Best Savings Accounts Singapore 2025
Find the highest interest savings accounts in Singapore offering up to 7.5% p.a.Compare rates, requirements, and benefits from DBS, OCBC, UOB, Trust Bank, and more. All accounts featured are SDIC-insured up to S$100,000 per depositor.
Top High-Interest Savings Accounts Comparison
Compare the best savings accounts in Singapore with detailed rates, requirements, and benefits. Updated daily with the latest promotional rates and terms.
Trust Savings Account
Rate Structure
Requirements
Pros
- •No minimum balance requirement
- •Simple digital-first banking
- •Easy qualification criteria
- •No monthly fees
Cons
- •Relatively new bank
- •Limited physical presence
- •Lower maximum rate vs traditional banks
DBS Multiplier Account
Rate Structure
Requirements
Pros
- •Highest rates among Big 3 banks
- •Multiple bonus categories
- •Established bank with wide network
- •Comprehensive banking ecosystem
Cons
- •Complex qualification requirements
- •Monthly fee if balance falls below S$1,000
- •Limited qualifying balance cap
OCBC 360 Account
Rate Structure
Requirements
Pros
- •Lower monthly fee than DBS
- •Flexible bonus categories
- •Strong digital banking platform
- •Good customer service
Cons
- •Lower maximum rate than DBS
- •Complex bonus category system
- •Minimum balance requirement
UOB One Account
Rate Structure
Requirements
Pros
- •Lower qualifying balance requirement
- •Straightforward criteria
- •Good rewards ecosystem
- •Strong mobile banking app
Cons
- •Lowest maximum rate among Big 3
- •Mandatory credit card spending
- •Lower qualifying balance cap
Bonus$aver Account
Rate Structure
Requirements
Pros
- •Competitive rates for qualifying balances
- •Good for premium banking
- •Strong investment platform
- •International banking network
Cons
- •High spending requirements
- •Lower qualifying balance cap
- •Complex criteria structure
SaveUp Account
Rate Structure
Requirements
Pros
- •Lower minimum balance
- •Islamic banking options
- •Good for Malaysian connections
- •Reasonable qualifying criteria
Cons
- •Lower maximum rates
- •Smaller branch network
- •Investment requirements for top tier
Types of Savings Accounts in Singapore
Understanding different savings account types helps you choose the right fit for your financial goals and banking habits.
High-Yield Savings
Accounts offering premium interest rates with specific requirements
Key Features:
- Up to 7.5% p.a.
- Conditional requirements
- Higher minimum balances
Examples:
Basic Savings
Standard savings accounts with low requirements and modest returns
Key Features:
- 0.05% - 0.125% p.a.
- No conditions
- Low minimum balance
Examples:
Digital Savings
App-based accounts from digital banks with competitive rates
Key Features:
- Up to 1.5% p.a.
- Digital-first
- Simple requirements
Examples:
Premium Savings
Accounts for high-net-worth individuals with exclusive benefits
Key Features:
- Relationship-based rates
- Premium services
- High minimums
Examples:
Related Savings Guides
How to Maximize Your Savings Returns
Proven strategies to earn the highest possible interest rates on your savings accounts in Singapore.
Meet All Bonus Criteria
Ensure you satisfy all requirements like salary crediting, spending targets, and investment minimums to unlock the highest rates.
Action Steps:
- Set up salary GIRO
- Use bank's credit card for spending
- Maintain minimum investment amounts
- Pay bills via bank's payment services
Optimize Your Balance Distribution
Distribute funds across multiple accounts to maximize qualifying balances and avoid diminishing returns.
Action Steps:
- Split funds between 2-3 high-yield accounts
- Keep emergency fund in basic savings
- Use fixed deposits for excess funds
- Monitor qualifying balance caps
Regular Monitoring and Adjustment
Review your accounts monthly to ensure you're meeting criteria and getting maximum returns.
Action Steps:
- Check monthly statements
- Adjust spending to meet targets
- Rebalance funds quarterly
- Update direct debits and payments
Leverage Bank Ecosystems
Use multiple products from the same bank to unlock higher rates and additional benefits.
Action Steps:
- Get bank's credit card
- Use investment products
- Take insurance policies
- Apply for home loans when needed
What to Consider When Choosing a Savings Account
Key factors to evaluate when comparing savings accounts to ensure you choose the best option for your needs.
Interest Rates
The primary factor determining your returns
Key Considerations:
- Base rate vs conditional rate
- Qualifying balance caps
- Tier structure and requirements
- Rate changes and promotions
Requirements
Conditions needed to earn promotional rates
Key Considerations:
- Salary crediting requirements
- Minimum spending amounts
- Investment or insurance obligations
- Complexity of maintaining criteria
Fees and Charges
Monthly fees and transaction charges
Key Considerations:
- Monthly account maintenance fees
- Minimum balance penalties
- Transaction fees and limits
- Fee waiver conditions
Banking Convenience
Accessibility and ease of banking
Key Considerations:
- ATM network coverage
- Branch availability
- Mobile banking features
- Customer service quality
Additional Benefits
Extra perks and services
Key Considerations:
- Insurance coverage
- Investment platforms
- Reward programs
- Premium banking privileges
Common Savings Account Mistakes to Avoid
Learn from these common pitfalls that can significantly reduce your savings returns.
Not Meeting All Criteria
Missing one requirement can drop your rate from 3.5% to 0.05%
Solution:
Set up automated reminders and direct debits to ensure all criteria are met monthly
Ignoring Qualifying Balance Caps
Excess funds above caps earn only base rates
Solution:
Spread funds across multiple accounts or use fixed deposits for excess amounts
Focusing Only on Maximum Rates
High rates with complex requirements may not be worth the effort
Solution:
Calculate actual returns after considering effort and opportunity costs
Not Reviewing Terms Regularly
Banks change terms, rates, and requirements periodically
Solution:
Review account terms quarterly and compare with market alternatives
Related Banking Products
Explore other financial products and comparisons that might interest you
Fixed Deposit Rates
Compare guaranteed returns up to 3.8% p.a. from major Singapore banks
Home Loan Rates
SORA and fixed rate mortgages from 3.85% p.a. for property purchases
Personal Loan Rates
Flexible personal financing from 3.88% EIR with quick approval
Credit Cards Comparison
Miles, cashback and rewards cards with welcome bonuses and benefits
Compare All Rates
Comprehensive comparison of all banking products and rates
Banking Calculators
Calculate loan payments, fixed deposit returns, and savings projections
Ready to Maximize Your Savings?
Compare savings accounts, calculate potential returns, and find the perfect account for your financial goals.