Bank Account Interest Rates Singapore 2026: Which Account Pays the Most?
Singapore savings accounts now offer up to 5.85% p.a. in 2026, but only if you meet specific salary crediting, spending, and investment requirements. Standard Chartered Bonus$aver leads with the highest headline rate (5.85% p.a.), followed by OCBC 360 at 4.70% EIR and DBS Multiplier at 4.10% p.a. If you prefer zero hoops, Trust Bank pays 2.40% p.a. on up to S$1.2 million — no salary credit needed.
Not financial advice. All figures are for educational reference only. Data verified as at 26 August 2026.
- SC Bonus$aver pays the highest headline rate at 5.85% p.a. on the first S$100,000 — but requires salary crediting, card spend, bills, investments, and insurance.
- If you only credit salary and spend on a card, DBS Multiplier (4.10%) or OCBC 360 (4.70% EIR Aug-Dec 2026 promo) are your best bets.
- For zero-effort interest with no salary requirement, Trust Bank (2.40%) beats every digital bank and most traditional banks.
Quick Comparison: Singapore Bank Account Interest Rates (August 2026)
Here’s the full picture in one table. These are the maximum headline rates each account can offer, based on official bank data as at August 2026.
| Account | Max Rate | Balance Cap | Conditions |
|---|---|---|---|
| SC Bonus$aver | 5.85% p.a. | S$100,000 | Salary + Card + Bills + Invest + Insure |
| OCBC 360 | 4.70% EIR ★ | S$100,000 | Salary + Save + Spend + Insure + Invest |
| DBS Multiplier | 4.10% p.a. | S$100,000 | Income credit + 3+ categories + S$30K+/mo |
| UOB One | 2.50% EIR | S$150,000 | Salary ≥S$1,600 + UOB card ≥S$500/mo |
| Trust Bank | 2.40% p.a. | S$1,200,000 | None required (open account + deposit) |
| GXS Saving Pocket | 1.38% p.a. | Unlimited | S$10,000+ in Shell Saving Pocket (promo) |
| MariBank | 0.88% p.a. | No cap | None required |
★ OCBC 360 promotional EIR effective 1 August – 31 December 2026. Source: Official bank websites (SC, DBS, OCBC, UOB, Trust Bank, GXS, MariBank), August 2026.
Max interest rates across Singapore savings accounts — August 2026. Source: Official bank websites.
Traditional Banks: SC Bonus$aver, DBS Multiplier, OCBC 360, UOB One
Traditional banks offer the highest headline rates in Singapore. But every top rate comes with conditions attached. Here’s what you actually need to earn that headline figure.
Standard Chartered Bonus$aver — Up to 5.85% p.a.
SC Bonus$aver has the highest rate in Singapore as at August 2026. The headline rate of 5.85% p.a. applies to your first S$100,000 and became effective from 1 May 2026 (down from a previous 7.05% p.a. high).
To hit the full 5.85%, you need to stack ALL five bonus categories each month: salary credit, SC card spend (≥S$500), bill payments, investments, and insurance. Miss even one, and the rate drops significantly. The base rate sits at just 0.05% p.a. on your entire balance.
That said, SC offers flexibility. You can reach a high rate through Card spend + Salary or Card + Bills + Invest combinations — so salary crediting is not always mandatory. This makes it one of the most versatile accounts for Singaporeans who are flexible about how they bank.
OCBC 360 — Up to 4.70% EIR (Promotional, Aug–Dec 2026)
OCBC has temporarily boosted its 360 Account rate from 1 August to 31 December 2026. You can earn up to 4.70% EIR on the first S$100,000 if you meet salary, save, spend, insure, and invest criteria. Outside this promotional window, rates are lower.
For most people who just credit salary, save monthly, and spend on an OCBC card, the realistic effective rate is closer to 2–3% p.a. Still, it beats most fixed deposits, with full liquidity.
DBS Multiplier — Up to 4.10% p.a.
DBS Multiplier rewards you based on how many transaction categories you hit each month. The categories are: credit card/PayLah! spend, home loan, insurance, and investments — on top of income crediting.
The maximum of 4.10% p.a. on the first S$100,000 requires income crediting, three or more categories, and total eligible transactions exceeding S$30,000 a month. Most salaried professionals who credit income and use a DBS card realistically earn 1.80–2.10% p.a. — which is still competitive but far below the headline.
UOB One — Up to 2.50% EIR
UOB One is the simplest of the four traditional accounts. You only need two things: credit your salary (minimum S$1,600 via GIRO or PayNow) and spend S$500 or more on an eligible UOB card each month.
The effective interest rate can reach 2.50% EIR on balances up to S$150,000 — the highest balance cap of any traditional bank on this list. If your savings exceed S$100,000, UOB One may actually be a better fit than DBS Multiplier or OCBC 360, which cap out at S$100,000.
There’s also an additional bonus interest of up to 2% p.a. when you maintain or grow your Monthly Average Balance month-over-month.
Requirements to earn top interest at each bank — verified August 2026. Source: Official bank websites.
Digital Banks: Trust Bank, GXS, and MariBank
Singapore’s three digital banks offer a different value proposition: no hoops, no salary crediting, no minimum spend. You just deposit money and earn interest from day one.
Trust Bank — 2.40% p.a. (Best Zero-Requirement Rate)
Trust Bank offers 2.40% p.a. on balances up to a generous S$1,200,000 cap — and you don’t need to do anything special to earn it. No salary crediting, no card spend, no insurance purchase. Just open an account and deposit.
The Trust Bank savings account is backed by Standard Chartered and NTUC, making it one of the most credible digital banks in Singapore. All deposits are insured by SDIC up to S$100,000 per depositor.
If you’re someone who doesn’t want to jump through hoops but still wants a rate that beats fixed deposits, Trust Bank is the standout choice in 2026. You can open an account using the referral code HTWYQP95 for a welcome bonus.
Learn more about Trust Bank’s interest rate structure in our detailed guide.
GXS Bank — 1.08–1.38% p.a.
GXS Bank (backed by Grab and Singtel) pays 1.08% p.a. on its Main Account — no conditions attached. There’s also a promotional Shell Saving Pocket rate of 1.38% p.a. for deposits of S$10,000 or more, and a Boost Pocket that earns 1.22% p.a. plus an additional bonus depending on tenure.
GXS is best suited as a secondary account or a place to park short-term savings. Its rates trail Trust Bank significantly but offer daily interest crediting and no lock-in. Use referral code YONG477 when signing up.
MariBank — 0.88% p.a. Base Rate
MariBank’s base savings rate stands at 0.88% p.a. as of 4 August 2026 — a significant drop from its earlier promotional highs. New users get an additional 1.60% p.a. for the first 30 days, bringing the promotional rate to 2.48% p.a. on the first S$100,000.
After the 30-day window, you’re back to 0.88% p.a. That’s below GXS Bank and far below Trust Bank. MariBank is primarily useful for Shopee users who benefit from seamless integration within the Shopee ecosystem. Use referral code 2DCT80WQ for a sign-up bonus.
| Digital Bank | Base Rate | Max Rate | SDIC Insured |
|---|---|---|---|
| Trust Bank | 2.40% p.a. | 2.40% p.a. | Yes (up to S$100K) |
| GXS Bank | 1.08% p.a. | 1.38% p.a. | Yes (up to S$100K) |
| MariBank | 0.88% p.a. | 2.48% (new, 30 days) | Yes (up to S$100K) |
Source: Official bank websites (Trust Bank, GXS, MariBank) | Data verified 26 August 2026.
Which Bank Account Is Best for You in 2026?
There’s no one-size-fits-all answer. The best account depends on how you bank.
If you want the absolute highest rate and meet all conditions: SC Bonus$aver at 5.85% p.a. wins. Make sure you can sustain salary crediting, monthly card spend, bill payments, plus an investment and insurance with SC each month.
If you credit salary and spend on a card (but nothing else): OCBC 360 currently offers the best deal through its 1 August – 31 December 2026 promotional EIR of 4.70%. DBS Multiplier is a close second if you can get above the S$500/month salary + card threshold.
If your savings exceed S$100,000: UOB One’s S$150,000 cap is a genuine advantage. You earn interest on a larger pool without capping out.
If you want zero conditions and a competitive rate: Trust Bank at 2.40% p.a. is unmatched in this category. You don’t need to do anything — just deposit. It’s also useful as a secondary account alongside your main salary account to maximise total interest earned.
If you’re already banking with Grab/Singtel: GXS Bank at 1.08–1.38% p.a. is a reasonable option for day-to-day savings. It won’t beat Trust Bank, but the daily interest crediting and digital-first UX are convenient.
For most Singaporeans, the smart play is a two-account strategy: credit your salary into a condition-based account (DBS/OCBC/SC/UOB) to maximise bonus interest, and park excess savings above the cap in Trust Bank at 2.40%.
Read more: GXS vs Trust Bank vs MariBank: Which Digital Bank Is Best in Singapore?
For those interested in growing wealth beyond savings accounts, consider exploring Syfe’s referral code and sign-up bonus or the Endowus referral code for cash management solutions that may beat savings account rates.
You might also find our Singapore retirement calculator useful to model how different interest rates affect your long-term savings goals.
Frequently Asked Questions
What is the highest savings account interest rate in Singapore in 2026?
Which Singapore savings account pays the most interest without salary crediting?
Is my money safe in GXS Bank, Trust Bank, and MariBank?
How does the DBS Multiplier account work in 2026?
Should I open multiple bank accounts to maximise interest in Singapore?
What is the MariBank interest rate as of August 2026?
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Interest rates are subject to change by the banks at any time. Always verify current rates directly with your bank before making any financial decisions. The Kopi Notes is not affiliated with any of the banks mentioned. Referral codes may result in The Kopi Notes earning a referral fee.
This article was researched with the help of AI. While we strive to keep all information accurate and up to date, there may be errors. If you notice any discrepancies, please contact us.
