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

Savings account interest rates continue to change in June 2026.

For this month, I noticed that some high-yield savings accounts in Singapore offer a maximum effective interest rate of up to 5.85% p.a.

However, I found out that I will have to meet certain conditions to earn these high interest rates on my savings account, such as salary crediting, card spend, fresh funds top-ups, or investment and insurance purchases.

Also, the best savings account may also depend on how much cash I have.

In this guide, I compare the best savings accounts in Singapore in June 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 2 June 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

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.

It allows you to earn up to 1.95% 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 4.45% p.a., though these categories require purchasing eligible financial products.

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 is useful for savers who want a relatively simple way to earn bonus interest without buying investment or insurance products.

It may work best if you already use UOB cards for everyday spending and can keep a larger balance of up to S$150,000 with the bank.

However, the effective return depends on your balance, as the highest rate is only reached at the upper deposit tiers.

The UOB One Account allows you to earn an effective interest rate of up to 1.90% p.a. on your first S$150,000.

To qualify, you need to spend a minimum of S$500 monthly on eligible UOB credit or debit cards and credit your salary of at least S$1,600 monthly.

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 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 April to 30 June 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 is one of the simpler options if you want to park cash without changing your salary-crediting account or card spend habits.

It may work best for savers with irregular income, freelancers, or those who prefer a lower-maintenance account.

However, its headline rate is lower than some conditional accounts, so the main appeal is simplicity rather than the highest possible return.

The UOB Stash Account offers an effective interest rate of up to 1.50% p.a. on your deposits without compromising on liquidity.

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

While the rate is lower than before, it remains one of the more straightforward accounts for savers who do not want to commit to salary crediting or card spend.

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 useful because it recognises a wider range of income and transaction types compared to some other savings accounts.

It may work well if you already use DBS or POSB for everyday banking, card spend, PayLah!, home loan, insurance or investments.

It is also worth highlighting for younger savers, as those aged 29 and below may have a separate pathway to earn bonus interest without regular income crediting.

The DBS Multiplier Account rewards users with up to 4.10% p.a. interest on the 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. 

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 stronger non-promotional savings accounts in June 2026.

It now offers up to 1.95% p.a. effective interest on the first S$100,000 when you meet the salary, save and spend criteria.

Standard Chartered BonusSaver is close behind at about 1.85% p.a. if you meet the salary credit and card spend requirements.

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

Among these, Maybank iSavvy offers up to 1.50% p.a. on eligible incremental balances from 1 May to 30 June 2026, when you top up at least S$20,000 in fresh funds. 

Otherwise, CIMB is running a limited-time 0.50% 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 2.50% p.a. on the first S$25,000.

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.

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 5.85% p.a. on the first S$100,000. Even after the revision, it still offers 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 3.70% p.a. on the first S$75,000 for meeting the same criteria.

What would Beansprout do?

I use savings accounts as one way to park my cash and ensure that I have enough set aside for emergencies and upcoming expenses.

With many savings accounts offering different interest rates and qualifying criteria, I would not just chase the highest headline rate. Instead, I would choose one, or a combination of accounts, based on the requirements I can realistically fulfil and how much cash I plan 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 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 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 offers up to 1.95% p.a. on the first S$100,000 for meeting the salary, save and spend criteria. 

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.

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 credit card, I would consider the CIMB FastSaver Account. It can offer up to 2.50% 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. 

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. 

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.

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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