effortless with straightforward, no-frills setups and flat rates of around 1.28% to 1.38% p.a.
If you prefer more traditional institutions, accounts like RHB High Yield Savings Plus and SIF GoSavers also provide accessible options with stable rates on the first S$50,000 to S$100,000. These accounts may not hit the highest bonus tiers, but they’re reliable, fuss-free choices for those who value control, liquidity, and ease of use.
|
Savings account |
Realistic interest rate (p.a.) |
|
Mari Savings Account |
1.28% |
|
CIMB FastSaver Account |
1.08% |
|
GXS Savings Account |
1.38% |
|
RHB High Yield Savings Plus Account |
1.20% (on first S$50,000) |
|
SIF GoSavers Account |
1.30% (on first S$100,000) |
|
Standard Chartered Bonus$aver Account |
1.00% |
|
UOB Stash |
1.60% (as long as you maintain your MAB) |
If you prefer a hands-off approach, these accounts let your savings grow quietly in the background.
-
For larger balances: UOB Stash rewards consistency with higher returns when you maintain your balance.
-
For digital-first convenience: GXS and MariBank offer simple, app-based saving experiences with no hidden fees.
-
For stability: SIF GoSavers and RHB High Yield Savings Plus provide predictable interest on the first S$50,000–S$100,000 of your funds.
They might not match the highest bonus rates offered by salary-based accounts, but they’re dependable, low-effort options for savers who value flexibility and control.
Minimum Balances for Savings Accounts
|
Savings account |
Minimum balance |
Fall below fee |
|
Standard Chartered Bonus$aver |
S$3,000 |
S$5 |
|
OCBC 360 |
S$3,000 |
S$2 |
|
BOC SmartSaver |
S$200 |
S$3 |
|
UOB One Account |
S$1,000 |
S$5 |
|
UOB Stash |
S$1,000 |
S$2 (waived for the first six months for accounts opened online) |
|
HSBC Everyday Global Account |
S$2,000 |
S$5 |
|
DBS Multiplier |
S$3,000 |
S$5 (waived if you're below 29 years old or if this is your first DBS/POSB account) |
|
CIMB FastSaver |
None |
None |
|
Maybank Save Up |
S$1,000 |
S$2 |
|
SIF GoSavers Account |
None |
None |
|
Trust Savings Account |
None |
None |
|
GXS Savings Account |
None |
None |
|
Standard Chartered JumpStart |
None |
None |
|
RHB High Yield Savings Plus |
S$500 |
S$2 |
|
Mari Savings Account |
None |
None |
SingSaver’s recommendation
With so many banks offering different interest tiers, bonus categories, and promo periods, finding the best savings account in Singapore really depends on your own habits and goals.
If you prefer something simple and fuss-free, the CIMB FastSaver Account is a great choice. It offers around 1.08% p.a. without requiring salary credit or card spend — ideal for anyone who wants a clean, no-strings setup.
If you’re a salaried worker who can meet the basic criteria each month, accounts like UOB One or Standard Chartered Bonus$aver can realistically yield between 1.5% and 3% p.a., rewarding you for everyday spending and bill payments.
For those with larger balances, the UOB Stash Account stands out. It offers stable returns of around 1.6% p.a. as long as you maintain your balance, making it suitable for parking bigger savings.
And if you value convenience and flexibility, digital banks like MariBank and GXS are worth considering. They provide straightforward, app-based experiences with flat interest rates of around 1.28% to 1.38% p.a., and no hoops to jump through.
Ultimately, the “best” savings account isn’t the one with the flashiest headline rate, it’s the one that complements your income type, lifestyle, and how hands-on you want to be with your finances.
Reviews of best high interest savings accounts in Singapore
Read reviews of the various savings accounts in Singapore and what each account has to offer to find the best product for your needs:
Frequently asked questions about about best savings accounts in Singapore 2025
- Standard Chartered JumpStart: Up to 2.00% p.a. on the first S$50,000; no fall-below fee.
- GXS Savings Account: Around 1.38% p.a., fully digital, and simple to manage.
- CIMB FastSaver: About 1.08% p.a., with no minimum deposit or salary requirement.
-
OCBC Mighty Savers®: Bonus interest for regular deposits; no fall-below fee for kids under 16.
-
POSB My Account: No minimum deposit, grows with your child through youth to adulthood.
-
UOB Junior Savers: Easy transfers from a parent’s UOB account; encourages early saving habits.
It’s advisable to keep three to six months’ worth of expenses in your savings account for emergencies. This ensures quick access to cash when needed without tapping into investments.
Depending on the account, you could earn between $5 to $60 a year on $1,000, assuming interest rates range from 0.5% to 6% p.a. Choose a high-interest account to maximise your earnings.
You can split your savings. Keep a portion in a high-interest savings account for liquidity, and consider investing the rest in low-risk instruments like fixed deposits, T-bills, or robo-advisors for better returns.
Yes, through compound interest. While it won’t make you rich, parking your money in a high-yield account can generate passive income over time, especially when paired with consistent saving habits.
Compare interest rates, minimum balance requirements, fees, and bonus criteria. Choose one that aligns with your income type, banking habits, and whether you prefer fuss-free or reward-based accounts.
Compare interest rates, minimum balance requirements, fees, and bonus criteria. Choose one that aligns with your income type, banking habits, and whether you prefer fuss-free or reward-based accounts.
It typically takes 15 minutes to open an online savings account using MyInfo via Singpass. Some banks may require additional verification or document uploads.
It refers to the interest earned only on the portion of your balance that falls within a certain tier. For example, 0.5% on the first $10,000, and 2% on the next $20,000 — not a flat rate across your full balance.
A savings account earns interest and is used to store money, while a current account is typically used for transactions, with features like cheque books and linked overdraft facilities, but usually no interest.
Students should go for no-fee, easy-access accounts that don’t need salary crediting. Good options include:
Parents can open child or joint accounts with no minimum balance and simple saving tools. Popular picks include:
Relevant articles
Latest reads on banking
Stay up to date with the latest insights on saving smarter, comparing high-interest accounts, and finding ways to grow your money faster — all designed to help Singaporeans make confident, well-informed financial decisions.
About the author
SingSaver Team
At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.