The year 2025 has been a hectic period for those who save money.
- On 1 May, both UOB One and OCBC 360reduced their interest rates, both falling to 3.30% per annum if you deposit your salary and make purchases with the card.
- Only a month later, on1 Jun 2025, Standard Charteredgave people a surprise by polishing its Bonus Saver account, increasing the maximum interest rate from 6.05% per annum to an impressive8.05% p.a.if you meet all the requirements.
- Two months later, the people of Singapore facedOCBC 360's reduction on 1 August 2025, which offers the highest interest rate if you deposit your salary, save, and use your OCBC credit card for expenses only2.45% p.a.
And now, on 1 September 2025, the
UOB One savings accountis also officially weakened. Its maximum rate has now been reduced to
2.5% p.a. The environment for savings accounts is evolving rapidly, with financial institutions making it increasingly difficult to obtain the highest interest rates. Amid constantly changing requirements—such as salary deposits, credit card spending, insurance coverage, investment activities, and other conditions—discerning savers must stay informed about the most recent developments.
To assist you in understanding savings accounts in Singapore, we have gathered thetop savings accounts available in Singaporethe highest interest rates in 2025 tailored to various personal and financial requirements. Note: This article is updated monthly with the most recent rates. The rates listed here were last updated on1 Sep 2025. Which savings accounts in Singapore offer the top interest rates for 2025?
-
- Top savings accounts in summary
- Citi Wealth First Account
- Standard Chartered Bonus Saver
- UOB One Account
- OCBC 360 Account
- Bank of China Intelligent Savings Account
- Maybank SaveUp Account
- DBS Multiplier Account
- CIMB FastSaver Savings Account
- POSB SAYE Account
- HSBC Everyday Global Account
1. Quick overview: Top savings accounts in Singapore offering the highest interest rates (Sep 2025)
| Savings account | Effective interest rates (p.a.) | Best for |
| Standard Chartered BonusSaver | Up to 8.05% (for the first $100,000, meet 4 requirements) | High spenders |
| OCBC 360 | Up to 5.45% (on first $100,000, fulfil 5 criteria) | Individuals with a minimum salary of $1,800 |
| Citi Wealth First Account | Up to 7.51% (on the initial $50,000 to $500,000), fulfil 5 criteria) | Individuals who have additional Citibank products |
| Bank of China Intelligent Savings Account | Up to 5.35% (on first $100,000, fulfil 4 criteria) | High spenders |
| UOB One | Up to 2.50% (for the first $150,000, meet 2 requirements) | Freelancers & self-employed |
| Maybank Save Up | Up to 3.33% (on the initial $75,000), fulfil 3 criteria) | Home, schooling, vehicle loan holders |
| DBS Multiplier | Up to 4.10% (on the first $50,000 – $100,000), fulfil 3 criteria) | Salaried workers |
| CIMB FastSaver | 2.88% (on the initial $25,000, meet 2 requirements) | Young professionals beginning their working lives |
| POSB SAYE (Save As You Earn) | 3.50% (merely deposit and keep funds, no requirements to meet!) | Students or first-jobbers |
| HSBC Everyday Global Account | As high as 3.25% (sign up and meet the criteria for the HSBC Everyday+ Rewards Programme) | HSBC Everyday+ Rewards Scheme, HSBC Everyday Global Debit Card holders |
Many savings accounts demand that you go through numerous steps to access their highest interest rates. However, let's face reality. Most people won't be taking out a mortgage, purchasing insurance from the bank, and investing with the bank—and especially not all at once.What can you gain if you meet only 2 or 3 requirements?, such as depositing your salary and using your credit card for expenses? Here's our practical overview for those who have $50,000 to $100,000 to save: | Savings account and the 2-3 simplest conditions to meet | Effective interest rateand income from the first $50,000 | Effective interest rateand income from the first $100,000 |
| Citi Wealth First AccountSave $3,000 each month + Spend $250 each month | 3.01% (up to first $50,000) You receive: $1,505 annually (~$125 each month) | 1.53% p.a.(For standard Citibanking users, 3.01% is applicable only on the first $50,000) You earn: $1,530 annually ($128 monthly) |
| Standard Chartered BonusSaverMinimum credit of $3,000 salary + Monthly expenditure of $1,000 | 3.05% p.a. (up to first $100,000) You receive: $1,525 ($127.08 each month) | 3.05% p.a. (up to the first $100,000) You receive: $3,050 (equivalent to $254.17 monthly) |
| UOB One Minimum credit $1,600 salary + Monthly expenditure $500 | 1.50% p.a. (up to first $75,000) You receive: $750 ($62.50 each month) | 2.10% (EIR on first $100,000) You receive: $2,100 ($175 each month) Note: The highest EIR of2.50% p.a. applies on first $150,000. |
| OCBC 360 Minimum credit of $1,800 salary plusSpend $500 each month + Save $500 each month | 2.05% p.a.(up to first $75,000) Your annual income: $1,025 (~$85 per month) | 2.45% p.a.(EIR for the initial $100,000) Your earnings: $2,450 (equivalent to $204 monthly) |
| Bank of China SmartSaver Minimum credit $2,000 salary + Monthly expenditure of $750 | 1.75% p.a.(up to the first $100,000) You receive: $875per year (~$73 per month) | 1.75% p.a.(up to the first $100,000) You receive: $1,750per year (~$146 each month) |
| Maybank Save Up Programme Minimum credit of $2,000 salary + Monthly expenditure of $500 | 1.24% p.a.(up to the first $50,000) You receive:$619 annually (~$52 each month) | 1.12% p.a.(EIR applicable for the first $100,000, as bonus interest is only applicable for the first $75,000) You earn:$1,121.50 annually (~$93 each month) |
| DBS Multiplier Additional salary credit + 1 category ($500 minimum monthly transactions) | 1.80% p.a.(up to the first $50,000) You receive:$900 annually (~$75 each month) | 0.925% p.a.(available only for the first $50,000 at 1.80% per annum) Your earnings:$927 annually (~$77 each month) |
| CIMB FastSaver Credit salary or schedule GIRO transfer + Spend $800 per month on CIMB Visa Signature Credit Card | 2.33% p.a. (up to the first $50,000) You receive:$1,165 annually (~$97 each month) | 1.99% p.a. (EIR on the first $100,000) Your earnings:$1,990 annually (~$166 each month) |
| POSB SAYE (Save As You Earn)No prerequisites, but cannot be withdrawn for 2 years | 3.50% p.a. You earn: $1,750 annually (~$146 each month) | 3.50% p.a. You earn: $3,500 annually (~$292 each month) |
| HSBC Everyday+ Rewards ProgrammeMinimum deposit of $2,000 and perform 5 transactions | 2.25% p.a.interest + 1% cashback (maximum $300 per month) You earn: $1,125per year (~$94 per month) (excluding cashback) | 2.25% p.a.interest + 1% cashback (maximum $300 per month) You earn: $2,250per year (~$188 each month) (excluding cashback) |
Note: The table above assumes you have a standard banking relationship. If your income is higher, your expenses are greater, or you are a premier customer, orprivate bankingClient, you might get more favorable rates. Review the specific sections on each savings account below for further details. 1. Citi Wealth First Account
| Citibanking, Citi Priority | Citigold | Citigold Private Client |
| Deposit amount | First $50,000 | First $250,000 | First $500,000 |
| Base interest rate | 0.01% p.a. |
| Accumulate at least $250 per month via Citibank Debit Mastercard | 1.5% p.a. |
| Invest (min. $50,000/month) | 1.5% p.a. |
| Insure (min. $50,000/month) | 1.5% p.a. |
| Take a loan (minimum $500,000 for a home) | 1.5% p.a. |
| Save (min. $3,000/month) | 1.5% p.a. |
| TOTAL | 7.51% p.a. |
The Citi Wealth First Accountemploys a straightforward method to determine its overall interest rate:base interest (0.01%) + additional interest (as high as 7.50%). Its fundamental interest begins at 0.01% For all individuals, regardless of whether you are a Citibanking, Citi Priority, Citigold, or Citigold Private Client customer. This represents the lowest base interest rate among all the savings accounts listed here. Then, enhance that meager 0.01% with additional interest rates. You will receive varying bonus rates based on which of the following categories you meet: - Spend (+1.5%): Allocate a minimum of $250 per month using your Citibank Debit Mastercard.
- Invest (+1.5%): Make a single or multiple new lump sum investments amounting to a minimum of $50,000 per month. These investments may consist of Unit Trusts, Structured Notes, and Bonds.
- Insure (+1.5%): Acquire one or more new single-premium policies with a combined value of at least $50,000 per month. This does not include policies bought through the Central Provident Fund Savings or Supplementary Retirement Schemes.
- Borrow (+1.5%)Secure a new mortgage of no less than $500,000.
- Save (+1.5%): Add more funds to your account, ensuring that the average daily balance increases by a minimum of $3,000 compared to the previous month.
If you meet all the transaction criteria mentioned earlier, the highest interest rate available for the Citi Wealth First Account is quite favorable.7.51%.That's among the top rates for savings accounts this month. Additionally, it covers the initial $50,000 to $150,000 in your account, not only the first $25,000.afterthe initial $100,000 or so (pointing at you, UOB One). That implies7.51% per annum is the effective interest rate.!Honestly speaking, most of us can only put our wages into the account, meaning "
Save", and "
Spend. If you meet these 2 conditions, you will be rewarded
3.01%Interest on the Citi Wealth First Account. That's
$1,505 earned per year from your first $50,000.
The sole benefit of initiating a Citigold or Citigold Private Client banking account is that the promotional interest rates can be applied to a higher amount. For Citibanking andCiti Prioritycustomers, bonus interest rates apply solely to the initial $50,000, as per theCiti Wealth First T&Cs(Clause 7). This rises to $250,000 forCitigoldand $500,000 for Citigold Private Client. Citi Wealth First Account - Minimum balance: $15,000
- Fall below fee: $15
- Bonus interest cap: $50,000 – $500,000
[ms-inline-widget provider_slugs="citibank" account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="citi-wealth-first-account-gold" ]
Back to top 2. Standard Chartered BonusSaver account interest rates
The Standard Chartered BonusSaversavings account just received an improvement. Following a reduction on 1 January 2025 to a maximum interest rate of 6.05% per annum, it is now back to a maximum of8.05% p.a.—the top in the account's history. Here's an analysis of theamendments implemented on 1 June 2025: | Transactions | Current interest rates |
| None (base interest) | 0.05% |
| Salary credit (min. $3,000) | +1.00% +1.50% |
| Credit card spending (min. $1,000) | +1.00% +1.50% |
| Allocate funds into a qualifying unit trust (minimum $20,000) | +2.00% +2.50% for 6 months |
| Purchase qualifying insurance (minimum $12,000) | +2.00% +2.50% for 6 months |
| Total interest | 6.05% p.a. 8.05% p.a. |
[ms-inline-widget account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="standard-chartered-bonussaver" ]
Although 8.05% per annum is quite high, achieving this highest interest rate on the Standard Chartered BonusSaver is not straightforward. You must meet all four conditions: deposit your salary, make purchases with your credit card, invest, and purchase insurance. Challenging!If you only focus on the easiest opportunities, such as salary credit and credit card expenses, you can still achieve a satisfactory outcome.
3.05% p.a.However, for fulfilling the same 2 requirements, even the weakened UOB One Account (
3.30% p.a. on the first $150,000) is more appealing. If you can also save at least $500 per month, the OCBC 360 account (
3.30% p.a.on the first $100,000) is also similar.
On the plus side, 8.05% per annum is charged on the total amount of $100,000, whereas accounts like the UOB One savings account will only offer the highest interest rate on a limited amount through a tiered structure. (Check ourreview of the UOB One accountto view the effective interest rates applicable to the full $100,000 amount. Please note that you will only receive the bonus interest if your salary is credited and you are earning at least$3,000 per month. If your income is lower, I recommend the OCBC 360 savings account instead—it will offer you2.00% p.a.interest earned on your initial $100,000 from depositing fundsminimum salary of $1,800. Standard Chartered Bonus Saver - Minimum balance: $3,000
- Fall below fee: $5
- Bonus interest cap: $100,000
Back to top[ms-inline-widget provider_slugs="standard-chartered" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="standard-chartered-simply-cash-credit-card" ]
3. Interest rates for UOB One savings account
The UOB One Account provided us all with significant benefits from
Dec 2022until Apr 2024, with a maximum rate of
7.80% (EIR: 5.00% p.a.) Back then, it was just about using a UOB credit card and depositing our salaries into the account. Oh, those were the good old days. However, Singapore's highest interest savings account lost its top position on 1 May 2024 when it lowered its maximum interest rate to
6.00% per annum (EIR: 4.00% per annum)Exactly 1 year later, it was reduced again on 1 May 2025 (maximum of 5.30% p.a., EIR: 3.30% p.a.). And now, as of 1 September 2025, the EIR has dropped to only 2.5% p.a. with the UOB One Account.
UOB One savings account interest rates
| Account Monthly Average Balance | Spend $500 monthly on qualifying UOB Card transactions | $500 spent monthly on qualifying UOB Card + 3 GIRO direct debit transactions | $500 spent each month on qualifying UOB Card transactions + credit salary through GIRO |
| First $75,000 | 0.65% | 1.50% 1.00% ↓ | 2.30% 1.50% ↓ |
| Next $50,000 | 0.05% | 2.50% 2.00% ↓ | 3.80% 3.00% ↓ |
| Next $25,000 | 0.05% | 0.05% | 5.30% 4.50% ↓ |
| Above $150,000 | 0.05% | 0.05% | 0.05% |
The top interest rate is now 4.5% per annum, a decrease from 5.30% per annum. However, r
Remember that the interest rates mentioned above are only applicable to certain levels—for instance, the 4.50% rate applies only to the $25,000 amount exceeding your initial $125,000. To accurately evaluate your income through the UOB One Account, wwhat you need to focus on is the
effective interest rate—the actual interest rate applied to the entire sum you deposit into your UOB One Account.
| Annual effective interest rates for UOB One Account |
| Account Monthly Average Balance | Spend $500 monthly on qualifying UOB Card transactions | $500 spent monthly on qualifying UOB Card + 3 GIRO automatic payments | $500 spent monthly on qualifying UOB Card transactions + credit salary through GIRO |
| $75,000 | 0.65% | 1.00% | 1.50% |
| $125,000 | 0.41% | 1.40% | 2.10% |
| $150,000 | 0.35% | 1.18% | 2.50% |
The highest EIR you can obtain with UOB One is
2.50% per annum on your initial $150,000. This assumes that you use a UOB credit card and deposit your salary into the account (we will discuss the details in the sub-section below). Although it is a small reduction, 2.50% per annum is still among the highest rates available, considering how straightforward it is to meet—just satisfy two relatively simple conditions. In comparison,
Standard Chartered will only give you
2.05% p.a.to meet the same requirements. The
OCBC 360 savings accountis the nearest rival to UOB One, providing
2.45% p.a.For individuals who deposit their salary, use an OCBC credit card, and save a minimum of $500 per month. This final condition imposes certain limitations on your account withdrawals—you must ensure that your average balance rises by $500 every month. Another advantage of UOB One compared to OCBC 360 is that the 2.50% annual interest rate applies to $150,000, whereas the 2.45% offered by OCBC 360 is only applicable to $100,000 in the OCBC 360 account. Those with savings exceeding $100,000 may find UOB One more beneficial.
How to get the highest return on the UOB One savings account
At least UOB has not altered the method of earning bonus interest on the UOB One. This implies that this benefit of theUOB One accountremains unchanged—its method to secure the highest interest rate is straightforward.You need to meet these two conditions only: - Direct your salary to the UOB One account through GIRO
- Charge a minimum of $500 each month using an eligible UOB Card
The cards that qualify for the $500 spending are: Among these cards, the UOB One Card is considered one of the top choices to use with the UOB One savings account. Discover the reasons in our complete review.
review of the UOB One account. [ms-inline-widget provider_slugs="uob" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="uob-one-card" ] If you are looking for a card that has no minimum spending requirement, the
Recently updated UOB Lady's CardPerfect for you. And yes, men can apply as well! [ms-inline-widget provider_slugs="uob" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="uob-lady-s-card" ] [ms-inline-widget account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="uob-one-account" ]
UOB One savings account - Minimum balance: $1,000
- Fall below fee: $5 (Exempted for the first 6 months for online accounts)
- Bonus interest cap: $100,000
Back to top 4. Interest rates for OCBC 360 savings account
| Transactions | Interest rate (first $75,000) | Interest rate (next $25,000) |
| None (base interest) | 0.05% | 0.05% |
| Salary deposit (minimum $1,800, GIRO/FAST/PayNow) | + 1.20% | + 2.40% |
| Boost the average monthly balance (minimum $500) | + 0.40% | + 0.80% |
| Redeem (minimum $500 spent on specific OCBC credit cards) | + 0.40% |
| Ensure coverage for selected items (minimum $2,000) | + 1.20% (first 12 months) | + 2.40% (within the first 12 months) |
| Allocate funds to specific items (minimum $20,000) | + 1.20% (first 12 months) | + 2.40% (within the first 12 months) |
| Keep the minimum average daily balance$250,000 | + 2.00% |
[ms-inline-widget account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="ocbc-360-account" ] The OCBC 360 savings account offers a starting base interest rate of
0.05% p.a. You earn this on any amount deposited into the account. From there, the OCBC 360 savings account offers different bonus rates for depositing your salary, spending at least $500 per month on your credit card, increasing your balance, and making insurance or investment-related transactions. You can choose and combine the conditions you meet to access various interest rates. However, these bonus rates are only applicable to the first $100,000 in your account. Based on the combination of conditions you meet, this is the maximum Effective Interest Rate (EIR) you will receive on your first $100,000:
| Criteria met | Effective interest rate | Interest earned (on $100,000) |
| Salary + Save | 2.05% p.a. | $2,050 |
| Earn + Save + Spend | 2.45% p.a. | $2,450 |
| Earn + Save + Spend + Protect or Invest | 3.95% p.a. | $3,950 |
| Earn + Save + Spend + Insure + Invest | 5.45% p.a. | $5,450 |
Honestly, most people are likely to meet only 3 requirements:
Salary,
Save, and
Spend. After meeting these 3 conditions, the highest EIR you can obtain is
2.45% p.a. To summarize, its main rival, the UOB One account, currently offers an EIR of 2.50% per annum, making the two options quite comparable. So, how do you choose between the two?
OCBC 360 versus UOB One savings account
In numerical terms, you receive
0.05% morecompared to the OCBC 360 account (2.45% p.a.). Other
additional advantages of UOB Oneinclude:
- You merely need to accomplish2 criteria, acknowledging your income and expenses incurred through your credit card.
- The 2.5% annual rate applies to thefirst $150,000, whereas OCBC 360's 3.45% is applied to thefirst $100,000.
However, there are 2 arguments to be presented for the
OCBC 360 account compared to the UOB One account.
- With the OCBC 360 account, there isno one is required to hit. Combine and select according to your preference. The UOB One account mandates that you use a UOB credit card as a foundation to benefit from its bonus interest rates.
- With the OCBC 360 account, you receive additional interest.for acknowledging your salary viaGIRO, FAST, or PayNow. The UOB One account only qualifies if your salary is credited to itvia GIRO.
The 0.05% annual difference in earnings between the two cards doesn't significantly impact your overall gains. Pick a savings account that meets your criteria and offers interest returns that suit your needs.
Top cards suitable for the OCBC 360 savings account
The
bonus 0.40% p.a. interestfor credit card expenses, it's straightforward to meet, but keep in mind that the $500 monthly spending is applicable only to specific
OCBC credit cards:
My top choice is the
OCBC 365 Credit Cardfor its generous cashback percentages, provided that there is a minimum monthly expenditure of $800:
- 5% cash rebate for regular meals (covering local, international, and online food delivery services)
- 6% cash rebate on fuel expenses at all local and international petrol stations
- 3% cash rebate for grocery purchases, land transportation, online travel services, regular telecom and power bills
[ms-inline-widget provider_slugs="ocbc" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="ocbc-365-credit-card" ]
But if you've gone through enough steps for your savings account and simply desire a flat 1.6% cashback rate from your credit card, the
OCBC INFINITY Cashback Cardis more suitable. [ms-inline-widget category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="ocbc-infinity-cashback-card" ]
OCBC 360 - Minimum balance: $1,000
- Fall below fee:$2. Exempted for the initial year.
- Bonus interest cap: $100,000
Back to top 5. Faedah kadar akaun Bank of China SmartSaver
| Transactions | Interest rate |
| None (base interest) | 0.2% p.a. ↓ |
| Insurance plan spending | 3.00% p.a. ↑ for 12 consecutive months |
| Salary credit | + 0.80% p.a. ↓ (min. $2,000) |
| Credit card spending | + 0.75% p.a. (minimum $750) OR + 1.25%p.a. (min. $2,500) |
| Three bill payments of no less than $30 each (via GIRO or online/mobile banking) | 0.1% p.a. |
| (For account balance exceeding $100,000) Additional bonus interest if you meet any one of the conditions for Card Spending, Salary Deposit, or Payment bonus interest | 0.60% p.a. |
Although the OCBC 360 and UOB One accounts were the notable ones to face reductions on 1 August and 1 September 2025 respectively, another bank also quietly entered the trend—the Bank of China.
With the China Bank SmartSaver account, you now get 1.00% p.a.only for opening the account and depositing your salary (minimum of $2,500) into it. This is a decrease from the previous1.5% p.a. The Bank of China SmartSaver account also provides a financial bonus of3.00%annually for 12 continuous months. Nevertheless, to be eligible, you need to pay a significant amount for their insurance offerings. Here are your choices: - $12,000 per year in premiums for a 10-year period
- $24,000 per year in premiums over a 5-year period
- $150,000 One-Time Payment Insurance Plan
If you fully utilize the bonus interest across all categories, you can enjoy a rate of up to
5.35% p.a.On your initial $100,000 saved with the Bank of China. Conversely, if you only deposit your salary and spend ($750 per month), considering the standard base interest, you would receive an interest rate of 0.2% + 0.80% + 0.75% =
1.75% per annum on your initial $100,000. You are better off with CBC 360 or UOB One.
Bank of China SmartSaver - Minimum balance: $200 (Keep a minimum of $1,500 to qualify for bonus interest)
- Fall below fee: $3
- Bonus interest cap: $100,000
Back to top 6. Interest rates for Maybank Save Up Program
| Interest rates |
| Transactions | First $50,000 | Next $25,000 | Maximum Effective Interest Rate |
| None (base interest) | Up to 0.25% p.a. | Up to 0.25% p.a. |
| 1 x transaction | + 0.30% p.a. | + 1.00% p.a. | 0.53% per annum (excluding base interest) |
| 2 x transactions | + 1.00% p.a. | + 1.50% p.a. | 1.17% p.a. (excludes base interest) |
| 3 x transactions | + 2.75% p.a. | + 3.75% p.a. | 3.08% p.a. (excludes base interest) |
[ms-inline-widget account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="maybank-save-up-account" ]
Base interest
The Maybank Save Up Programmebegins with a higher fundamental interest rate compared to most other savings accounts... somewhat. Thethe base interest rate is actually structured in tiers: - First $3,000: 0.05% p.a.
- Next $47,000: 0.25% p.a.
- Balance exceeding $50,000: 0.25% per annum
Your base interest's applicable interest rates are therefore:
- First $50,000: 0.238% p.a.
- First $75,000: 0.242% p.a.
- First $100,000: 0.244% p.a.
Bonus interest
Next, the Maybank Save Up Scheme thenallows you to select from 9 various Maybank products/services to earn additional interest: - Direct debit payment (minimum $300) or salary deposit (minimum $2,000)
- Credit card expenditure (minimum $500) onMaybank Platinum Visa Card and/or Horizon Visa Signature Card
- Put money into a structured deposit (minimum $30,000)
- Put money into a unit trust (minimum $25,000)
- Purchase insurance (minimum $5,000 per year)
- Home loan (min. $200,000)
- Renovation loan (min. $10,000)
- Car loan (min. $35,000)
- Education loan (min. $10,000)
The additional interest rates are not attractive unless you complete 3 transactions.If you make 3 transactions and begin with a promotional interest rate of 0.25%, your effective interest rate would be approximately2.99% p.a.on your initial $50,000 and4.00% p.a.on the following $25,000. In total, you are looking at3.33% per annum effective interest rate on the initial $75,000, including base interest. For reference, the OCBC 360 account offers you anAnnual effective interest rate of 2.45% on $100,000for achieving 3 categories—receiving your salary, saving, and spending using your credit card. UOB One is offering anAnnual effective interest rate of 2.50% on the first $150,000If you use a card for spending and credit your salary through GIRO, these options offer lower rates but apply to a higher amount—and, for the UOB One account, have more straightforward processes. Speaking of
credit card transactions, please be advised that Maybank only takes into account credit card spending on theMaybank Platinum Visa Card and Horizon Visa Signature Card. Spending on other Maybank credit cardsnot applicable. On the bright side, these cards offer favorable cashback incentives both locally and internationally.[ms-inline-widget provider_slugs="maybank" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="maybank-platinum-visa-card" ] [ms-inline-widget provider_slugs="maybank" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="maybank-horizon-visa-signature" ]
Maybank Save Up Programme - Minimum balance: $1,000
- Fall below fee: $2. Exempted for people under 25 years old.
- Bonus interest cap: $50,000
Back to top 7. Interest rates for DBS Multiplier savings account
The interest rates offered by the DBS Multiplier account are only favorable if you meet
Three types of expenses related to credit card usage, home loans, insurance, and investments.
| Total monthly transactions | Income + 1 category | Income + 2 categories | Income + 3 categories |
| First $50,000 | First $100,000 | First $100,000 |
| $500 to $14,999 | 1.80% | 2.10% | 2.40% |
| $15,000 to $29,999 | 1.90% | 2.20% | 2.50% |
| $30,000 and up | 2.20% | 3.00% | 4.10% |
[ms-inline-widget account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="dbs-multiplier-account" ]
The rates listed in the table above are applicable to you if you deposit your salary/dividends/SGFinDex intoany DBS or POSB account holder(yes, it doesn't have to be your DBS Multiplier account!). You must haveat least $500 in transaction valuefrom 1 or more of the following groups: - Credit card or PayLah transactions (no minimum requirement)
- Home mortgage (cash and CPF portions included)
- Certain insurance coverage options (life insurance, critical illness coverage, endowment plans, and specific single-premium policies)
- Chosen financial instruments (routine savings plan, mutual funds, internet-based stock trading, digiPortfolio or debt securities, and customized financial products)
The more categories you cover, the higher the additional interest rates you receive.One aspect I particularly appreciate about the DBS Multiplier is that there's no minimum requirement for spending on the credit card or DBS PayLah!. You have the option to choose either, but I would suggest going with the credit card for additional cashback or miles. You can accumulate up to 10 miles per dollar with the
DBS Altitude Visa Signature CardOn your travel expenses at Expedia and Kaligo, and 2.2 miles per dollar on other international purchases. [ms-inline-widget provider_slugs="dbs" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="dbs-altitude-visa-signature-card" ] The
DBS Vantage Visa Infinite Cardoffers a larger welcome miles bonus, but it is not the easiest credit card to obtain because of its high minimum income requirement. [ms-inline-widget provider_slugs="dbs" category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="dbs-vantage-visa-infinite-card" ]
What if you possess nothing?DBS credit card, insurance, or investments? If you are 29 years old or younger, you are still eligible to earn1.5% per annum on the initial $50,000You are not required to link your salary to a DBS/POSB account, but DBS will still ask you to use PayLah! at minimum.The positive news is that there is no minimum spending requirement for PayLah! You can use it to pay for any purchase, even something as small as a $1+ cup of coffee.kopiat your nearby café. Simple! In general, the DBS Multiplier account simplifies earning additional interest through its no-minimum-spend transaction categories and the ability to deposit your salary into any DBS account, not just the DBS Multiplier. However, the interest rates for the DBS Multiplier account are relatively low, particularly if you do not deposit your salary into a DBS/POSB account.In comparison, CIMB FastSaver offers interest rates beginning at 1.50% per annum once the account is opened and a minimum deposit of $1,000 is made. DBS Multiplier - Minimum balance: $3,000
- Fall below fee: $5. Exempted for first-time clients and individuals aged 29 and below.
- Bonus interest cap: $100,000
Back to top 8. Fastrack savings account interest rates from CIMB
The
CIMB FastSaveraccount functions somewhat differently from the others on this list. it does include the standard requirements—such as salary and credit card spending—but these are only necessary to access the highest interest rate (currently
3.19% p.a.) on the first $25,000. Once you fulfill these conditions for the initial balance of $25,000, you can enjoy up to
2.70%p.a. Yes, there are no requirements to purchase insurance, register for an investment, or go through any other unnecessary steps.
| Account balance | Prevailing interest rate | Additional interest rate (credit salary or set up a regular GIRO payment of no less than $1,000) | Additional interest rate (spend on CIMB Visa Signature Credit Card) | Total interest rate |
| First $25,000 | 0.88% p.a. | + 0.50% p.a. | + 1.00% (minimum $300 monthly qualifying purchase) + 1.50%^ (minimum $800 monthly qualifying purchase) | 2.88% |
| Next $25,000 | 1.78% p.a. | – | – | 1.78% p.a. |
| Next $25,000 | 2.50% p.a. | – | – | 2.50% p.a. |
| Above $75,000 | 0.80% p.a. | – | – | 0.80% p.a. |
If we suppose you meet the criteria to qualify
2.88% on your initial $25,000, your applicable interest rates are:
| Balance | EIR |
| First $25,000 | 2.88% |
| First $50,000 | 2.33% |
| First $75,000 | 2.39% |
| First $100,000 | 1.99% |
This account is also ideal for most young professionals beginning their careers, due to the very low minimum balance requirement of $1,000 (note, however, that a balance of $5,000 is needed to qualify for the current promotion) and no penalty for falling below. CIMB FastSaver - Minimum balance: $1,000
- Fall below fee: None!
- Bonus interest cap: $75,000
Back to top 9. Interest rates for POSB SAYE savings account
What if you wish to open a savings account but only want to deposit funds without any additional actions? The most suitable option with minimal effort is thePOSB SAYE (Save As You Earn) account. You must establish a recurring payment to deposit a set amount each month (ranging from $50 to $3,000) into your SAYE account, and then avoid using the funds for two years. As a benefit of your discipline, you receive an annual return of 3.5%. Keep in mind that it is significantly less liquid compared to other savings accounts, so for the sake of your financial stability, please don't put youremergency stash in here. Back to top 10. HSBC Everyday Global Account
[ms-inline-widget account_type="savings-account" category_slug="savings-account" locale="en" country_code="sg" channel="savings-account" product_slug="hsbc-everyday-global-account-personal" ]Our final savings account on this list is the most troublesome. The
HSBC Everyday Global Account is a
multi-currency accountThat also functions as a savings account...posing as a combination that offers interest and cashback. Yikes. Let me clarify.The HSBC Everyday Global Account allows you to conduct transactions in 11 various currencies, although that might not be the main reason you're reading this article. More relevant to our discussion today, it also serves as a
savings account. Unlike the others on this list, the HSBC Everyday Global Account does not accumulate additional interest based on your spending/saving/borrowing/investing/insuring activities. Instead, it
The account functions in conjunction with theHSBC Everyday+ Rewards Programmeto, together between the account and the programme, generate you additional1% bonus interest and 1% cashback per year.
HSBC Everyday Global Account: What level of interest can I accumulate?
When you have an
HSBC Everyday Global Accountand also meet the criteria for the
HSBC Everyday+ Rewards Programme, you can earn
up to 3.25% p.a. from this moment until 30 September 2025: - 0.05% per annum. Everyday Global Account's current interest rate
- 2.20% per annum Daily Global Account Bonus Interest
- 1.00% per annum once you meet the criteria for the HSBC Everyday+ Rewards Programme
Together, these result in your total interest of
3.50% p.a. What are the requirements to join the HSBC Everyday+ Rewards Programme?
The third element mentioned (1% additional interest) is obtained by meeting the criteria for the HSBC Everyday+ Rewards Programme. Below are the conditions: - Deposit at least $2,000(for Individual Banking Customers) or$5,000(for Elite members) into the account
- Make 5 eligible transactions, without any minimum requirement. These may include any mix of the following categories:
- Transactions made with a HSBC personal credit card*
- Purchases conducted using an HSBC Everyday Global Debit Card
- GIRO bill payments
- Transferring funds to an account not belonging to HSBC
What benefits can I get from the HSBC Everyday+ Rewards Programme?
Eligibility for the Everyday+ Rewards Programme offers you: - 1% bonus interest(as discussed) on the amount you add to your account each month (maximum of $300 per month)
- 1% cashback transactions made using your HSBC Everyday Global Debit Card and GIRO bill payments (with a monthly limit of $300 for Personal Banking clients, and $500 for HSBC Premier members)
* Note that you are able to utilize a
HSBC credit cardTo be eligible for the HSBC Everyday+ Rewards Programme, however, your credit card purchases will not generate cashback after you join the programme. The 1% cashback you get is based on your spending with your HSBC Everyday Global card.DebitCard, not your credit card. This modification was introduced by HSBC on 2 May 2024 and is also detailed in theirupdated terms and conditions.[caption id="attachment_91001" align="aligncenter" width="1524"] Picture:
HSBC[/caption] On the positive side, HSBC does not restrict you to a limited number of credit cards for meeting the credit card spending requirements, allowing you to choose from the various HSBC credit cards available. My preferred option is the new
HSBC Live+ Credit Card, which allows you to earn as much as 8% cashback on this card for specific dining, shopping, and entertainment expenses. [ms-inline-widget category_slug="best-credit-cards" locale="en" country_code="sg" channel="credit-cards" product_slug="hsbc-live-plus-card" ] In addition to the interest and cashback, HSBC will offer a one-time cash bonus of up to
$150 (for Individuals with Personal Banking accounts) /
$300 (Premier customers)When you deposit a minimum of $100,000 (Personal Banking) / $200,000 (Premier Banking) and satisfies the eligibility requirements mentioned earlier for the initial 6 months.
How to sign up for the HSBC Everyday+ Rewards Programme
To sign up, send an SMS to 74722 using this structure: EGA followed by the first 9 digits of your Everyday Global Account number (for example, EGA 123456789)
Back to top We've also reviewed the
Top Banking Accounts in HK. Explore them! You might also want to look into the Top Savings Accounts with Debit Cards in 2025.
Read more.
Know someone who needs to change theirsavings account? Share this article with them! About the author
Vanessa Nahadmires her financial articles in the same way she enjoys her comedies—funny, engaging, and helping people gain a bit more understanding of life. She thinks money—just like life—should be kept straightforward. When not working, Vanessa can be found taking dance lessons, playing the guitar with her fingers, and working towards her goal of making her one-eyed cat the most pampered feline around.
Top 10 Savings Accounts in Singapore Offering the Highest Interest Rates (Sep 2025)was initially released on theblog.
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