Top Best Bank Account Singapore Options Compared

Recent changes in interest rates have reshaped Singapore’s financial landscape. Major institutions like OCBC and UOB adjusted their offerings in May 2025, with digital platforms like GXS and MariBank following suit. This shift makes it crucial to reassess where your money grows best.

Whether you prioritize high-yield salary-linked plans or no-frills deposits, understanding the latest updates helps maximize returns. Factors like balance thresholds, spending habits, and salary crediting play a key role in choosing the right fit.

This guide simplifies the process by comparing updated rates and features. Discover how digital banks stack against traditional options and learn strategies to adapt to the new rate environment.

Key Takeaways

• Interest rates dropped for OCBC 360 and UOB One in May 2025.
• Digital banks like GXS and MariBank offer competitive no-requirement rates.
• Salary-linked accounts often yield higher returns but have stricter conditions.
• Balance thresholds and spending habits impact earnings.
• Regular comparisons ensure optimal wealth growth.

Best Bank Account Singapore: Top Picks for June 2025

Singapore’s financial sector is experiencing rapid shifts in deposit yields this June. With traditional banks cutting rates and digital platforms revising offers, choosing the right savings account demands careful analysis. Below, we break down urgent updates and selection strategies.

Why Compare Savings Accounts Now?

Timing matters. Here’s what’s changing:

• OCBC/UOB cuts: Rates dropped to 3.30% p.a., while Standard Chartered’s BonusSaver offers up to 8.05% p.a. with insurance ties.
• Time-sensitive deals: UOB’s Cash is King promotion (S$500 bonus) expires soon.
• Digital adjustments: MariBank reduces rates to 1.88% p.a. from 16 June.
• Inflation impact: Low-yield deposits may not keep pace with rising costs.

Key Factors to Consider

Maximize earnings by evaluating these aspects:

1. Salary crediting: Some accounts reward payroll deposits (e.g., +1% interest).
2. Spending habits: Card transactions often boost rates (e.g., 0.5% per S$500 spent).
3. Balance thresholds: Higher tiers (S$100K+) unlock premium yields.

Understanding effective interest rates is simple. Imagine earning 3% on S$10,000: that’s S$300 yearly. But if rates drop to 2%, you’d lose S$100 annually. For deeper insights, explore Singapore’s rate comparisons.

Best High-Yield Savings Accounts with Salary Crediting

Earning higher interest requires strategic planning with salary-linked options. These accounts reward payroll deposits and disciplined spending, offering rates above standard tiers. Below, we analyze top picks for June 2025.

OCBC 360 Account: Tiered Rewards Up to 3.30%

The revised OCBC 360 offers 3.30% p.a. on balances up to S$100K. To qualify:

• Credit a monthly salary of S$1,800+
• Spend S$500 monthly on an OCBC card
• Increase your balance by at least S$500 each month

Pro tip: Compared to Bank of China’s SmartSaver (3.25% p.a.), OCBC’s broader card acceptance edges ahead.

UOB One Account: Cash Bonuses Meet High Rates

UOB One matches OCBC’s 3.30% p.a. but extends it to S$150K balances. Unique perks include:

• A limited-time S$500 cash bonus for new funds
• Lower salary crediting threshold (S$1,600/month)
• Bonus interest for bill payments and investments

Standard Chartered BonusSaver: 8.05% with Conditions

For aggressive savers, BonusSaver’s 8.05% p.a. stands out—but requires:

• Purchasing an insurance policy or investing S$100K+
• Maintaining a S$3,000 monthly salary deposit
• Using their credit card for transactions

Note: The base rate without add-ons drops to 0.05%, making this ideal for multi-product users.

No-Frills Savings Accounts (No Salary or Card Requirements)

Not everyone wants to juggle salary crediting or card spending—here’s where hassle-free deposits shine. These savings accounts eliminate complex conditions while still offering competitive returns. Below, we compare top picks for June 2025.

UOB Stash: 3.00% p.a. on S$100K (Until July 2025)

UOB Stash currently offers 3.00% p.a. on balances up to S$100K, but rates drop to 2.045% after 1 July. To lock in the higher yield:

• Maintain or increase your balance monthly—no salary or card requirements.
• New customers can earn a S$320 cash bonus by depositing S$100K fresh funds via the Cash is King promo.

Note: This account suits savers who prefer steady growth without transaction hurdles.

GXS Boost Pocket: 2.28% p.a. for 3 Months

GXS’s digital account provides a short-term 2.28% p.a. rate, ideal for temporary fund parking. Key details:

• Maximum balance capped at S$60K.
• No minimum deposit or spending rules.

Best for: Those testing digital banking or saving for near-term goals.

MariBank: 2.28% p.a. (Until June 2025 Rate Drop)

MariBank’s current 2.28% p.a. offer drops to 1.88% after June. Highlights include:

• Zero fees or minimum balance requirements.
• Instant transfers via GrabPay integration.

Tip: Act fast to secure the higher rate before the adjustment.

Conclusion: Which Savings Account Is Right for You?

Finding the right savings solution depends on your financial habits and goals. For balances above S$100K with payroll deposits, OCBC 360 (3.30% p.a.) shines. Those with S$150K may prefer UOB One for its cash bonus.

No-frills options like UOB Stash (3.00% p.a. until July) suit hands-off savers, while digital platforms like GXS offer short-term flexibility. Bundlers eyeing high returns can explore SC BonusSaver (8.05% p.a.).

Mix accounts strategically—pair UOB Stash with GXS for liquidity and growth. Always weigh security features against access needs to protect your wealth.