**Which bank gives highest interest rate in Singapore?**

Tired of getting 0.05% p.a. interest? It is time to look for **high-interest savings account Singapore in 2019**.

There are lots of banks in Singapore offering savings account of different interest rates. We made it simpler for you by listing them below for you to compare.

As you can see, the rates being offered now are **much competitive** than in the past years. Even the fixed deposit rates too!

It is important to do some homework to seek out the one that offers the **best interest rate** so that you do not lose out on the potential interest which you could have earned. Even though it is not much, it is vital that you choose one that gives you high interest.

Currently**, OCBC 360**, **UOB One,** **Standard Chartered Bonus$aver** and **BOC SmartSaver** gives you a higher interest if you meet their **multiple requirements** for bonus interest.

If you think it is too troublesome to meet the requirements, you still can go for **CIMB FastSaver** account. They offer **1.0% p.a. interest rate** for the first $50,000 without any conditions.

Since your money is already sitting in the bank doing nothing, might as well make it work a bit harder by generating more interest.

Take some time to find the best savings account that is best suits your needs.

## Savings Account For Young Adults

### CIMB FastSaver Account

**1% p.a. interest **on the first S$50,000 without any conditions as long as you maintain a minimum deposit of S$1,000.

Probably the best savings interest rate in Singapore, with no strings attached.

Account Balance | Interest Rates (p.a.) |
---|---|

First S$50,000 | 1.00% |

Above S$50,000 | 0.60% |

### CIMB StarSaver (Savings) Account

Dislike monthly interest? StarSaver will give you **daily interest** instead!

By maintaining a minimum of $1,000 on any given day, you get to enjoy **0.8% p.a. on the entire account**.

Account Balance | Interest Rates (p.a.) |
---|---|

Min S$1,000 to earn interest | 0.80% |

## Savings Account For Working Adults

These savings accounts give even higher interest if you can fulfill some criteria. If your company gives salary through GIRO, you can consider these types of accounts.

### DBS Multiplier Account

Get up to **3.50% p.a.** interest on your first **S$50,000** savings in Multiplier. You just need to achieve the total eligible transactions required per month.

They have a calculator for you to easily calculate the potential interest that you can get.

*Daniel who earns S$2500 monthly and salary credit into his DBS multiplier account, just need to spend S$1 with his DBS/POSB credit card to achieve 1.85% p.a. interest rate on his savings.*

*In order to achieve 3.50% p.a., he will need to participate in 1 more category and increase his total eligible transactions per month to at least S$30,000.*

**Criteria: **Salary credit + one of the four categories (credit card spend, home loan installments, insurance or investments).

**Pros:**

- No minimum salary credit
- No minimum card spend

**Interest rate:** Up to 3.50% p.a.

**Max balance applicable:** S$50,000

### OCBC 360 Savings Account

Get up to **3.40% p.a.** **S$70,000** savings balance in 360. You just need to fulfill any of the categories to achieve the bonus interest.

*Oscar GIRO his salary of S$2500 into his OCBC 360 account. He also spends about S$600 on his OCBC credit card. He is able to achieve 1.85% p.a. interest on his S$30,000 savings.*

**Criteria: **Fulfill any categories

**Salary Credit**(min S$2000)**Spend**(Min S$500 Credit Cards spend)**Step-up**(Increase your account balance by S$500 compared to the previous month)**Wealth**(Insure or invest with OCBC)**Grow**(Average daily balance for the month must be at least S$200,000)**Boost**(Increase your account balance from the previous month’s balance)

**Pros:**

- Bonus interest applicable to higher savings balance

**Interest rate:** Up to 3.40% p.a.

**Max balance applicable:** S$70,000

### UOB One Account

Get up to **3.88% p.a.** **S$75,000** UOB One savings balance. You just need to have a ** minimum of S$500 credit/debit card spend** +

**or**

__credit your salary (min S$2,000)____.__

**make 3 GIRO debit****transactions**If you constantly spend at least **$500 on credit card** and your company still gives out your pay using cheques or cash, this account offers better interest because you can pair it with 3 monthly bills GIRO.

**Criteria:** Minimum S$500 card spend monthly + Salary credit (min S$2000) OR 3 monthly GIRO debit transactions

**Pros:**

- Bonus interest applicable to higher savings balance
- Able to achieve bonus interest without salary credit

**Interest rate:** Up to 3.88% p.a.

**Max balance applicable:** S$75,000

### Standard Chartered Bonus$aver Account

Get up to **3.88% p.a.** interest rate on your first **S$100,000** savings balance. You just need to fulfill any of the categories to achieve the bonus interest.

Do you charge at least **$2000 to your credit card** and have a **salary above $3000**? This account could suit you as the combined rates is pretty high!

*Standy draws a salary of S$4000 which he GIRO into Bonus$aver. He usually spends half of his salary with his Bonus$aver Card. Standy is able to achieve 2.88% p.a. interest rate on his savings.*

**Criteria:** Fulfill any categories

- Salary Credit (min S$3000)
- Bill Payment (Pay 3 bills online: min S$50 per eligible bill payment)
- Spend (Min S$500 Credit Cards spend)
- Insure or invest (S$12,000 annual premium for an Eligible Insurance Policy Or S$30,000 minimum subscription sum for an Eligible Unit Trust)

**Pros:**

- Bonus interest applicable to higher savings balance
- High bonus interest for credit card spend

**Interest rate:** Up to 3.88% p.a.

**Max balance applicable:** S$100,000

### BOC SmartSaver Account

SmartSaver is best suited for **high spender** (above $1,500) and ** high income earner** (above $6,000). Do you charge at least

**$1500 to your credit card**and have a

**salary above $6000**? The bonus interest rates

Get up to **3.55% p.a.** interest rate on your first **S$60,000** savings balance. You just need to fulfill any of the categories to achieve the bonus interest.

*Bill’s salary of S$6000 is GIRO-ed into SmartSaver. He usually spends 1/3 of his salary with his BOC Card. Bill enjoys 2.80% p.a. bonus interest on his savings.*

**Criteria:** Fulfill any categories

- Salary Credit (min S$2000)
- Payment (Pay 3 bills online: min S$30 per eligible bill payment)
- Card Spend (Min S$500)
- Extra Savings

**Pros:**

- High bonus interest for salary credit
- High bonus interest for credit card spend

**Interest rate:** Up to 3.55% p.a.

**Max balance applicable:** S$60,000

Account Balance | Prevailing Interest Rates (p.a.) |
---|---|

Below S$5,000 | 0.25% |

S$5,000 and above | 0.275% |

S$20,000 and above | 0.35% |

S$50,000 and above | 0.40% |

S$100,00 and above | 0.475% |

## Savings Account With Good Interest Rate

### Standard Chartered e$aver Account

e$aver offers you high bonus interest rate with no lock-in period when you bring in incremental fresh funds.

Account Balance | Prevailing Interest Rate On Deposit Balance | Bonus Interest Rate On Eligible Incremental Balance | Total Interest Rate On Eligible Incremental Balance |
---|---|---|---|

Less than S$50,000 | 0.10% p.a. | 1.75% p.a. | 1.85% p.a. |

S$50,000 to less than S$200,000 | 0.15% p.a | 1.90% p.a. | |

≥S$200,000 | 0.25% p.a. | 2.00% p.a. |

### Maybank iSAVvy Savings Account

iSAVvy‘s interest-on-interest allows you to earn higher effective interest rate.

### OCBC Bonus Plus Account

Bonus+ gives you better interest for not withdrawing the money.

## Old-School Savings Account

### Plus! Savings Account

Plus! Savings offers slightly better rates than POSB and UOB savings.

Account Balance | Interest Rates (p.a.) |
---|---|

First S$50,000 | 0.10% |

Next S$450,000 | 0.15% |

### POSB/DBS Savings Account

I bet you still have POSB/DBS savings account. It is still good for everyday use.

Account Balance | Interest Rates (p.a.) |
---|---|

First $10,000 | 0.050% |

Next $90,000 | 0.050% |

Next $250,000 | 0.050% |

Next $650,000 | 0.075% |

Above $1,000,000 | 0.100% |

### UOB Saving Account

UOB savings is similar to POSB/DBS savings. Offering low rates.

Account Balance | Interest Rates (p.a.) |
---|---|

First S$15,000 | 0.05% |

Next S$85,000 | 0.05% |

Next S$250,000 | 0.05% |

Above S$350,000 | 0.10% |

Finding Singapore high interest savings account just take some work as the interest rate offered really differs by quite a bit across different banks.

Just choose one of the higher interest rate accounts and take the time to open that account.

If you have some spare cash, you might want to check out the fixed deposit promotions page too.

We will update this page periodically to reflect the changes in savings account interest rate offered by the banks, so bookmark us and visit us often!