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

What happened?

Savings account interest rates have remained low in March 2026.

Nevertheless, there are still some Chinese New Year promotions from banks such as Standard Chartered, UOB and OCBC that you can tap on to earn cashbacks and higher rates.

In March, several banks such as  CIMB, HSBC, and GXS are also running promotions for topping up fresh funds.

On the other hand, Trust Bank have revised its interest tiers, resulting in lower rates compared to previous months.

Amid these changes, many members of the Beansprout community have been sharing their experiences, tips and comparing accounts to find the best place to park their cash.

With the constant revisions and updates of rates from different banks, I took the opportunity to re-assess 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 3 March 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..
• 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..

• The best savings account if you have S$100,000 of savings without salary credit and jumping through hoops is the UOB Stash account, offering up to 1.50% p.a., especially when paired with the UOB Leap of Fortune Savings Promotion may translate up to 1.75% p.a..

   

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.

Learn more about the OCBC 360 Account here. 

For those looking for a no-frills savings account, OCBC is running a Chinese New Year deposit promotion on their Statement Savings Account. 

You can earn a promotional yield of up to 1.40% p.a. on fresh funds of S$50,000 up to S$3,000,000 maintained for 88 days. 

You'll have to register for the promotion after depositing fresh funds to the eligible OCBC Statement Savings Account in order to get the bonus interest.

Learn more about the OCBC Chinese New Year Deposit Promotion 2026 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 Leap of Fortune Savings Promotion to earn up to S$380 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. 

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.

There is also a Bonus Saver Lunar New Year sign-up promotion running from 1 February to 31 March 2026, where new customers can receive S$188 cashback when they apply for both a Bonus$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 Leap of Fortune Savings Promotion, you can get an additional S$250 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 your monthly salary of at least S$1,800 into your savings account, and spend S$500 monthly on your credit card, then the best savings account for you might be OCBC 360 which offers up to 2.45% p.a..

This is followed by Standard Chartered BonusSaver offering an interest rate of 2.05% p.a. for meeting the same criteria, however with a higher spend and salary credit threshold. 

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 fuss-free account with no 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 Leap of Fortune Savings Promotion, the returns can be even higher. 

Paired with the promotion, you’ll receive a guaranteed S$250 cash credit when you deposit S$100,000 in fresh funds. Factoring this into your returns, the effective interest rate works out to approximately 1.75% p.a..

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. 

In particular, 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. 

The Bank of China SmartSaver will offer you an interest rate of up to 4.60% p.a., while the OCBC 360 account will offer you an interest rate of 4.45% 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 as it can deliver one of the stronger realistic returns of up to 2.45% p.a.. If I already plan to invest or insure with OCBC anyway, it may be possible to earn a higher rate, but I wouldn’t buy financial products purely to boost the interest.

If I have S$100,000 of savings and am looking for a fuss-free account instead, I would opt for the UOB Stash Account instead which offer 1.50% p.a.. Interested to apply? Sign up for UOB Stash account now.

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.

I would also participate in the UOB Leap of Fortune Savings Promotion as it offers additional cash rewards when I deposit fresh funds into a UOB savings account. 

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.

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.

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