MariBank and GXS Bank are both SDIC-insured Singapore digital banks, but they solve different problems: MariBank currently pays up to 2.88% p.a. on flexible cash for ShopeeVIP/new customers, while GXS’s 12-month Boost Pocket locks in 1.60% p.a. plus a S$10-per-S$10k “SG61” cashback promo running until 18 August 2026. Splitting your cash buffer between both also doubles your SDIC coverage to S$150,000.

Not financial advice. All figures are for educational reference only. Data as at August 2026 unless noted.

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MariBank vs GXS: Quick Look

Before we get into the combo strategy, here’s how the two banks stack up on the numbers that matter most: what they pay you, and what strings are attached.

Source: MariBank.sg, GXS.com.sg — rates as at August 2026, correct at time of writing.

Why Split Cash Between Two Digital Banks?

Every previous combo we’ve covered on The Kopi Notes pairs an investing platform (like Endowus or Syfe) with a cash sleeve. MariBank and GXS are both cash-only digital banks, so the logic here is different. There are two reasons to hold both instead of parking everything in one.

First, interest rate optimisation. MariBank’s promo rate is high but liquid — good for cash you might need next month. GXS’s Boost Pocket pays less per year but locks in a guaranteed rate for money you know you won’t touch for 12 months. Using both lets you capture the best rate for each portion of your cash.

Second, insurance diversification. The Singapore Deposit Insurance Corporation (SDIC) insures deposits up to S$75,000 per depositor, per Scheme member bank. MariBank and GXS are separately licensed digital full banks and separate SDIC members. That means splitting a S$100,000+ cash buffer across both banks — instead of concentrating it in one — pushes your total protected coverage up to S$150,000.

The MariBank Side: Liquid Promo Rate

The Mari Savings Account pays a base rate of 0.88% p.a., credited daily, with no minimum deposit and no salary crediting required. That’s already competitive for a fully liquid account.

Since 20 July 2026, MariBank has been running a boosted rate of up to 2.88% p.a. for ShopeeVIP subscribers and new MariBank customers, applied to balances up to S$100,000. This is the highest liquid rate among Singapore’s digital banks right now — you can withdraw anytime with no lock-in and no penalty.

That’s why MariBank is the better home for your “might need it soon” cash: an emergency fund, a house deposit you’re saving toward, or money you’re parking between investment moves.

The GXS Side: Locked Boost Pocket + SG61

The GXS Savings Account also pays 0.88% p.a. on flexible balances with no conditions. But GXS’s real strength is Boost Pockets — you can lock funds for a fixed tenure (1, 3, 4, 8 or 12 months) to earn up to 1.60% p.a., made up of 0.88% p.a. base interest credited daily plus up to 0.72% p.a. bonus interest credited on maturity. You can open up to 5 Boost Pockets, with a combined limit of S$95,000.

Right now, GXS is running a National Day-themed promo called “SG61”. If you deposit into a 12-month Boost Pocket named SG61, GXS pays S$10 cashback for every S$10,000 you deposit — on top of the 1.60% p.a. locked rate. This promo is valid until 18 August 2026, so if you want it, you have a narrow window left.

GXS is the better home for the part of your cash buffer you’re confident you won’t need for a year — an amount above your emergency fund, or savings earmarked for something 12+ months out.

Worked Example: Splitting S$20,000

Say you have S$20,000 in cash you want to keep safe but working harder than a 0.05% p.a. bank current account. Here’s how a 50/50 split between MariBank and GXS’s SG61 Boost Pocket would play out over one year, versus leaving it all in a single non-promo account.

Source: MariBank.sg, GXS.com.sg promo terms, August 2026. Illustrative only — actual returns depend on eligibility, deposit timing and whether promo conditions are met.

The combo captures roughly S$282 more in a single year than parking the same amount in one account at the base rate — without giving up SDIC protection, since both amounts stay under the S$75,000 per-bank limit.

How to Set It Up

Opening both accounts takes about 10 minutes combined, all done through each bank’s app with Singpass MyInfo.

MariBank: Download the MariBank app, sign up with Singpass, and fund your account. Check if you qualify as a ShopeeVIP subscriber or new customer for the boosted 2.88% p.a. rate — the app shows your eligibility and current rate tier once you’re signed up.

GXS Bank: Download the GXS app, sign up with Singpass, and fund your Savings Account. To catch the SG61 promo, create a new Boost Pocket, set the tenure to 12 months, and name it exactly “SG61” before depositing — GXS matches the promo by Boost Pocket name.

Both banks let you use a referral code at sign-up for a welcome bonus on top of the rates above.

Who This Combo Is Best For

This two-bank split isn’t for everyone. It makes the most sense if you already have more than S$20,000 in cash sitting idle, and you can clearly separate that cash into “might need soon” and “won’t touch for a year” buckets.

If your entire cash buffer is under S$10,000, the extra effort of managing two banking apps probably isn’t worth the marginal interest gained — a single account at the best available promo rate will get you most of the benefit with less admin. The combo starts paying off once your balance grows large enough that SDIC diversification and rate-stacking both matter: typically once you’re holding S$30,000–S$75,000 or more in cash.

It also suits Singaporeans who are already comfortable managing multiple digital bank apps — if you already use one of MariBank, GXS, Trust Bank, or another player for daily spending, adding a second account for savings specifically is a small step, not a new habit to build.

Risks and Limitations

This is a savings strategy, not an investing one — don’t expect these rates to beat inflation by much, and don’t expect them to last. Promo rates are temporary by nature. MariBank’s 2.88% p.a. tier and GXS’s SG61 cashback are both time-limited offers that banks can adjust or withdraw once the promotional period ends.

Locking money into a GXS Boost Pocket means you can’t touch it for 12 months without breaking the tenure early, which usually means forfeiting the bonus interest. Only lock money you’re genuinely confident you won’t need.

Neither MariBank nor GXS accepts CPF or SRS funds — this combo works for cash savings only. If you’re looking to put CPF-OA or SRS money to work, see our guide on CPF investment strategy instead.

Finally, SDIC coverage protects your deposit if the bank fails — it doesn’t protect you from inflation or opportunity cost. Cash sitting at 1–3% p.a. still loses purchasing power over time; treat this as your emergency fund and short-term savings layer, not your whole net worth strategy.

Frequently Asked Questions