Quick answer: For most people, DBS Multiplier and OCBC 360 are the heavyweights when you credit your salary and invest with them. UOB One keeps things simple with just salary and card spend. If you want global access, Standard Chartered BonusSaver and Citibank’s Wealth First account reward bigger portfolios. Maybank suits those with cross-border needs or Shariah-compliant preferences, while HSBC Everyday Global is for juggling multiple currencies alongside daily cashback.
A savings account that pays decent interest shouldn’t require you to reshuffle your entire financial existence. For most of us, the real question is which conditions you were planning to meet anyway, and which ones feel like paperwork for its own sake. We looked at the accounts that reward behaviour you’re already committed to, and dismissed the rest.
Want to compare across the whole category? That is what Best Bank Accounts & Savings in Singapore is for — 21 guides in total.
Money left sitting in a basic account honestly feels a bit wasted when these banks will pay you to use them more. The catch—and there is always a catch—is you have to bring your salary, your investments, your credit card spend, or a combination of all three. But if you are already doing those things anyway, the extra interest can compound into something tangible by the end of the year.
DBS Bank
DBS is the big fish in Singapore’s banking pond, and the DBS Multiplier Account is its way of saying thank you for letting it handle your whole financial life. Credit your salary, take up a home loan or invest through them, and you can earn up to 4.10% p.a. on your first $100,000. It rewards consolidation—steady lah if your money already moves through DBS.
If you keep things simpler, the DBS My Account handles multiple currencies with no minimum balance, so you won’t get a shock when you check your statement. Global Finance has named DBS Asia’s Safest Bank multiple times, which is reassuring when you are parking a serious sum.
If your salary, home loan and investments already sit with DBS, this is the account that quietly thanks you for keeping everything under one roof. There’s something satisfying about watching the bonus interest tick up without needing to actively chase it. It suits the sort of person who takes ‘steady’ as a genuine compliment.
Address: 712A Ang Mo Kio Ave 6, #01-4066, Singapore 561712
Phone: +65 6878 8888 (24/7), +65 6222 2200 (overseas)
Hours: Mon–Fri 8:30am–4pm, Sat 8:30am–12:30pm
Website: https://www.dbs.com.sg/
OCBC Bank
OCBC’s 360 Account can hit 5.45% p.a. on the first $100,000, but you will need to do more than just credit your salary—investments, insurance, and consistent growth all push the rate up. It appeals to people who already have a relationship with OCBC and don’t mind linking things together. The ASEAN connectivity is a practical perk if your business or family sits across borders.
OCBC has branches across Singapore; just use the branch locator on their site to find the one nearest you. The digital side ties savings into their wealth management tools so you can see everything on one screen, which saves a lot of admin.
The 360 Account is for the planner who already treats OCBC as their financial command centre. If you’re topping up investments and insurance policies here anyway, the extra interest feels like a quiet nod of approval. The ASEAN linkage is a practical touch for anyone with family or business beyond Tuas.
Address: Use OCBC’s branch locator on the website
Phone: +65 6363 3333 (personal banking), 1800 773 6437 (Premier), +65 6530 5930 (overseas)
Hours: Mon–Fri 9:30am–4:30pm, Sat 9:30am–12pm
Website: https://www.ocbc.com/
If you’re curious about accounts built specifically around an affluent lifestyle, our Premier Savings Accounts in Singapore for Affluent guide goes deeper into what additional perks those tiers unlock.
UOB
UOB keeps the criteria refreshingly short with the UOB One Account: credit your salary and hit a modest card spend each month, and you can earn up to 2.50% p.a. effective rate on the first $150,000. The tiered structure means the more you save, the more it rewards—great if you are steadily building a balance without wanting to track a dozen conditions.
Pair it with a UOB credit card and the cashback savings stack up fast. The app is clean and the loyalty programmes are structured to benefit day-to-day spending, not just investment portfolios. The Asian Banker named UOB Best Retail Bank in Singapore, so this is not a small player playing catch-up.
For anyone who believes a good deal shouldn’t need a spreadsheet, the One Account keeps the conditions short enough to remember—swee for those who’d rather spend time on weekend plans than banking logic. Credit your salary, spend a little on the card, and the rate climbs quietly in the background.
Address: 80 Raffles Place, UOB Plaza, Singapore 048624
Phone: +65 6222 2121, 1800 222 2121 (24/7)
Hours: Tue–Fri 9:30am–4:30pm, Sat 9:30am–12:30pm
Website: https://www.uob.com.sg
Nothing on this page is a paid placement. If you know a place that should be here, let us know before the next update.
Standard Chartered
The BonusSaver Account grabs attention with up to 8.05% p.a. on the first $100,000, but the number only comes together when you bring salary, investments, and insurance into the same bank. It is built for the globally minded—if you travel often or need to move money across countries without friction, Standard Chartered’s network makes that easier than most.
FinanceAsia has recognised it as Best International Bank in Singapore, and the priority banking team tends to be attentive without being pushy. The bonus boosts are structured around high-value activities, so this suits someone whose finances already have multiple moving parts.
The BonusSaver is built for the traveller who measures life in time zones rather than MRT stops. If you’re already shuffling funds across borders and juggling a few financial commitments, the way the interest stacks up feels less like extra work and more like a natural return on your global habits.
Address: Marina Bay Financial Centre, Tower 1, 8 Marina Blvd, #01-01, Singapore 018981
Phone: +65 6747 7000, 1800 747 7000 (24/7)
Hours: Mon–Fri 10am–5pm
Website: https://www.sc.com/sg/
Beyond banking, if you’re exploring how Singapore’s elite manage their wider wealth picture, our Singapore’s Elite feature covers premier services that go far beyond a savings account.
Citibank
Citibank’s Citi Wealth First Account is aimed squarely at Citigold clients, offering up to 7.51% p.a. on balances up to $500,000 when you combine investments and borrowing. The scale is bigger—half a million ceiling—so it is naturally for high-net-worth individuals who want their savings and wealth management under one roof.
A dedicated relationship manager comes as part of the deal, which means you’re not queuing at the branch or waiting on hold. Asiamoney named it Best Foreign Bank in Singapore, and the global platform ties in with overseas accounts if your interests spread beyond the island.
This is not the account you open on a whim—it’s the one you graduate to when your financial picture gets serious enough to deserve a dedicated relationship manager. The higher ceiling on balances means it suits those whose savings ambitions outgrow the usual thresholds.
Address: 8 Marina View #21-00, Asia Square Tower 1, Singapore 018960
Phone: +65 6225 5225 (Mon–Fri 8am–8pm), +65 6224 5757 (international)
Hours: Mon–Fri 9:30am–6pm
Website: https://www.citibank.com.sg/
Maybank
Maybank’s Save Up Programme gives up to 3.33% p.a. on the first $75,000 through transactions like investments, and is especially handy because it offers Shariah-compliant options and fee-free regional transfers—damn shiok if you have regular transfers to Malaysia or family across the causeway.
Global Finance recognised Maybank for Best Islamic Bank, and the multi-currency handling is efficient. It is not the highest headline rate, but for the right person the cross-border savings on fees alone can outweigh a slightly lower interest percentage.
It’s the quiet workhorse for anyone whose money regularly crosses the causeway. The Save Up rewards investment transactions while making the Malaysia corridor feel almost domestic—fee-free transfers mean more of your ringgit actually makes the trip. A solid choice if Shariah-compliant banking is a priority.
Address: 2 Battery Road, Maybank Tower, Singapore 049907
Phone: 1800-629 2265, +65 6533 5229 (overseas), 1800-438 3888 (Maybank Private)
Hours: Mon–Fri 10am–6:30pm
Website: https://www.maybank2u.com.sg/
Nothing on this page is a paid placement. If you know a place that should be here, let us know before the next update.
HSBC
HSBC’s Everyday Global Account pitches up to 3.25% p.a. and bundles in multi-currency support with cashback on everyday spending. If you are the sort who holds a few different currencies and wants to avoid conversion fees, this feels like a natural fit. Euromoney named HSBC Best Wealth Manager in Singapore, so the broader advisory services are there if you eventually want to scale up from savings into investments.
The rewards programme ties in nicely with day-to-day life—think cashback on groceries, petrol, dining—so your savings earn while your spending earns too. Branches are all over the island; check the locator for the one nearest you.
If your wallet already holds a few different currencies, the Everyday Global Account turns that habit into an interest-earning virtue. The spending cashback nudges your daily coffee towards a small rebate, and the multi-currency support means you stop treating conversions as a minor tax on your pay.
Address: Use HSBC’s branch locator on the website
Phone: 1800-4722 669 (1800-HSBC NOW), +65 6472 2669 (24/7 emergencies)
Hours: Mon–Fri 9:30am–5pm
Website: https://www.hsbc.com.sg/
For those who prefer to manage everything online without stepping into a branch, our Online Savings Accounts in Singapore guide covers digital-first options that still deliver solid rates.
How to choose
The headline interest rate is only half the story. Look at how many hoops you have to jump through—crediting salary is standard, but some accounts also require minimum credit card spend, specific investment products, or insurance purchases. If you are not already doing those things, the effective rate could be much lower.
Consider where your wealth sits geographically. Standard Chartered and HSBC suit people with international lives, while Maybank and OCBC reward regional ties. If you keep things local and uncomplicated, UOB and DBS give you steady returns against fewer conditions.
Minimum balances are rarely an issue with these accounts, but check the fine print for fall-below fees. Most of these accounts have no monthly fee if you meet the criteria, but missing salary crediting even once might drop your interest for that month.
Comparison at a glance
| Bank | Account | Max interest rate | Key criteria | Who it suits |
|---|---|---|---|---|
| DBS | Multiplier | 4.10% p.a. on first $100K | Salary, credit card, investments, loan | People who consolidate finances with DBS |
| OCBC | 360 | 5.45% p.a. on first $100K | Salary, investments, insurance, growth | Those comfortable linking multiple products |
| UOB | One | 2.50% p.a. effective on first $150K | Salary and card spend | Savers wanting simple, tiered rewards |
| Standard Chartered | BonusSaver | 8.05% p.a. on first $100K | Salary, investment, insurance | Globally mobile individuals |
| Citibank | Wealth First | 7.51% p.a. on up to $500K | Investments and borrowing (Citigold) | High-net-worth clients with large portfolios |
| Maybank | Save Up | 3.33% p.a. on first $75K | Investments, transactions | Cross-border savers, Shariah-compliant needs |
| HSBC | Everyday Global | 3.25% p.a. | Multi-currency, cashback spending | Multi-currency users who want daily cashback |
Summary
There is no single best account—more like the one that fits what you are already doing. If your salary, investments, and credit card spend already run through one bank, start there and work out the effective rate. The real gain comes when the bank treats your entire relationship as one package instead of a series of standalone products.
Disclaimer: Details were accurate as of October 2025. Interest rates, criteria, and branch hours can change. Always confirm directly with the bank before opening an account.
Nothing on this page is a paid placement. If you know a place that should be here, let us know before the next update.
Frequently asked questions
Which bank gives the highest interest rate on savings in Singapore?
Standard Chartered BonusSaver advertises up to 8.05% p.a. on the first $100,000, but you must meet criteria including salary crediting, investments, and insurance. Citibank Wealth First offers up to 7.51% p.a. on balances up to $500,000 for Citigold clients.
Do I need to credit my salary to earn bonus interest?
Yes, for most high-yield accounts like DBS Multiplier, OCBC 360, and UOB One, salary crediting is a key condition. If you skip it, the effective interest rate drops back to a base rate.
Can I open these savings accounts if I am not a Singapore citizen?
Each bank has its own eligibility policy. Generally, foreigners with a valid employment pass and a Singapore address can open accounts, but you should check with the individual bank directly.
What happens if I don’t meet the monthly spending or investment criteria?
You still earn the base interest, but you lose the bonus interest for that month. The base rate is typically very low, so missing a month means your effective return drops immediately.
Are these savings accounts Shariah-compliant?
Maybank offers Shariah-compliant options under its Save Up Programme. The other accounts listed are conventional and not structured according to Islamic banking principles.
How often is interest credited?
Interest is typically credited monthly, calculated daily based on your end-of-day balance, but the exact frequency can vary. Confirm with your bank’s product terms.
