Best savings accounts in Singapore with high interest rates [September 2026]

0What happened?

Savings account rates remain competitive in September 2026

I noticed that several savings accounts are offering higher interest rates. CIMB has raised its fresh-funds bonus, while HSBC has launched a new promotion and several banks have extended their existing offers.

At the same time, some high-yield savings accounts in Singapore continue to offer a maximum effective interest rate of up to 5.85% p.a.

However, I will have to meet certain conditions to earn these high interest rates on my savings account, such as salary crediting, card spend, fresh funds top-ups, or investment and insurance purchases.

This made me relook at the different savings accounts in Singapore and their ongoing promotions, especially whether the bonus interest applies to my entire balance or only to new funds I add.

After all, the best savings account will depend on how much cash I have and whether I can meet the qualifying criteria consistently.

In this guide, I compare the best savings accounts in Singapore in September 2026, outline the requirements to qualify for higher interest, and help you decide which account may work better for your situation.

The best savings accounts in Singapore 

The best savings account in Singapore depends on how much cash you have and which requirements you can realistically meet.

Some accounts offer higher rates if you can credit your salary and spend on a linked credit card, while others may be more useful if you prefer fewer conditions.

Here is a quick summary of the savings accounts that may stand out for different situations, based on information available as of 2 September 2026

Best high-yield savings accounts in Singapore by maximum effective interest rate

A higher advertised effective interest rate may not always mean that an account is the best savings account for you.

Many of the highest headline rates require salary crediting, credit card spend, or the purchase of investment and insurance products.

To make the comparison clearer, I started by comparing the maximum effective interest rate offered by some of the most popular savings accounts in Singapore.

How we come up with the list of best savings accounts in Singapore

Does a higher advertised effective interest rate mean it is the best savings account in Singapore?

It depends.

The effective interest rate is the total annual interest earned as a percentage of your average balance in the savings account over the year.

We suggest looking at the effective interest rate rather than the headline interest rate, as a bank may offer an interest rate of “up to 6.0% p.a.”, but this rate may only apply to a specific deposit tier.

For example, the highest rate could apply only to balances above S$50,000, or only after you meet several qualifying conditions.

Hence, the best savings account would depend on whether you are able to fulfil these criteria, and how much cash you plan to keep in the account. 

Featured high-yield savings accounts in Singapore

Standard Chartered Bonus Saver

Why we like it:

The Standard Chartered Bonus$aver Account stands out for its high headline rate, but it is not the simplest account to optimise.

It may be worth considering if you already plan to use Standard Chartered for card spend, salary crediting, investments or insurance.

However, I would be careful not to buy an investment or insurance product just to unlock a higher savings account rate.

The Standard Chartered Bonus$aver Account offers up to 5.85% p.a. on your first S$100,000 balance. 

Unlike some other accounts, the same bonus rate applies across your eligible balance without complicated tiering, making it easier to estimate your potential returns.

To earn the highest rate, you’ll need to meet several conditions, including purchasing investment and insurance products.

However, even with just salary crediting of at least S$3,000 and S$1,000 card spend, you can unlock a rate of around 1.85% p.a.

There is a Bonus Saver sign-up promotion running from 1 July to 30 September 2026, where new customers can receive S$228 cashback when they apply for both a Bonus$aver account and a Bonus$aver World Mastercard Credit Card, as well as deposit and maintain at least S$50,000 in fresh funds.

Learn more about Standard Chartered Bonus Saver here.

OCBC 360

Why we like it:

The OCBC 360 Account is useful if you want to earn bonus interest through regular banking habits, rather than relying only on short-term promotions.

It may work best if you already use OCBC as your main salary-crediting account and can consistently build your savings each month.

However, the highest headline rate requires additional invest and insure categories, so I would focus first on the more practical salary, save and spend criteria.

As OCBC’s flagship savings account, the OCBC 360 Account lets you earn higher interest on your deposits when you carry out everyday banking activities such as crediting your salary, saving, and spending.

From 1 August to 31 December 2026, you can earn up to 2.20% p.a. on the first S$100,000 when you credit your salary, save, and spend.

Those who also insure or invest with OCBC can boost their rate to a maximum 4.70% p.a., though these categories require purchasing eligible financial products.

Learn more about the OCBC 360 Account here. 

CIMB FastSaver Account

Why we like it:

The CIMB FastSaver Account has become one of the more competitive options this month if you have fresh funds and can meet the salary or card spend requirements.

It may work best for savers who have spare cash outside CIMB, and are comfortable crediting salary or setting up a standing instruction of at least S$1,000 a month.

You will also need to spend at least S$800 a month on the CIMB Visa Signature card to maximise the bonus interest.

With the latest promotion, you can earn up to 2.90% p.a. on the first S$25,000 if all criteria are met.

For S$100,000 of eligible fresh funds, the effective interest rate works out to about 2.19% p.a. if you meet the fresh funds, salary or standing instruction, and card spend requirements.

However, the promotional rate needs to be understood carefully.

The fresh funds bonus applies only to eligible incremental balances compared with your 31 August 2026 balance, while the salary or standing instruction and card spend bonuses apply only on the first S$25,000.

Here is how the effective interest rate (EIR) works out at different balances for Personal Banking customers:

Learn more about the CIMB FastSaver Account here.

UOB One Account

Why we like it:

The UOB One account is the flagship savings account of UOB which allows you to make minimal effort to earn the maximum interest rate possible. 

The UOB One Account is useful for savers who want a relatively simple way to earn bonus interest without buying investment or insurance products.

It may work best if you already use UOB cards for everyday spending and can keep a larger balance of up to S$150,000 with the bank.

However, the effective return depends on your balance, as the highest rate is only reached at the upper deposit tiers.

The UOB One Account allows you to earn an effective interest rate of up to 1.90% p.a. on your first S$150,000.

To qualify, you need to spend a minimum of S$500 monthly on eligible UOB credit or debit cards and credit your salary of at least S$1,600 monthly.

You can also make use of the UOB Level Up Your Savings Promotion to earn up to S$800 guaranteed cash when you deposit fresh funds into your UOB One account. 

Learn more about the UOB One Account here or sign up now to get started.

GXS Savings Account

Why we like it:

The GXS Savings Account is a digital savings account offered by GXS Bank, which is backed by Grab and Singtel.

GXS offers Saving Pockets at 1.08% p.a. with no salary crediting, card spend or minimum balance requirements. Interest is credited daily, and I can withdraw my money anytime.

If I am comfortable setting aside my cash for longer, I can earn a higher rate through a Boost Pocket, with rates ranging from 1.01% to 1.75% p.a. depending on the tenure.

The Boost Pocket rate consists of a 0.88% p.a. base interest rate credited daily, plus bonus interest paid when the Pocket reaches maturity. The highest 1.75% p.a. rate applies to the 12-month Boost Pocket.

I can start a Boost Pocket with S$100, open up to eight Boost Pockets, and place up to S$95,000 in total across them.

What stands out to me is the simplicity. I do not need to credit my salary or meet a minimum monthly card spend to earn these rates.

Learn more about GXS Savings Account here

DBS Multiplier

Why we like it:

The DBS Multiplier Account is useful because it recognises a wider range of income and transaction types compared to some other savings accounts.

It may work well if you already use DBS or POSB for everyday banking, card spend, PayLah!, home loan, insurance or investments.

It is also worth highlighting for younger savers, as those aged 29 and below may have a separate pathway to earn bonus interest without regular income crediting.

The DBS Multiplier Account rewards users with up to 4.10% p.a. interest on the first S$100,000 in SGD balances, depending on their monthly banking activity.

It recognises a wide range of income types beyond just salaries, such as freelance and gig payments, as well as CPF contributions. This allows more people, including NSFs and retirees, to qualify for bonus interest.

To qualify for higher interest, users need to credit income and transact in one or more eligible categories such as credit card spending, PayLah! usage, home loan repayments, insurance, or investments.

You can also get up to S$588 in combined rewards when you credit your salary, pay your taxes via GIRO, open and contribute to a Supplementary Retirement Scheme (SRS) account, and sign up for the DBS yuu Card.

Learn more about how DBS Multiplier Account works and check out the latest promotions here. 

For priority banking customers, you can learn more about DBS's priority banking offering, DBS Treasures, here. 

Best savings account for S$100k of savings, salary credit, and credit card spend

OCBC 360 remains one of the most competitive options if I have S$100,000, can credit my salary, increase my average daily balance by at least S$500 each month, and spend at least S$500 monthly on an eligible OCBC credit card.

During the current promotional period, I can earn an EIR of 2.20% p.a., slightly ahead of CIMB FastSaver at about 2.19% p.a.

However, the requirements are different. OCBC 360 does not require fresh funds, while the CIMB FastSaver rate assumes my full S$100,000 qualifies as incremental fresh funds. CIMB also requires at least S$800 in monthly card spend to earn its card-spend bonus.

Standard Chartered Bonus$aver comes next at about 1.85% p.a. if I credit at least S$3,000 of salary and spend at least S$1,000 monthly on an eligible Bonus$aver card.

Best savings account for S$100k of savings without salary deposit and credit card spend

For eligible new users, Mari Savings Account offers up to 2.88% p.a. with ShopeeVIP, although the new-user bonus lasts only 30 days.

For a longer promotional period, CIMB FastSaver has become more competitive in September. CIMB has raised its fresh-funds bonus for Personal Banking customers from 0.70% to 0.90% p.a. Assuming my full S$100,000 qualifies as incremental fresh funds, I calculate an effective interest rate of about 1.82% p.a., without needing salary credit or card spend.

This puts CIMB FastSaver ahead of the HSBC Everyday Global Account at up to 1.70% p.a. for an eligible S$100,000 incremental balance, and Maybank iSAVvy at 1.68% p.a.

Alternatively, GXS Boost Pockets offer up to 1.75% p.a. without salary credit or card spend. However, the highest rate requires a 12-month tenure and the bonus interest is paid only at maturity, so I would consider it if I am comfortable setting aside the money for longer.

If I prefer something simpler without tracking fresh-funds promotions, UOB Stash remains worth considering, with an EIR of up to 1.50% p.a. on S$100,000 if I maintain or increase my monthly average balance.

I can also pair it with the UOB Level Up Your Savings Promotion to earn additional cash rewards on eligible new funds, although the funds will be earmarked for about seven months.

For an even more fuss-free option, SingFinance GoSavers offers 1.30% p.a. on the first S$250,000 without salary crediting, card spend or monthly balance requirements.

Best savings account for S$75k of savings, salary credit, credit card spend, and investment/insurance products purchase

If I am already planning to buy eligible investment or insurance products from a bank, I may be able to earn a higher interest rate on my savings as well.

The Standard Chartered Bonus Saver will offer you an interest rate of up to 5.85% p.a. on the first S$100,000. It still offers the highest headline rate among the major savings accounts in this comparison, although it comes with higher qualifying hurdles.

Bank of China SmartSaver comes next at up to 4.60% p.a. on the first S$100,000 if I meet its wealth, salary, card spend and payment requirements.

For OCBC 360, I can earn about 3.80% p.a. on S$75,000 if I meet the Salary, Save, Spend, Insure and Invest categories. The advertised 4.70% p.a. maximum EIR applies when I have S$100,000 in the account.

What would Beansprout do?

I use savings accounts as one way to keep the cash I need for emergencies and upcoming expenses accessible within my Liquidity Pot.

With different banks offering different rates and qualifying criteria, I would not simply chase the highest headline rate. Instead, I would look at how much cash I have and which requirements I can realistically meet.

If I have S$150,000 of savings, can credit at least S$1,600 salary monthly, and spend S$500 on my credit card, I would consider the UOB One Account for its relatively straightforward two-step setup which offers me up to 1.90% p.a.. 

If I have around S$100,000 of fresh funds, can credit my salary or set up a monthly standing instruction, and spend at least S$500 a month on credit card, I would consider OCBC 360 Account

CIMB FastSaver is also competitive. If my full S$100,000 qualifies as incremental fresh funds and I meet its salary or recurring transfer and S$800 card-spend requirements, I calculate an EIR of about 2.19% p.a. 

For a smaller balance of S$25,000, CIMB FastSaver offers up to 2.90% p.a. on the first S$25,000 with the latest fresh funds promotion.

If I do not want to move my salary or commit to monthly card spend, I would look at CIMB FastSaver first. On S$100,000 of fully incremental fresh funds, I calculate an EIR of about 1.82% p.a., ahead of HSBC EGA at up to 1.70% p.a. for an eligible S$100,000 fresh-funds balance.

If I prefer not to keep tracking fresh-funds promotions, UOB Stash remains a relatively simple option, offering an EIR of up to 1.50% p.a. on S$100,000 as long as I maintain or increase my monthly average balance.

I can also pair UOB Stash or UOB One with the UOB Level Up Your Savings Promotion if I have fresh funds I do not need for about seven months. The promotion offers up to S$800 in cash depending on how much I deposit and whether I am new to UOB deposits.

If I prefer fewer hoops and am comfortable setting aside my cash for longer, I would also consider GXS Boost Pockets, which offer up to 1.75% p.a. for a 12-month tenure without salary credit or card spend.

If I want even more flexibility, SingFinance GoSavers offers a lower 1.30% p.a. on the first S$250,000, but with no minimum balance, salary crediting, card spend or fixed tenure.

If I am completely new to MariBank, I would consider opening a Mari Savings Account for cash that I want to keep accessible. Eligible new users can earn up to 2.88% p.a. on the first S$100,000 for the first 30 days. This consists of the prevailing 0.88% p.a. base rate, a 1.60% p.a. new-user bonus and a 0.40% p.a. ShopeeVIP bonus.

If I am a student, NSF or do not have regular income, I would also look at the DBS Multiplier Account if I am 29 years old and below. This is because users in this age group may earn 1.50% p.a. on the first S$50,000 with eligible credit card or PayLah! retail spend, even without income crediting.

If I am already planning to purchase an investment or insurance product with a bank, then I would explore accounts such as Standard Chartered Bonus Saver, OCBC 360 Account, or Bank of China SmartSaver. However, I would compare the requirements closely, as the qualifying criteria and interest rates differ across these accounts. 

Finally, I would also think about safety and flexibility, not just yield. If scam-risk is a concern, it might be worthwhile considering a "money lock" account which allow you to only access your deposits in person. 

Apart from savings accounts, I would also use a mix of fixed deposits, Singapore T-bills and Singapore Savings Bonds and money market funds for my Liquidity Pot within the Beansprout's Four Pot of Wealth.

Once you have already set aside enough cash for your safety buffer and upcoming expenses, you may also want to explore how the Four Pots of Wealth framework can help you grow your wealth beyond savings accounts, as well as read our beginner’s guide to start investing in Singapore.

Which savings account are you considering based on your savings amount and the requirements you can meet? Share your circumstances in the comments below or in the Beansprout Telegram community.

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