GXS Bank, Trust Bank, and MariBank are Singapore’s three digital banks — all SDIC-insured, all mobile-first, and all competing for your savings. In mid-2026, Trust Bank leads with the highest potential rate at 2.40% p.a. (with salary credit and card spending), GXS Bank offers 1.08% on Saving Pockets with no conditions (up to 1.6% on Boost Pocket with lock-in), and MariBank pays 0.88% flat with zero requirements. Your choice depends on how much you’re parking and whether you want a debit card.
This is an editorial comparison. Not financial advice. All figures are for educational reference only. Data as at July 2026 unless noted.
- GXS Bank pays 1.08% on Saving Pockets (up to 1.6% on Boost Pocket) with no conditions — solid for cash parking up to S$95,000
- MariBank offers 0.88% flat with no hoops — simplest option, with a S$100,000 cap. Now also offers Mari Debit Card, Mari Credit Card (unlimited cashback, no annual fee), and Mari Fixed Deposit
- Trust Bank has the highest deposit cap (S$1,200,000) and a useful debit card, but its base rate is just 0.05% without meeting salary and spend requirements
Quick Verdict
This three-way comparison gets asked on r/singaporefi nearly every week. The answer is simpler than you’d think.
GXS Bank offers a no-conditions rate. 1.08% p.a. on Saving Pockets (up to 1.6% on Boost Pocket) with no conditions — no salary credit, no card spend, no GIRO. Just deposit money and earn. The catch: S$95,000 cap.
MariBank is the simplest. 0.88% flat rate, no conditions, no hoops. Perfect for people who just want to park cash and forget about it. S$100,000 cap.
Trust Bank is the most “bank-like”. It has a credit card (linked to NTUC), a debit card, and the highest deposit cap at S$1,200,000. But without meeting salary and spend conditions, you earn a pitiful 0.05%.
Interest Rate Comparison
| Rate Component | GXS Bank | Trust Bank | MariBank |
|---|---|---|---|
| Base rate (no conditions) | 1.08% | 0.05% | 0.88% |
| With salary credit | N/A (no bonus tiers) | ~1.50% | N/A (no bonus tiers) |
| With salary + card spend | N/A | ~2.40% | N/A |
| Maximum rate (Saving Pockets) | 1.08% | 2.40% | 0.88% |
| GXS Boost Pocket (with lock-in) | Up to 1.6% | N/A | N/A |
| Deposit cap for best rate | S$95,000 | S$1,200,000 | S$100,000 |
Source: GXS.com.sg, TrustBank.sg, MariBank.sg — as at July 2026
The striking thing about this comparison is that digital bank rates have normalised significantly since 2023. GXS and MariBank are still completely passive — you deposit and earn — but their rates (1.08% and 0.88%) are now lower than Trust Bank’s conditional rate of 2.40%. Trust Bank requires salary credit and spending conditions, making it function more like a traditional bank’s bonus savings account, but it now offers the highest returns among the three.
Features & Products
GXS Bank
GXS Bank is backed by Grab and Singtel. Beyond savings, it offers FlexiLoan (personal loans via the Grab app), Boost Pockets (time deposit-like), and a Visa debit card. GXS FlexiLoan interest rates are competitive for small personal loans. The Grab integration means you can use GrabPay and GXS together for a seamless experience. Use a GXS referral code for sign-up bonuses.
Trust Bank
Trust Bank is backed by Standard Chartered and FairPrice Group (NTUC). It offers the most traditional banking experience among the three — Mastercard debit card, a credit card linked to NTUC rewards (earn LinkPoints on FairPrice purchases), and a generous deposit cap of S$1,200,000. It’s the only digital bank that accepts foreigners. Sign up with a Trust Bank referral code for bonus rewards.
MariBank
MariBank is owned by Sea Group (Shopee’s parent). It’s no longer the stripped-down option it once was. Beyond its savings account and personal loans, MariBank now offers a Mari Debit Card, Mari Credit Card (unlimited cashback, no annual fee), and Mari Fixed Deposit (with promotional rates). The appeal of its savings account remains the 0.88% flat rate with zero conditions, though this has come down significantly from its earlier 2.68% rate. MariBank has evolved into a more complete digital banking option. Get extra cashback with a MariBank referral code.
Deposit Caps (This Matters More Than Rates)
The most overlooked factor in digital bank comparisons isn’t the interest rate — it’s how much money you can actually put in.
GXS caps at S$95,000 and MariBank at S$100,000. That means if you have more than S$100,000 in savings, you’d need to split it across multiple banks.
Trust Bank, with its S$1,200,000 cap, solves this — but only if you meet the conditions for the higher rate. At the base rate of 0.05%, you’d earn just S$50/year on S$100,000. That’s worse than a traditional DBS savings account.
For most Singaporeans with S$20,000–S$95,000 in savings, GXS offers a reasonable no-conditions rate. For amounts above S$95,000, consider a multi-bank strategy — perhaps GXS (first S$95,000) + MariBank (next S$100,000) + a traditional bank for the rest.
Who Backs Each Bank?
All three digital banks are licensed by MAS and your deposits are insured by SDIC up to S$100,000 — the same protection you get at DBS, OCBC, or UOB.
| Bank | Parent / Backer | Licence Type | Key Risk Factor |
|---|---|---|---|
| GXS Bank | Grab + Singtel (60/40) | Digital Full Bank | Grab’s profitability journey |
| Trust Bank | Standard Chartered + NTUC | Full Bank | StanChart is a 170-year-old bank — low risk |
| MariBank | Sea Group (Shopee, Garena) | Digital Full Bank | Sea’s volatile earnings history |
Source: MAS Financial Institutions Directory, company filings — as at July 2026
Trust Bank has the most conservative backing — Standard Chartered is a global bank with 170 years of history. GXS and MariBank are backed by tech companies (Grab/Singtel and Sea respectively), which carry slightly more business risk. However, SDIC insurance means your deposits are protected regardless of the parent company’s fortunes.
Earnings Comparison by Balance
| Balance | GXS (1.08%) | Trust Bank (0.05% base) | Trust Bank (2.40% max) | MariBank (0.88%) |
|---|---|---|---|---|
| S$10,000 | S$108 | S$5 | S$240 | S$88 |
| S$25,000 | S$270 | S$12.50 | S$600 | S$220 |
| S$50,000 | S$540 | S$25 | S$1,200 | S$440 |
| S$75,000 | S$810 | S$37.50 | S$1,800 | S$660 |
Source: Calculated from published rates, July 2026. Trust Bank shows both base rate (no conditions) and maximum (with salary + spend). GXS column uses the 1.08% Saving Pockets rate (no lock-in). GXS Boost Pocket offers up to 1.6% with lock-in periods — not shown in this table.
The numbers tell a stark story. At S$50,000, Trust Bank’s best rate earns you S$1,200 (with conditions) versus GXS’s S$540 (no conditions) or S$25 at Trust Bank’s base rate. Trust Bank now offers the highest rate if you meet its conditions.
If you’re using digital banks purely to earn interest on idle cash — which is what most people do — Trust Bank’s 2.40% (with conditions) beats both GXS and MariBank at every balance up to its S$1,200,000 cap. Use a retirement calculator to see how digital bank savings fit into your long-term plan.
Referral Bonuses
All three digital banks offer sign-up bonuses. These change monthly, so check the latest before opening your account.
Use our referral codes for the best current bonuses: GXS Bank referral | Trust Bank referral | MariBank referral
The sign-up bonuses are a nice one-time perk, but don’t let them sway your decision — the ongoing interest rate difference matters far more over a year than a one-time S$10–S$20 bonus.
TKN’s Take
Open all three. Seriously. They’re all free, take 5 minutes to set up, and have no fees.
The optimal strategy for most Singaporeans in 2026: consider Trust Bank if you can meet its salary and spend conditions (earning up to 2.40%), park up to S$95,000 in GXS (earning 1.08% no conditions), and use MariBank (earning 0.88% on up to S$100,000) for additional savings. If you have more than S$195,000 in cash across GXS and MariBank, the excess should go into a Singapore Savings Bond or T-bills rather than sitting in any savings account.
If you can only open one, choose Trust Bank if you can meet its bonus conditions (up to 2.40%), or GXS Bank for its no-conditions 1.08% rate. Rates across all three digital banks have come down significantly from 2023–2024 highs as SORA normalised.
Frequently Asked Questions
Which digital bank has the highest interest rate in Singapore?
Are digital bank deposits safe in Singapore?
Can I use GXS Bank or MariBank as my main bank?
Can foreigners open a digital bank account in Singapore?
What happens if I exceed the deposit cap at GXS or MariBank?
Should I split my savings across all three digital banks?
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.
