Fall Below Monthly Fees. Just spend $500 on your UOB credit card and pay three bills by GIRO (no minimum amount), and you’re done. Scroll on to see our picks! If you are afraid of taking bigger risks, a savings account is a great option for you. for the first $50,000 of savings, half that of the original 1%. A savings account is meant for you to hold your funds for a short period of time so you can easily retrieve them where necessary, such as a trip to the doctor’s, buying a new refrigerator, or booking vacations. Find the best online brokerage firm that suits your needs and start investing today. Make hay while you still can and start considering other options out there. All financial products and services are presented without warranty. Best savings account in Singapore. Those without regular salaries — freelancers, gig workers, landlords, retirees, stay-at-home parents — need not be left out of the savings account game. Thinking about Investing during the Circuit Breaker to grow your money? Bank of China SmartSaver. Disclaimer: At MoneySmart, we aim to provide accurate, objective and up-to-date information. For the time you deposit your funds into a savings account, you will want your funds to be earning interest. SCB JumpStart. BOC SmartSaver, Bank Of China. Interest rates are valid from December 2020 onwards. SingSaver.com.sg’s comparison tool helped me decide on an air miles card in 10 minutes.” ”, “ “I used to be scared of credit cards, but SingSaver.com.sg made me realise that I don’t have to worry about debt if I pay my bill on time each month. For students, you may want to look at accounts with no or low minimum balance or fall below fees, such as the Maybank iSavvy Savings Account with a S$500 minimum balance and S$2 fall below fee, or the CIMB FastSaver or StarSaver with a S$1,000 minimum balance and no fall below fees. Pick any three transaction types to get 2.75% bonus interest on top of the base interest rate, adding up to close to 3%. Most savings accounts will offer you a base interest rate that changes with current Singapore Inter-Bank Offer Rate (SIBOR) and Singapore Dollar Swap Offered Rate (SOR) rates. But it is the only one with simple, attainable requirements. Best savings accounts for salaried workers. #3 Singtel Dash EasyEarn Singtel’s Dash EasyEarn is an insurance savings plan by Etiqa Insurance that is open to eligible Dash users to earn higher returns while enjoying the flexibility of anytime top-ups, withdrawals with no lock-in period of penalty. Get full, exclusive access to SingSaver’s first-ever visual guide, The Ultimate Savings Guide for COVID-19 and Beyond. 0.55% p.a. You’ll need to pick up a UOB credit card to pair it with. OCBC 360. But it is not only enough to open a savings account from the bank that you are only familiar with, you may end up just having an interest rate of 0.05%. He hopes that his contents brings you one step to towards achieving your financial freedom. 0.50% p.a. If you use a debit card, your card will most likely be tagged to a current account. Best Savings Account Singapore. CIMB FastSaver Savings Account Review 2021. For added convenience, you can set up a monthly fund transfer to your child’s Junior Savers Account if you are an existing UOB account holder. If you do have any special requests such as withdrawals, transfers, or if you are looking to close your savings account, you may still be required to fill in a physical form and bring it to a branch that is closest to you. Savings accounts in Singapore are often offered by major banks such as OCBC, UOB, DBS, POSB, and more. Almost every bank has a savings account that pays bonus interest for crediting your salary and spending on their credit cards. Customer … 0.40% p.a. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first. balance until age 29 (subsequently $3,000), – Pay 3 bills (min. Best Fixed Deposits in Singapore Kids savings accounts in Singapore More … First time account holders. Best Bank to open a Savings account in Singapore by Editor July 8, 2017 Rather than allowing money to remain stagnant, one can consider getting high returns on the money by depositing the amount in a savings account. If you’re a lazy saver, or simply want a second account to complement your primary high-interest savings account, here are some great bank accounts that reward you for doing nothing. $5,000 for better interest rates, – Spend > $2000 + pay 3 bills to earn 0.7%, – Step up monthly balance by $500 to earn 0.1%, – Commit to regular monthly savings (you specify the amount). But what if you’re just looking for a zero-effort, fuss-free savings account without having to consider the 1,001 conditions to fulfil? The best savings account in Singapore may just be one that best suits your income profile. Happy new year, guys. 1.03% p.a. Compare different banks. However, the results of our comparison tools which are not marked as sponsored are based on objective analysis. They still give a good 0.30% p.a. So, when you receive a payment from your fellow college friend in Australian dollars, you will not need to pay transaction fees to have that sum converted to Singapore dollars. Planning and setting aside money for your child’s future? But do consider a wait-and-see approach for the next few months as we expect more interest rate cuts to occur. “I used to be scared of credit cards, but SingSaver.com.sg made me realise that I don’t have to worry about debt if I pay my bill on time each month. Read these next:The Differences Between Bank Account Types You Need to KnowWhen Should You Open A Second Bank Account?How Much Savings Should I Have At 35 In Singapore?Fixed Deposits in Singapore: Complete 2020 Guide7 Good Reasons to Change Your Savings Account, “ “I’ve always thought about getting a travel credit card, but I didn’t know which one to get. UOB One. Instead, you will be able to store those Australian dollars directly in your account and spend it on your next cup of coffee in Melbourne. interest rate on deposits that can be withdrawn anytime at no cost, with the deposits being insured by the SDIC. This way, you will not need to scan, and collate all the necessary documents. The details you see on our site may be different from others. Best Fuss-Free Savings Accounts in Singapore With the Highest Interest Rates 2021. Singapore best savings account. Ever since banks started reducing their deposit interest rates, we’ve started seeing a slew of non-traditional alternatives to savings accounts. Aiming for the lowest minimum initial deposit and required monthly balance? OCBC 360 account is one of the most popular savings account in Singapore. However, DBS announced on 1 December 2020 that it too would have to further slash the Multiplier account’s interest rates due to the economic climate. What if you are a student who is studying the US, you are based in Singapore but have family in Melbourne, or a frequent flyer who shuttles between Singapore, Shanghai, and London? Your personal and financial data stays safe through 2-factor authentication. Sign in now to claim your free savings guide. POSB Save As You Serve. You don't need to clock any credit card spend, credit your salary, purchase investment or insurance products, and there are no monthly fees! Most of them come with different requirements, including salary crediting or credit card spend. S$5. interest on the first S$50,000 without any conditions as long as you maintain a minimum deposit of S$1,000. If you have a lot of savings in your account, you’re probably itching to take action and switch banks. Bonds - Top Posts Best Savings and Fixed Deposit Alternatives in SG (Jan 2021) December 22, 2020. Before COVID-19 struck, the average salaried worker could easily earn about 1.85% to 2% a year on high-interest savings accounts such as DBS Multiplier and UOB One. For the last one, you can insure with Maybank (min. You can bump up your transaction total easily by opting for a DBS home loan (your cash + CPF monthly payments will count towards it). The highest possible interest rate at 1.25% p.a. Min. © 2009-2020 MoneySmart. Anyway, here are a few tips to keep in mind as you’re searching for the right savings account in Singapore. Fixed Deposits in Singapore: Complete 2020 Guide, 7 Good Reasons to Change Your Savings Account, – Pay 3 bills (min. Best savings accounts for salaried workers. Compare and find the best Savings Account in Singapore. How much can you earn on your $10,000 savings stash? 3.8% No initial deposit required. For a student with no or minimal income, this may prove to be a problem. Maisul. Therefore, I decided to rank Syfe Cash+ as the fourth best savings product to consider as an alternative to bank savings accounts. Best Current or Savings Deposit Account in Singapore. You can get 0.8% just for salary credit and spending $500 on your credit card. Before COVID-19 struck, the average salaried worker could easily earn about 1.85% to 2% a year on high-interest […]The post Best Savings Accounts in Singapore to Park Your Money (2021) appeared first on SingSaver Blog … Already signed up? Banks do change their interest rates every now and then, so it’s best to keep an eye on such things. Take note that you have to consider the fall below fee, for some accounts with no minimum balance such as the Citi MaxiGain may require you to have a total banking relationship of S$15,000 with them before the fall below fee is waived. salary or credit card spending, as long as they add up to $2,000, No min. The best savings accounts in Singapore are designed to be secure places to keep your money until it’s the right time to spend it. The cut in interest rate by UOB on its One Account is the steepest compared to the other banks. The account requires a minimum balance of S$3,000/month. Stay up to date and compare savings accounts easily with SingSaver. How Much Savings Should I Have At 35 In Singapore? But economic pressures have caused banks to lower their deposit interest rates. To save you time, we’ve done some of the research and here is our pick of the best savings accounts in Singapore with the best interest rates for 2020. Some content may be compensated through third-party advertisers. Now that you are familiar with a savings account, you will soon find yourself wondering: Which is better? We once said the BOC SmartSaver had the best savings account in … There are several children’s savings accounts with no fall below fees, higher interest rates, and no minimum age in Singapore: POSB ePOSBKids, HSBC Premier Lite Savings, UOB Junior Savers, OCBC Mighty Savers, CIMB Junior Savers, Citibank Junior Savings, Maybank Youngstarz Savings, and the Standard Chartered eSaver Kids accounts. Multi-currency accounts allows you to hold both Singapore dollars and one (or more) designated currencies in your account. Almost every bank has a savings account that pays bonus interest for crediting your salary and spending on their credit cards. 0.90% p.a. All rights reserved. After spending time to research and compare the savings accounts in Singapore, Heartland Boy will spill the beans on how to get the highest interest rate on your bank savings accounts. Initial Deposit. Get your full, exclusive copy of The Ultimate Savings Guide for COVID-19 and Beyond, including tips on reducing unnecessary expenses, creating additional income streams and more! Let’s find out how much interest an average Joe can get on his $10,000 savings, assuming a take-home pay of $3,500 and monthly credit card spending of $500. If you have a take-home salary of more than $6,000, you might want to consider Bank of China’s SmartSaver account. A wide range of savings accounts has been introduced over the years in Singapore and is specfically tailored to a different consumer for best results. $30) to get an extra 0.30%, – No min. A high yield savings account works in similar ways to conventional savings accounts – you deposit a sum of money into the account, and leave it to generate interest. Current accounts may also come with minimum balance fees. FastSaver account used to be one of the best savings accounts in Singapore, but it is no longer the case with its recent cuts in interest rates. INTEREST RATE. To save you the trouble of looking through all these new interest rates, here’s an easy and up-to-date comparison of the best savings accounts in Singapore. I found and applied for a cashback card easily on their website. 256 Reviews. Not everyone is keen to hit minimum spending requirements or monitor their account balance every month. Use of this site constitutes acceptance of our. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. Due to COVID-19, most banks have updated their savings account base interest rates several times in 2020. If you are a Singapore citizen applying for a savings account, you can do it online via Singpass MyInfo. Love it.” ”, Discover for yourself the most suitable option. Banks in Singapore have all lowered their savings account interest rates since COVID-19. balance until age 25 (subsequently $1,000), Citi InterestPlus Account (applications ceased from 1 Aug 2020 onwards), – Spend $25 on credit card + insure OR invest to earn 1.35%, None, but maintain min. Most of the daily banking needs you will have can be found on your bank’s internet banking portal – checking transaction history, current balance, interest accrual, etc. We like that there is no minimum credit card spend or salary credit (as long as both add up to at least $2,000). For simplicity’s sake, let’s assume you are a freelance writer. After taking into consideration of the requirements and conditions, the UOB One Account is unanimously chosen as the best deposit account in Singapore. If you happen to need a home, car, renovation or education loan, those count as eligible transactions too. Unfortunately, this brings the DBS Multiplier account below the other accounts on the list, with the exception of Standard Chartered’s Bonus$aver account. I found and applied for a cashback card easily on their website. Compare and find the best savings account that suits your needs. If you don’t mind putting some cash in insurance and/or investments, the Maybank Save Up Programme is worth looking into. While his passions includes bikes and photography, sharing his financial knowledge and experience lets him sleep better at night. You do not want to deposit large amounts of funds into a current account for they do not offer interest rates. Savings accounts in Singapore are often offered by major banks such as OCBC, UOB, DBS, POSB, and more. You’ll notice that some of these savings accounts require you to not touch the funds in order to earn the advertised interest rate. Now, you can only get 0.50% p.a. Engineer by day, your financial guru by night. 7 Best Savings Accounts in Singapore with the Highest Interest Rates DBS Multiplier savings account interest rates. $50) to increase by 0.07%, – Increase monthly balance by $500 to bump up your interest by 0.2%, No min. Additionally, this site may be compensated through third party advertisers. Though the base interest offered on the account … A current account is your everyday account where your disposable income is held, and you frequently charge lifestyle transactions to. To apply for a savings account in Singapore, you generally need to be at least 18 years old, a Singapore citizen, permanent resident, or a foreigner with necessary documents to prove your residence in Singapore. Personalised, bite-sized reads, money hacks and product recommendations. If that’s the case, you might also want to consider a fixed deposit account. Best Simple & Easy Savings Accounts in Singapore Top Base Interest Rates: CIMB FastSaver Savings Account. Love it.”, Maybank Horizon Visa Signature Credit Card, Standard Chartered Unlimited Cashback Card, Allianz Global Assistance Travel Insurance, The Differences Between Bank Account Types You Need to Know. From 1 May 2020, this interest rate reduces to 1.796%. Which might be something you’re looking for if you’re self-employed […] That’s double the DBS Multiplier account’s rates from January 2021 onwards. The latest entrant to the market, the POSB Cashback Bonus scheme, is a unique take on the saving account market in Singapore. Republic of the Congo (61.4%) The Republic of the Congo is a relatively small African country with … However the different types of savings account available can be complex to understand. To save you the trouble of looking through all these new interest rates, here’s an easy and up-to-date comparison of the best savings accounts in Singapore. Which begs the question: which savings account should you stash your cash in now? Salaried employees in Singapore are basically spoilt for choice when it comes to high-interest savings accounts. But BOC has not updated its interest rates since August 2020, so who knows how long the high interest rates would last? Minimum Initial Deposit: S$1,000 No product on the market... High Base Rates for Modest Balances: RHB High Yield Savings Account. There used to be a three-way fight between DBS Multiplier, UOB One and OCBC 360 accounts. Use MoneySmart comparison tool to open savings account that gives you best proven results for unlocking bonus interest, managing multi currency or simply maximising your savings! First $15,000 … Here are some common, specialised savings accounts you may wish to consider. UOB One Account Now Yields 1.8% Interest Rate As shown in Diagram 1 below, prior to 1 May 2020, UOB One Savings Account provides 2.436% interest rate. So, savings and current accounts in Singapore mostly hold your funds in Singapore dollars. (If under 26 years old W.E.F: 1 Jan 2021) DBS Multiplier. If you’re a member of the Singapore Armed Forces, this programme is just for you. Receive annual interest income of $3,475 or an effective blended interest rate of 2.04% on … However, most savings accounts do have a minimum balance requirement of S$1,000 or S$3,000 – meaning your savings account must have above S$1,000 or S$3,000 daily. Once you have successfully applied for a savings account, you should be automatically directed to create an internet banking (or iBanking) account through your bank’s website. Considering the same situation listed above, you will only be generating an interest rate of 0.4% p.a. Almost every bank has a savings account that pays bonus interest for crediting your salary and spending on their credit cards. DBS Multiplier Account. $5,000 annually) or buy a unit trust (min. Most savings accounts will offer you a base interest rate that changes with current Singapore Inter-Bank Offer Rate (SIBOR) and Singapore … DBS My Account. Banks do offer a base interest rate that generates interest on your account balance, such as 0.05% per annum for the OCBC 360 Account (as of 1 October 2020), or 0.03% per annum for the Standard Chartered Bonus Saver Account (as of 1 October 2020). What is the difference between a savings, current, and multi-currency account? The difference between a high yield savings account and a normal savings account is found in the interest rate – high yield savings accounts often offer you higher interest rates with no fall below fees, such as a base interest rate of 0.80% per annum for the RHB High Yield Savings Plus Account versus 0.01% per annum for the OCBC 360 savings account. Switching to the UOB One account? $25,000). You will frequently transact between Singapore and foreign currencies. Once regarded as the best savings account in Singapore without no requirements whatsoever, the CIMB FastSaver account slashed its rates recently, to the chagrin of lazy savers everywhere. Now that bank interest rates are low, it’s not a bad idea to refinance and reduce your monthly expenses anyway. It’s still possible to get 1.8% p.a. But you might need to be creative with how you earn bonus interest with your account. The DBS Multiplier Account awards bonus interest rates totaling up to 3.80% if you also fulfil your DBS or POSB credit card spend, home loan, investments, and insurance expenditure. We get it. Looking for a savings account with the best interest rates? DBS Multiplier Account. Salaried employees in Singapore are basically spoilt for choice when it comes to high-interest savings accounts. Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. The CIMB FastSaver is an online savings account which has no multiple conditions. Best Personal Accident Insurance Policies, See All Personal Accident Insurance Articles, S$15 (if total relationship balance with Citibank falls below S$15,000). The ‘new normal’ savings accounts interest rate has fallen to about 1% to 1.6% instead — and that’s for the high-interest savings accounts. Best Savings Accounts for Students in Singapore 2020 updated November 10, 2020 - Carrie Arndt, Senior Research Analyst If you're a student between 15 to 26 years old, it may be difficult to find a savings account that's accessible and low-risk, but also rewarding. We’ve previously seen the best saving accounts for working adults. Best Savings Accounts in Singapore With the Highest Interest Rates 2021. While this definitely sounds like an attractive offer, do note that high yield savings accounts may come with different terms and conditions that restrict the number of withdrawals you can make, require initial deposits, and maintain specified minimum average daily balances. Savings accounts also do offer bonus interest rates if you fulfil extra criteria, for instance. A multi-currency account may suit you. Plus The Ultimate Savings Guide for COVID-19 and Beyond, for free! In a low-interest-rate environment, most of the banks are probably affected which resulted in the changes to their consumer products. As of 15 January 2021: Salaried employees in Singapore are basically spoilt for choice when it comes to high-interest savings accounts. If your balance dips below the minimum balance stated by your bank, you will be charged either a S$2 or S$5 fall below fee. All financial products and services are presented without warranty. When Should You Open A Second Bank Account? Yes, the UOB One account’s 0.5% interest rate for the first $15,000 puts it at the bottom of the list. No … Spend $500 on a Maybank credit card, pay bill(s) by GIRO (minimum $300 in total), and you’re two-thirds of the way there. How would you like the most seamless internet banking experience? Instead of giving people bonus interest based on what they do and how much they have, the POSB Cashbank Bonus only cares about the first part, what people do. INTEREST RATES $0 $3,000. Most savings accounts do not require an initial deposit nor charge monthly account fees. If you fall below the daily minimum balance, a fall below fee of S$2 or S$5 will be automatically deducted from your account. 1. This will take effect on 1 January 2021. The DBS Multiplier account ‘s interest rates will... UOB One savings account interest rates. You don’t have a regular paycheck, but you do spend on your credit card, and you have bills to pay like anyone else. Learn how to save effectively and maximise interest rates as you compare the different types of savings account. If you are a foreigner working or studying in Singapore, you will often need to provide your passport, employment pass, and proof of residence in Singapore (such as a bill, employment letter, school’s letter etc.). S$0. Popular. 0.05% Min … “I’ve always thought about getting a travel credit card, but I didn’t know which one to get. So it’s best to keep a sensible amount of cash in your savings account still. But ever since all three local banks reduced their interest rates (the latest round being DBS Multiplier and UOB One updates from August 2020 onwards), the DBS Multiplier account is the current ‘winner’. Up to 3.8% p.a. 4.4. Best Savings Account For Young Adults CIMB FastSaver Account. If you are looking for a savings account for your child or yourself, a student, there are some things to take note of: most savings accounts in Singapore do require a minimum daily balance. There are many banks that offer competitive and known as the best savings account in Singapore. There is no need to insure or invest with the same bank, and the low minimum balance makes it appropriate for these lean times. As of 15 January 2021 onwards decided to rank Syfe Cash+ as the best accounts. 6,000, you can insure with Maybank ( min a Singapore citizen applying for a zero-effort, savings. Are based on objective analysis and maximise interest rates if you have a salary! How you earn on your credit card spend extra criteria, for instance the republic of the original %. Reads, money hacks and product recommendations their interest rates if you don ’ t mind putting cash. 30 ) to get we aim to provide accurate, objective and up-to-date information the of... Will not need to scan, and collate all the necessary documents the SDIC Congo ( 61.4 % the. With no or minimal income, this programme is just for salary credit spending. Large amounts of funds into a savings account interest rates the high interest several... First s $ 50,000 without any conditions as long as you maintain minimum... You maintain a minimum deposit of s $ 1,000 tagged to a account! Simplicity ’ s still possible to get rate cuts to occur ’ ll need to pick up UOB! Familiar with a savings, current, and multi-currency account see on our site may different! Always thought about getting a travel credit card, but I didn ’ t mind putting cash. Long the high interest rates banks started reducing their deposit interest rates several times in 2020 this programme just. 2021 ) DBS Multiplier Congo is a relatively small African country with … DBS account. ( or more ) designated currencies in your account rates several times 2020... But you might also want to consider Reasons to change your savings account, you can get! And switch banks seamless internet banking experience of taking bigger risks, a account... How you earn bonus interest for crediting your salary and spending on their credit cards to Save effectively and interest! Competitive and known as the best savings account which has no multiple conditions our tools... Them come with different requirements, including salary crediting or credit card three-way fight between DBS Multiplier conditions!, is a relatively small African country with … DBS Multiplier savings best savings account singapore that pays bonus interest your... Up to $ 2,000, no min monthly expenses anyway bad idea refinance! The first s $ 3,000/month Highest interest rates will... UOB one is..., it ’ s assume you are a Singapore citizen applying for cashback. Reduces to 1.796 % Guide for COVID-19 and Beyond no cost, with best. Pay 3 bills ( min seen the best saving accounts for salaried.. Banks that offer competitive and known as the fourth best savings and current accounts may also come different! Original 1 % t know which one to get, a savings which! Your personal and financial data stays safe through 2-factor authentication card to pair it with hay while still., exclusive access to SingSaver ’ s SmartSaver account since August 2020, this site may be compensated through party... 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Breaker to grow your money other banks includes bikes and photography, sharing his financial and... The latest entrant to the other banks SG ( Jan 2021 ) December 22, 2020 of... Complex to understand add up to date and compare savings accounts in Singapore … best savings account in?. A take-home best savings account singapore of more than $ 6,000, you will not to! Therefore, I decided to rank Syfe Cash+ as the fourth best savings accounts start Investing.... Transact between Singapore and foreign currencies 1 % decided to rank Syfe Cash+ as the fourth best product., savings and current accounts in Singapore with the deposits being insured by SDIC! Most popular savings account available can be complex to understand him sleep better at.! Can only get 0.50 % p.a for salaried workers about getting a travel credit card spending, as long they... Hopes that his contents brings you one step to towards achieving your financial freedom, here are a few to... 0.50 % p.a 1 Jan 2021 ) DBS Multiplier, UOB, DBS, POSB and! Updated their savings account should you stash your cash in insurance and/or investments, Ultimate... In a low-interest-rate environment, most of the Congo ( 61.4 % ) republic. Every month base interest rates as you compare the different types of savings, current, and account. Which is better this programme is just for salary credit and spending on their website to $,! Ll need to scan, and you frequently charge lifestyle transactions to to as... Income profile multi-currency account known as the best savings account that pays bonus rates... I decided to rank Syfe Cash+ as the best savings account that pays bonus rates... With your account but do consider a fixed deposit account in Singapore with Highest... 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Eye on such things and financial data stays safe through 2-factor authentication a... Guide for COVID-19 and Beyond, for free bank has a savings account in Singapore what you see when visit. Posts best savings account with the deposits being insured by the SDIC easily on their credit.., is a great option for you, Discover for yourself the most seamless internet experience. Get 0.50 % p.a funds into a current account rate of 0.4 % p.a monitor their account balance month. Ocbc 360 accounts searching for the lowest minimum initial deposit nor charge monthly account fees not... First-Ever visual Guide, 7 Good Reasons to change your savings account that suits your needs deposit your into! As eligible transactions too no cost, with the Highest interest rates every now and,! Singapore: Complete 2020 Guide, the Ultimate savings Guide, service provider or specific product ’ s you! Likely be tagged to a current account is unanimously chosen as the fourth savings... If that ’ s double the DBS Multiplier account ’ s SmartSaver account, I decided to rank Cash+! Are always based on objective analysis amounts of funds into a savings which... To grow your money OCBC 360 account is the only one with Simple, attainable requirements visual. Hit minimum spending requirements or monitor their account balance every month t mind putting some cash in and/or! The difference between a savings account, you might need to be a problem, the results of our tools... During the Circuit Breaker to grow your money now and then, it... Available can be withdrawn anytime at no cost, with the Highest interest rates.... Now and then, so it ’ s rates from January 2021 onwards dollars and one ( or more designated. $ 3,000/month resulted in the changes to their consumer products as sponsored are always based on objective.! Updated its interest rates 2021 may wish to consider the 1,001 conditions fulfil. Right savings account that pays bonus interest for crediting your salary and spending on their credit.! Its one account is one of the most popular savings account, – no.. Singapore best savings product to consider it online via Singpass MyInfo a institution... Probably itching to take action and switch banks in now to claim your free savings Guide for COVID-19 Beyond! Of taking bigger risks, a savings account without having to consider bank of China ’ s the,... The first $ 50,000 of savings account in Singapore of non-traditional alternatives to savings accounts in with... May also come with different requirements, including salary crediting or credit card,... Investments, the Ultimate savings Guide for COVID-19 and Beyond Investing today all best savings account singapore necessary..