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Looking for a way to grow your savings in Singapore? As of July 2025, there are many high-interest savings accounts that offer good rates but to get the best return, you need to meet the conditions. For instance, an interest rate of as high as 8.05% p.a. on the Standard Chartered Bonus$aver Account. On the first S$100,000, but you’ll need to fulfil requirements like crediting your salary and making eligible card spends.
The UOB One Account similarly gives you a maximum of 3.30% p.a. on the first S$150,000 when you credit your monthly salary and make qualifying card purchases.
Our team has carefully researched and compiled the top high-interest savings accounts in Singapore to give you accurate, up-to-date information. This guide will help you check the options available and choose the best saving account Singapore to maximize your savings.
Criteria for Choosing a Savings Account
1. Interest Rates
Evaluate the interest rates provided by different savings accounts. Opt for the best savings account in Singapore and offer higher rates to ensure optimal savings growth over time.
2. Fees and Charges
Scrutinise the various fees associated with the savings account, including monthly maintenance fees, ATM charges, and transaction costs.
Choose the best savings account in Singapore account with minimal fees to safeguard your savings from unnecessary deductions.
3. Accessibility and Convenience
Assess the accessibility and convenience features of the savings account. Look for accounts that offer online banking, mobile applications, and an extensive ATM network.
A convenient account allows for seamless financial management and easy access to funds.
4. Minimum Balance Requirements
Examine the minimum balance requirements of the savings account. Be aware of potential penalties for falling below a specified balance.
Select an account with minimum balance criteria that align with your financial preferences and circumstances.
5. Conditions for Crediting Salary
Certain banks provide better interest rates when you deposit your salary into your savings account. This can be appealing because it helps you increase your savings by earning extra on the money you put in.
6. Requirements for Transactions
Some savings accounts in Singapore might have specific requirements, like a minimum number of monthly transactions or a set amount to spend on your credit card.
Knowing and understanding these conditions is essential to fully enjoy the benefits of your savings account.
7. Additional Benefits and Features
Consider any supplementary perks or features the savings account offers, such as overdraft protection, linked accounts, or rewards programs. Opt for an account that provides additional benefits that complement your financial objectives and lifestyle.
By thoughtfully assessing these criteria, you can make a well-informed decision when selecting a savings account that aligns with your financial goals and preferences.
TL;DR: Best High Yield Savings Account in Singapore
| Savings Account Type | Highest Interest Rate | Amount Valid For | How to Unlock the Highest Interest Rates |
|---|---|---|---|
| Standard Chartered Bonus$aver Account | Up to 8.05% p.a. | First S$100,000 | Fulfil 4 criteria (Credit salary, spend, insure, invest) |
| UOB One | Up to 5.30% p.a. | First S$150,000 | Fulfil 2 criteria (Spend, credit salary OR make GIRO transaction) |
| UOB Stash | Up to 3.00% p.a. | First S$100,000 | Maintain or increase your Monthly Average Balance (MAB), as compared to the previous month |
| OCBC 360 | Up to 6.30% p.a. | First S$100,000 | Fulfil 5 criteria (Credit salary, save, spend, insure, invest) |
| Citi Wealth First Account | Up to 7.51% p.a. | First S$50,000 (Citibanking & City Priority); First S$250,000 (Citigold); First S$500,000 (Citygold Private Client) | Fulfil 5 criteria (Spend, invest, insure, borrow, save) |
| Bank of China Smart Saver | Up to 6.00% p.a. | First S$100,000 | Fulfil 5 criteria (Insure, spend, credit salary, pay, save) |
| DBS Multiplier | Up to 4.10% p.a. | First S$50,000 (1 category); First $100,000 (2 & 3 categories) | Fulfil 4 criteria (Salary, spend, loan, insure, invest) |
| HSBC Everyday Global Account | Up to 3.55% p.a. | (Please check with HSBC) | Deposit an aggregate amount of at least S$2,000 AND perform min 5 transactions AND top up |
| Citi Interest Booster | Up to 4.0% p.a. | First S$50,000 | Fulfil 5 criteria (Save, invest, insure, spend, borrow) |
| CIMB FastSaver | Up to 3.19% p.a. | First S$25,000 | Fulfil 2 criteria (Credit salary, spend) |
| Maybank Save Up | Up to 4.00% p.a. | First S$75,000 | Take up 3 or more products |
| SIF GoSavers Account | Up to 2.28% p.a. | First S$100,000 | No criteria |
| Trust Savings Account | Up to 2.25% p.a. | First S$1,200,000 | Fulfil 4 criteria (Maintain ADB, spend, credit salary, NTUC member) |
| GXS Savings Account | Up to 1.98% p.a. | First S$95,000 | No criteria |
| Standard Chartered JumpStart Account | Up to 2.50% p.a. | First S$50,000 | Fulfil 1 criteria (Invest); eligible 18 to 26 years old |
| RHB High Yield Savings Plus Account | Up to 1.50% p.a. | Step-up interest (above S$100,000 for max 1.50%) | No criteria |
In-Depth Comparison: High-Interest Savings Accounts Offered by Bank (July 2025)
Here’s a detailed breakdown of all the best saving account interest rate Singapore, including their interest rates, eligibility criteria, and key benefits to help you choose the best option for your financial goals.
Standard Chartered Bonus$aver Account
The Standard Chartered Bonus$aver Account is the best saving account Singapore. It offers one of the highest interest rates in Singapore — up to 8.05% p.a. for the first S$100,000. This bank account earns you interest on the first dollar with bonus interest on meeting conditions like salary credit, card spend, insurance and investments. As you unlock more categories, your overall interest rate increases.
| Requirement Category | Bonus Interest (p.a.) | Key Criteria |
| Base Interest | 0.05% | Applies to all balances |
| Salary Credit | 1.50% | Credit ≥ S$3,000/month via GIRO, PayNow, or FAST |
| Card Spend | 1.50% | Spend ≥ S$1,000/month on eligible SCB credit card |
| Insurance | 2.50% | Purchase eligible plan with ≥ S$2,000 annual premium |
| Investment | 2.50% | Invest ≥ S$20,000 in eligible unit trusts |
| Maximum Interest | 8.05% p.a. | Requires fulfilling all 4 bonus categories |
Key Benefits:
- High maximum interest rate of 8.05% for active users.
- Ideal for high-income earners who already invest or insure through Standard Chartered.
- Rewards customers across multiple banking categories.
- Maximizes returns for those who actively engage with Standard Chartered.
Standard Chartered’s Bonus$aver Account is ideal for customers looking to optimize their savings through various banking activities. While it requires a significant level of engagement, the rewards are considerable for those who can fulfill the criteria. If you’re already using Standard Chartered for multiple financial services, this account can yield significant returns.
UOB One Account
UOB One Account makes it easy to earn bonus interest just by doing two simple things. You spend a minimum of S$500/month on an eligible UOB card and credit your salary (≥ S$1,600/month) or make 3 GIRO payments. This easy setup provides one of the most competitive interest rates of up to 5.30% p.a. for deposits of up to S$150,000. It is a simple and very beneficial account particularly for salaried individuals.
| Monthly Average Balance | With Card Spend Only | + 3 GIRO Debit Transactions | + Salary Credit via GIRO |
| First S$75,000 | 0.65% | 1.50% | 2.30% |
| Next S$50,000 | 0.05% | 2.50% | 3.80% |
| Next S$25,000 | 0.05% | 0.05% | 5.30% |
| Above S$150,000 | 0.05% | 0.05% | 0.05% |
Benefits:
- Straightforward conditions to earn high returns.
- Ideal for salaried individuals who use UOB cards for everyday purchases.
- High interest rate of up to 5.30% p.a. on S$150,000.
- Simplifies the earning of bonus interest with minimal complexity.
If you want a simple savings account, the UOB One Account is a good choice. It offers one of the highest effective returns with only a few basic conditions. It’s ideal for people who want an easy, uncomplicated savings system with a decent rate of interest.
UOB Stash Account
The UOB Stash Account is the best saving account interest rate singapore that is designed for long-term savers who like to keep it simple. As long as your account balance remains the same or grows from the previous month, you will earn bonus interest — no credit card spend and GIRO transactions are required. This makes it perfect for users who want to earn a passive income on their idle funds with up to 3.00% p.a. on balances up to S$100,000.
| Monthly Average Balance | Base Interest | Bonus Interest | Total Interest |
| First S$10,000 | 0.05% | 0.00% | 0.05% |
| Next S$30,000 | 0.05% | 1.55% | 1.60% |
| Next S$30,000 | 0.05% | 2.15% | 2.20% |
| Next S$30,000 | 0.05% | 2.95% | 3.00% |
| Above S$100,000 | 0.05% | 0.00% | 0.05% |
Benefits:
- Ideal for passive savers who want stable returns without transactional requirements.
- Offers a 3.00% p.a. return without needing salary credit or card spends.
- No lock-in periods for easy access to your funds.
- Simple account setup with minimal conditions to fulfill.
UOB Stash is for long-term savers who prefer saving simply and consistently. It provides great returns to an individual who is interested in growing their savings without complex complications. Thus, it is suitable for someone who wants a stress-free plan.
OCBC 360 Account
OCBC 360 Account is among the highest-yield savings accounts for those who actively manage their money. You can earn bonus interest across up to six categories, including salary crediting, growing your savings, card spend, insurance, investments and account balance. You can earn up to 6.30% p.a., as every action adds more interest on top of the base rate. on your first S$100,000.
| Category | First S$75,000 | Next S$25,000 | Effective Interest Rate (EIR) | Key Criteria |
|---|---|---|---|---|
| Base Interest | 0.05% | 0.05% | – | Applies to entire balance |
| Salary | 1.60% | 3.20% | 2.00% | Credit salary ≥ S$1,800/month via GIRO/FAST |
| Save | 0.60% | 1.20% | 0.75% | Increase avg. daily balance by ≥ S$500 monthly |
| Spend | 0.50% | 0.50% | 0.50% | Charge ≥ S$500 to eligible OCBC credit cards monthly |
| Insure | 1.20% | 2.40% | 1.50% | Buy eligible OCBC insurance product |
| Invest | 1.20% | 2.40% | 1.50% | Invest in eligible OCBC investment product |
| Grow | 2.20% | – | 2.20% | Maintain avg. daily balance ≥ S$250,000 |
| Total | – | – | 6.30% | When all categories are fulfilled |
Benefits:
- Up to 6.30% p.a. for those who are actively engaged with their finances.
- Ideal for customers who manage salary credits, spending, and investments.
- Great for those comfortable managing multiple financial categories.
- One of the highest interest rates in the market for active savers.
The OCBC 360 Account is the most flexible best saving account singapore available for customers who actively manage their savings. It offers rewards for many financial activities. Users receive a high return if they meet the requirement criteria.
Citi Wealth First Account
The Wealth First Account from Citi is an ideal choice for high-net-worth individuals who want to combine their banking and wealth activities to grow money. It provides an interest rate of 7.51% per annum on deposits of up to S$500,000, the interest rates will stack over five categories: spending, investing, insuring, borrowing and saving.
| Requirement Category | Bonus Interest (p.a.) | Key Criteria |
|---|---|---|
| Base Interest | 0.01% | Applies to all balances |
| Spend and earn | +1.50% | Spend min. S$250/month on eligible retail with Citibank Debit Mastercard |
| Invest and earn | +1.50% | Invest ≥ S$50,000 in Unit Trusts, Bonds, or Structured Notes |
| Insure and earn | +1.50% | Buy insurance policy with ≥ S$50,000 premium |
| Borrow and earn | +1.50% | Take a new home loan ≥ S$500,000 |
| Save and earn | +1.50% | Increase average daily balance by ≥ S$3,000 from previous month |
| Maximum Interest | 7.51%p.a. | Fulfilling all categories |
Benefits:
- High interest rate of 7.51% p.a. for affluent customers.
- Rewards across multiple banking activities: spending, saving, investing, borrowing, and insuring.
- Ideal for customers with existing Citi financial products.
- Great for wealth-building customers who manage multiple Citi products.
The Citi Wealth First Account is the best saving account Singapore for those who want to manage all their funds, investments and wealth under one account, while earning higher returns. Since there is a chance for high rewards from various financial activities, this is a good choice for highly wealthy persons.
Bank of China SmartSaver Account
The Bank of China SmartSaver Account is a tiered savings account. It rewards customers based on the number of eligible activities they complete every month. Activities include spending, salary crediting, bill payments, and investing. You can receive bonus interest on the first S$100,000 of deposits, receiving a base interest rate of up to 0.40% p.a. and up to 6.00% p.a. when all bonus categories are fulfilled.
| Category | Bonus Interest (p.a.) | Key Criteria |
|---|---|---|
| Base Interest | Up to 0.40% | Earned on all balances by default |
| Card Spend | 0.75% (S$750–S$2,499) | Spend with BOC debit or credit card |
| Salary Crediting | 1.50% | Credit salary ≥ S$2,000 into BOC MCS Account |
| Bill Payment | 0.10% | At least 3 GIRO or BOC online bill payments (min. S$30 each) |
| Wealth Products | 2.75% | Purchase eligible BOC investment products |
| Extra Savings Bonus | 0.60% (for balances S$100K–S$1M) | Fulfill at least 1 of: card spend, salary crediting, or bill payment |
Benefits:
- High potential interest rates of up to 6.00% p.a. with active engagement.
- Additional tiered interest for balances above S$100,000.
- Ideal for individuals who use BOC’s debit/credit cards and bill payment services.
- Comprehensive rewards across various banking activities.
The SmartSaver Account of Bank of China is an ideal choice for customers who want a well-rounded savings strategy. It rewards you for completing multiple tasks, so this is best for those who use the bank actively.
DBS Multiplier Account
The DBS Multiplier Account allows you to earn bonus interest in a flexible manner. If you already use DBS for your salary crediting, spending, investment, insurance, or even home loan options, this account is for you! The more categories you fulfill, the higher the interest rate you will receive – up to 4.10% p.a. for balances up to S$100,000.
| Total Eligible Transactions / Month | Income + 1 Category (First S$50,000) | Income + 2 Categories (First S$100,000) | Income + ≥3 Categories (First S$100,000) |
| S$500 – < S$15,000 | 1.80% p.a. | 2.10% p.a. | 2.40% p.a. |
| S$15,000 – < S$30,000 | 1.90% p.a. | 2.20% p.a. | 2.50% p.a. |
| ≥ S$30,000 | 2.20% p.a. | 3.00% p.a. | 4.10% p.a. |
| Bonus interest if without income | Criteria | Interest Rate | Notes |
| Spend ≥S$500/month on DBS/POSB Credit Card or PayLah! | 1.50% p.a. | For users aged 29 and below on first S$50,000 balance |
Benefits:
- High interest rates of up to 4.10% p.a. for active banking users.
- Flexibility in earning bonus interest by fulfilling one or more categories.
- Ideal for younger users with fewer banking products but who can still earn 1.50% p.a. from card spending.
- Offers high returns with minimal complexity for regular users.
The DBS Multiplier Account is a good option for DBS customers that are already using a combination of a credit card, home loan, and investment, among other services. It pays good interest rates depending on how active you are in their ecosystem.
HSBC Everyday Global Account
The HSBC Everyday Global Account has attractive interest rates, especially during promotional periods. You can earn up to 3.55% p.a. in interest, when you deposit fresh funds, do at least five transactions and top up your account. This account provides multi-currency features which suit people who travel a lot or use multiple currencies.
| Required Category | Interest Rate (p.a.) | Key Criteria |
| Base Interest | 0.05% | Applies to all balances |
| Bonus Interest | Up to 2.50% | For customers with eligible wealth holdings who deposit fresh funds |
| Everyday+ Rewards | 1.00% | Make 5 eligible card transactions and deposit at least S$5,000 monthly |
| Maximum Total Interest | Up to 3.55% p.a. | Combining base, bonus, and Everyday+ Rewards interest rates |
Benefits:
- High potential interest rates of up to 3.55% p.a. with the right activities.
- Multi-currency account features for international transactions.
- Promotional interest rates for fresh funds deposited from May to July 2025.
- Ideal for individuals looking to earn high returns while managing international finances.
The HSBC Everyday Global Account is the best saving account Singapore for anyone seeking to earn a high return on their cash while managing currencies worldwide. It’s a flexible, competitive option for people who can meet the deposit and transaction requirements.
Citi Interest Booster Account
The Citi Interest Booster Account offers up to 4.0% p.a. on savings when customers fulfill five lifestyle and financial criteria. Starting with a base interest of 1.5% p.a., users can unlock additional interest by saving more, spending more, investing, borrowing, and purchasing insurance.
| Required Category | Bonus Interest (p.a.) | Key Criteria |
|---|---|---|
| Base Interest | 1.50% | Applies automatically to eligible SGD deposits |
| Save and Earn | 0.20% | Increase balance by S$1,500 or more |
| Spend and Earn | 0.20% | Spend at least S$500 monthly on eligible retail spend with Citi debit/credit cards |
| Invest and Earn | 0.60% | Make 3 investments of ≥S$1,000 in a month |
| Insure and Earn | 0.60% | Purchase insurance with min. S$5,000 regular premium |
| Borrow and Earn | 0.80% | Take up a home loan of S$500,000 or more with Citibank |
| Celebrate and Earn | 0.10% | Earn 0.1% birthday bonus interest during your birthday month |
Benefits:
- High base interest rate of 1.5% p.a..
- Up to 4.0% p.a. by fulfilling various lifestyle and financial criteria.
- Suitable for users with diversified financial portfolios, including insurance, investments, and home loans.
- Great for those looking to combine everyday savings with financial activities.
The Citi Interest Booster Account is a solid choice for individuals looking for a holistic approach to growing their savings. By fulfilling a few of the criteria, users can substantially boost their interest, making this account ideal for those actively managing their financial lives.
CIMB FastSaver Account
The CIMB FastSaver Account is a simple savings account offering up to 3.19% p.a. on the first S$25,000 of deposits, with interest accrued daily and credited monthly. This account is ideal for those who prefer a straightforward savings plan, as it rewards customers for crediting their salary and using a CIMB Visa Signature Card for monthly spending.
| Account Balance | Base Interest (p.a.) | Salary Credit / Recurring Transfer | CIMB Visa Signature Spend | Max Total Interest |
|---|---|---|---|---|
| First S$25,000 | 1.19% | +0.50% (min. S$1,000 via GIRO/Standing Instruction) | +1.00% (≥S$300 spend) or +1.50% (≥S$800 spend) | Up to 3.19% |
| Next S$25,000 | 2.09% | – | – | 2.09% |
| Next S$25,000 | 2.70% | – | – | 2.70% |
| Above S$75,000 | 0.80% | – | – | 0.80% |
Benefits:
- Up to 3.19% p.a. on the first S$25,000 with salary credit and CIMB Visa Signature spending.
- No fall-below fees or lock-in periods.
- Great for both everyday banking and goal-based saving.
- Simple, tiered system with easy-to-understand criteria.
The CIMB FastSaver Account is perfect for those who appreciate straightforward savings with no complicated hoops. With its daily interest accrual and simple qualification criteria, it’s an excellent option for both active savers and passive investors.
Maybank Save Up Account
The Maybank Save Up Account offers a tiered bonus interest structure that rewards you for taking up Maybank products such as a home loan, insurance, investment, or education loan. The more products you link, the higher the bonus interest you’ll receive on the first S$75,000 in savings, with a potential total interest rate of up to 4.00% p.a. on that portion of your balance.
| Bonus Interest Tier | First S$50,000 | Next S$25,000 |
| Base Interest | 0.25% | 0.25% |
| 1 product | 0.30% | 1.00% |
| 2 products | 1.00% | 1.50% |
| ≥ 3 products | 2.75% | 3.75% |
| Max Total Interest | 3.00% | 4.00% |
Benefits:
- High bonus interest for linking multiple Maybank products.
- Total interest rate of up to 4.00% p.a. for linked customers.
- Ideal for those who already have or are planning to take up Maybank services like loans or insurance.
- Flexible structure for savers with diverse financial needs.
The Maybank Save Up Account is excellent for individuals who already utilize or plan to use Maybank’s various services. It offers competitive rates with simple requirements, ideal for both new and existing customers of Maybank.
SIF GoSavers Account
The SIF GoSavers Account is a straightforward savings account that offers competitive rates with no complex requirements such as salary crediting or card spending. You can earn up to 2.28% p.a. on the first S$100,000 of deposits, making it ideal for those looking for hassle-free savings without additional criteria.
| Account Balance | Interest Rate (p.a.) |
| First S$100,000 | 2.28% |
| Next S$150,000 | 1.80% |
| Next S$150,000 | 1.85% |
| Next S$100,000 | 1.90% |
| Above S$500,000 | 1.80% |
Benefits:
- No criteria for eligibility, making it a simple, straightforward savings account.
- Competitive rates, especially for high balances.
- Ideal for users who prefer an uncomplicated, fuss-free savings option.
- Offers good returns for those who don’t want to engage in monthly spending or salary crediting activities.
The SIF GoSavers Account is perfect for those who just want to save without any complex conditions or hoops to jump through. It’s a great choice for anyone looking for a hassle-free savings account with strong returns.
Trust Savings Account
The Trust Savings Account comes with a basic interest rate of 0.75% p.a. on up to S$800,000 balances, you can earn as high as 2.75% p.a. when straightforward bonus criteria are fulfilled. The account offers interest on a daily basis and allows for flexibility, making it a great option for high returns and liquidity.
| Bonus Interest Tier | Interest Rate (on balances up to S$800,000) | Key Criteria |
|---|---|---|
| Base Interest | 0.50% p.a. | All Trust account holders automatically qualify |
| Spend Bonus | +0.50% p.a. | Make 5 qualifying card transactions of at least S$30 each |
| Balance Bonus | +0.75% p.a. | Maintain a min. Average Daily Balance of S$100,000 |
| Salary Bonus | +0.50% p.a. | Credit min. S$1,500 salary via GIRO in a single monthly transaction |
| Total Potential Interest | Up to 2.25% p.a. | When all 3 bonus criteria are met |
Benefits:
- Daily interest and no lock-in periods.
- High interest potential of 2.75% p.a. on up to S$800,000.
- Flexible and accessible, with no tiers limiting deposit amounts.
- Simple and easy-to-understand bonus structure.
A Trust Savings Account offers flexible savings, attractive interest rates and few restrictions. It’s a good option if you want to grow your money without committing to fixed terms.
GXS Savings Account
The GXS Savings Account is a collaboration between Grab and Singtel, and it is for those who want control and flexibility in their savings. This card gives you up to 2.28% p.a. You can earn interest without any fees or lock in period. You can also earn on all spends made on your GXS Debit Card.
| Account Type | Interest Rate (p.a.) | Key Criteria |
|---|---|---|
| Main Account | 1.68% | Daily interest. Cashback with GXS Debit Card (min. S$10 spend) |
| Saving Pockets | 1.98% | For saving goals. Open up to 8. No lock-in, no hoops. |
| Boost Pockets | Up to 1.98% | Base 1.68% daily + bonus 0.3% upon maturity (1–3 months). Withdraw anytime. |
Benefits:
- High base interest rate of 1.68% p.a. for everyday savers.
- No lock-ins or fees for easy access to funds.
- Flexible savings pockets with higher interest rates for goal-based savings.
- Cashback on purchases made with the GXS Debit Card.
The GXS Savings Account is best saving account interest rate Singaporel for digital-first savers who want to earn interest and get cashback on their everyday spending. With automated savings and no restrictions, it’s perfect for those who want flexibility and ease of use.
Standard Chartered JumpStart Account
The Standard Chartered JumpStart Account is designed for young adults and students aged 18 to 26. It offers up to 2.50% p.a. on the first S$50,000 and provides an easy way to start saving with no minimum deposit or salary requirement. The account also offers bonus interest when you invest via SC platforms.
| Category | Interest Rate (p.a.) | Key Criteria |
| Base interest (up to S$50K) | 2.00% | For account holders aged 18–26. No salary credit or spend required |
| Bonus when you invest | +0.05% | Earned when you invest via SC platforms |
| Total potential interest | 2.50% | On deposit balances up to S$50,000 with investment activity |
Benefits:
- High base interest rate of 2.00% p.a. with no salary credit or spend requirement.
- Bonus interest for investment activities via SC platforms.
- Ideal for students, young professionals, or early-career savers.
- Simple and accessible with no complex requirements.
The Standard Chartered JumpStart Account is perfect for young adults looking for an easy way to start saving with great returns. With no minimum requirements, it’s ideal for those just beginning their financial journey.
RHB High Yield Savings Plus Account
The RHB High Yield Savings Plus Account is the best saving account interest rate Singapore. It offers a tiered interest structure, rewarding savers with higher interest rates as their deposit balance grows. It provides up to 1.50% p.a. for balances over S$100,000. It offers a simple, easy savings plan with no complex criteria or spending requirements.
| Deposit Balance Amount | Interest Rate (p.a.) | Annual Interest Example (S$) |
| First S$50,000 | 1.20% | S$750 |
| Next S$25,000 | 1.30% | S$400 |
| Next S$25,000 | 1.40% | S$450 |
| Above S$100,000 | 1.50% | Depends on total balance |
Benefits:
- Straightforward interest rates with no complicated requirements.
- Ideal for high-balance savers looking for simple, predictable returns.
- Increased interest rates for larger deposit balances.
- No salary crediting, spending, or transaction requirements.
The RHB High Yield Savings Plus Account is ideal for high-balance savers who want a no-nonsense, tiered interest savings account. With simple and transparent criteria, it’s perfect for those who prefer not to engage in monthly requirements or transactions.
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Maximising Your Returns
1. Understanding Interest Rates for Better Savings
When it comes to making the most of your savings, it’s important to know about interest rates. The basic interest rate is what a bank normally gives you on your savings.
But to grow your savings, you also need to consider the effective interest rate. This takes into account how the interest adds up over time. Knowing how these rates work lets you decide where to keep your money and figure out how much you might earn.
2. Getting More with Bonus Interest
Find accounts that give bonus interest to make your savings grow even faster.
Bonus interest is an extra reward banks offer when you do certain things, like keeping a minimum amount in your account, putting money in regularly, or spending a certain amount.
Using bonus interest can boost how much you earn and speed up your savings growth.
3. Using Many Accounts
Using different accounts is a good way to make the most of your savings.
If you spread your savings across different accounts, you can benefit from the high interest rates and bonus interest different banks offer.
This helps you make more money from your savings and reach your financial goals faster.
Conclusion
In conclusion, the careful selection of the best savings account in Singapore featuring a high interest rate for the year 2024 is a pivotal move in securing a financially stable future.
As the financial landscape continues to evolve, it becomes increasingly apparent that proactive financial management is indispensable for those aiming to optimise their savings.
By thoughtfully evaluating available options and aligning their choice of a savings account with individual financial goals, Singaporeans can set themselves on a path characterised by astute and strategic money management.
In today’s dynamic economic milieu, cultivating a proactive stance toward financial planning is not merely advisable but imperative for achieving sustained long-term financial success. Therefore, make well-informed decisions today to initiate a journey of financial stability and robust growth.
Read also: Best Debit Cards in Singapore
Frequently Asked Questions
Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial advice. While we strive to present the most accurate and up-to-date information, interest rates and terms for savings accounts can vary and are subject to change without notice. We recommend readers to verify the current rates and terms with the respective financial institutions before making any financial decisions.
The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any financial institution or regulatory body. The listing of savings accounts and their features is based on research and comparison and is not an endorsement of any specific bank or financial product.
Readers are advised to consider their individual financial circumstances and consult with a qualified financial advisor to determine the best savings account for their needs. The author and publisher of this article assume no responsibility or liability for any errors or omissions in the content or for any decisions made based on this information.