Best Savings Accounts in Singapore
2025 has been a whirlwind for savers. On 1 May, both UOB One and OCBC 360 slashed their rates, each dropping to 3.30% p.a. when you credit your salary and spend on your card. Just a month later, on 1 Jun 2025, Standard Chartered turned heads by buffing its Bonus Saver account, bumping the maximum interest rate from 6.05% p.a. to a whopping 8.05% p.a. if you hit all the criteria.
Now, just as Singaporeans were adjusting, OCBC 360 is set to get nerfed once more on 1 Aug 2025. Under the new structure, even if you credit your salary, save, and spend on your OCBC credit card, you’ll only get 2.45% p.a.—a far cry from the highs we saw just months ago.
The savings account landscape is changing fast, and banks are making it trickier than ever to score the top rates. Between ever-shifting hoops—salary credit, card spend, insurance, investments, and more—savvy savers need to keep up with the latest updates.
To help you out with navigating savings accounts in Singapore, we’ve compiled the best savings accounts in Singapore with the highest interest rates in 2025 for different personal and financial needs.
Note: We update this article on a monthly basis with the latest rates. The rates below were updated on 11 Jul 2025.
What are the best savings accounts in Singapore with the highest interest rates in 2025?
1. At a glance: Best savings accounts in Singapore with highest interest rates (Jul 2025)
| Savings account | Interest rates (effective interest rates) | Best for |
| Standard Chartered BonusSaver | Up to 8.05% (on first $100,000, fulfil 4 criteria) | High spenders |
| OCBC 360 | Up to 5.45%Â (on first $100,000, fulfil 5 criteria) | Lower income earners ($1,800 min. salary) |
| Citi Wealth First Account | Up to 7.51% (on first $50,000 – $500,000, fulfil 5 criteria) | Those with other Citibank products |
| Bank of China Smart Saver | Up to 6.00%Â (on first $100,000, fulfil 4 criteria) | High spenders |
| UOB One | Up to 4%Â (on first $150,000, fulfil 2 criteria) | Freelancers & self-employed |
| Maybank Save Up | Up to 4.30% (on first S$50,000, fulfil 3 criteria) | Home, education, car loan users |
| DBS Multiplier | Up to 4.10% (on first $50,000 – $100,000, fulfil 3 criteria) | Salaried workers |
| CIMB FastSaver | 3.19% (on first $25,000, fulfil 2 criteria) | Young adults starting their careers |
| POSB SAYE (Save As You Earn) | 3.50%Â (just deposit and maintain money, no criteria to fulfil!) | Students or first-jobbers |
| HSBC Everyday Global Account | Up to 3.55% (register and qualify for the HSBC Everyday+ Rewards Programme) | HSBC Everyday+ Rewards Programme, HSBC Everyday Global Debit Card users |
Most savings accounts require you to jump through a whole bunch of hoops to enjoy their best rates. But let’s be realistic here. Most of us aren’t going to be taking a home loan, buying insurance from the bank, and investing with the bank—and certainly not all at the same time. What will you earn if you only fulfil 2 or 3 criteria, such as crediting your salary and spending on your credit card? Here’s our realistic summary for those with $50,000 and $100,000 to stash away:
| Savings account and the 2-3 easiest requirements to fulfil | Effective interest rate and earnings on first $50,000 | Effective interest rate and earnings on first $100,000 |
| Citi Wealth First Account Save $3,000/month + Spend $250/month | 3.01% (up to first $50,000) You earn: $1,505 per year (~$125 per month) | 1.53% p.a. (for regular Citibanking customers, 3.01% only applies to the first $50,000) You earn: $1,530 per year ($128 per month) |
| Standard Chartered BonusSaver Credit min. $3,000 salary + Spend $1,000/month | 3.05% p.a. (up to first $100,000) You earn: $1,525 ($127.08 per month) | 3.05% p.a. (up to first $100,000) You earn: $3,050 ($254.17 per month) |
| UOB One Credit min. $1,600 salary + Spend $500/month | 2.30% p.a. (up to first $75,000) You earn: $1,150 ($96 per month) | – 2.68% (EIR on first $100,000) You earn: $2,680 ($223 per month) Note: The maximum EIR of 3.30% p.a. applies on first $150,000. |
| OCBC 360 Credit min. $1,800 salary + Spend $500/month + Save $500/month | 2.75% p.a. (up to first $75,000) You earn: $1,375 per year (~$115 per month) From 1 Aug 2025: 2.05% p.a. (up to first $75,000) You earn: $1,025 per year (~$85 per month) | 3.30% p.a. (EIR on first $100,000) You earn: $3,300 ($275 per month) From 1 Aug 2025: 2.45% p.a. (EIR on first $100,000) You earn: $2,450 ($204 per month) |
| Bank of China SmartSaver Credit min. $2,000 salary + Spend $750/month | 2.65% p.a. (up to first $100,000) You earn: $1,325 per year (~$110 per month) | 2.65% p.a. (up to first $100,000) You earn:$2,650 per year (~$221 per month) |
| Maybank Save Up Programme Credit min. $2,000 salary + Spend $500/month | 1.24% p.a. (up to first $50,000) You earn: $619 per year (~$52 per month) | 1.12% p.a. (EIR on first $100,000, since bonus interest only applies to the first $75,000) You earn: $1,121.50 per year (~$93 per month) |
| DBS Multiplier Credit salary + 1 category ($500 min. in monthly transactions) | 1.80% p.a. (up to first $50,000) You earn: $900 per year (~$75 per month) | 0.925% p.a. (since 1.80% p.a. only applies up to first $50,000) You earn: $927 per year (~$77 per month) |
| CIMB FastSaver Credit salary/schedule GIRO transfer + Spend $800/month on CIMB Visa Signature Credit Card | 2.64% p.a. (up to first $50,000) You earn: $1,320 per year (~$110 per month) | 2.20% p.a. (EIR on first $100,000) You earn: $2,200 per year (~$183 per month) |
| POSB SAYE (Save As You Earn) No requirements, but cannot withdraw for 2 years | 3.50% p.a. You earn:Â $1,750 per year (~$146 per month)Â | 3.50% p.a. You earn:Â $3,500 per year (~$292 per month)Â |
| HSBC Everyday+ Rewards Programme Deposit min. $2,000 and make 5 transactions | 2.70% p.a. interest + 1% cashback (capped at $300 a month) You earn: $1,350 per year (~$113 per month) (excludes cashback) | 2.70% p.a. interest + 1% cashback (capped at $300 a month) You earn: $2,700 per year (~$225 per month) (excludes cashback) |
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