Trust Bank Interest Rate 2026: How to Earn Up to 2.40% p.a.

A complete breakdown of Trust Bank’s three savings plans, bonus interest conditions, and how it compares to GXS and MariBank.

Trust Bank offers a savings account interest rate of up to 2.40% p.a. on balances up to S$1.2 million, as at June 2026. You choose from three plans — Flex, Signature, or Zen — and earn bonus interest by meeting conditions like card spending, salary crediting, or maintaining a minimum balance. Trust Bank is backed by Standard Chartered and FairPrice Group, with SGD deposits protected under the SDIC scheme up to S$100,000.

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

Table of Contents

What Is Trust Bank?

Trust Bank is a digital bank in Singapore launched in September 2022 through a partnership between Standard Chartered and FairPrice Group. It operates under Standard Chartered’s full banking licence, which means it is regulated by the Monetary Authority of Singapore (MAS) just like DBS, OCBC, or UOB.

Unlike the four digital bank licence holders (GXS, MariBank, Green Link Digital Bank, and ANEXT Bank), Trust Bank piggybacks on Standard Chartered’s existing licence. In practice, this makes no difference to you as a depositor — your money is equally protected.

Trust Bank offers a savings account, a credit card (the Trust Card), personal loans, and insurance products through FairPrice’s NTUC Income tie-up. As at June 2026, Trust Bank has over 900,000 customers in Singapore, making it the most widely adopted digital-only bank in the country.

For investors who are building a broader financial strategy, it is worth comparing how Trust Bank’s savings rate stacks up against instruments like Singapore T-bills or Singapore Savings Bonds, which currently offer different risk-return profiles.

Trust Bank Interest Rate Breakdown

The Trust Bank savings account interest rate works on a base-plus-bonus structure. Here is how it breaks down as at June 2026:

Source: Trust Bank official website, June 2026

The base rate of 0.05% is what you earn by simply having money in the account with no effort. The real value comes from stacking bonus categories. Each fulfilled bonus category adds roughly 0.78% p.a. in additional interest. Meet three categories, and you hit the full 2.40%.

One important detail: the S$1.2 million cap is extremely generous. Most competing savings accounts cap bonus interest at S$75,000 to S$100,000. For anyone keeping a larger cash position, Trust Bank’s high ceiling is a significant advantage.

The Three Savings Plans Explained

Trust Bank introduced three savings plans in 2024 to give you more flexibility in how you earn bonus interest. You pick one plan at a time and can switch between them every month through the Trust app.

Flex Plan

The Flex Plan lets you choose any 3 bonus interest categories from a list that includes card spending, salary credit, saving a minimum amount, bill payments, and insurance purchases. This plan suits you if your spending and income patterns change month to month — you pick the 3 categories that match your current situation.

For example, if you spend S$500 on the Trust Card, credit your salary, and maintain a growing balance, you unlock all three bonus tiers for 2.40% p.a. that month.

Signature Plan

The Signature Plan is the default plan if you do not choose one. It locks in three specific categories: salary credit, card spending, and saving. If your routine already involves crediting your salary and spending on the card, this is the simplest path to the full 2.40%.

The Signature Plan works best for salaried employees who have a predictable monthly income and regular card spending. However, if you are self-employed or your income is irregular, you might struggle to hit the salary credit condition every month.

Zen Plan

The Zen Plan pays a flat 0.50% p.a. with absolutely no conditions required. You do not need to spend on the card, credit your salary, or do anything at all. Just deposit your money and earn 0.50%.

While 0.50% is low compared to the other plans, it is still 10 times the base rate. The Zen Plan makes sense if you want a completely passive savings account and you do not use the Trust Card regularly. Think of it as a slightly better alternative to leaving money in a traditional bank’s savings account at 0.05%.

How to Maximise Your Trust Bank Interest Rate

Getting the full 2.40% p.a. requires some planning. Here is the most practical approach for most Singaporeans:

Step 1: Choose the right plan. If you have a regular salary and spend on the Trust Card, the Signature Plan is your simplest route. If your income varies or you prefer flexibility, go with the Flex Plan and pick the 3 easiest categories for your lifestyle.

Step 2: Credit your salary. Set up a GIRO arrangement with your employer to credit your salary directly into Trust Bank. There is no minimum salary amount — any salary credit counts. This alone unlocks one bonus tier.

Step 3: Spend S$500 on the Trust Card. The card spending threshold is S$500 per calendar month. This includes groceries at FairPrice (where you also earn LinkPoints), dining, transport, and online purchases. For most households, reaching S$500 in monthly card spending is realistic.

Step 4: Grow your balance. Under the saving category, you need your end-of-month balance to be higher than the previous month. Even a S$1 increase counts. If you are regularly crediting your salary and not withdrawing everything, this happens naturally.

A practical worked example: if you keep S$50,000 in Trust Bank and hit all 3 bonus categories, you earn roughly S$1,200 per year in interest. That same S$50,000 in a traditional bank savings account at 0.05% would earn you just S$25. The difference is significant.

For context, those looking at other ways to grow their savings might consider platforms like Syfe for automated investing, or instruments like CPF investment options for longer-term growth.

Trust Bank vs GXS vs MariBank: Which Digital Bank Pays the Most?

Singapore has three main consumer-facing digital banks: Trust Bank, GXS Bank, and MariBank. Each takes a different approach to savings interest. Here is how they compare as at June 2026:

Source: Official bank websites, June 2026. Rates subject to change.

The verdict: If you can meet the bonus criteria (salary credit + S$500 card spend + growing balance), Trust Bank’s 2.40% is competitive. However, if you want a completely passive approach, MariBank’s 2.68% with zero conditions is hard to beat. GXS sits in between but its maximum of 1.60% requires locking your money into a Boost Pocket.

For a deeper look at MariBank, check out our MariBank review.

Many savvy Singaporeans split their cash across multiple digital banks to maximise returns. For example, you could keep your primary salary account at Trust Bank to earn 2.40%, while parking additional savings at MariBank for a hassle-free 2.68%.

Is Trust Bank Safe?

This is one of the most common questions about Trust Bank, and the short answer is yes. Here is why:

MAS-regulated: Trust Bank operates under Standard Chartered Bank Singapore’s full banking licence. Standard Chartered has been in Singapore since 1859 and is one of the most established international banks in the country. Trust Bank is subject to the same regulatory requirements as any major bank.

SDIC protection: Your Singapore dollar deposits at Trust Bank are insured by the Singapore Deposit Insurance Corporation (SDIC) for up to S$100,000 per depositor. This is the same protection you get at DBS, OCBC, UOB, or any other SDIC member bank.

Security features: Trust Bank uses bank-grade encryption, biometric authentication (face ID and fingerprint), and sends instant transaction alerts for every purchase. The app monitors transactions around the clock and flags suspicious activity automatically.

The key thing to understand: Trust Bank is not a fintech startup operating in a regulatory grey area. It is a fully regulated bank with the same deposit protection as any traditional bank in Singapore. The fact that it is “digital-only” (no physical branches) does not make it less safe — it just means lower operating costs, which is partly why it can offer higher interest rates.

How to Sign Up for Trust Bank

Opening a Trust Bank account takes about 5 minutes. You need your Singpass and a valid Singapore mobile number. Here is the process:

Step 1: Download the Trust Bank app from the App Store or Google Play Store.

Step 2: Open the app and tap “Sign Up”. Enter the referral code HTWYQP95 when prompted to get a sign-up bonus.

Step 3: Verify your identity via Singpass (MyInfo). This pre-fills your personal details automatically — no manual data entry needed.

Step 4: Set up your account PIN and biometric login. Your savings account is created instantly, and you can start transferring money in right away via PayNow or bank transfer.

Step 5: Choose your savings plan (Flex, Signature, or Zen) and apply for the Trust Card if you want to earn bonus interest through card spending.

If you are also considering the Trust Card for cashback and bonus interest, our Trust Bank credit card review covers the card’s features, cashback categories, and whether it is worth applying for.

Who Should Use Trust Bank?

Trust Bank is ideal if you:

You have a regular salary that you can credit into the account every month. You spend at least S$500 per month on a credit card and are happy to shift that spending to the Trust Card. You want the convenience of a fully digital bank with no need to visit branches. You shop at FairPrice regularly and want to stack LinkPoints rewards on top of interest earnings.

Consider alternatives if:

You do not want to meet any spending or salary conditions at all — MariBank pays 2.68% with no hoops. You prefer locking your money away for a higher guaranteed return — look at Singapore T-bills or fixed deposits instead. You are an investor looking for higher long-term growth — platforms like Syfe or direct ETF investing through brokers may deliver better returns over a 5 to 10 year horizon.

For a broader view of where to park your money in Singapore, our retirement planning calculator can help you model different savings and investment scenarios based on your age, income, and financial goals.

Not financial advice. The interest rates and features described above are accurate as at June 2026 but may change. Always check the latest rates on Trust Bank’s official website before making financial decisions.

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