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

The only Big-3 local bank account that didn't cut rates in 2025–2026 — DBS Multiplier holds at up to 4.10% p.a. on the first $100,000. The most flexible setup of the lot: no minimum spend per category, just transact more with DBS to unlock higher tiers. Credit your salary, use a DBS card, then stack insurance, investments, or home loans. Best for existing DBS customers who want a 'set and forget' account that's quietly become the strongest local-bank pick after May 2026 cuts hit OCBC and SC.

Rates were cut from 5.45% to up to 4.45% p.a. on the first S$100,000 effective 1 May 2026, with the realistic Salary+Save+Spend tier dropping from 2.45% to 1.95%. Still strong: rewards crediting salary, OCBC card spend, growing your balance month-on-month, plus insure/invest with OCBC. The 'Save' bonus (earning more than last month) remains unique to OCBC. Best for disciplined savers stacking 4+ categories — but DBS Multiplier now wins on rate if you only hit Salary + Card.

Once the simplest path to 4% p.a., UOB One has been cut twice — to 2.50% in September 2025, then to up to 1.90% p.a. from December 2025 — making it the lowest of the major local-bank accounts. The qualifying conditions are unchanged (salary credit + S$500/mo UOB card spend) and the S$150,000 cap is still the largest on this list, but the rate just doesn't compete anymore. Worth keeping only if you bank heavily with UOB or specifically need the higher cap; everyone else should switch.

Revised upward in November 2025 — BOC SmartSaver now offers up to 4.60% p.a. on the first S$100,000 (with up to 0.60% on the next S$900k tier above that). Credit your salary (≥ S$2,000), spend at least S$500/month on a BOC credit card, and add bills/insure/invest categories to climb the tiers. While the Big-3 banks were cutting through 2025 and into May 2026, BOC went the other way — making this the highest-yielding option among salary-required accounts after DBS Multiplier slips to #4 by yield. Best for diversifying beyond the Big-3.

Now the highest-rate bonus savings account in Singapore. From 1 May 2026, max rate drops from 7.05% to up to 5.85% p.a. on the first S$100,000 — still well above OCBC's 4.45% and BOC's 4.60%. Crucially, salary credit is *optional*: you can hit the top rate via Card spend + Salary or Card + Bills + Invest combinations. Self-employed and freelancers get the rare gift of an account that doesn't penalise them. Min S$3,000 balance with a S$5 fall-below fee. Best yield-per-effort pick post-May 2026.