Tired of getting 0.05% p.a. interest? It is time to look for **high interest savings account Singapore in 2018**.

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

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

One of the **best savings account** with high interest rates 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? Get **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 account 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 rate on your first **S$50,000** savings balance. You just need to achieve the total eligible transactions required per month.

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.

**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 **3.05% p.a.** interest rate on your first **S$70,000** savings balance. 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 pays 3 unique bills with total amount of S$150 with this account. He is able to achieve 1.55% p.a. interest rate on his savings.

**Criteria: **Fulfill any categories

- Salary Credit (min S$2000)
- Payment (Pay 3 bills online: total amount of at least S$150)
- Spend (Min S$500 Credit Cards spend)
- Wealth (Insure or invest with OCBC)

**Pros:**

- Bonus interest applicable to higher savings balance

**Interest rate:** Up to 3.05% p.a.

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

### UOB One Account

Get up to **3.88% p.a.** interest rate on your first **S$75,000** savings balance. You just need to have a minimum of S$500 credit/debit card spend and credit your salary or make 3 GIRO debit transcations.

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.

Ulfred’s company still gives out his pay using check. He regularly spends above S$500 on his card. He also pays 3 of his bills through his UOB One account with GIRO. With a savings of S$30,000, Ulfred is able to achieve 2.00% p.a. interest rate on his savings.

**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

**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

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 is mouthwatering!

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

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

< S$50,000 | 0.10% p.a. | 1.55% p.a. | 1.65% p.a. |

S$50,000 to < S$200,000 | 0.15% p.a | 1.70% p.a. | |

≥S$200,000 | 0.25% p.a. | 1.80% p.a. |

### Maybank iSAVvy Savings Account

### OCBC Bonus Plus Account

Base Interest (p.a.) | Monthly Bonus Interest (p.a.) [No withdrawal within the month] | Total (p.a.) |
---|---|---|

0.05% | 0.75% | 0.80% for months with no withdrawals |

## Old-School Savings Account

### Plus! Savings Account

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

First S$50,000 | 0.10% |

Next S$450,000 | 0.15% |

### POSB/DBS Savings Account

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

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!