2026 has been an eventful year for savers in Singapore. Interest rates on popular accounts have shifted several times, making it challenging to find the best returns. For example, UOB One and OCBC 360 lowered their rates to 3.30% p.a. in May 2026 when salary is credited and card spending requirements are met. Just a month later, Standard Chartered’s BonusSaver account caught attention by increasing its maximum interest rate from 6.05% p.a. to an impressive 8.05% p.a. if all conditions are fulfilled.
By August 2026, OCBC 360’s top rate dropped to 2.45% p.a. for salary credit, savings, and card spend, positioning UOB One as the more attractive option—until it too announced a rate reduction to 2.5% p.a. effective September 2026.
With banks constantly adjusting rates and eligibility criteria—including salary credit, card spend, insurance, and investments—it’s important for savers to stay informed to maximise returns. To help, we’ve compiled a guide to the best savings accounts in Singapore with the highest interest rates in 2026, tailored for different financial goals.
Snapshot: Best Savings Accounts in Singapore (Aug 2026)
Savings Account | Maximum Interest Rate | Ideal For |
Standard Chartered BonusSaver | Up to 8.05% p.a. (first $100,000, 4 criteria) | High spenders |
OCBC 360 | Up to 5.45% p.a. (first $100,000, 5 criteria) | Lower income earners ($1,800+ salary) |
Citi Wealth First Account | Up to 7.51% p.a. (first $50,000–$500,000, 5 criteria) | Existing Citibank clients |
Bank of China SmartSaver | Up to 5.35% p.a. (first $100,000, 4 criteria) | High spenders |
UOB One | Up to 2.50% p.a. (from 1 Sep, first $150,000, 2 criteria) | Freelancers & self-employed |
Maybank SaveUp | Up to 4.30% p.a. (first $50,000, 3 criteria) | Home, education, or car loan users |
DBS Multiplier | Up to 4.10% p.a. (first $50,000–$100,000, 3 criteria) | Salaried workers |
CIMB FastSaver | 2.88% p.a. (first $25,000, 2 criteria) | Young professionals |
POSB SAYE | 3.50% p.a. (deposit only) | Students & first-jobbers |
HSBC Everyday Global Account | Up to 3.50% p.a. (with HSBC Everyday+ Rewards) | Debit card & rewards users |
Most accounts require meeting multiple criteria to unlock their highest interest rates. But for realistic scenarios—like just crediting a salary or minimal card spending—here’s what savers can expect on deposits of $50,000 and $100,000:
Citi Wealth First Account: Credit $3,000/month + spend $250/month → 3.01% p.a. on $50,000 (~$1,505/year)
Standard Chartered BonusSaver: Credit $3,000 salary + spend $1,000/month → 3.05% p.a. on $100,000 (~$3,050/year)
UOB One: Credit $1,600 + spend $500/month → 1.50% p.a. on $75,000 (~$750/year)
OCBC 360: Credit $1,800 + spend $500 + save $500/month → 2.45% p.a. on $100,000 (~$2,450/year)
Detailed Look at Top Accounts
Citi Wealth First Account This account combines a base interest of 0.01% p.a. with bonus interest up to 7.50%, allowing for a maximum of 7.51% p.a. interest. Bonus rates are earned by fulfilling criteria such as spending, investing, insuring, borrowing, and saving. Even fulfilling only two criteria—salary credit and card spend—yields a solid 3.01% p.a.
Standard Chartered BonusSaver After adjustments in June 2026, the BonusSaver account now offers up to 8.05% p.a., the highest in its history. To achieve this, account holders must credit their salary, spend on their credit card, invest in eligible funds, and purchase insurance. Fulfilling just salary credit and card spending still earns 3.05% p.a., which is attractive compared to other accounts. The full 8.05% p.a. applies to the first $100,000, making it one of the most generous offers available.
Key Takeaways
High interest rates often require meeting multiple criteria; evaluate which conditions you can realistically meet.
Bonus rates are usually tiered and capped on certain amounts, so understand the limits before depositing large sums.
Consider accounts that align with your lifestyle and financial goals, whether you’re a salaried employee, freelancer, or student.
Keeping up with the latest rates and account conditions is essential in 2026, especially with banks constantly updating their offers. Savvy savers who understand which accounts provide realistic returns can maximise interest income while maintaining flexibility in their finances.
By selecting the right savings account and meeting achievable criteria, you can earn competitive interest while keeping your funds accessible and safe.
