💥 This is not a joke! Some Singaporeans are opening savings accounts that offer returns far above the norm — and traditional banks aren’t thrilled. Why? Because instead of earning just 0.05–0.5% annually, smart savers are earning 3 to 5 times more — just by choosing better options.
Most traditional banks like DBS, OCBC, and UOB offer low interest rates, relying on customer loyalty. Meanwhile, digital banks and fintech apps are entering the market with significantly better rates — with no hidden fees, insured deposits, and convenient mobile access.
| Bank / Service | Annual Rate (p.a.) | Minimum Deposit | Access to Funds | Key Features |
|---|---|---|---|---|
| GXS Save+ | 3.60% | S$100 | Anytime | No fees, insured up to S$75K |
| Trust Bank Save | 3.50% | S$0 | Instant | No min. balance, mobile-only |
| Standard Chartered JumpStart | 2.00% | S$0 | Anytime | For 18–26 y.o., no fees |
| OCBC 360 | Up to 4.65% | S$3,000 | Anytime | Tiered bonus interest |
| DBS Multiplier | Up to 3.00% | S$0 | Anytime | Bonus with salary credit/spend |
🏦Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.
🏦 Traditional banks are losing ground as more Singaporeans realise that their money can grow faster. Don’t let your cash sit idle in a 0.05% account. Spend just 10 minutes comparing — and you could earn hundreds more a year.