Best savings accounts in Singapore with highest interest rates [September 2025]

What happened?

Savings account interest rates in Singapore have been on a steady decline in recent months. 

In September, fuss-free options like GXS and MariBank revised their rates lower. 

While Beansprout community members also noted that UOB's flagship UOB One Account reduced its interest rate. 

This is following earlier cuts on OCBC 360, another popular high-yield savings account. 

With constant revisions across the board, I took this opportunity to re-evaluate which savings accounts remain worth considering. 

Whether you’re after the highest possible rates or prefer minimal conditions, this round-up highlights the top accounts to help you grow your money safely and efficiently.

The Best Savings Accounts in Singapore (As of 1 September 2025)

• The best savings account if you have S$150,000 of savings, can credit your monthly salary into your savings account and spend regularly on your credit card is the UOB One account.
• The best savings account if you can credit salary, spend regularly on your card, and purchase insurance and investment products is Standard Chartered BonusSaver
• The best savings account if you have S$100,000 of savings without salary credit and jumping through hoops is the UOB Stash account, especially when paired with the UOB Nation of Savers promotion.
• The best no-frills savings account without salary credit and jumping through hoops is GXS Savings Account.
• The best new-to-bank promotional interest rate for S$100,000 savings, salary credit and card spend is DBS Multiplier

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 2.50% 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 Nation of Savers Promotion to earn up to $340 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 8.05% 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 3.05% p.a.

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 2.045% 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 $2,045 over one year. 

By combining with the UOB Nation of Savers Promotion, you can get an additional S$210 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.

GXS Savings Account

Why we like it:

The GXS Savings Account is a savings account offered by GXS, backed by a consortium consisting of Grab and Singtel. 

GXS Boost Pocket allows you to earn a base interest rate of 1.38% per annum, and a bonus interest of 0.5% per annum for tenures of 1, 3 and 8 months. This bring the total interest to 1.58% p.a. on Boost Pocket. 

Customers can fund the Boost Pocket with any amount from S$100 to S$30,000 depending on your maximum deposit limit on your GXS app.  

You can open up to two Boost Pockets.

There are no hoops to jump through to earn this rate, no salary crediting, card spending, or investment requirements. Just deposit and earn.

Interest is calculated on daily balances and credited monthly. 

There’s no lock-in period, and you can access your funds anytime.

Learn more about GXS Savings Account 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.

From 1 September 2025 to 31 December 2025, new users can enjoy up to 2.5% p.a. on their first S$100,000 by opening an account, crediting salary via GIRO, and transacting in any one category. 

In addition to the bonus interest you can earn with Multiplier, you can also receive additional rewards of up to S$680 when you credit your salary and sign up for the DBS yuu Card.

Learn more about the DBS Multiplier Account here. 

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

Do the higher maximum effective interest rates offered make these the best savings accounts in Singapore?

The short answer is – it depends. 

Many of these accounts require you to fulfil various criteria, such as depositing your salary and spending on credit cards, to be able to earn a higher tier of interest rates. 

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

Let us look at a few examples to see how different individuals would be able to find the best savings accounts with the highest interest rate using the tool.

To uncover which is the best savings account in Singapore, I started by doing a simple comparison of the maximum effective interest rate offered by some of the more popular savings accounts in Singapore

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 given only for balances above a certain level of deposits, say 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 into your savings account, and spend regularly on your credit card, then the best savings account for you might be the Standard Chartered BonusSaver which offers up to 3.05% p.a.

This is followed by Bank of China SmartSaver Account and OCBC 360 offering an interest rate of 2.25% p.a. and 2.45% p.a. respectively for meeting the same criteria. 

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 2.045% p.a., and when paired with the UOB Nation of Savers promotion, the returns can be even higher.

Under the promotion, you’ll receive a guaranteed S$210 cash credit when you deposit S$100,000 in fresh funds. Factoring this into your returns, the effective interest rate works out to approximately 2.26% p.a.

Both MariBank and GXS offer an interest rate of 1.28% p.a. and 1.58% p.a. respectively without having to jump through any hoops. 

MariBank allows you to earn an interest of 1.28% p.a. on up to S$100,000 of deposits. 

GXS is offering the interest rate of 1.58% p.a. on its Boost Pocket, which has a maximum deposit amount of S$60,000 across two pockets for tenures of 1, 3 and 8 months. 

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), followed by Maybank iSavvy and Standard Chartered eSaver

If you’re new to the DBS Multiplier account, there’s a promotion running until 31 December that lets you earn up to 2.50% p.a. interest. To qualify for the interest rate, you’ll need to maintain at least S$100,000 in your account, make transactions of S$30,000 or more, and fulfil the usual requirements of salary credit plus one other category, such as card spend.

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 8.05% p.a. 

the Bank of China SmartSaver will offer you an interest rate of up to 5.35% p.a. , while  the OCBC 360 account will offer you an interest rate of 4.45% p.a..

What would Beansprout do?

With the many savings accounts offered by Singapore banks in 2025, it might be hard to find the best savings account to earn the highest interest rate.

However, we were still able to maximise our interest rate earned on different savings account based on various requirements we can fulfil. 

If you have S$100,000 of savings, can credit your monthly salary into your savings account, and spend regularly on your credit card, then the best savings account for you might be the Standard Chartered BonusSaver.

If you have S$150,000 of savings, can credit your monthly salary into your savings account, and spends regularly on your credit card, then the best savings account for you might be the UOB One Account. Interested to apply? Sign up for UOB One Account now.

If you have S$100,000 of savings and looking for a fuss-free account, then the best savings account for you might be the UOB Stash Account. Interested to apply? Sign up for UOB Stash account now.

If you are looking for a promotion, the UOB Nation of Savers promotion offers additional cash rewards when you deposit fresh funds into a UOB savings account. 

If you are also looking to buy an investment or insurance product with the bank in addition to depositing S$75,000 of savings, crediting your salary and spending on credit card, then the best savings account for you might be the OCBC 360 Account, Bank of China SmartSaver or Standard Chartered Bonus Saver. 

And if you're new to DBS Multiplier, you can enjoy an interest rate of up to 2.5% p.a. when you sign up between 1 September 2025 and 31 December 2025 and maintain $100,000, credit your salary and spend on an eligible DBS credit card or PayLah!

Amongst the digital banks, GXS offers a compelling option with the interest rate of up to 1.58% p.a for up to $60,000 on its Boost Pocket.

If you would like to reduce the worry of losing your hard earned savings to scammers, then it might be worthwhile considering a "money lock" account which allow you to only access your deposits in person. 

If you are open to locking in your savings, check out our guide to best fixed deposit rates in Singapore. 

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