Having a savings account in Singapore is one of the most popular ways to save, and for good reason! In contrast to many other savings alternatives, savings accounts offer higher savings interest rates. There are also excellent benefits to the best savings, such as free ATM withdrawals, excellent customer service, and easy access to your money at any time. Using this list of Savings Account Singapore, you will be able to compare what each bank offers you in order to decide which account will fit your needs best Savings account in Singapore
Savings account |
Interest Rates |
Services |
Total Score |
Maybank Save Up Account |
9 |
9.5 |
9.25/10 |
Standard Chartered Bank Bonus Saver |
8.5 |
8.5 |
8.5/10 |
Bank of China SmartSaver |
9 |
8.5 |
8.75/10 |
UOB One Savings |
8.75 |
8.15 |
8.45/10 |
OCBC 360 Account |
8 |
8 |
8/10 |
DBS Multiplier Savings Account |
9 |
9 |
9/10 |
MayBank Save Up Account
Score:9.25/10
The Maybank Save Up account can be used to its full potential with a few easy steps. If you invest in nine Maybank products/savings accounts, you can earn double interest on your savings.
- A GIRO payment of $300 or a salary credit of $2,000 is required,
- Spending on credit cards (minimum $500)
- Your investment must not exceed 100% of your account value or the minimum investment amount of 10k for a structured deposit’s Interest Rate Tracker.
- A minimum investment of $25k in unit trusts
- The cost of an annual policy is $5,000, which is equal to a year of coverage for you and your family members under 18 years of age.
- A home loan of more than $200K
- The loan for renovations is more than $10,000 and requires a certificate of ownership of the property
- A car loan of up to 35K is available
- Loan for educational purposes ($10,000)
A good option for you is Maybank if you know you will be selling three products or services. Choosing Maybank may allow you to earn one of the highest rates of return on your investment.
Key Differentiators
- A 3% annual interest rate is available
- An all-in-one platform for spending, saving, investing, and more
- Provides a number of benefits
Contact: 1800-MAYBANK (1800-629 2265) (65) 6533 5229 (Overseas)
Address and Operating Hours: Considering their multiple locations, each one of those locations has different operating hours. This is why you should check their website for your desired location to find out what its operating hours are.
Website: maybank2u.com.sg
Standard Chartered Bank Bonus Saver
Score:8.5/10
It has been a wonderful alternative for those who need to spend more than they earn to open a Standard Chartered BonusSaver savings account.
Its interest rate has been adjusted, however, so unless you want to make money with this card, using it isn’t as attractive. Proceed if that’s what you need and if you’re prepared to invest $2K in transactions before gaining any benefits!
Key Differentiators
- A rate of up to 2.38% per annum
- ATM network with a large number of locations
- Application process that is quick
Contact, Address and Operating Hours: Due to their multiple locations, each location has unique contact information. Their website will provide you with details about the location, contact number, and opening hours for your desired location.
Website: sc.com
Bank of China SmartSaver
Score:8.75/10
The Bank of China Smart Saving account can be used in a variety of ways. To get the most out of it, here are a few simple steps you can take. It’s worth checking out the Bank of China if you’re looking for a higher interest rate than usual. In comparison to its competitors, they offer a competitive 1.4% p.a. They also have fewer requirements than their competitors. Bonus interest is available when 3 bill payments of at least S$30 each are successfully made through GIRO or via the internet banking/mobile banking bill payment feature.
Key Differentiators
- Requirements are lower
- You can earn up to 3.00% per year
- A minimum deposit of S$1,500 must be made on the plan
Contact: 1800-6695566
Address and Operating Hours: Considering their multiple locations, each one of those locations have different operating hours. This is why you should check their website for your desired location to find out what its operating hours are.
Website: bankofchina.com
UOB One Savings
Score:8.45/10
In addition to paying higher interest, the UOB One account does not require that you maintain a salary credit history. If you are afraid of arithmetic, choose this option; you must spend $500 on any UOB card (whether it is the UOB One Card or one of their lady Cards).
You can boost your interest rate by spending an additional 15,000 USD per month through the same borderless card, eliminating the need to put much effort into it. If you have been working for a number of years before cashing in, there are alternative methods – for example, credited your monthly income each year for a longer period, allowing you to discuss retirement plans earlier rather than later.
Key Differentiators
- Take advantage of a 2.5% interest rate per year.
- It allows you to manage your finances easily and with flexibility
- Shop online, buy groceries, use public transportation, and receive cashback up to 3%.
Contact, Address and Operating Hours: Due to their multiple locations, each location has unique contact information. Their website will provide you with details about the location, contact number, and opening hours for your desired location.
Website: uob.com.sg
OCBC 360 Account
Score:8/10
OCBC 360 accounts can be opened. Maintaining it is more challenging than maintaining the UOB One, but it also has much more flexibility since no single component needs to run smoothly – maintaining $1,800 every month is sufficient.
The 0.1% bonus you get when your balance reaches $500 may encourage people to save more in the long run without them even realizing it.
Key Differentiators
- Earn effective interest rate of up to 2.38% a year
- Online application
- Issues e-statements
Contact: +65 6363 3333
Address and Operating Hours: Considering their multiple locations, each one of those locations has different operating hours. This is why you should check their website for your desired location to find out what its operating hours are.
Website: ocbc.com
DBS Multiplier Savings Account
Scor:9/10
Your DBS savings account can be maximized with just a few simple actions. Savings Plus interest rates are only available if you have at least one monthly income that qualifies (salary credit or dividends from investments).
Once you’ve selected the category based on your requirements, you’ll be presented with a variety of options:
- Spending with a credit card without a minimum limit;
- The cash component of a home loan combined with the CPF component counts as qualifying contributions;
- The selection of insurance policies such as life insurance, critical illness insurance, and endowment policies;
- The investment may consist of a regular savings plan, a unit trust fund, or DBS Vickers, as appropriate.
If you use the appropriate combinations, you can also gain access to more advantageous tiers of interest and bonuses! DBS My Account allows you to tailor the savings account to meet your specific needs. If you are looking for a savings account that you can personalize, then this is the perfect fit for you. In order to open this account, no minimum deposit is required, nor is there any age restriction.
Key Differentiators
- You can earn up to 3% per year
- Initial deposit doesn’t need any requirements
- Account fees are not charged monthly
Contact, Address and Operating Hours: Due to their multiple locations, each location has unique contact information. Their website will provide you with details about the location, contact number, and opening hours for your desired location.
Website: dbs.com.sg
You can also check out Best Priority Banking in Singapore
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