Quick answer: The DBS Multiplier, OCBC 360 and UOB One reward daily banking actions with rates up to 6.30% p.a. on the first S$100,000–S$150,000. For higher yields, Standard Chartered BonusSaver hits 8.05% p.a. and Citibank’s Wealth First goes to 7.51% p.a. on bigger balances, while Bank of China SmartSaver suits those with regional ties. GXS Savings Account keeps it simple with a no-conditions 1.98% p.a. on up to S$95,000, ideal if you want zero hoops to jump through.
Treat interest as profit margin, and the right Savings Account becomes a quiet engine. You want every dollar earning its keep, not sitting idle behind hoops you’ll never jump. Some accounts ask for a new insurance policy; others just need you to spend on the card you’re already using. The clever bit is matching the rules to your habits, not the other way round.
This sits inside Best Bank Accounts & Savings in Singapore, alongside 20 related guides.
DBS Bank
For many Singaporeans, DBS is already where the salary lands and the credit card lives. The Multiplier Account turns that everyday routine into a quiet wealth builder – tie in salary crediting, card spending and an investment or insurance plan, and the interest rate climbs to 4.10% p.a. on the first S$100,000. No minimum balance to worry about, so your cash isn’t locked down.
What makes it worth a look is how little you have to change. You’re likely doing most of the qualifying actions already. The app is straightforward, and the bonus interest feels like a small pat on the back every month. DBS has picked up nods like Asia’s Best Bank from Euromoney, which counts for something when you’re parking serious savings.
If your salary already comes here, this account is almost too easy. No need to open new cards or shift your routine – the interest builds on what you already do. For the DBS faithful, it’s a low-effort way to make idle cash work harder without adding a single new bill to track each month.
Address: 12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982
Phone: 1800 111 1111
Hours: Phone banking 24/7; branch hours vary (check locator)
Price signal: Interest up to 4.10% p.a. on first S$100,000
Website: DBS Bank
OCBC Bank
The OCBC 360 Account takes a slightly different approach – it rewards not just salary and spending, but also the act of saving more each month, plus insuring and investing with the bank. On paper you can earn up to 6.30% p.a. on the first S$100,000. That number gets attention, especially if you already have an OCBC mortgage or a Great Eastern policy somewhere in the picture.
It feels like a natural fit for someone who wants their banking relationship to feel a bit more complete. The bonus categories encourage you to consolidate, and for affluent households that already diversify across insurance and unit trusts, the extra interest can add up meaningfully. OCBC has bagged several Best Savings Account mentions in local reviews and consistently rates well for service reliability.
This account rewards the household that runs on OCBC. If your mortgage, insurance and salary all sit here, the interest stacks up without extra legwork. It suits the disciplined saver who enjoys watching the Save bonus tick up each month simply because they’re already putting money aside.
Address: 65 Chulia Street, OCBC Centre, Singapore 049513
Phone: 1800 363 3333
Hours: Phone 24/7; urgent enquiries from 12am to 7:59am; branch hours here
Price signal: Interest up to 6.30% p.a. on first S$100,000
Website: OCBC Bank
Nobody paid to appear here. If you think there is a gap in this list, we would rather hear about it than not.
UOB Bank
UOB One keeps the rules refreshingly simple: consistent card spending and salary crediting, and you get up to 5.30% p.a. on balances up to S$150,000. That higher balance cap gives it an edge if you are sitting on a six-figure sum and want more of it working at a good rate. No need to juggle multiple investment or insurance categories – meet the spending threshold each month and the interest tiers up.
It suits the saver who prizes predictability. You know exactly what you need to do each month, and the bank’s mobile platform makes it easy to track. UOB has been named Best Retail Bank in Singapore by The Asian Banker, and the rewards ecosystem spills over into credit card miles and dining perks that many affluent households already use.
A straightforward deal for the saver with a healthy six-figure balance. No insurance products to buy, no investment tiers to track – just spend on the card you carry and watch the rate climb. The higher cap means more of your cash earns, which is good maths if you keep a large emergency fund.
Address: 80 Raffles Place, UOB Plaza, Singapore 048624
Phone: 1800 222 2121
Email: [email protected]
Hours: Phone 24/7; branch hours here
Price signal: Interest up to 5.30% p.a. on first S$150,000
Website: UOB Bank
Standard Chartered Bank
If you are chasing the highest headline rate, the Standard Chartered BonusSaver Account can reach 8.05% p.a. on the first S$100,000. That number comes from stacking salary crediting, card spending and investments. The rate applies uniformly across the balance, which feels fairer than some staggered-tier structures. Standard Chartered also folds in its global wealth management arm, so if you travel often or keep assets overseas, the alignment is natural.
It is a serious contender for anyone who can comfortably direct their salary and regular spending through StanChart, and who doesn’t mind a bit of portfolio consolidation. The bank has earned titles like Best International Bank by FinanceAsia, and the savings account itself gets strong word-of-mouth for delivering exactly what it promises.
If you’re already investing through Standard Chartered, the BonusSaver layers extra interest on top of your existing wealth relationship. The uniform rate means no tiered guesswork – every dollar earns the same percentage, which makes the maths kinder for the detail-minded saver who checks statements carefully.
Address: 8 Marina Boulevard, Marina Bay Financial Centre Tower 1, Singapore 018981
Phone: +65 6747 7000
Email: [email protected]
Hours: Phone full services 8am to 8pm; urgent services 24/7; branch hours here
Price signal: Interest up to 8.05% p.a. on first S$100,000
Website: Standard Chartered Bank
When you are comparing different Savings Accounts in Singapore, you will notice that the conditions matter as much as the rate. BonusSaver rewards deeper engagement, so it is worth mapping your monthly habits against the bonus categories before committing.
Citibank
Citibank’s Citi Wealth First Account speaks to those who already operate at private-client level. For Citigold Private Clients, the interest can hit 7.51% p.a. on balances up to S$500,000 across spending, investing and saving. The tier is determined by your overall relationship with the bank, so the more assets you hold, the higher the ceiling. It is a clear signal: this account rewards substantial, committed wealth.
The appeal is the scale – half a million earning at a rate that rivals many investment products, but with the safety of a deposit account. Citibank has been named Best Wealth Management Bank in Singapore by The Asset, and the personalised service that comes with the wealth tier can be genuinely useful for busy professionals and family offices.
Consolidating everything under one roof, this account rewards total commitment from the high-net-worth saver. The interest ceiling rises with your assets, so the more you bring, the harder it works. A natural pick if you already move in private-banking circles and value a seamless wealth view.
Address: 8 Marina View, Asia Square Tower 1, #21-00 Singapore 018960 (other branches here)
Phone: +65 6225 5225
Email: [email protected]
Hours: Monday to Friday, 9:30 AM – 5:00 PM (branch); online 24/7
Price signal: Up to 7.51% p.a. on first S$500,000 for Citigold Private Clients
Website: Citibank
Bank of China
The BOC SmartSaver Account yields up to 6.00% p.a. on the first S$100,000 through salary crediting, bill payments and insuring. What makes it stand out is the higher base rate and natural cross-border advantages – if your business or family ties touch Greater China, holding yuan deposits or receiving funds in RMB becomes smoother. It doesn’t shout, but for the right profile it clicks.
Many affluent savers overlook it, which is a pity because the yields are genuinely competitive. Bank of China has garnered quiet respect for its RMB services and the SmartSaver’s structure is not overly complicated. Pair it with a BOC credit card and the bill payment category almost takes care of itself.
Often overlooked, this is the quiet choice for savers with yuan exposure or family ties across the border. The base rate is already decent, and the bill payment category is easy to hit – just GIRO your utilities and you’re partway there. For cross-border households, it keeps everything in one family of accounts.
Address: 4 Battery Road, Bank of China Building, Singapore 049908 (more branches here)
Phone: 1800 669 5566 (Customer Service) / 1800 338 5335 (Credit Card)
Email: [email protected]
Hours: Monday to Friday: 9:00 AM – 4:30 PM; Saturday: 9:00 AM – 12:00 PM
Price signal: Interest up to 6.00% p.a. on first S$100,000
Website: Bank of China
GXS Bank
Sometimes the best account is the one you don’t have to think about. GXS Savings Account gives you 1.98% p.a. on up to S$95,000 across savings pockets, with no salary crediting, no card spending, no investment hoops. It credits interest daily, so you see your money grow in tiny increments every single morning. The whole thing lives in an app that took minutes to set up.
For the tech-savvy affluent who value speed and zero conditions, this one sings. It is also a clever secondary account – park your first S$95,000 here for effortless returns, while you chase bonus rates with your main bank. Being one of Singapore’s licensed digital banks, it carries the same deposit insurance as the big names, and user reviews point to an interface that feels a generation ahead. If you are curious about digital-only options, our guide to Online Savings Accounts in Singapore might open more doors.
The beauty is the absence of rules. No salary crediting, no card spends to track, no forms. You open the app, park your cash, and every morning the interest shows up. It’s the account for someone who values simplicity and speed above a few basis points – and for anyone who hates small print.
Address: Online-only
Phone: +65 3105 2055 (Hotline) / +65 3105 2053 (Repayment)
Email: [email protected] (General) / [email protected] (Repayment)
Price signal: 1.98% p.a. on up to S$95,000, no conditions
Website: GXS Bank
How to choose
Start by mapping your monthly routine – where does your salary go, which credit card do you reach for first, and do you already hold insurance or investments with a particular bank? The highest rates almost always depend on hitting multiple bonus categories, so the best account is usually the one that matches habits you already have, not the one with the flashiest number. If you hate tracking categories, GXS or a straightforward tier like UOB One may feel less like a chore.
Balance caps matter too. A 6% rate on S$100,000 is a very different proposition from 1.98% on S$95,000, but if you are holding S$200,000 in cash, part of it will sit outside the bonus band in many accounts. Some savers split their cash across two banks – a high-yield bonus account for the first tranche and a no-frills digital account for the overflow. Also, check if you qualify for relationship tiers: Citibank’s Wealth First becomes markedly more attractive once you reach Citigold Private Client. For a broader look at what’s available, our roundup of Savings Accounts in Singapore with Interest Rates breaks down more choices. Fair expectation: a good affluent account should deliver 4–7% on the first S$100,000–S$150,000 once you meet normal spending and salary conditions; anything above that usually requires investment or insurance commitments.
Nobody paid to appear here. If you think there is a gap in this list, we would rather hear about it than not.
| Bank | Account | Max Interest (p.a.) | Bonus Balance Cap | Key Conditions | Best For |
|---|---|---|---|---|---|
| DBS | Multiplier | 4.10% | S$100,000 | Salary, credit card, investment/insurance | Existing DBS ecosystem users |
| OCBC | 360 | 6.30% | S$100,000 | Salary, spend, save more, insure, invest | Those consolidating wealth under one roof |
| UOB | One | 5.30% | S$150,000 | Salary, minimum card spend | Straightforward, high-balance savers |
| Standard Chartered | BonusSaver | 8.05% | S$100,000 | Salary, card spend, investment | Rate chasers with global outlook |
| Citibank | Citi Wealth First | 7.51% | S$500,000 | Spend, invest, save; relationship tier | Private-client level balances |
| Bank of China | SmartSaver | 6.00% | S$100,000 | Salary, bill payments, insurance | Those with regional China ties |
| GXS Bank | Savings Account | 1.98% | S$95,000 | None | Zero-condition, low-effort saving |
Summary
These seven accounts each take a different path to the same destination – making your money work harder while you get on with life. The right pick leans on the bank that already knows your habits, or the one that rewards the kind of wealth relationship you are willing to build. A little homework upfront can turn a few percentage points into a meaningful sum by year’s end.
Disclaimer: All details were gathered from publicly available sources. While we have taken care to present them accurately, rates, caps and conditions can change. Please confirm directly with the bank before opening an account.
Frequently asked questions
What is the highest interest rate I can get on a savings account in Singapore as an affluent saver?
The Standard Chartered BonusSaver offers up to 8.05% p.a. on the first S$100,000, provided you credit your salary, meet card spend and invest with the bank. Citibank’s Citi Wealth First reaches 7.51% p.a. on up to S$500,000 for Citigold Private Clients.
Are these accounts only for the truly wealthy, or can someone with a solid salary qualify?
Most bonus categories are tied to ordinary actions like salary crediting and credit card spending. Accounts like the DBS Multiplier and UOB One are accessible to salaried professionals; only Citibank’s higher tiers and some investment-linked bonuses gate behind larger asset levels.
How do DBS Multiplier, OCBC 360 and UOB One compare?
DBS Multiplier pays up to 4.10% on S$100,000 through salary, card spend and investment; OCBC 360 tops 6.30% on S$100,000 by also rewarding incremental saving and insurance; UOB One gives up to 5.30% on a higher S$150,000 cap with simpler salary and spend requirements.
Do any of these accounts require a minimum balance?
DBS Multiplier has no minimum balance. UOB One typically waives fees if you meet the bonus criteria. OCBC 360 and Bank of China SmartSaver have monthly service fees if balances fall below a certain threshold. Check with each business for the latest fee structure.
Is GXS Bank safe for keeping large sums, given it is a digital bank?
Yes. GXS Bank holds a full banking licence from the Monetary Authority of Singapore and deposits are insured up to S$75,000 under the Singapore Deposit Insurance Corporation, the same protection that covers the major banks.
Can I switch easily between these accounts to chase the best rates?
You can hold multiple accounts, but bonus interest usually depends on salary crediting and card spend at each bank, so splitting these actions across banks often reduces the rate you earn at any single one. Many savers keep a primary bonus account and a secondary no-conditions account for overflow funds.
