Savings Account Singapore 2026: Best Rates and Which Bank to Choose
Last updated: June 2026
The best savings accounts in Singapore in 2026 offer tiered interest rates that can reach 3.0–4.5% per annum for customers who meet salary crediting, spending, and investment criteria. Digital banks GXS and MariBank offer simpler high-rate structures without complex bonus requirements, making them attractive for straightforward savers.
Not financial advice. All figures for educational reference only. Data as at June 2026.
Key Takeaways
- Traditional bank savings accounts (DBS Multiplier, OCBC 360, UOB One) offer bonus rates of up to 4.65% but require salary crediting, credit card spend, and/or investment transactions.
- Digital banks MariBank (2.7% p.a.) and Trust Bank (3.5% p.a.) offer competitive rates with minimal conditions — ideal for those who want simplicity.
- All Singapore savings accounts at MAS-regulated banks are protected by SDIC up to S$100,000 per depositor per institution.
- For amounts above S$100,000, spread deposits across multiple institutions to maximise SDIC coverage.
- The highest realistic returns combine a bonus savings account (3–4% on first S$100,000) with T-bills or Singapore Savings Bonds for the remainder of your emergency fund.
What Is a Savings Account?
A savings account is a deposit account at a licensed bank that pays interest on the balance maintained. In Singapore, deposits up to S$100,000 are protected by SDIC (Singapore Deposit Insurance Corporation). Unlike fixed deposits, savings accounts are fully liquid — you can withdraw funds at any time without penalty.
Best Savings Accounts Singapore 2026 Comparison
| Bank/Product | Max Rate (p.a.) | Base Rate | Key Condition | SDIC Protected |
|---|---|---|---|---|
| DBS Multiplier | 4.10% | 0.05% | Salary credit + spend/invest | Yes (up to S$100K) |
| OCBC 360 | 4.65% | 0.05% | Salary + spend + save + insurance | Yes |
| UOB One | 4.00% | 0.05% | Salary + S$500/mo card spend | Yes |
| MariBank (Mari Savings) | 2.70% | 2.70% | No conditions required | Yes |
| GXS FlexiDeposit | 3.68% | 3.18% | Higher rate on locked tranche | Yes |
| Trust Bank (Everyday Account) | 3.50% | 3.50% | No minimum — Standard Chartered backed | Yes |
Source: Bank websites, June 2026. Rates indicative and subject to change.
Open with referral bonuses: MariBank (code: TKNTRUST — S$20 bonus) | GXS Bank (code: YONG477) | Trust Bank (code: HTWYQP95 — S$50 bonus)
Worked Example: Maximising Savings Interest
Mei Lin earns S$5,000/month and wants to maximise interest on her S$50,000 emergency fund. Strategy: Credit salary to UOB One (4.00% with S$500/month card spend) earns approximately S$2,000/year. Keep overflow savings in MariBank at 2.70%. Blended rate approximately 3.7% — S$1,850/year more than a standard 0.05% bank rate.
The Bottom Line
For Singapore savers in 2026, use a bonus savings account (DBS Multiplier, OCBC 360, or UOB One) to earn 3–4% if you meet the conditions, and keep a secondary account with MariBank or Trust Bank for no-fuss high interest. Always keep savings under S$100,000 per institution for full SDIC protection. For longer-term goals, supplement with Singapore Savings Bonds or T-bills.