Endowus vs Trust Bank vs GXS 2026: Which Platform Pays More on Your Savings?
Endowus, Trust Bank, and GXS are three of the most popular platforms for Singapore savers in 2026. Endowus Cash Smart Ultra offers up to 3.00% p.a. with no lock-in. Trust Bank’s bonus savings tier reaches 3.50% p.a. with qualifying spend. GXS Flex Savings pays up to 3.00% p.a. with daily interest crediting. Each suits a different savings profile — here’s how to pick the right one for your idle cash.
Not financial advice. All figures are for educational reference only. Data as at June 2026 unless noted.
- Trust Bank gives the highest rate (3.50% p.a.) but requires monthly spend conditions to unlock it.
- Endowus Cash Smart Ultra (3.00% p.a.) and GXS Flex Savings (up to 3.00% p.a.) are simpler — no hoops to jump through.
- For CPF or SRS money, only Endowus accepts it — Trust Bank and GXS are cash-only platforms.
Table of Contents
Platform Overview: Endowus vs Trust Bank vs GXS
These three platforms serve different corners of the Singapore savings market. Understanding what each one is built for will help you choose — or combine them — for maximum returns.
Endowus is a licensed fund management company (MAS-regulated CMS licence). It lets you invest CPF OA, SRS, and cash in institutional-grade funds. The Cash Smart product is its idle-cash solution — a money market / ultra-short bond fund that currently yields around 3.00% p.a. with no lock-in and T+2 to T+4 liquidity.
Trust Bank is a digital bank backed by Standard Chartered and FairPrice Group. It holds a full bank licence from MAS, meaning deposits are protected by SDIC up to S$100,000. The Trust Bank savings account pays interest in tiers — base rate plus bonus interest for cardholders who hit monthly spend thresholds.
GXS Bank is Singapore’s first digital bank, co-owned by Grab and Singtel. Its Flex Savings product is unique: you earn daily interest at a variable rate (currently up to 3.00% p.a.) with withdrawals processed the next business day. There is no minimum balance. GXS is also SDIC-protected up to S$100,000.
| Feature | Endowus Cash Smart | Trust Bank Savings | GXS Flex Savings |
|---|---|---|---|
| Type | Fund (MMF) | Licensed Bank | Digital Bank |
| MAS-regulated | ✅ CMS Licence | ✅ Full Bank | ✅ Digital Bank |
| SDIC Protected | ❌ (fund, not deposit) | ✅ S$100k | ✅ S$100k |
| CPF / SRS | ✅ (SRS & CPF OA) | ❌ | ❌ |
| Min. Balance | S$1 | S$0 | S$0 |
| Lock-in | None (T+2 to T+4) | None | None (next-day) |
Source: Platform websites, Jun 2026.
Savings Rates Compared (Jun 2026)
Here’s where things get nuanced. The headline rates are close — but the conditions to earn them vary significantly.
Endowus Cash Smart Ultra currently yields around 3.00% p.a. This is a fund yield, not a guaranteed bank rate. It fluctuates with money market conditions. Historically it has tracked close to SORA + a small spread. You need no special action each month to earn it — just park your cash and it compounds daily.
Trust Bank pays a base rate of 2.50% p.a. on all balances. To unlock the bonus tier (reaching up to 3.50% p.a.), you need to spend a qualifying amount on your Trust Visa card each month. The bonus tier only applies to the first S$100,000 in your account. This is the highest outright rate — but it requires consistent card use.
GXS Flex Savings pays up to 3.00% p.a. with daily crediting. GXS periodically runs promotional rates for new funds parked in Flex Savings. The rate can change monthly, so check the app before making large transfers.
| Platform & Product | Base Rate | Max Rate | Condition for Max |
|---|---|---|---|
| Endowus Cash Smart Ultra | ~3.00% | ~3.00% | None (fund yield) |
| Trust Bank Savings (Base) | 2.50% | 2.50% | None |
| Trust Bank Savings (Bonus) | 2.50% | 3.50% | Monthly card spend |
| GXS Flex Savings | 2.38% | ~3.00% | Promo / tiered |
| MariBank Savings (for reference) | 2.70% | 2.70% | None (flat) |
Source: Platform websites, Jun 2026. Rates are indicative and subject to change. Endowus Cash Smart Ultra rate is fund yield, not a guaranteed deposit rate.
Dollar Impact: How Much You Actually Earn
Percentage points sound small. But when you convert them to dollars, the difference across platforms becomes real money — especially on larger cash balances.
Here’s what S$10,000, S$30,000, and S$50,000 earns annually on each platform at the rates available in June 2026:
| Platform | Rate | S$10k / yr | S$30k / yr | S$50k / yr |
|---|---|---|---|---|
| Endowus Cash Smart Ultra | 3.00% | S$300 | S$900 | S$1,500 |
| Trust Bank (Base only) | 2.50% | S$250 | S$750 | S$1,250 |
| Trust Bank (Bonus tier) | 3.50% | S$350 | S$1,050 | S$1,750 |
| GXS Flex Savings (Promo) | 3.00% | S$300 | S$900 | S$1,500 |
| CPF OA (for reference) | 2.50% | S$250 | S$750 | S$1,250 |
Source: Platform websites, Jun 2026. Endowus rate is fund yield; Trust Bank and GXS are bank deposit rates. Not financial advice.
The gap between Trust Bank’s bonus tier (3.50%) and base tier (2.50%) is S$500 per year on a S$50,000 balance. That’s a meaningful amount — but only if you meet the monthly spend condition consistently.
For straightforward parking of emergency funds or short-term cash, Endowus and GXS offer comparable returns with no behavioural strings attached. To explore building a full dividend income strategy, check out our guide on passive income Singapore options beyond savings accounts.
CPF & SRS Access: A Key Differentiator
This is where Endowus stands alone. Trust Bank and GXS are deposit accounts — you can only put cash in them. Endowus accepts CPF OA funds (via CPFIS) and SRS funds, letting you earn market-rate returns on money that would otherwise earn 2.50% (CPF OA) or sit in a low-rate SRS account.
Here’s the practical difference for an Ordinary Account holder with S$50,000 investable in CPF OA:
- CPF OA default: earns 2.50% p.a. guaranteed → S$1,250/year
- Endowus Cash Smart Ultra (CPFIS): earns ~3.00% p.a. (fund yield) → S$1,500/year
- Difference: ~S$250/year with essentially the same risk profile
For SRS holders, parking SRS funds in Endowus Cash Smart Ultra is one of the simplest ways to earn more than the 0.05% default SRS account rate — without taking on equity market risk. Check the SRS tax savings calculator to see how much you could save on income tax by topping up SRS first, then investing via Endowus.
Use the Endowus referral code 2V343 when signing up to unlock your welcome reward. CPF OA investing via Endowus is available to Singapore citizens and PRs aged 18 and above.
Fees, Minimums & Access Conditions
Fees matter more than many savers realise. A 0.05% annual fee on a S$50,000 balance costs you S$25/year — which can erode meaningful chunks of your interest income.
| Platform | Annual Fee | Withdrawal Time | Max Balance |
|---|---|---|---|
| Endowus Cash Smart Ultra | 0.05% (fund-level access fee) | T+2 to T+4 | No cap |
| Trust Bank Savings | None | Instant (bank transfer) | Bonus up to S$100k |
| GXS Flex Savings | None | Next business day | No cap |
Source: Platform websites, Jun 2026. Endowus access fee is charged at fund level (not a separate fee you pay). Trust Bank bonus interest cap applies to first S$100,000.
Key points:
- Endowus charges a 0.05% p.a. access fee (reflected in the net yield — the 3.00% figure is after this fee). No separate charges for deposits or withdrawals.
- Trust Bank has no fees but has a card spend condition for bonus interest. Withdrawals are instant via PayNow/FPS. The bonus interest only applies to the first S$100,000.
- GXS has no fees. Flex Savings withdrawals credit the next business day. There is no minimum balance.
For investors who also want to put money into S-REITs or ETFs for higher returns, Endowus and Syfe (referral code SRPRFFFCD) are both strong options to consider alongside your cash savings strategy.
Who Should Use Which Platform?
There is no single “best” platform here. The right answer depends on your situation — particularly whether you use CPF or SRS, how much you spend monthly, and how quickly you need to access your money.
| Your Profile | Best Platform | Why |
|---|---|---|
| Trust Bank cardholder with regular spending | Trust Bank | 3.50% bonus rate is highest available with spend condition |
| CPF OA or SRS investor | Endowus | Only platform that accepts CPF/SRS; earns ~3.00% |
| Emergency fund needing quick access | Trust Bank or GXS | Instant/next-day withdrawal vs T+2–4 for Endowus |
| Simple, no-condition savings | GXS or Endowus | Up to 3.00% with no monthly spend requirement |
| SDIC protection priority | Trust Bank or GXS | Bank deposits (not fund units) — S$100k SDIC cover |
Source: The Kopi Notes analysis, Jun 2026. Not financial advice.
Many Singapore investors use a combination: Trust Bank for day-to-day spending and bonus interest on cash reserves, and Endowus for CPF OA and SRS funds where the platform has a unique advantage. For higher-yield options with more risk, explore the best S-REITs in Singapore 2026 which currently yield 5–9% p.a.
You can also use our Singapore retirement calculator to model how your savings rate today translates into retirement income — and whether cash savings alone will be enough.
Referral Codes & Sign-Up Bonuses (Jun 2026)
Use these referral codes when signing up to get a welcome bonus. Codes are subject to availability and platform terms.
Frequently Asked Questions
Is Endowus Cash Smart safe?
Endowus Cash Smart is a unit trust that invests in money market and ultra-short bond funds — it is not a bank deposit. This means it is not covered by SDIC. However, Endowus holds fund assets in trust with a licensed custodian, separate from Endowus’s own balance sheet. The underlying funds (from fund houses like Fullerton, Lion Global) are regulated by MAS. The risk of principal loss is very low but is not zero — it is not the same as putting money in a bank.
Is Trust Bank safe? What is SDIC?
Trust Bank is a licensed bank regulated by MAS. Deposits at Trust Bank are protected by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor across all accounts at the bank. This means if Trust Bank were to fail (extremely unlikely), your deposits up to S$100,000 are government-backed. Trust Bank is backed by Standard Chartered, one of the largest banks in the world.
Can I use CPF OA or SRS money with Trust Bank or GXS?
No. Trust Bank and GXS are bank accounts — they only accept cash deposits. If you want to invest CPF OA funds or SRS funds for a higher return than the default rates, Endowus is the main platform that accepts both. You can invest CPF OA via CPFIS (subject to CPF Board rules) and SRS funds directly through the Endowus platform.
What is the GXS Flex Savings rate right now?
As of June 2026, GXS Flex Savings pays up to 3.00% p.a. with daily interest crediting. The rate can change monthly. GXS periodically runs promotional rates for new money transferred in. Always check the GXS app for the current rate before making large transfers, as the promotional rate may differ from the standard rate.
How do I earn the Trust Bank 3.50% bonus rate?
To earn the bonus interest tier on Trust Bank Savings, you need to meet a monthly card spend threshold using your Trust Visa card. The exact spend requirement is shown in the Trust Bank app and can change. The bonus interest applies only to the first S$100,000 in your savings account. If you do not meet the spend requirement in a given month, you revert to the base rate of 2.50% p.a. for that month.
Should I pick one platform or use all three?
There is no rule against using all three. A common approach: use Trust Bank for day-to-day expenses and to earn bonus interest on your cash reserves (S$50k–S$100k); use GXS as a secondary account for cash that may need quick access; use Endowus for CPF OA and SRS funds where it has a unique advantage. This way, you earn the best rates in each category without over-concentrating in one platform.
How does Endowus Cash Smart compare to a fixed deposit?
A fixed deposit (FD) locks your money for a set period (typically 1–12 months) and gives you a guaranteed rate. As of June 2026, most Singapore bank FDs for 3 months are yielding around 2.5–3.0% p.a. Endowus Cash Smart Ultra currently yields around 3.00% p.a. with no lock-in (T+2 to T+4 liquidity). So for many investors, Endowus Cash Smart Ultra offers comparable yield with more flexibility. However, FDs carry bank deposit insurance (SDIC) while Cash Smart does not.
Are there any referral bonuses for signing up to these platforms?
Yes. Use Endowus referral code 2V343 to get a welcome reward when you invest your first dollar (check the Endowus website for current terms). Use Trust Bank referral code HTWYQP95 for a sign-up bonus (terms on Trust Bank website). Use GXS referral code YONG477 when signing up for a GXS account bonus. All codes and their terms are listed on the respective referral pages at The Kopi Notes.
What happens to my money if Endowus shuts down?
Endowus holds your fund assets in trust with a licensed custodian (HSBC Institutional Trust Services). This means the assets are held separately from Endowus’s own balance sheet. If Endowus were to shut down, the underlying fund units would remain yours and would be transferred to you or another custodian. This is different from a bank deposit where the bank owes you money — with Endowus, you own the fund units directly.
