Singapore Bank Savings Interest Rate
Looking for Singapore Bank Saving Interest Rate? Listed below are some of the commonly held savings account.
There are lots of banks in Singapore offering savings account of different interest rates. We made it simpler for you by listing them below for you to compare.
As you can see, the rates being offered now are much lower than in the past years. It be as low as 0.05% p.a. or as high as 0.8% p.a. That’s 16x difference!
It is important to do some homework to seek out the one that offers the best interest rate so that you do not lose out on the potential interest which you could have earned. Even though it is not much, it is vital that you choose one that gives you high interest.
Since your money is already sitting in the bank doing nothing, might as well make it work a bit harder by generating more interest.
We will update this page periodically to reflect the changes in savings account interest rate offered by the banks, so bookmark us and visit us often!
The current champion is CIMB StarSaver (Savings) Account, they are offering 0.8% p.a. which is highest among other banks.
Savings Account Interest Rate
|CIMB StarSaver (Savings) Account Interest Rate|
|Month-end incremental deposit of S$100 or more||0.8% p.a.|
|Month-end incremental deposit of Less than S$100||0.5% p.a.|
|OCBC Bonus+ Account Interest Rate|
|Base Interest||0.20% p.a.|
|Monthly Bonus Interest (Did not withdraw within the month)||0.45% p.a.|
|Quarterly Bonus Interest (Did not withdraw within a 3-month period)||1.8% p.a.|
|OCBC FRANK Account Interest Rate|
|0 – S$10,000||0.20% p.a.|
|S$10,001 - S$100,000||0.30% p.a.|
|S$100,001 - S$500,000||0.40% p.a.|
|Standard Chartered Bonus$aver Current Account Interest Rate|
|Less than S$200,000||0.10% p.a.|
|S$200,000 & above||0.20% p.a.|
|0 – S$25,000*||1.88% p.a.*|
|*Minimum S$500 monthly spending on Bonus$aver World Mastercard Credit/Debit Card*|
|Plus! Savings Interest Rate|
|First S$50,000||0.2% p.a.|
|Next S$450,000||0.4% p.a.|
|(No interest is paid on amounts above S$500,000)|
|Maybank iSAVvy Savings Account Interest Rate|
|Daily balance below S$5000||0.1875% p.a.|
|Daily balance of S$5,000 to below S$50,000||0.30% p.a.|
|Daily balance of S$50,000 to below S$100,000||0.38% p.a.|
|Daily balance of S$100,000 to below S$200,000||0.38% p.a.|
|Daily balance of S$200,000 and above||0.50% p.a.|
|Interest-on-interest every 6 months for average monthly balances of at least S$5,000 to below S$100,000||6.00%|
|Interest-on-interest every 6 months for average monthly balances of at least S$100,000 to below S$200,000||18.00%|
|Standard Chartered eSaver Interest Rate|
|Less than S$50,000||0.10% p.a.|
|S$50,000 to S$199,999||0.15% p.a.|
|S$200,000 & above||0.25% p.a.|
|POSB Savings / DBS Saving Plus Interest Rate|
|First $10,000||0.05% p.a.|
|Next $90,000||0.05% p.a.|
|Next $250,000||0.05% p.a.|
|Next $650,000||0.075% p.a.|
|Remaining balance above $1,000,000||0.100% p.a.|
|UOB Saving Account Interest Rate|
|First S$15,000||0.05% p.a.|
|Next S$85,000||0.05% p.a.|
|Next S$250,000||0.05% p.a.|
|Above S$350,000||0.10% p.a.|
|OCBC Savings Interest Rate|
|First S$10,000 to S$250,000||0.05% p.a.|
|S$250,001 to S$1,000,000||0.08% p.a.|
|Above S$1,000,000||0.10% p.a.|
|Citibank (Step-Up/Tap and Save) Interest Rates|
|Base Interest||0.01% p.a.|
|Monthly Step-Up Counter||0.01% p.a.|
|Max Interest Over 12-Month||0.13% p.a.|
The interest rates are subjected to periodic reviews at the bank’s discretion. Please check with the respective banks website before committing your money to them.
Updated March 2014