GXS Savings Account: Earn up to 1.40% p.a. interest

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When it comes to earning more on our cash savings, digital banks like GXS remain worth looking at.

With the GXS Savings Account, you can earn 0.88% p.a. on the Main Account and 1.08% p.a. on Saving Pockets, with interest credited daily.

GXS also offers Boost Pockets, where you can earn up to 1.40% p.a. by setting aside your funds for fixed tenures of 1, 3, 4, 8 or 12 months.

The GXS Savings Account does not require salary crediting, card spending or a minimum balance to earn these rates.

You can open one GXS Savings Account and deposit up to S$95,000 in total as of as of 4 May 2026.

If you’re not yet familiar with the GXS Savings Account, here’s a closer look at what it offers, how much interest you can earn, and whether it could still be worth considering.

What is the GXS Savings Account?

The GXS Savings Account is a savings account offered by GXS, one of the digital banks licensed by the Monetary Authority of Singapore (MAS). 

GXS  is backed by a consortium consisting of Grab Holdings and Singtel. In case you’re still wondering, this explains its name GXS (or Grab x Singtel).

Since its launch in August 2022, all available GXS savings account slots were taken up within months. 

According to the company, the waitlist registration for the GXS Savings Account has also grown by more than 2.5 times since March 2023. 

GXS also started offering GXS FlexiLoan, the first unsecured term loan amongst banks in Singapore. 

This allows customers to pay off their loan partially or in full without any early repayment fees and with the additional benefit of saving on interest payments. 

GXS also introduced GXS Invest, which is a new product within the GXS app that allows you to invest fuss-free in a money market fund. Learn more about GXS Invest here.

What is the interest rate on the GXS Savings Account?

The GXS Savings Account consists of three parts: the Main Account, Saving Pockets and Boost Pocket.

GXS Main Account offers 0.88% p.a., with interest credited daily.

GXS Saving Pockets offers an interest rate of 1.08% p.a. and you can open up to 8 Saving Pockets and deposit up to S$95,000. There is no lock-in for funds placed in Saving Pockets.

It might also be worthwhile knowing that GXS credits interest to your account daily. 

This means that you do not have to worry about losing out on the interest if you need to withdraw your savings at any point in time. 

What is the interest rate on the GXS Boost Pocket?

GXS Bank (GXS) launched Boost Pocket to help GXS Savings Account customers grow their savings faster.

This allows customers with a GXS Savings Account to open a Boost Pocket through the GXS App. 

The Boost Pocket carries a base interest rate of 0.88% p.a., which is credited daily. 

It also has a bonus interest rate of up to 0.52% p.a. that will be applied if the Boost Pocket is held to the 1 month, 3 months, 8 months or 12 months maturity.

Bonus interest:

• 0.13% p.a. for 1 month
• 0.34% p.a. for 3 months
• 0.42% p.a. for 8 months
• 0.52% p.a. for 4 or 12 months

This means that you can earn an interest rate of up to 1.40% p.a., which applies to the 4-month and 12-month tenures through the GXS Boost Pocket.

Total interest rate earned:

• 1.01% p.a. for the 1 month tenure
• 1.22% p.a. for the 3 months tenure
• 1.30% p.a. for the 8 months tenure
• 1.40% p.a. for the 4 or 12 months tenure

No penalty will be charged if funds are withdrawn before maturity and you will still earn the base interest rate of 0.88% p.a. up till the withdrawal date.

If you want to retain your savings in the Boost Pocket for an extended period, you can opt to roll it over for the same duration at the current interest rate applicable at the time of extension. 

Funds in the Boost Pocket will automatically be transferred back to the Main Account once matured if not extended.

GXS customers have the flexibility to extend or withdraw their Boost Pocket at any time while it remains active.

Customers can fund the Boost Pocket with any amount starting from S$100. 

You can open up to five Boost Pockets. This means that you can fund a maximum total of S$95,000 across all your Boost Pockets.

What are the latest GXS Bank promotions?

GXS currently has a First Boost campaign for new GXS Savings Account customers.

From 14 April 2026 to 30 June 2026, new customers can receive S$20 cashback when they open a new 3-month Boost Pocket named “First Boost” or “FIRST BOOST”, deposit at least S$5,000 in fresh funds, and maintain the Boost Pocket until maturity.

The promotion is limited to the first 1,500 successful customers.

Also, new GXS Savings Account customers can receive S$10 off their next Grab ride when they sign up and pay with GXS Savings Account on an eligible Grab transaction. This offer ends on 30 June 2026.

You can find out more about GXS latest promotion here. 

How does GXS compare to MariBank and Trust Bank?

If you’re looking for a fuss-free savings account with daily interest and no salary crediting requirement, GXS remains competitive.

GXS offers 1.08% p.a. on Saving Pockets and up to 1.40% p.a. on Boost Pockets, while MariBank currently offers 0.88% p.a. with no conditions required.

Trust Bank offers a higher headline rate of up to 2.40% p.a., but this requires customers to meet bonus interest categories such as salary crediting, spending, PayNow inflows, investment purchases, maintaining S$100,000 average daily balance, or referring a new credit card customer.

In case you’re wondering how does GXS compare to Trust Bank and , I've compiled them in the table below.

What users may not like about GXS

#1 – Account limit of S$95,000 on Boost Pocket

Like I mentioned earlier, you can open a maximum of five Boost Pockets with a total deposit cap of S$95,000. 

This means that even if you have a lot of savings, you will only be able to enjoy the promotional interest rate up to S$95,000 of deposits in your Boost Pockets. 

The GXS Saving Pocket and Main Account can have a total maximum deposit of S$95,000. 

To find out which other savings accounts allow you to earn a higher interest rate on your savings, check out our guide to the best savings account in Singapore. 

#2 – Boost Pockets are less flexible than Saving Pockets

Saving Pockets allow you to withdraw funds back to your Main Account anytime.

Boost Pockets, on the other hand, are meant for cash that you can set aside for a fixed tenure.

You will need to hold the Boost Pocket until maturity to receive the additional bonus interest.

This makes Boost Pockets closer to a short-term fixed savings option, rather than a fully flexible savings pocket.

#3 - Limited functions currently

GXS is still more limited than a traditional bank account.

You will not be able to deposit or withdraw physical cash from the account through any ATM in Singapore.

The account also does not support cheque facilities or GIRO arrangements for payments to billing organisations.

The full terms and conditions can be found here. 

Is the GXS Savings Account safe?

GXS holds a banking license issued by the Monetary Authority of Singapore. 

As shared earlier, it is backed by two names many of us are familiar with – Grab and Singtel.

Also, all deposits in GXS will be fully covered by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor.

What would Beansprout do?

The GXS Savings Account remains a simple option for those who want to earn interest on their savings without salary crediting, card spending or minimum balance requirements.

For flexible savings, the Saving Pocket offers 1.08% p.a., with interest credited daily.

You just need to make sure your money is in the Saving Pockets rather than the Main Account. 

For spare cash that you do not need immediately, the Boost Pocket offers a higher rate of up to 1.40% p.a., although you will need to hold it until maturity to receive the bonus interest.

The interest rate offered is higher than that offered by some other savings accounts such as Maribank that do not require you to jump through any hoops.

If you're looking for another fuss free option, the UOB Stash account can be one to consider as it has an effective interest rate of 1.50% p.a. on a S$100,000 balance. Not to mention, there is also the UOB Stack Your Cash Savings Promotion, where you can earn up to S$700 in guaranteed cash. 

From a practical standpoint, GXS works best as a no-frills savings account to park money you want to keep safe and accessible for emergencies, bills, and near-term goals, while still earning some interest. 

To find out which savings account allows your money to work harder, check out our guide to the best savings account with highest interest rates in Singapore.

If you are deciding where to park your cash, you can also explore how the GXS Savings Account fits into your broader Liquidity Pot, alongside fixed deposits, T-bills, Singapore Savings Bonds and money market funds.

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.

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