Best savings accounts in Singapore with highest interest rates [April 2026]

What happened?

Savings account rates in Singapore continue to trend lower in April 2026.

Recently, OCBC has announced that the 360 Account’s interest rates will be revised from 1 May 2026, lowering its maximum effective interest rate on the first S$100,000 from 5.45% p.a. to 4.45% p.a. while keeping the qualifying criteria unchanged.

Standard Chartered has also announced that Bonus$aver interest rates will be revised from 1 May 2026. This will lower its maximum headline rate from 7.05% p.a. to 5.85% p.a., with lower bonus interest for salary credit, card spend and investment.

GXS has also reduced its Main Account rate to 0.88% p.a., though savers can still earn up to 1.08% p.a. with Saving
Pockets and up to 1.30%p.a. with Boost Pocket. Standard Chartered e$aver lowered their promotional interest rate as well. 

At the same time, banks such as CIMB and HSBC EGA continue to run fresh funds promotions, while UOB is offering up to S$700 in guaranteed cash through its latest UOB Stack Your Cash Savings Promotion.

Amid these changes, many members of the Beansprout community have been comparing accounts and sharing tips on where they are parking their cash.

With rates and promotions changing across the market, I took the opportunity to reassess which savings accounts are still worth considering.

Whether you're looking for a high-interest account or one with minimal conditions, this latest round-up highlights the top savings accounts to help you grow your money safely and efficiently.

The Best Savings Accounts in Singapore (As of 2 April 2026)

• The best savings account if you have S$50,000 of savings, can credit at least S$500 of income each month into your savings account, and spend any amount on your credit card is the DBS Multiplier Account, offering interest ranging from 1.80% p.a. to 2.20% p.a..
• The best savings account if you have S$100,000 of savings, can credit your monthly salary into your savings account, save and spend S$500 monthly on your credit card is OCBC 360 Account, offering up to 2.45% p.a.. However, this will be revised to 1.95% p.a. from 1 May 2026 for the same salary, save and spend criteria.
• The best savings account if you have S$150,000 of savings, can credit your monthly salary into your savings account and spend S$500 monthly on your credit card is still the UOB One account, offering up to 1.90% p.a..
• The best savings account if you can credit a salary of at least S$3,000, spend more than S$1,000 monthly on your credit card, and purchase insurance and investment products is Standard Chartered BonusSaver, which offers a max EIR of 7.05% p.a.. However, this will be revised to 5.85% p.a. from 1 May 2026 onwards.
• The best savings account if you have S$100,000 of savings and prefer a straightforward account without salary credit or card spend is the UOB Stash account, offering up to 1.50% p.a. when you maintain or grow your Monthly Average Balance, especially when paired with the UOB Stack Your Cash Savings Promotion.

OCBC 360

Why we like it:

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.

It allows you to earn up to 2.45% p.a. effective interest 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 5.45% p.a., though these categories require purchasing eligible financial products.

One thing to note is that OCBC has announced a revision to 360 Account interest rates from 1 May 2026. While the qualifying criteria remain unchanged, the maximum rate on the first S$100,000 will be lowered to 4.45% p.a.

Learn more about the OCBC 360 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 allows you to earn an effective interest rate of up to 1.90% per annum on your first $150,000 with two simple steps. 

All you have to do is to spend a minimum sum of $500 monthly on eligible UOB credit/debit cards and credit your salary of at least S$1,600 monthly.

The UOB One account does not require you to purchase insurance or an investment scheme to unlock the highest tier.

You can also make use of the UOB Stack Your Cash Savings Promotion to earn up to S$700 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.

Standard Chartered Bonus Saver

Why we like it:

The Standard Chartered Bonus$aver Account offers up to 7.05% p.a. on your first S$100,000 balance. 

However, Standard Chartered has also announced that its Bonus$aver rates will be revised from 1 May 2026. From then on, the maximum rate will be lowered to 5.85% p.a.

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

To earn the highest rate, you’ll need to meet several conditions including purchasing investment and insurance, but even with just salary crediting (minimum S$3,000) and S$1,000 card spend, you can unlock a competitive interest rate of around 2.05% p.a.. But this will be lowered to 1.85% p.a. from 1 May 2026 onwards.

There is a Bonus Saver sign-up promotion running from 1 April to 31 May 2026, where new customers can receive S$138 cashback when they apply for both a Bonus$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.

UOB Stash Account

Why we like it: 

The UOB Stash account offers an easy way to earn a higher effective interest rate of up to 1.50% p.a. on your deposit account without compromising on liquidity.

If you have a monthly average balance of S$100,000 in the UOB Stash account, you will earn a total interest of about S$1,500 over one year. 

While it is lower than before, it is still a decent account to park your cash for slightly higher interest rates as compared to a no-frills savings account. 

By combining with the UOB Stack Your Cash Savings Promotion, you can get an additional S$430 cash credit when you top up S$100,000 new funds into your UOB Stash Account.

You don’t need a minimal credit card spend, or even need to credit your salary into the account. 

All you need to do is to maintain or increase your account balance compared to the previous month. 

Learn more about the UOB Stash Account here. Ready to apply? Sign up here.

DBS Multiplier

Why we like it:

The DBS Multiplier Account is a flexible savings account that rewards users with up to 4.1% p.a. interest on their 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. 

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

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

The short answer is – it depends. 

Many of the higher maximum effective interest rates are achievable if you meet certain criteria such as crediting your salary, spending on linked credit cards, or buying insurance and investment products.

Hence, the best savings account would depend on whether you are able to fulfil these criteria.

To make things clearer, I started by comparing the maximum effective interest rate (EIR) offered by some of the most popular savings accounts in Singapore. This gives us a baseline view of which accounts are the most rewarding if all conditions are met.

If the concept of effective interest rate is new to you, don't fret! We will explain it to you using Primary 5 math. 

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 6.0% p.a. rate may be applied to a specific deposit tier, say, above S$50,000. 

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

If you have S$100,000 of savings, can credit a monthly salary of at least S$1,800, and spend S$500 a month on your credit card, then OCBC 360 remains one of the strongest options in April 2026. 

It offers up to 2.45% p.a. effective interest on the first S$100,000 when you meet the salary, save and spend criteria.

That said, OCBC has announced that 360 Account interest rates will be revised from 1 May 2026. While the qualifying criteria remain unchanged, customers meeting the same salary, save and spend criteria will earn 1.95% p.a. on the first S$100,000 from May onwards.

This is followed by Standard Chartered BonusSaver offering an interest rate of 2.05% p.a. for meeting similar criteria. 

While OCBC 360 remains more attractive in April 2026, it would also remain slightly ahead from 1 May 2026 for savers meeting the same salary, save and spend criteria, even after both banks revise their rates.

However, Standard Chartered still offers a competitive alternative for those who are able to meet its higher hurdles, including at least S$3,000 in salary credit and S$1,000 in card spend each month.

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

If you have S$100,000 in savings and prefer a more straightforward account without salary credit or credit card spend requirements, the UOB Stash Account may be a good option. 

It offers an effective interest rate of 1.50% p.a., and when paired with the UOB Stack Your Cash Savings Promotion, the returns can be even higher. If you deposit S$100,000 in new funds into an eligible UOB savings account, you can receive S$430 in guaranteed cash, although the deposited funds will be earmarked and cannot be withdrawn for about 7 months.

If you want other straightforward and simpler options, the SingFinance GoSavers Account offers 1.30% p.a. on the first S$100,000, while the Singapura Finance Vivid Savings Account offers 1.28% p.a. on balances from S$10,000.01 to S$200,000.00.

If you are looking for a promotional interest rate for top-up of fresh funds, then the savings account to consider is the HSBC Everyday Global Account (EGA), Maybank iSavvy and CIMB FastSaver. 

Among these, CIMB is running a limited-time 0.30% p.a. bonus on incremental fresh funds, if you increase your CIMB FastSaver balance by at least S$10,000. If you are able to credit your salary and meet the spending requirement, CIMB FastSaver can be worth a closer look, with up to 2.30% p.a. on the first S$25,000.

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

If you are also looking to buy an investment and/or insurance product with the bank in addition to depositing S$75,000 of savings, crediting your salary and spending on credit card, the good news is that you would be able to earn an even higher interest rate on your savings account!

The Standard Chartered Bonus Saver will offer you an interest rate of up to 7.05% p.a. on the first S$100,000, but this will be revised to 5.85% p.a. from 1 May 2026. Even after the revision, it would still offer the highest headline rate among the major savings accounts in this comparison, although it comes with higher qualifying hurdles.

This is followed by the Bank of China SmartSaver which offers up to 4.60% p.a. on the first S$100,000, while the OCBC 360 account  currently offers up to 4.45% p.a. on the first S$75,000 for meeting the same criteria.

That said, OCBC has announced that 360 Account interest rates will also be revised from 1 May 2026. For customers meeting the same salary, save, spend, insure and invest criteria, the rate on the first S$75,000 will be lowered to 3.70% p.a.

What would Beansprout do?

I use savings accounts as one of the ways to park my cash and ensure I have sufficient cash set aside for emergency uses. 

With the many savings accounts offered by Singapore banks in 2026, it can be hard to know which one will actually help you earn the best interest.

Instead of chasing the highest headline rates, I would choose one (or a combination) based on the requirements I can realistically fulfil, and how much cash I’m planning to keep in the account.

If I have around S$50,000 of savings and can credit at least S$500 of income monthly, I would consider the DBS Multiplier Account. It offers around 1.80% p.a. to 2.20% p.a. on the first S$50,000 if I meet the relevant transaction criteria, and I could potentially earn more if I transact across additional eligible categories.

If I have around S$100,000 of savings, can credit at least S$1,800 salary monthly, and spend S$500 on my credit card, I would shortlist the OCBC 360 Account in April 2026. It offers up to 2.45% p.a. on the first S$100,000 for meeting the salary, save and spend criteria. However, I would also keep in mind that from 1 May 2026, the rate for the same criteria will be lower at 1.95% p.a.. 

If I prefer a simpler account without salary credit or card spend requirements, I would opt for the UOB Stash Account instead which offer 1.50% p.a. on the first S$100,000 if I maintain or increase my monthly average balance. Interested to apply? Sign up for UOB Stash account now.

If I want other straightforward alternatives with fewer hoops, I would also consider SingFinance GoSavers as it offer up to 1.30% p.a., although it is lower than UOB Stash.

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.. However, I would keep in mind that even if I meet the requirements, the interest earned on the first S$75,000 is still lower at 1.00% p.a., which affects the overall effective return depending on my balance.

If I am considering either UOB Stash or UOB One, I would also participate in the UOB Stack Your Cash Savings Promotion, which offers up to S$700 in guaranteed cash for eligible fresh funds top-ups.

If I have a savings or surplus of around S$25,000 in cash, can credit my income each month, and meet the required spend on a CIMB credit card, I would consider the CIMB FastSaver Account. It can offer up to 2.30% p.a. on the first S$25,000 if I fulfil the promotional criteria, making it a useful stackable option for a portion of my cash holdings.

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. From 1 May 2026, OCBC 360 will offer up to 4.45% p.a., while Standard Chartered Bonus$aver will offer up to 5.85% p.a.

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, T-bills, Singapore Savings Bonds (SSBs) and money market funds for my pot of liquidity funds. 

If you are open to having your money locked in, check out our guide to best fixed deposit rates in Singapore. 

To learn about how money market funds offer more liquidity compared to fixed deposits, you can read more here. 

You can also find out more about Singapore T-bills and Singapore Savings Bonds here. 

I also compare between fixed deposits, savings accounts, T-bills, SSBs and money market funds to find the best place to park your cash here. 

By finding the best place to park my cash, I know that I have a stable base for the rest of my portfolio to stay invested through markets ups and downs. 

When this pot is properly set up, I know I can ride through market volatility without being forced to sell my investments at the wrong time.

Curious how much your money could grow in the long run? Explore different scenarios with our compound interest calculator

Interested in the best promos this month? Check out other on-going deals happening right now.

Enjoyed this insight? Follow Beansprout on Telegram, Youtube, Facebook and Instagram, and add Beansprout as your preferred source on Google so you never miss an update.