Savings Interest Calculator Singapore (Effective Interest Rate)
Work out how much interest your Singapore bank savings account really pays. Pick an account, enter your balance and tick the bonus categories you qualify for. The calculator shows your effective interest rate (EIR) and your estimated monthly and yearly interest.
Estimate based on a flat balance for the full year, with no compounding. Effective rate = total interest per year divided by your balance. Actual interest depends on the bank's terms and your monthly average balance.
Estimate based on a flat balance for the full year, with no compounding. The base rate applies to your whole balance; bonus rates stack and apply only to the tiers shown. Effective rate = total interest per year divided by your balance. Actual interest depends on the bank's terms.
Estimate based on a flat balance for the full year, with no compounding. The base rate applies to your whole balance; bonus rates stack and apply only to the tiers shown. Effective rate = total interest per year divided by your balance. Actual interest depends on the bank's terms.
Estimate based on a flat balance for the full year, with no compounding. The base rate and the bonus rates apply by balance band as shown in the breakdown; bonus rates stack. Effective rate = total interest per year divided by your balance. Actual interest depends on the bank's terms.
Estimate based on a flat balance for the full year, with no compounding. Effective rate = total interest per year divided by your balance. Actual interest depends on the bank's terms and your monthly average balance.
Maintain or increase your Monthly Average Balance (MAB) compared to the previous month.
How to use this calculator
- Select a calculator. Choose your account, such as OCBC 360 or UOB One.
- Enter your balance. Use the amount you expect to keep in the account.
- Tick what you meet or compare scenarios. For stackable accounts like OCBC 360, tick the categories you qualify for (salary credit, spending, insurance and so on). The bonus rates add up. UOB One works differently: it shows every scenario side by side, so find the one that matches your card spend and salary credit.
- Read the result. You’ll see your effective rate and your estimated interest per month and per year.
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What is the effective interest rate (EIR)?
The effective interest rate is the total interest you earn in a year divided by your balance. Banks advertise a headline rate such as “up to X% p.a.”, but you only earn that rate on part of your balance, and only if you meet the conditions. The EIR shows what you actually earn across the whole balance, so you can compare accounts fairly.
Example: with an average monthly balance of S$100,000 in UOB One, spending at least S$500 on an eligible card and crediting your salary via GIRO earns about S$1,375 in interest a year. That’s an effective interest rate of 1.375%. If you only meet the card spend, the same balance earns S$500 a year, an effective rate of 0.50%. Same bank and same balance, but the conditions you meet change the result a lot.
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FAQ
Is the effective interest rate the same as the advertised rate?
Usually not. Advertised rates are the maximum, and they often apply only to the first part of your balance. The EIR averages what you earn across your whole balance.
Does this calculator include compounding?
No. It assumes a flat balance for the full year with no compounding, so treat it as an estimate.
Why is my actual interest different from the result?
Banks usually pay interest on your monthly average balance and apply their own terms. Check the bank’s official website for the latest conditions.
Which account gives the highest EIR?
It depends on your balance and which conditions you can meet. Run each account through the calculator, then compare on our savings interest rates page.
Can I use this for OCBC 360 and UOB One?
Yes. Select either from the dropdown. The UOB One Account calculator shows each interest scenario for your balance, and the OCBC 360 calculator lets you tick each bonus category to see the stacked rate. More accounts will be added over time.
More calculators: Basic Interest, Compound Interest, Balance Transfer Admin Fee Calculator.
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