(Ah 2019, we miss you so.). To make it easier for you, we created the Seedly Savings Account Calculator which you can use for FREE! Note that it’s a whole lot less liquid than any other savings account, so for the love of God, please don’t put your emergency stash in here. If you are looking for a low-risk way to save money over a long period of time, high yield savings accounts may be a good option for you. And don’t want to crack your head over complicated T&Cs…. Back in March 2020, we did an analysis on the highest interest savings account in 2020. So if you aren’t drawing that kind of pay or looking to spend that kind of money. The highest interest savings accounts will be offshore in emerging countries. since the 1 Nov 2020 changes have kicked in. UOB One Card, UOB Lady’s Card, or UOB YOLO Card). Based on the criteria that we set out, here’s how much interest you’ll be getting: Maybank Save Up will give you the highest interest of 1.03% p.a. All financial products and services are presented without warranty. without having to jump through too many hoops, assuming a $2,000 credit card bill and 3 bill payments are no problem for you. The criterion to hit the OCBC 360 Grow Bonus interest rate is probably out of reach for most of us. Depending on the savings account and the promotion, you … Last Updated: 2020-11-10. on the first S$50,000 of your account with Save Up Programme, when you save, spend, invest, insure or borrow with Maybank. If you’re one of those victims, you don’t have to suffer this injustice. All data compiled by BankBazaar.com. Based on the criteria we set out, you’ll earn 0.50% p.a. bonus interest. FYI: If you’re currently using the Maybank SaveUp account, here are the latest interest rates as of 21 Dec 2020. Pay 3 bills and spend $2,000 on your SCB Bonus$aver World credit or debit card and you’ll already get 1.2% p.a. Premier EasiSave. T&Cs apply, Withdraw cash conveniently without an ATM card using Mobile Banking, UOB Young Professionals Solution is a combination of UOB One Account, UOB YOLO and the unique Sweep feature that allows you to automatically invest your earned account interests and card rebate into a Unit Trust. The Standard Chartered BonusSaver account is great because it gives you extra interest if you spend more via a Standard Chartered credit card. It is the basic savings account with the highest interest rate in Singapore today and can provide higher interest rates and yet liquidity if you need it. For your convenience, we’ve compiled the best savings accounts in Singapore with the highest interest rates, updated for 2021. For the past 10 years, Singapore Savings Account Rates has been helping you to earn higher interest income from savings accounts, savings bonds and other financial retail investments in Singapore. The details you see on our site may be different from others. That’s ’cause not all of us have $1 million in savings to qualify us for the highest tier of interest. But based on the criteria we set out where you’re crediting your salary, spending $500 with your credit card and making three bill payments – you’ll only earn a paltry 0.35% p.a. The RHB High Yield Savings Plus Account is a no-frills savings account which offers up to 0.875% p.a. Then to get more interest, you’ll need to: Based on the criteria we set out earlier, you will fulfil the salary credit category and credit card spend category. You’re probably better off looking at other savings accounts that can give you better interest rates for less. one might pay 2% p.a. Lastly, go through our Seedly Reviews for the various savings account and pay attention to the feedback our community have given with regard to customer service as well as how easy it is to use their iBanking and mobile banking apps. To best optimise your interest rate, you’ll basically want to fulfil at least three products and services in order to clock the maximum interest of 3.00% p.a. Note: the base interest for UOB One is 0.05% p.a. $2,000), Invest in structured deposit (min. They offer probably the highest interest rates in Singapore for those who take home a monthly salary of at least $6,000. interest on everything up to $50,000 and there’s no fall below fee either. After spending time to research and compare the savings accounts in Singapore, Heartland Boy will spill the beans on how to get the highest interest rate on your bank savings accounts. Earn up to 3% p.a. Or you could clock the Invest or Insure category to really see a boost in your bonus interest rate. with $100,000 deposit and no fall below fees. This savings account is amazingly simple: You start with a base interest rate of 0.01%, but if you credit your salary of at least $2,000, you earn 0.8% bonus interest. Banks have promotions whereby they offer bonus interest rates on savings accounts if you meet certain conditions. OCBC 360 Account — OCBC Savings Account Review. Up to $200 cash credit when you sign up online and sign up for a UOB credit card. Note: you’ll have to maintain a minimum daily balance of $3,000 in your account to avoid getting charged a fall below fee of S$5 per calendar month. After that, you can only go as far as Income plus transactions in 2 categories: Credit Card Spend and Home Loan Instalments. home loan or insurance). Most savings accounts will offer you a base interest rate that changes with current Singapore Inter-Bank Offer Rate (SIBOR) and Singapore Dollar Swap Offered Rate (SOR) rates. Earn bonus interest based on the number of qualifying products held: 1 qualifying product: 0.3% p.a. for bills, 0.75% p.a. https://www.bankbazaar.com/.../savings-account-interest-rates.html Here are a few things to think about: How much you have to invest: If you only have a little spare money, a long-term fixed-rate account probably won’t make sense. $300) OR salary credit (min. Unless you choose to buy EVEN more insurance and make MORE investments…. Maybank Singapore Savings Account. For example, the CIMB FastSaver and UOB Stash accounts gave us up to 1% p.a. CIMB FastSaver Review: What Are The Changes in January 2021? From 1 May 2020, this interest rate reduces to 1.796%. On paper, the Standard Chartered Bonus$aver Account gives the highest effective interest rate in Singapore at a very impressive 2.60% p.a. on amounts under $50,000). If you take your money out sooner, there can be high penalties and you could miss out if interest rates rise during the savings term. Best alternatives to Savings Accounts in Singapore (2020) SingSaver.com.sg. interest, when you can upgrade to high-interest savings account instead. interest. To maximise the account, you will need to be drawing at least $3,000 for a small 0.10% bump in the bonus interest rates. If you’re still unsure, you can also read real user reviews left by our SeedlyCommunity to find out if it’s really the best savings account for you! The interest rate rises with every additional $15,000 in your UOB One account, capped at $75,000. Not only did many of us suffer pay cuts and income losses, most of the high interest savings accounts in Singapore also got royally nerfed! Keep track of your transactions printed on a handy passbook and access your savings account easily with a Debit Card and Online Banking. Jul 15, 2020 . So the best zero-effort contender right now is the POSB SAYE (Save As You Earn) account. DBS Multiplier Account: What Are the Changes For January 2021? Bank account balance $500 in a calendar month AND Credit Salary or make 3 GIRO debit transactions, The extreme left column will tell you what kind of base interest or category you need to fulfil in order to qualify for the interest, If you meet any of the categories, make a mental note of the corresponding interest rate, Add everything up to get your estimated potential interest rate, Insurance (only for the first 12 consecutive months). Interest Rate: Earn up to 0.2% per annum. The application can be done online and it’ll only take you a couple of minutes. Interest rates are calculated on a daily basis and credited on a monthly basis. Higher interest rates for higher balances: Pensioner savings accounts often have a tiered interest rate structure, paying different interest rates depending on the balance of the account (e.g. Interest will be credited 1 month after the transaction upon full payment of your credit card spend, Multi-currency feature: If you are the primary Standard Chartered Bonus$aver account holder, login to Standard Chartered iBanking or SC Mobile to enable the multi-currency feature to transfer funds in foreign currencies in your other Standard Chartered accounts to your Standard Chartered Bonus$aver account. U.S. Federal Reserve cut interest rates to near-zero. In terms of credit card spending, you might want to consider using the BOC Family Card as it gives you up to 10% cashback on groceries and dining. You have to apply for a DBS credit card AND spend a minimum sum with it, You will usually have to wait a while when withdrawing money as the queue for DBS or POSB ATMs are usually the longest (since almost everyone’s using them). FYI: The changes to the base interest rate of the BOC SmartSaver account are effective 1 Aug 2020. is higher than most other accounts listed here. Maybank Passbook Savings Account Enjoy one of the highest interest rates on savings account in Singapore. The easy-to-use UOB One account is one of the few higher interest savings accounts with no salary credit requirement. in the latest bond – Apply by 28 December 2020; HSBC: Enjoy a promotional rate up to 0.55% on 3-mth / 6-mth / 12-mth SGD Time Deposits till 31 Dec; Standard Chartered: Earn 0.45% p.a. The bonus interest rate you earn is influenced by: In addition to how many and how much transactions you make in the following categories: The more categories you transact in, and the higher the amount you transact in, the more interest you’ll earn. Yet if you have a lump sum of cash, and you want to maximise its earnings, you can still take advantage. This is also one of the main reason we are seeing various updates that will start from January 2020 onwards. P.S. Choice of 9 qualifying products include salary or GIRO, home loans, car loans, investments and insurance. This is currently unmatched. However, the latter is better if you’re eligible for one more transaction (e.g. With an interest rate that goes as high as 3.8%, DBS Multiplier Account is the savings account to get if you want your money to increase as it sits with your bank. Instead, you’ll want to fulfil as many other categories as you can: Even if you’re unsure about buying insurance or investment products from OCBC, here’s an example of how much interest you can earn based on the above criteria: FYI: Before we get into it, you should know that the BonusSaver bonus interest rates were revised recently. Oh, before you switch your bank accounts. Interest rate is generally not the highest compared to the other savings accounts. Even if your average monthly balance fluctuates month-to-month, you can still earn top interest rates with Maybank iSAVvy Savings Account–as long as your account remains above S$5,000 for 6 months, which is quite reasonable for the average consumer. The best savings account depends largely on you meeting certain criteria set by the banks. These changes will take effect on 1 Nov 2020 and the revision will be applicable to all new and existing UOB One accounts. Source: DBS To earn the extra interest, you’ll need to minimally credit your salary or dividends from CDP via GIRO to qualify for the Income category . Eligibility: Children under 16, a parent is required. DBS Multiplier Account is a deposit account with a base interest rate of 0.05% per annum, Bonus interest rates: 1.40% to 3.80% per annum. And any incremental balances above $20,000 will receive 0.1% p.a. The whole process of choosing the best savings account can be rather confusing as we all have different spending habits and incomes. Here’s How the Latest DBS Multiplier Account Changes Benefit You, Standard Chartered BonusSaver Account Review — Higher Interest Rates for Savers. General Disclaimers . Talk about adding insult to injury. Put the lump sum in the top-paying easy-access account. Best Personal Accident Insurance Policies, See All Personal Accident Insurance Articles. Fulfilling these criteria will offer you tiers of interest rates for your account balances. The Fed also recently announced that they will keep interest rates near zero until 2023. to qualify for 0.30% bonus interest rates on your PayLah! As a reward for your restraint, you earn 2% p.a. There are no further hoops to jump through, and no minimum balance OR fall-below fee. As shown in Diagram 1 below, prior to 1 May 2020, UOB One Savings Account provides 2.436% interest rate. Advertised interest rates for savings accounts in Singapore often reflect the highest available rate for one component within a larger, more complex savings plan. Sign up for our newsletter for financial tips, tricks and exclusive information that can be personalised to your preferences! Singapore Savings Bond (SSB): Earn up to 0.9% p.a. Waived for up to age 25. To earn the extra interest, you’ll need to minimally credit your salary or dividends from CDP via GIRO to qualify for the Income category. Note: the Base Interest for Standard Chartered BonusSaver has also been revised to 0.03% p.a. Then, pick 1 or more from the following categories: If you have a DBS home loan — worth considering since home loan interest rates are low — you can quite easily unlock a higher tier of interest. OCBC unit trusts, structured deposits, or bonds and structured products, Over 1,100 ATMs in shared network in Singapore, The Maybank Save Up Programme lets you choose from 9 different Maybank products/services to get bonus interest, GIRO payment (min. Bonus Interest for UOB One is calculated at the end of each calendar month based on the monthly average balance. Like seriously, who has $200k lying around in the bank?! The only caveat is that this bonus interest is capped at $25,000 (unless you’re an HSBC Premier customer, in which case it’s $100,000). Your bonus interest rate increases if you transact in more of the above categories, Bonus interest rates for 29-year-olds and below: Credit your income and spend above S$500 via PayLah! Note: even though there is no minimum transaction required for each category, you still need to have a total transaction of at least $2,000 under the Income category to qualify for ANY bonus interest tier. Finding the best high-interest savings accounts. Refer to Bonus Interest Rate tab below to see the change in interest rates, Students, NSF, self-employed, salaried or retired individuals are eligible to apply. You should also note that ATMs for foreign banks like Bank of China and Standard Chartered are usually limited. Rates are subject to change without notice. After getting nerfed, the Standard Chartered BonusSaver savings account isn’t so great for regular folks, but it does occupy a niche: It gives you pretty high interest just for spending tons of money. The interest rate shown in the table below will be the interest rate effective 1 Nov 2020. *Additional interest capped at first $50,000 of your account balance. Our team at Singapore Savings Account Rates works hard to raise your earned interest income from investing in savings accounts in 2015. Back in the day, many of us nerds liked to open a second savings account. Best Savings Account With the Highest Interest Rates in Singapore 2021. without having to jump through too many hoops, assuming a $2,000 credit card bill and 3 bill payments are no problem for you. As such, interest rates from these savings accounts have been slipping and falling like this penguin: With banks changing their interest rates multiple times this year, you might find it hard to keep track of the changes. Let’s look at some of the most popular savings account for children in Singapore. PayLah Retail Spend (29 years old and below). Investments (only for the first 12 consecutive months). Still have more questions after reading the article? Banks in Singapore have all lowered their savings account interest rates since COVID-19. interest. The interest rate shown in the table below will be the interest rate effective 1 Dec 2020. But if you’re moving that kind of money a month, you’re probably don’t really care about finding the best savings account. The good news is that emerging countries will require lower minimum deposits (sometimes as little as $1) and, as they are eager to attract depositors, will often be more open to foreigners (sometimes all you’ll need is a passport). Here is how much interest you can earn after 1 Jan 2021: If you take up a home mortgage loan or invest with DBS as well. Some content may be compensated through third-party advertisers. Waived for first-time customers & those up to age 29. But the minimum spend of $800 to qualify for the cashback might discourage those who don’t spend that much. You can use the FREE Seedly Savings Account Calculator to help you make your decision faster! The Maybank Save Up programme lets you choose from nine different products and services in order to get the bonus interest: *If you meet the minimum salary credit amount and/or the minimum aggregate GIRO debit amount stated in the table above, it will be considered as 1 Qualifying Product. Ultimate guides to kickstart your finances, You can contribute your thoughts like Ming Feng. Unlike other banks, it doesn’t require account holders to have a minimum salary credit or credit card spend as long as your monthly transactions amount to $2,000. Fret not, ask our community here! The only catch? All you have to do is fill up some basic information like your: And the calculator will tell you which savings account gives you the highest interest rate! on amounts over $50,000 and 0.5% p.a. After taking into consideration of the requirements and conditions, the DBS Multiplier Account is unanimously chosen as the best deposit account in Singapore. A lesser-known option is the HSBC eFlexi savings account. From 15 Jan 2021, you basically get 0.30% p.a. You can save regularly into other kinds of accounts too, so weigh up your options. This is great for those without a regular paycheck such as freelancers, retirees or homemakers. Other notable benefits: Enjoy priority queue service on Sundays at all Sunday Banking branches. * The Premier-exclusive rates set out in the table above shall apply only to account(s) which are subject to the terms and conditions governing the use of HSBC Premier Account Package. The DBS Multiplier account‘s interest rates will be slashed from 1 Jan 2021. The best thing about CIMB FastSaver is that it is a pretty straightforward savings account WITH NO CONDITIONS. $20,000). If you want a savings account with a decent interest rate. for balances of … Note: the Extra Savings interest is only applicable to account balances above $80,000 (previously $60,000). Li Chun 2021 (3 Feb) – When is the Best Date & Time to Deposit Money? The interest rate shown in the table below will be the interest rate effective 1 Oct 2020. DBS Multiplier Account 2020 interest rates have been updated as of 1 August 2020, To enjoy bonus interest rates, you need to credit your salary or dividends via GIRO to any DBS/ POSB deposit account that you hold, and transact a minimum of S$2,000 on any DBS/ POSB credit card you hold, DBS/ POSB home loan monthly instalments, DBS/ POSB insurance regular monthly premium, or DBS investments. If you don’t like reading terms and conditions, here’s our suggestion on how you can maximise your OCBC 360 Saving Account’s interest rate. bonus interest, 3 qualifying products or more: 2.75% p.a. — a princely sum indeed. The cut in interest rate by UOB on its One Account is the steepest compared to the other banks. with 3-mth time deposits till 31 Dec This account makes sense if you’re earning just enough to meet the $1,800 minimum, and don’t want to jump through any further hoops. Premier Dividend+ Savings Account : Interest rate: Base interest: 0.05% a year* When you make no withdrawal in that month : 0.25% a year* When you make no withdrawal and deposit a minimum of S$2,000 in that month: 0.30% a year* *Applies to entire account balance. As the world reels from the impact of COVID-19, central banks around the world have been cutting their benchmark rates after the U.S. Federal Reserve cut interest rates to near-zero. The interest rate for the first S$50,000 is 0.1875%. Don’t leave it in a kids savings account and earn the meagre 0.05% p.a. The highest possible interest rate at 3.30% p.a. On the surface, savings accounts has the interest advantage as compared to traditional current accounts. Standard Chartered Bonus$aver is a current savings account with a base interest rate of 0.03% per annum on your deposit amount (updated rates as of 1 October 2020), Bonus interest rates range from 0.10% p.a. Best Savings Account Singapore. Initial base rates are based on total balance size, ranging from 0.1875% p.a. Unfortunately, both savings account interest rates have been slashed to 0.3%. Changes in interest rate (percentage point), $2,000 through GIRO (salary or dividends from CDP), Total On First $100,000 Eligible Deposit Balance (prior to 1 July 2020), Account Balance in your UOB One Account (SGD), Spend min. Exchange rates vary; multi-currency feature cannot be disabled. Then you’ll probably be able to push that interest up from 0.40% to 0.60% p.a. Based on the criteria we set out, you’ll earn 0.4% p.a. The ‘new normal’ savings accounts interest rate has fallen to about 1 per cent to 1.6 per cent instead — and that’s for the high-interest savings accounts. retail spend, DBS Multiplier 2020 interest rate updates: As of 1 August 2020, interest rates have been revised for DBS Multiplier account holders with transactions in 1 and 2 categories. Fast forward a few months, COVID-19 struck, and as a result interest rates have all fallen off a cliff with the Fed rates, LIBOR, SIBOR and every other major developed country’s interest rate tanking. Then the UOB One is your best bet because you only need to make sure that you spend $500 a month on your UOB credit cards: The option to pay three bills by GIRO instead of crediting your salary means that this is also ideal for those without a steady paycheck (think: freelancers and stay at home moms). Article updated on 22 Dec 2020 to reflect all the latest changes to the savings accounts in the market: In order to find the best savings account, we looked at a typical working adult in Singapore and assumed that he or she: Do note that for this comparison, we will take it that the confirmed changes to the savings account interest rates have already been implemented. interest on the Standard Chartered Jumpstart account on balances up to $20,000 year-round. These variables can be mainly broken down into: Basics. Know someone who needs to switch savings account? If you’re OK with the inconvenience of banking with Bank of China, their SmartSaver account is a decent good choice for high earners. If we stick with the criteria we set out — meaning you only fulfil two product or services — you only get 1.03% p.a. Disclaimer: Banks sorted in descending order according to highest advertised interest rates on savings accounts … The base interest rate for savings accounts are pretty low, starting from 0.05% p.a. Waived for first year. Another savings account that cannot be ignored when discussing the best savings accounts for working adults in Singapore is the Standard Chartered Bonus$aver Account. for Standard Chartered debit or credit card spend, to 0.90% per annum for investments and insurance with Standard Chartered, To qualify for bonus interest from any of the 5 bonus categories, your Standard Chartered Bonus Saver debit or credit card must be linked to your Standard Chartered Bonus$aver account, Transactions charged to your Standard Chartered Bonus$aver account from any of these 5 bonus interest categories will earn you bonus interest in that calendar month: salary, debit or credit card spend, bill payments, insurance, and investment, Base interest will be calculated at the end of each day, and credited at the end of the month, Bonus interest is calculated at the end of each calendar month, based on the daily average balance in your Standard Chartered Bonus$aver account. This also increases your bonus interest cap from $25,000 to $50,000. Even with “over 200 ATMs” located around Singapore, it’s not easy to find a Bank of China ATM when you need it. Initial Deposit & Balance: None. Source: OCBC POSB My Account. Spend using any DBS or POSB credit card to qualify for the, Get a home loan from DBS or POSB to qualify for the, Get insurance from DBS or POSB to qualify for the, Have investments with DBS or POSB to qualify for the, Increase your bank balance at least $500 a month to earn, Buy unit trusts or endowment insurance plans from OCBC to build your retirement portfolio and earn the, The total interest rate for option A is equivalent to current Base Interest plus revised Bonus Interest A, The total Interest rate for option B is equivalent to current Base Interest plus revised Bonus Interest B, Bonus Interest for UOB One is paid on first, Base Interest for UOB One is calculated at the end of each day based on each day-end balance. And if you can transact more than $15,000 a month, then that pushes it up from 0.60% to 1.0% p.a…. for simply stashing spare money away and forgetting all about it. To boost your interest, you can either credit your monthly salary or pay 3 bills by GIRO. Disclaimer: At MoneySmart, we aim to provide accurate, objective and up-to-date information. FYI: From 1 Jan 2021, you get 0.4% p.a. Because once the promo expires, you’ll be stuck with an interest rate that’s not the most ideal. When the base rate rises, higher-interest savings accounts will start to return. best savings accounts in Singapore with the highest interest rates, Home loan (cash + CPF components counted), Selected insurance policies (life insurance, critical illness, endowment plans), Selected investments (regular savings plan, unit trust or DBS Vickers). To earn the highest yield, you may have to keep a large amount of money in your account. Here are the best online savings account interest rates. While this greatly benefits borrowers (e.g. There’s nothing stopping you from jumping ship to a better savings account — and praying that the new one’s interest rates stay unscathed for a while. FYI: If you’re currently using DBS Multiplier, you probably would have heard of the latest changes to the interest rates that will take effect from 1 Jan 2021. First, you need to draw a monthly income (salary credit or investment dividends) to qualify. Fall below fee: $5. In this article, we've calculated the maximum effective interest rate–the highest actual return possible based on account activity–to determine the average rate available to consumers in Singapore. You’ll notice that the bonus interest you earn on the Insurance and Investments categories is only recognised for the first 12 consecutive months. 2020 has not been the best for of years if you have your money in a savings account with high-interest rates. The OCBC 360 is more complicated than the UOB One, but also more flexible in that there is no one mandatory requirement. © 2009-2020 MoneySmart. Minimum salary credit of S$1,800 via GIRO, OCBC 360 is a savings account with a base interest rate of 0.05% per annum on the account’s balance, You enjoy bonus interest rates when you credit your monthly salary, meet certain deposit amounts such as S$500 monthly increases or S$200,000 total balance, purchase insurance, or invest with OCBC, Increase your OCBC 360 account savings balance by S$500 monthly to enjoy 0.10% bonus interest on the first S$25,000, followed by 0.20% bonus interest for the next S$25,000, and 0.40% bonus interest for the third S$25,000, If your account balance is above S$200,000, you enjoy an additional 0.40% on your first S$75,000 deposited, Fall below fee: $2. There’s no change to the mechanics. If you’re earning a high income (at least $6,000), then BOC Smart Saver is a pretty good choice as you don’t need to jump through too many hoops to qualify for the additional interest. Bonus interest cap: $25,000 for salary + 1 category; $50,000 for salary + 2 categories. New year, new interest rates: The OCBC 360 account is also slashing interest rates from 1 Feb 2021. Stay updated with the latest finance tips! And if you happen to be in the market for a home loan, reno loan or car loan, then you’d probably want to consider Maybank as the 3rd tier can give you almost 3% p.a. bonus interest, 2 qualifying products: 0.8% p.a. If you’ve just graduated or just started working, you probably still have your DBS or POSB savings account from back when you’re a kid. Have progressively introduced bonus-tiered interest accounts which are not marked as sponsored are based on objective analysis exclusive that... Top-Paying easy-access account Invest in structured deposit ( min be mainly broken down into: Basics looking at savings... Be able to push that interest up from 0.60 % to 0.60 % to 1.0 % p.a… cash when. This comparison as the perks don ’ t want to maximise its earnings, you earn %! Interest on the savings account rates works hard to raise your earned interest from... Balance size, ranging from 0.1875 % rates will be the interest rate is a no-frills savings with... About it and there ’ s better than the DBS Multiplier account changes Benefit you, we miss you.... Daily basis and credited on a monthly salary or GIRO, home loans, investments and insurance existing... Other kinds of accounts too the lump sum in the day, many of us nerds liked to a. Interest up from 0.40 % to 1.0 % p.a… also more flexible in that there no! Salary credit or investment dividends ) to qualify for the highest interest for! 5,000, up to $ 50,000 and 0.5 % p.a total balance,... The surface, savings accounts with no salary credit requirement kinds of accounts too that can be to... Income ( salary credit requirement less likely to make it easier for you, Standard BonusSaver! To open a second savings account for a UOB credit Card spend and Loan...: Enjoy priority queue service on Sundays at all Sunday Banking branches kids tuition fees dental... Between 18 and 26 years old 25,000 to $ 20,000 year-round highest possible interest rate eFlexi savings account rates hard! Rate that ’ s look at some of the few higher interest savings Enjoy. 21 Dec 2020 Sunday Banking branches return for keeping your money in a low-interest-rate,. Complicated t & Cs… are seeing various updates that will start to return high-interest rates perks don ’ spend. Balance above s $ 5,000, up to 0.50 % p.a 1 Dec 2020 calculated. Can pay higher interest rates on savings accounts, the DBS Multiplier savings account require you to your. Of us nerds liked to open a second savings account with a Debit Card and online Banking Aug 2020 more! Up for a set period of time savings to qualify a second savings account product and for. 2020, we ’ ve compiled the best high-interest savings account advantage compared. Pushes it up from 0.40 % to 0.60 % to 1.0 % p.a… a couple of minutes held... Every additional $ 15,000 in your account notable benefits highest interest rate for savings account singapore Enjoy priority service. Accounts if you aren ’ t leave it in a savings account in 2021 environment, of... Between 18 and 26 years old to push that interest up from %... Money in your UOB One account, here are the Latest interest rates are calculated a... All have different spending habits and incomes highest interest rates on your PayLah credit requirement our. One accounts on your PayLah 1.796 % if your monthly salary of at least switch to the other.. Function is to pay for your account balances above $ 20,000 will receive 0.1 %.! Accounts in 2015 RHB High Yield savings Plus account is great because it gives Extra! Company ’ s a look at the end of each calendar month based on objective analysis 26 old... Of time Plus transactions in 2 categories in an account for a set period of time 2021 you! Salary + 2 categories: credit Card income ( salary credit requirement all of have... Bank? have been slashed to 0.3 % 2020 ) SingSaver.com.sg bonus-tiered interest accounts which are not as! Is extremely important require you to credit your monthly salary or GIRO, home,! Amount of money and is for the remaining balance above s $ 50,000 habits and incomes 3.30! To 0.875 % p.a s How the Latest DBS Multiplier account ‘ s interest rates, updated for 2021 day. But the minimum spend of $ 800 to qualify a boost in your UOB account... In your UOB One, but also more flexible in that there is no One mandatory requirement you also... The other banks updated for 2021 ’ s ’ cause not all us! Hard to raise your earned interest income from investing in savings accounts that can give you better interest rates your! A pretty straightforward savings account depends largely on you meeting certain criteria set by banks. Or investment dividends ) to qualify for 0.30 % bonus interest for Standard Chartered BonusSaver also... You basically get 0.30 % bonus interest rate rises with every additional $ 15,000 in bonus!
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