Finding the best savings account in Singapore in 2025 isn’t as simple as chasing the highest advertised interest rate.
The right account depends on your lifestyle – whether you’re a student, a freelancer with irregular income, or a salaried professional aiming for maximum returns. In this guide, we break down the best savings account Singapore offers by category.
From the highest interest rate options, accounts without salary credit, and student-friendly picks – find out which works best for you. Plus, we’ll share why pairing your savings with a YouTrip travel card can help you save even more when you spend overseas.
💜 Stay Up To Date:
– HSBC Everyday Global Account (HSBC EGA) Singapore Guide 2025
– CashChanger.co Vs YouTrip: Where To Get The Best Exchange Rate In Singapore?
– SGD To MYR Rate Today (2025): Best Exchange Rates, Forecast & Where to Change Money
📚 Table of Contents:
- Which Bank is Best for a Savings Account in Singapore?
- Overview of the Best Savings Account in Singapore 2025
- Best Savings Account Singapore 2025 – Category Breakdown
- Which Bank is giving 7% Interest on a Savings Account?
- Which Singapore Bank has the Highest Interest Rate?
- Pro Tip: Pair your Savings Account with YouTrip for Bigger Travel Savings
- How To Use YouTrip Overseas?
- FAQs about Savings Accounts in Singapore
Which Bank is Best for a Savings Account in Singapore?
Image Credits: Investopedia
The “best” bank for a savings account depends on your personal financial habits, goals, and needs. Before choosing, consider what to look for in a savings account:
- Interest rates: Look beyond headline rates and check the conditions required to earn bonus interest.
- Salary credit requirements: Does the account require you to credit your salary monthly? If you don’t have a fixed income, look for accounts without this condition.
- Minimum balance and fees: Check if there is a minimum balance requirement or fall-below fees that could eat into your returns.
- Bonus interest conditions: Many high-interest accounts require you to meet multiple criteria, like credit card spending or investments, to earn maximum rates.
- Ease of use: Consider digital banking features, app usability, and customer service.
- Additional perks: Some accounts offer cashback, rewards, or discounts on other banking products.
Top Savings Accounts in Singapore 2025:
- Standard Chartered Bonus$aver: Highest potential interest up to 8.05% p.a. with salary credit and investments.
- OCBC 360 Account: Balanced interest up to 5.45% p.a. with multiple criteria.
- DBS Multiplier Account: Up to 4.10% p.a., great for multi-category bonus interest.
- UOB Stash Account: No salary credit needed, bonus interest for maintaining balance.
- GXS Savings Account: Competitive digital bank option without salary credit.
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Overview of the Best Savings Account in Singapore 2025
| Savings Account | Max Interest Rate (p.a.) | Salary Credit Required? | Minimum Balance | Key Requirements / Conditions | Best For |
|---|---|---|---|---|---|
| Standard Chartered Bonus$aver | Up to 8.05% | Yes | None | Salary credit + credit card spend + investment/insurance | High interest with salary credit |
| OCBC 360 Account | Up to 5.45% | Yes | None | Salary credit + monthly increase + credit card spend + invest | Balanced high interest |
| DBS Multiplier Account | Up to 4.10% | Yes | None | Salary credit + credit card spend + home loan + investments | Multi-category bonus interest |
| DBS Multiplier (Student Tier) | Up to 4.10% | No | None | Spend on DBS/POSB card or PayLah! | Students |
| UOB Stash Account | Up to ~2.04% | No | None | Maintain or increase monthly avg. balance | Simple, no salary credit |
| Standard Chartered JumpStart | Up to ~2.00% | No | None | Ages 18-26, no minimum balance or fees | Students & young adults |
| GXS Savings Account | Up to ~1.38% | No | None | No salary credit, straightforward digital bank | Digital, no-frills savings |
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Best Savings Account Singapore 2025 – Category Breakdown
1. Best Savings Account Singapore with Salary Credit
If you receive a fixed monthly salary, crediting it into a high-interest account is the easiest way to earn bonus interest.
- DBS Multiplier Account: Up to 4.10% p.a. On the first S$100,000 when you meet multiple transaction categories (salary credit, card spend, home loan, investments).
- OCBC 360 Account: Up to 5.45% p.a. by meeting salary credit, save, spend, and insure/invest criteria.
- Standard Chartered Bonus$aver: Up to 8.05% p.a. on the first S$100,000 and when you fulfil all conditions (salary credit, card spend, investment/insurance).
2. Best Savings Account Singapore without Salary Credit
Perfect for freelancers, gig workers, or retirees who don’t have a fixed income.
- UOB Stash Account: Earn bonus interest simply by maintaining or increasing your monthly average balance.
- GXS Savings Account: Digital bank with a competitive rate and no salary credit requirement.
- Standard Chartered JumpStart: Earn interest on your first S$50,000 with no minimum balance or fees (ages 18-26). The account offers a base rate of 1.00% p.a., with an additional 1.00% p.a. bonus when you invest, bringing the total to 2.00% p.a. (effective from 1 September 2025).
3. Best Savings Account Singapore for Students
Students need accounts with good interest, low minimum balance, and minimal conditions.
- Standard Chartered JumpStart Account: High rates, no fees, and no minimum balance.
DBS Multiplier (Student Tier): Earn bonus interest by using PayLah! Or a DBS/POSB card, even without salary credit.
4. Best Savings Account Singapore Interest Rate (2025)
When comparing rates, note that headline rates (up to 8% p.a.) usually require multiple conditions.
Top maximum potential rates in 2025:
- Standard Chartered Bonus$aver: Up to 8.05% p.a.
- OCBC 360 Account: Up to 5.45% p.a.
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Which Bank is giving 7% Interest on a Savings Account?
As of 2025, no bank offers a flat 7% interest without conditions. To get close to this, you’ll likely need salary credit, credit card spend, and an investment or insurance plan with the bank.
The highest advertised rate (8.05% p.a.) comes from Standard Chartered Bonus$aver under full criteria.
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Which Singapore Bank has the Highest Interest Rate?
For maximum advertised interest, Standard Chartered Bonus$aver leads with up to 8.05% p.a., followed by OCBC 360 and DBS Multiplier. Realistically, the average effective rate is lower for most users.
Best Savings Account Singapore: Check out this guide for a DBS Multi-Currency Account (MCA) Guide 2025: Features, Exchange Rates, Fees
Pro Tip: Pair your Savings Account with YouTrip for Bigger Travel Savings
While a high-interest savings account grows your money, you’ll also need a smart way to spend it overseas.
That’s where YouTrip comes in:
- Multi-currency wallet with 12 popular wallet currencies
- Accepted in over 150+ countries
- Competitive wholesale exchange rates (better than typical banks) with zero foreign transaction fees
- Free monthly overseas ATM withdrawals of up to S$400 with a *2% fee imposed thereafter
- Real-time exchange rate alerts
- Best for: Travellers wanting to save on currency exchange and fees
💡Strategy: Keep your funds in your best savings account for maximum interest, then transfer what you need to YouTrip before travelling.
You’ll save on currency exchange costs and get the best exchange rates – a win-win for both your savings and your spending.
Best Savings Account Singapore: Check out the Best Multi-Currency Cards In Singapore (2025): A Full Comparison Guide
How to use YouTrip Overseas?
1️⃣ Top up your YouTrip wallet in SGD using PayNow, a linked bank account, or credit/debit card.
2️⃣ Lock in foreign exchange rates in the app before your trip for 12 popular currencies
3️⃣ Use the YouTrip Mastercard overseas for shopping, dining, and transport — it’ll automatically deduct from the right currency wallet or auto-convert SGD at wholesale rates.
4️⃣ Withdraw cash overseas (free up to S$400/month*).
5️⃣ Avoid DCC by always choosing to pay in the local currency.
Best Savings Account Singapore: Check out HSBC Everyday Global Account (HSBC EGA) Singapore Guide 2025
Who is eligible for a YouTrip account?
YouTrip is available to:
- Singapore citizens, permanent residents, and foreigners.
- At least 15 years old who holds a valid NRIC, FIN, or long-term pass issued by the Singapore government.
- Has a Singapore-registered mobile number and a valid email address to sign up.
Sign up via SingPass MyInfo for faster approval. Sign up takes 3 minutes and your YouTrip card will be delivered to your registered address within 5-7 business days.
Best Savings Account Singapore: Discover the Best Singapore Credit Card For Overseas Spending (2025)
FAQs about Savings Accounts in Singapore:
Q1: What is the best savings account in Singapore?
The best savings account depends on your lifestyle and needs. For the highest interest, Standard Chartered Bonus$aver offers up to 8.05% p.a. with conditions. For no salary credit, UOB Stash and GXS accounts are good options.
Q2: Which bank offers the highest interest rate on savings accounts in Singapore?
Standard Chartered Bonus$aver currently offers the highest potential interest rate of up to 8.05% p.a., followed by OCBC 360 Account with up to 5.45% p.a.
Q3: Can I get a high-interest savings account without salary credit in Singapore?
Yes. Accounts like UOB Stash, GXS Savings Account, and Standard Chartered JumpStart provide competitive interest rates without salary credit requirements.
Q4: Is there any bank giving 7% interest on savings accounts in Singapore?
No bank offers a flat 7% interest without conditions. You can get close to this rate by meeting multiple criteria on accounts like Standard Chartered Bonus$aver.
Q5: What is the best savings account for students in Singapore?
Standard Chartered JumpStart and DBS Multiplier (Student Tier) accounts are designed for students, offering good interest rates with minimal conditions.
Q6: How can I save on currency exchange fees when travelling overseas?
Pair your savings account with a multi-currency travel card like YouTrip, which offers zero foreign transaction fees and competitive exchange rates.
Get the best rates all day at zero fees with YouTrip!
The best savings account Singapore offers in 2025 is the one that aligns with your income type, spending habits, and saving goals. Choose an account with realistic conditions you can meet consistently, and pair it with a YouTrip card to maximise both your interest earnings and your overseas spending power!
Not a YouTrooper yet? Singapore’s go-to multi-currency wallet helps you save with great FX rates and zero fees. Skip the money changer and get a free YouTrip card + S$5 YouTrip credits with code <YTBLOG5>.
Then, head over to our YouTrip Perks page for exclusive offers and promotions — we promise you won’t regret it. Join our Telegram (@YouTripSG) and Community Group (@YouTripSquad) for travel tips, event invites, and more!
Happy travels!
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