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

What happened?

Several savings accounts are offering higher interest rates in October 2026.

CIMB has raised its fresh-funds bonus, while HSBC and Standard Chartered eSaver have introduced new promotional offers.

What caught my attention is that some promotions let me earn more without moving my salary or meeting monthly card-spend requirements.

At the same time, some high-yield savings accounts continue to offer a maximum effective interest rate of up to 5.85% p.a., subject to conditions such as salary crediting, card spend, or investment and insurance purchases.

If my money has been sitting in the same account for a while, it could be worth checking whether it can earn more elsewhere.

But I would first check which requirements I can consistently meet, and whether bonus interest applies to my entire balance or only to qualifying fresh funds.

In this guide, I compare the best savings accounts in Singapore in October 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 5 October 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

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.

For Personal Banking customers, the October promotion offers 1.20% p.a. bonus interest on qualifying incremental fresh funds, on top of the account’s tiered base interest. On S$100,000 of fully qualifying fresh funds, this works out to approximately 2.12% p.a.

I can earn more by crediting my salary or setting up an eligible standing instruction via GIRO of at least S$1,000 monthly, and spending at least S$800 monthly on the CIMB Visa Signature credit card.

Meeting all these requirements brings the interest rate to 3.20% p.a. on S$25,000, or an effective interest rate of approximately 2.49% p.a. on S$100,000.

However, the promotional rate needs to be understood carefully.

The fresh funds bonus applies only to eligible incremental balances compared with your 30 September 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.

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. 

Maybank iSAVvy Savings Account

Why we like it:

The Maybank iSAVvy Savings Account stands out for savers with larger fresh-funds balances who prefer not to credit their salary or meet monthly card-spend requirements.

Its current promotion offers 2.00% p.a. on qualifying fresh funds until 31 October 2026. For someone placing S$150,000 that fully qualifies, this is higher than UOB One’s 1.90% p.a., without the salary and card-spend requirements.

To qualify, I need to increase my average daily balance by at least S$20,000 compared with August 2026, using eligible fresh funds.

For accounts opened during September or October 2026, the August reference balance is treated as zero.

However, the promotional bonus applies only to the incremental average daily balance. If I already held money in the account during August, I should not assume my entire balance will earn 2.00% p.a.

I would also keep the 31 October 2026 expiry in mind and review the available rates afterwards, as the promotional rate is not guaranteed to continue.

Learn more about the Maybank iSAVvy Savings Account and its promotion requirements here.

HSBC Everyday Global Account (EGA)

Why we like it:

The HSBC Everyday Global Account stands out for eligible existing customers with fresh funds who prefer not to credit their salary or meet monthly card-spend requirements.

Its October promotion offers 2.00% p.a. on qualifying incremental balances below S$500,000, rising to 2.10% p.a. for S$500,000 and above, if I meet its wealth or balance-maintenance conditions. The promotional interest period runs until 31 January 2027.

Source: HSBC’s published October 2026 promotion rates, checked on 5 October 2026. Rates include prevailing interest.

To qualify, my EGA must have been opened on or before 30 June 2026, and I need to register by 31 October 2026. Bonus interest applies to fresh funds that increase my average daily balance above September 2026’s level.

If I do not hold eligible wealth products, I can still earn the higher rate by keeping my qualifying incremental average daily balance in each month from November to January at least as high as October’s.

However, customers participating in an overlapping EGA deposit promotion, including August’s or September’s offer, are excluded. Bonus interest is paid by 31 March 2027, and the account must remain open and in good standing until then.

Learn more about HSBC EGA and its promotion requirements here.

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 15 October 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.

GXS Savings Account

Why we like it:

The GXS Savings Account stands out for savers who want straightforward interest without salary crediting or monthly card-spend requirements.

Its Saving Pockets offer a promotional 1.20% p.a., with interest credited daily and no minimum balance requirement. I can also withdraw my money anytime, making this an option for cash I may need at short notice.

For money I can set aside for longer, Boost Pockets offer up to 1.75% p.a., depending on the tenure.

The Boost Pocket rate consists of 0.88% p.a. base interest credited daily, plus bonus interest paid at maturity.

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

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

CIMB FastSaver stands out in October if my full S$100,000 qualifies as incremental fresh funds and I meet its salary or standing instruction and card-spend requirements.

For Personal Banking customers, the effective interest rate works out to approximately 2.49% p.a., with at least S$1,000 monthly salary credit or an eligible standing instruction, plus S$800 monthly eligible CIMB Visa Signature card spend.

OCBC 360 remains competitive at 2.20% p.a. if I credit at least S$1,800 in 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.

If I prefer not to move my salary or meet card-spend requirements, Maybank iSAVvy offers 2.00% p.a. on qualifying fresh funds. Eligible HSBC EGA customers can also earn 2.00% p.a. if they meet its wealth or balance-maintenance conditions.

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 October. CIMB has raised its fresh-funds bonus for Personal Banking customers from 0.90% to 1.20% p.a. Assuming my full S$100,000 qualifies as incremental fresh funds, I calculate an effective interest rate of about 2.12% p.a., without needing salary credit or card spend.

This puts CIMB FastSaver ahead of the HSBC Everyday Global Account at up to 2.00% p.a. for an eligible S$100,000 incremental balance, and Maybank iSAVvy at 2.00% p.a.

If I can set aside at least S$50,000 in qualifying fresh funds for 188 days, OCBC Statement Savings Account offers an annualised effective rate of approximately 1.81% p.a., with the funds earmarked for that period.

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.

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.

For qualifying fresh funds, CIMB FastSaver would be among my first comparisons this month. 

For CIMB FastSaver Personal Banking customers, S$100,000 of fully qualifying incremental fresh funds earns approximately 2.12% p.a. without salary credit or card spend. 

If I also credit at least S$1,000 in salary or make an eligible standing instruction transfer monthly, and spend S$800 on the CIMB Visa Signature card, the rate rises to approximately 2.49% p.a. on S$100,000, or 3.20% p.a. on S$25,000. I would check the October eligibility rules, particularly if I participated in September’s promotion.

If I have S$150,000 of fresh funds and prefer no salary or card-spend requirements, I would compare Maybank iSAVvy and HSBC EGA at 2.00% p.a. Maybank’s promotion ends on 31 October, while HSBC’s offer has additional account eligibility and wealth or balance-maintenance conditions.

If my savings do not qualify for these fresh-funds promotions, I would compare OCBC 360 at 2.20% p.a. on S$100,000 with UOB One at 1.90% p.a. on S$150,000. Both require qualifying salary credit and card spend, while OCBC 360 also requires me to increase my average daily balance by at least S$500 monthly.

For money I can set aside, I would compare OCBC Statement Savings Account’s approximately 1.81% p.a. over 188 days with GXS’s 1.75% p.a. for a 12-month Boost Pocket. I would keep cash needed for emergencies separate from these longer commitments.

For fewer ongoing requirements, I would consider SingFinance GoSavers at 1.30% p.a. on the first S$250,000, or GXS Saving Pockets at a promotional 1.20% p.a., with daily interest and flexible withdrawals.

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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