Best savings accounts in Singapore — 2026
High-interest savings accounts, ranked by headline rate — with the conditions spelled out.
Ranked by max rate verified 26 Jul
1
DBS Multiplier ✓ verified
4.10 % p.a.
Top rate needs salary credit + transactions across several categories (cards, loans, insurance). bank page →
2
UOB One ✓ verified
3.40 % p.a.
Credit salary / GIRO + spend S$500 on an eligible card. bank page →
3
GXS Savings ✓ verified
2.82 % p.a.
Digital bank — no salary, spend or hoops. Simplest high rate. bank page →
4
Trust Bank ✓ verified
2.40 % p.a.
Digital bank — spend-linked, minimal conditions. bank page →
5
OCBC 360 ✓ verified
1.95 % p.a.
About 1.95% on salary + save + spend; reaches 4.45% when you also insure and invest. bank page →
A high-interest savings account can pay more than a fixed deposit — the top rates are “bonus interest” you unlock by doing things: crediting your salary, spending on a card, sometimes insuring and investing too. The list above is ranked by headline rate, each figure verified against the bank's page, with the conditions shown plainly.
How to read these rates — in plain English
Bonus interest stacks. You earn a small base rate on everything, plus extra for each thing you do (salary, spend, insure, invest). The headline “up to” number is what you'd earn only if you tick every box — OCBC 360, for example, is about 1.95% on salary + save + spend, and reaches 4.45% when you also insure and invest.
There's usually a cap — the bonus interest applies only up to a limit, often the first S$100,000.
The no-hoops option — the digital banks (GXS, Trust) pay a flat 2.4–2.8% with almost no conditions, the simplest choice if you'd rather not juggle requirements.
There's usually a cap — the bonus interest applies only up to a limit, often the first S$100,000.
The no-hoops option — the digital banks (GXS, Trust) pay a flat 2.4–2.8% with almost no conditions, the simplest choice if you'd rather not juggle requirements.
Want a guaranteed rate with no conditions at all? See fixed deposits.
Common questions
Which savings account has the highest interest in Singapore in 2026?
DBS Multiplier and UOB One advertise the highest headline rates (up to ~4.1% and ~3.4%), but only if you meet several salary and spending conditions. For an easy high rate with almost no conditions, the digital banks GXS (up to 2.82%) and Trust (2.4%) are hard to beat.
Do I actually get the advertised savings rate?
You earn the base rate on your whole balance, plus bonus interest for each condition you meet — so you'd reach the headline "up to" number only if you tick every box (salary, spend, insure, invest). The practical tip: look at the rate for the conditions you'll realistically meet, not the maximum. If you'd rather keep it simple, the digital banks pay a flat rate with almost no conditions.
Are digital bank savings accounts (GXS, Trust) safe?
Yes. GXS and Trust are licensed Singapore banks and deposits are SDIC-insured up to S$100,000 per bank, the same protection as DBS, UOB or OCBC.
Savings account or fixed deposit?
A savings account keeps your money fully accessible and can pay more if you meet the conditions; a fixed deposit gives a guaranteed rate but locks the funds for the term. Match it to whether you need flexibility or certainty.