Trust Bank Singapore Review 2026: Is It Worth Signing Up?

An honest look at Trust Bank’s interest rates, features, cashback rewards, and whether it belongs in your Singapore banking toolkit — plus how to maximise your sign-up bonus.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before making any financial decisions.

Trust Bank launched in 2022 as Singapore’s first digital bank backed by a major supermarket group — a joint venture between Standard Chartered and FairPrice Group. Since then, it has grown rapidly, attracting over a million customers with its high-yield savings account, cashback credit card, and seamless app experience.

But is Trust Bank actually worth using in 2026? In this review, we break down the interest rates, features, fees, and real-world experience to help you decide whether to open an account — and how to earn your sign-up bonus.

Table of Contents

What Is Trust Bank Singapore?

Trust Bank is a digital bank licensed by the Monetary Authority of Singapore (MAS) under the Digital Full Bank framework. Deposits are protected up to S$75,000 under the Singapore Deposit Insurance Scheme (SDIC), giving you the same peace of mind as traditional banks.

The bank is a joint venture between Standard Chartered (a globally established bank with 160+ years of history) and NTUC Enterprise / FairPrice Group (Singapore’s largest supermarket cooperative). This backing makes Trust Bank significantly more credible than standalone fintech startups.

Key facts about Trust Bank Singapore (as at April 2026):

• Fully MAS-licensed digital bank
• SDIC-insured deposits up to S$75,000
• Over 1 million customers in Singapore
• No minimum balance required
• No monthly fees
• Integrated with LinkPoints for FairPrice shoppers

Trust Bank Savings Account Interest Rates 2026

Trust Bank offers a tiered interest rate structure on its savings account. Rates are boosted when you meet certain monthly spending criteria on the Trust Bank credit card or deposit salary. As at April 2026, the headline rates are:

Note: Rates are subject to change. Always verify current rates on the Trust Bank app before making decisions.

To unlock the bonus rate, you typically need to spend a minimum amount on your Trust Bank Visa credit card each month. This makes Trust Bank most rewarding for those who can consolidate their daily spending — particularly FairPrice shoppers who already earn LinkPoints.

Trust Bank Credit Card: Cashback & Rewards

The Trust Bank Visa credit card is the centrepiece of the Trust ecosystem. It is issued with no annual fee and is linked directly to your savings account — simplifying day-to-day money management.

Key credit card features:

• Cashback on FairPrice purchases: Earn cashback on groceries at FairPrice, Cheers, Unity, and Kopitiam
• LinkPoints integration: Earn NTUC LinkPoints on every eligible transaction, redeemable at FairPrice Group outlets
• No annual fee: Perpetually waived — no need to call in and request a waiver
• Spending boosts savings rate: Monthly card spend unlocks the bonus interest tier on your savings account
• Foreign currency transactions: 3.5% fee — best to use a dedicated travel card for overseas spending

For Singaporeans who shop regularly at FairPrice supermarkets or dine at Kopitiam, the card delivers genuine daily value. The combination of cashback + LinkPoints + boosted savings rate creates a compelling ecosystem for the typical Singaporean household.

Trust Bank vs Competitors: MariBank, GXS, POSB (2026)

How does Trust Bank stack up against other digital and traditional banks in Singapore? Here’s a quick comparison of the key savings and banking options available in 2026:

Rates as at April 2026 — subject to change. Check each bank’s app for the latest figures.

Trust Bank sits comfortably in the mid-range for savings rates. Its edge comes not from having the highest absolute rate, but from simplicity — no salary crediting requirement, no complex multi-category conditions. If you shop at FairPrice regularly, Trust Bank’s ecosystem rewards make it a practical first or second digital bank account. For pure savings rate, MariBank currently leads among Singapore’s digital banks.

Pros and Cons of Trust Bank Singapore

What we like:

• ✅ MAS-licensed digital full bank — not a neobank or e-wallet
• ✅ SDIC-insured up to S$75,000 — full deposit protection
• ✅ Backed by Standard Chartered + FairPrice Group — credible joint venture
• ✅ No minimum balance, no monthly fees
• ✅ Competitive savings rate for everyday FairPrice shoppers
• ✅ No annual fee on credit card — perpetually waived
• ✅ Instant account opening via app (MyInfo / Singpass)
• ✅ LinkPoints rewards for FairPrice ecosystem users

What to watch out for:

• ⚠️ Savings rate requires monthly card spend to unlock the bonus tier
• ⚠️ Higher FX fees (3.5%) — not ideal for overseas travel spending
• ⚠️ Pure savings rate is lower than MariBank or some fixed deposits
• ⚠️ Ecosystem rewards mainly benefit FairPrice shoppers — less value if you don’t shop there

Bottom line: Trust Bank is an excellent second account for Singaporeans who shop at FairPrice or want a simple, no-fee digital bank account. It’s not a replacement for traditional banks but works well alongside them. For investors looking to maximise idle cash, pairing Trust Bank with a retirement calculator to plan your total savings allocation can be worthwhile.

Trust Bank Referral Code & Sign-Up Bonus 2026

Trust Bank offers a referral programme where both the referrer and the new customer earn rewards. If you’re signing up for the first time, using a referral code can earn you bonus cash or LinkPoints on top of your standard welcome offer.

How to use a Trust Bank referral code:

1. Download the Trust Bank app from the App Store or Google Play
2. Tap “Sign Up” and complete your MyInfo / Singpass verification
3. Enter the referral code when prompted during onboarding
4. Complete the qualifying action (e.g., first spend or deposit) to receive your bonus

Check the latest available referral code and current sign-up bonus details on our dedicated page:

Other Singapore Platforms Worth Exploring in 2026

If you’re building your Singapore financial toolkit, banking is just one piece. Here are platforms our readers find valuable — each with active referral programmes:

• Endowus — MAS-licensed digital wealth manager for CPF, SRS, and cash investing. Excellent for long-term index fund and retirement investing. One of the lowest-cost platforms for CPF-OA investing in Singapore.
• Syfe — Robo-advisor offering diversified portfolios (Equity100, Core Equity, REIT+ and Income+). No minimum investment and fee-waiver periods for new users. Popular with dividend investors building passive income.
• FSMOne — Online brokerage and fund supermart with access to SGX stocks, ETFs, unit trusts, and bonds. Good for self-directed investors who want low brokerage fees on Singapore-listed securities including S-REITs.
• MariBank — Sea Group’s digital bank (MAS full banking licence). MariSave currently offers some of the highest flexible savings rates among Singapore’s digital banks — a strong complement to Trust Bank for yield-chasing savers.

For a broader look at how to allocate idle cash across Singapore’s banking and investment platforms, see our guide to best robo advisors in Singapore 2026 and our CPF investment strategy guide.

Final Verdict: Is Trust Bank Singapore Worth It in 2026?

Yes — with the right expectations.

Trust Bank is one of the most credible digital banks in Singapore, backed by Standard Chartered and FairPrice Group, fully MAS-licensed, and SDIC-insured. For Singaporeans who shop at FairPrice or want a simple, fee-free bank account with competitive savings rates, Trust Bank is a no-brainer addition to your financial toolkit.

It is best viewed as a complementary account rather than a primary bank. Pair it with:

• A traditional bank for salary crediting and mortgage (to unlock multiplier rates)
• MariBank or GXS for highest-yield flexible savings
• Endowus or Syfe for investing your CPF and long-term wealth
• FSMOne for self-directed brokerage and S-REIT investing

Singapore’s digital banking landscape rewards those who know how to layer accounts strategically. Trust Bank earns its place in that stack — especially if you use the referral code to capture the sign-up bonus before starting.

→ Claim your Trust Bank referral code and sign-up bonus here

Frequently Asked Questions