5 Best Savings Accounts in Singapore (2026) — Highest Interest Rates Ranked

Standard Chartered Bonus$aver has the highest headline rate at up to 5.85% p.a. on the first S$100,000 — and uniquely does not require salary credit (it's optional). Second place currently belongs to OCBC 360: a promotional Save bonus running from 1 August to 31 December 2026 lifts its maximum to up to 4.70% p.a., putting it just ahead of BOC SmartSaver's 4.60% until the promo ends and it reverts to 4.45% on 1 January 2027. DBS Multiplier follows at 4.10%, and UOB One sits at the bottom of the major local banks at 1.90% after consecutive cuts in late 2025. Bear in mind these are maximums that assume you meet every bonus category, including insurance and investment purchases.

Judged on the salary bonus alone — rather than the headline rate, which is inflated by insurance and investment bonuses — OCBC 360 pays the most, at up to 1.00% p.a. on your first S$75,000 and 2.00% on the next S$25,000, for a salary of at least S$1,800 a month. DBS Multiplier is the most flexible: it has no minimum salary at all, so income of any size counts — but income plus one other category pays 1.80% (2.20% only if your monthly eligible transactions top S$30,000) and, importantly, on your first S$50,000 rather than S$100,000. UOB One has the lowest qualifying salary at S$1,600, and is the only account here where salary credit plus card spend alone reaches the full advertised 1.90%. BOC SmartSaver (0.50%) and Standard Chartered Bonus$aver (0.90%) both need S$3,000 a month, which puts them out of reach for many. One important limit: you can only credit your salary to one account, because banks identify it by the SALA transaction code — splitting your pay across two banks usually means neither hits its minimum. If you are self-employed or freelance, Standard Chartered Bonus$aver is the account to look at, since salary credit there is optional rather than required.

Only if the gap is big enough to survive the conditions attached to it. On a S$50,000 balance, a 0.25% difference works out to S$125 a year — real money, but not enough to justify restructuring your finances. A full percentage point on the same balance is S$500 a year, which is worth the paperwork. Before you move, check three things: whether you can meet the new account's qualifying conditions every single month without changing how you spend (a missed condition drops you to a base rate of around 0.05%–0.30%, which wipes out the gain); whether the minimum balance would trigger a fall-below fee, as Standard Chartered charges S$5 a month below S$3,000; and whether the rate you are chasing is promotional, since a boost that expires in a few months is not a reason to switch. None of the five banks here charge an account-closure fee, so the real cost of switching is the admin of moving your salary credit, GIRO arrangements and card spend — which is also why it is worth doing properly once rather than chasing every revision.

No. Bonus savings accounts in Singapore are tiered — you only earn the headline rate when you meet all the qualifying conditions in a given month. If you miss a category (e.g. didn't spend on the credit card that month), you drop to a lower tier or to the base rate of around 0.05%–0.30%. Banks revise tiers periodically, so the published 2026 rate may change in 2027.

Yes. All five accounts in this ranking are with banks insured under the Singapore Deposit Insurance Corporation (SDIC) scheme, which guarantees up to S$100,000 per depositor per scheme member if the bank fails. Spread balances above S$100,000 across multiple banks to keep all funds insured.

Yes — and many Singaporeans do. You can only credit your salary to one account, so the usual approach is to pick the bonus account whose conditions you can actually meet every month, fill it to its cap, then park anything above the cap in a digital bank or money market product like Trust Bank, MariBank, or Chocolate Finance. Since caps here are S$100,000 (S$150,000 for UOB One), anyone with more than that will need a second home for the excess anyway. There is no Singapore law limiting how many bank accounts an individual can hold.

Far less than the headline. Every account on this list puts most of its top rate behind an insurance or investment purchase — 3.00% of BOC SmartSaver's 4.60% is the Wealth bonus, and Standard Chartered's 5.85% needs both a S$30,000 investment and a S$24,000 annual insurance premium. On salary credit plus card spend alone, the realistic rates in August 2026 are roughly 2.20% for OCBC 360 (salary + save + spend, helped by the promotional Save bonus running to 31 December 2026, after which it returns to 1.95%), 1.90% for UOB One, 1.85% for Standard Chartered Bonus$aver, 1.80% for DBS Multiplier and 1.60% for BOC SmartSaver. DBS deserves a second asterisk: at income plus one category its bonus interest covers only the first S$50,000, not S$100,000, so the same 1.80% is earned on half the balance — DBS's own salary promotion page markets that two-step setup as 1.8% p.a. If you aren't going to buy the wealth product, rank by that column instead — the order changes completely, and the account with the highest headline rate drops to third.

OCBC 360 is the clear pick of the Big-3 right now: the promotional Save bonus running to 31 December 2026 takes it to up to 4.70% p.a., well ahead of DBS Multiplier's 4.10% — even though DBS is the only one of the three that wasn't cut in the May 2026 round. Pick OCBC if you can stack four or five bonus categories and you add to your balance every month, since the boosted bonus specifically rewards a growing balance. Pick DBS if your banking is spread across DBS products, since it has no minimum spend per category, no minimum salary, and rewards total transaction volume instead — it is also the more forgiving account if your income is irregular. But check the cap before you commit: on income plus one category DBS pays bonus interest on your first S$50,000 only, and the rate at that level is 1.80%, not the 2.20% most comparisons print. UOB One has dropped to 1.90% (after cuts in Sep + Dec 2025) — it's no longer competitive on rate, only on the larger S$150k cap and the lowest salary threshold at S$1,600. If you don't need to stick with a Big-3 bank, Standard Chartered Bonus$aver at up to 5.85% beats all three.

Review at least twice a year — there is no predictable annual cycle. The 2025–26 round of changes landed in September, November and December 2025, again in May 2026, and once more on 1 August 2026 when OCBC raised its Save bonus for a limited period. Banks give roughly a month's notice by letter or in-app message. Note that promotional rates cut both ways: OCBC's boost expires on 31 December 2026, so an account that looks best today may not be on 1 January. Qualifying thresholds also creep up quietly over time. If your account drops a tier you weren't aware of, you could be earning hundreds less per year, so set two calendar reminders and compare against the latest MissLobang ranking.

Standard Chartered Bonus$aver — and by a wide margin. Salary credit is one of its four bonus categories, not a gate: skip it and you simply forgo that 0.90%, leaving up to 4.95% p.a. still available from card spend (0.90%, min S$1,000/month), Invest (1.50%, min S$30,000 in eligible unit trusts) and Insure (2.50%, min S$24,000 annual premium) on top of the 0.05% base. Every other account here treats salary credit as the key that unlocks the rest: OCBC 360, DBS Multiplier and BOC SmartSaver all build their top tiers around it, and UOB One's only salary-free route is 3 GIRO debits plus S$500 of card spend, which caps at 1.40% p.a. on S$125,000. If you don't want bonus conditions at all, the alternatives are outside this list: digital banks and cash-management accounts such as Trust, GXS, MariBank and Chocolate Finance pay a flat rate with no salary, spend or insurance requirement, and Singapore Savings Bonds and T-bills pay their rate regardless of how you bank. Those are the accounts to look at if you are self-employed, freelancing, between jobs, or retired.

Two are live as we update this in August 2026, and one closes within days. Standard Chartered is paying S$228 cashback to customers who are new to Bonus$aver and apply for both a Bonus$aver current account (as main account holder) and a Bonus$aver World Mastercard (as principal cardholder) between 1 July and 31 August 2026 — you then need to deposit S$50,000 in fresh funds and keep the balance there until the end of the second calendar month after the account is opened. 'Fresh funds' excludes money already sitting with Standard Chartered, or money withdrawn and re-deposited within 30 days of opening. DBS is paying S$250 to anyone who registers for its salary promotion and credits a salary of at least S$1,600 a month — or an NS allowance of at least S$500 — via GIRO SAL/PAY for four consecutive months, with the first credit landing by 31 October 2026; it is open only to people who did not credit a salary to DBS/POSB at any point during 2025, and it is capped at the first 12,000 qualifying customers, so it can close before the stated date. Within those same four months you can stack S$40 for setting up an income or property tax GIRO with at least one successful deduction, and S$10 for opening an SRS account and contributing S$10, taking the total to S$300. OCBC, UOB and BOC are not running a comparable cash reward on these accounts as at 24 August 2026.