Not financial advice. All figures are for educational reference only. Interest rates verified against each bank’s official rate page as at August 2026. Rates can change without notice.

Singapore now has three MAS-licensed digital banks — MariBank, Trust Bank, and GXS Bank — and each one takes a fundamentally different approach to winning your deposits. MariBank keeps things dead simple with a single unconditional rate. Trust Bank gamifies savings with bonus tiers and a cashback card. GXS offers multiple “pockets” with different lock-in periods. This guide puts all three side by side so you can decide which one deserves your money first — or whether the real answer is to use all three.

Table of Contents

Quick Comparison Table

Interest Rates Compared (August 2026)

MariBank: Simple and Unconditional

MariBank‘s Mari Savings Account pays 0.88% p.a. on your entire balance — no salary crediting, no minimum spend, no hoops. Interest is calculated and credited daily. New users get a welcome bonus of +1.60% p.a. for the first 30 days (capped at S$100,000), bringing the effective rate to 2.88% p.a. during that period. ShopeeVIP subscribers earn an additional 0.40% p.a. on top of the base rate.

This is MariBank’s biggest selling point: you deposit money and it earns interest immediately, no questions asked. For anyone who’s tired of jumping through hoops for bonus interest at traditional banks, MariBank is a breath of fresh air.

Trust Bank: Gamified Bonus Tiers

Trust Bank‘s savings account starts at a base rate of just 0.05% p.a. — effectively zero. The real rate only kicks in when you meet bonus criteria under one of three plans (Flex, Signature, or Zen). Meet any three criteria and you unlock up to 2.40% p.a. on balances up to S$1.2 million.

Typical bonus criteria include crediting your salary, spending S$500/month on the Trust credit card, and maintaining a minimum savings balance. If you’re already doing these things, Trust Bank’s effective rate is competitive. If you’re not willing to jump through the hoops, you’re stuck at 0.05%.

GXS Bank: Multiple Pockets, Different Rates

GXS takes a layered approach. The main savings account pays 0.88% p.a. (matching MariBank’s base). Savings Pockets pay 1.08% p.a., and the 12-month Boost Pocket offers 1.60% p.a. with a lock-in. If you’re willing to lock money away and use multiple pockets, you can earn up to 3.48% p.a. on portions of your savings.

GXS lowered its Main Account rate from 1.08% to 0.88% in March 2026, so the unconditional rate is now equal to MariBank. The difference is that GXS offers higher rates if you’re willing to accept lock-in periods through Boost Pockets.

Safety & Regulation: Are Digital Banks Safe?

All three digital banks hold a Digital Full Bank licence issued by the Monetary Authority of Singapore (MAS). This means they are subject to the same regulatory standards as DBS, OCBC, and UOB — including capital adequacy requirements, liquidity ratios, and anti-money laundering compliance.

All three are members of the Singapore Deposit Insurance Corporation (SDIC). Your Singapore dollar deposits are insured up to S$100,000 per depositor, per bank. This is the same protection you’d get with any traditional bank in Singapore.

The key differences in backing:

• MariBank — backed by Sea Group (NYSE-listed parent of Shopee and SeaMoney)
• Trust Bank — a joint venture between Standard Chartered (one of the world’s largest banks) and FairPrice Group (NTUC’s retail arm)
• GXS Bank — a joint venture between Grab (NASDAQ-listed) and Singtel (SGX-listed)

For a deeper dive into MariBank’s safety credentials, see our full guide: Is MariBank Safe? Security, SDIC Protection & MAS Regulation Explained.

Cards & Cashback

Trust Bank — The Cashback Card Leader

Trust Bank has the strongest card offering of the three. The Trust Cashback Card earns 1% cashback on all local spending and 0.5% on overseas/foreign-currency transactions (reduced from 1% in March 2026). Each quarter, you pick one preferred category and earn up to 15% cashback on that category, capped at S$250 per quarter.

There’s no annual fee, no minimum income requirement, and cashback is credited automatically. If you’re looking for a no-frills cashback card, Trust Bank is hard to beat.

MariBank — Virtual Card Only

MariBank offers a virtual Visa card for online and contactless payments, but doesn’t have a standalone credit card product with cashback rewards comparable to Trust Bank. The card is primarily a payment tool tied to your savings account.

GXS — Debit Card

GXS offers a debit card linked to your savings account. It functions well for everyday payments but doesn’t offer a dedicated cashback or rewards programme.

Winner for cards: Trust Bank, by a wide margin. If you want a credit card with meaningful cashback, open Trust Bank for the card and use MariBank or GXS for the higher base savings rate.

Who Should Open Which Bank?

Open MariBank first if:

• You want the highest unconditional base rate with zero effort
• You value daily interest crediting
• You don’t want to meet any spending or salary conditions
• You’re a Shopee user and can benefit from the ShopeeVIP bonus

→ Get a MariBank referral code here

Open Trust Bank first if:

• You want a strong cashback credit card with no annual fee
• You already credit your salary and spend regularly on a card
• You shop at FairPrice regularly (additional benefits)
• You’re comfortable meeting 3 bonus criteria to unlock the full 2.40% rate

→ Get a Trust Bank referral code here

Open GXS first if:

• You want the flexibility of multiple savings pockets with different rates
• You’re willing to lock money into Boost Pockets for a higher rate
• You’re a Grab or Singtel user in the ecosystem

The best answer? Open all three. They’re free, take minutes to set up, and you can spread your savings across all three to maximise coverage and returns. For a detailed guide on this strategy, read our article: How to Stack MariBank + Trust Bank + GXS for Maximum Interest in 2026.

The Verdict

If you’re only opening one digital bank, MariBank offers the best “set it and forget it” savings rate at 0.88% p.a. with absolutely no conditions. Trust Bank wins on card rewards and can deliver a higher savings rate (2.40% p.a.) if you’re willing to meet the criteria. GXS is the best option for anyone willing to use lock-in pockets for higher yields.

But the real optimisation play is to use all three: park your liquid emergency fund in MariBank’s unconditional 0.88%, credit your salary to Trust Bank to unlock the 2.40% bonus and use the cashback card, and lock any surplus into GXS Boost Pockets for 1.60%. All three are SDIC-insured up to S$100,000 each — meaning you can protect up to S$300,000 across the three banks.

Frequently Asked Questions